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The Latest Breaking News from Oil

Wall Street buckles in for a long war as Hormuz remains closed and Trump says he has ‘plenty of time’

Three words spooking the market.

Fortune

Oil Tanker Reaches Mumbai After ‘Dark Transit’ Through Strait of Hormuz Amid Middle East Conflict

A crude oil tanker carrying Saudi Arabian oil has successfully reached Mumbai after navigating through the tense waters of the Strait of Hormuz during the ongoing conflict in West Asia.

Whats Hot

Iran war enters Day 14: As conflict completes two weeks, what we know so far - Tehran explosions, Israel strikes, US aircraft crash

The conflict between the United States, Israel, and Iran intensifies. Missile strikes and drone attacks continue across the Middle East. Oil prices surge and global markets react to the growing instability. Regional powers are increasingly drawn into the fighting. The war has spread across multiple fronts, with casualties mounting.

The Times of India

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Trump Says US 'Makes Money' From Oil Spike as Iran Warns Power Strike Could Black Out Region

Experts warn the US may struggle to end the Iran war as Tehran prepares for a long fight, while Trump says rising oil prices mean America profits from the conflict.

International Business Times UK

Shell CEO Wael Sawan's Pay Jumps 60% to $18.4M Despite 22% Profit Slide — and He Seeks an Even Bigger Bonus Next Year

Why Shell's CEO Wael Sawan received a 60% pay increase in 2025 amid falling profits and workplace fatalities. Learn about the proposed pay hikes and their impact on shareholders and the energy market.

International Business Times

Trump Under Fire as He Claims High Oil Prices Benefit America as Drivers Face Billions More in Gas Costs

Donald Trump claims rising oil prices benefit America even as drivers face billions more in fuel costs, sparking outrage and confusion.

International Business Times UK

Stock Market Crash: Sensex Falls 1,470 Points, Nifty Below 23,200

Indian equity markets witnessed a sharp sell-off on Friday, extending their ongoing downtrend as geopolitical tensions in the Middle East and surging crude oil prices rattled investor sentiment.

Whats Hot

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S&P Futures Gain as Oil Prices Retreat, U.S. PCE Inflation and GDP Data in Focus

March S&P 500 E-Mini futures (ESH26) are trending up +0.18% this morning, rebounding slightly from yesterday’s sharp losses as oil prices steadied, while investors await a flurry of U.S. economic data, with particular attention on the Fed’s favorite inflation gauge and the second estimate of fourth-quarter GDP.

Barchart

Hormuz miscalculation? Trump sideswiped by Iran's closure of Strait

Washington underestimated Iran's threat to close the Strait of Hormuz, causing global oil market jitters. Despite planning, economic fallout wasn't fully accounted for, leaving the US scrambling. While officials claim preparedness, limited options and high risks for naval escorts are evident. Iran signals the strait's closure remains a pressure tool.

The Times of India

Dubai under attack: Building in UAE city's financial centre hit by 'kamakaze drone' debris as war rages

Large plume of smoke seen close to the DIFC Innovation Hub in Dubai following a ‘successful interception’

Evening Standard

Starmer says government will step in if fuel companies rip off customers as trade body U-turns on decision not to meet Reeves – as it happened

The prime minister issues the statement after a fuel trade body earlier withdrew from a meeting with the chancellor today

The Guardian - UK

Ministers warn they will not accept wartime profiteering as crackdown on ‘rip-off’ fuel prices launched

Rachel Reeves has asked the competition watchdog to stay on ‘high alert’ for ‘unjustifiable’ price hikes

Evening Standard

Oil prices teeter above 100 dollars as US temporarily loosens Russian sanctions

Washington is temporarily allowing ‘permit countries’ to purchase Russian oil already in transit.

Evening Standard

US expands Russian oil waiver to all buyers in bid to tame prices

The US has expanded a temporary sanctions waiver on the purchase of stranded Russian oil from India alone to all countries worldwide as part of ongoing efforts to ease pressure on global energy prices.

Euronews

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The Independent UK

Starmer risks Trump’s wrath with split from US over lifting Russia oil sanctions

Trump administration temporarily allowing countries to buy Russian oil ‘currently stranded at sea’

International Business Times UK

Iran War Could Push UK Grocery Prices Up by Hundreds as Fertiliser Supply Stalls — Petrol Is Just the Start

Discover how the Iran war is causing a fertiliser supply chain crisis, leading to a second wave of food inflation in the UK. Learn about the impact on British households and the economy.

Evening Standard

Economy stagnates in January ahead of Iran war and fears over UK impact

Experts warned a prolonged Middle East conflict and an ongoing spike in oil prices could send the economy into reverse in 2026.

Euronews

High gas prices are fuelling demand for electric vehicles as drivers seek to save money

“Clean power and electrification combined is what provides the most security,” says Ember analyst Euan Graham.

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The Independent UK

Trump is ‘Putin’s pup’ mocks Newsom as Russian oil sanctions are lifted

IN FULL

International Business Times UK

Shell CEO Wael Sawan's Pay Jumps 60% to £13.8M Despite 22% Profit Slide — and He Seeks an Even Bigger Bonus Next Year

Evening Standard

Russia and Iran trying to ‘hijack global economy’, says Cooper

Iran’s new supreme leader has vowed to continue blocking the Strait of Hormuz in retaliation for ongoing US-Israeli strikes.

The Independent UK

Russia and Iran trying to ‘hijack the global economy’, Cooper rages

Oil price surges spark fears Putin could use outbreak of war to boost wartime economy

Axios

Scoop: Trump claimed in G7 call that Iran is "about to surrender"

24 hours later, Iran's new supreme leader vowed to keep fighting.

The Guardian - UK

Bleak economic data shows UK plc in trouble well before Middle East crisis

Zero GDP growth in January will not help Rachel Reeves claim she has put UK in position to weather oil price storm

Euronews

As Europe imports no Iranian oil, how does the conflict in Iran impact trade?

Tensions in the Middle East have threatened to drive up inflation and energy costs despite the EU having little direct trade with Tehran.

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Ayatollah Ali Khamenei

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