The Latest Breaking News from Oil

UK Economy Faces Budget Cycle Strain as Iran Conflict Volatility Hits Markets

Explore how global tensions and rising oil prices are impacting the UK's economic recovery, with insights into the upcoming Budget cycle and inflation risks.

International Business Times UK · Mar 4

Labor says Australia won’t run out of fuel due to the Iran conflict. So how much do we have and how long will it last?

The amount of crude oil being refined locally has dwindled in recent years – but officials say Australia’s strategic reserve means there’s no need to worry

The Guardian - AU · Mar 4

Reeves reaffirms commitment to end windfall tax in talks with North Sea bosses

The Chancellor met figures from BP, TotalEnergies and Serica in Downing Street.

Evening Standard · Mar 4

Cotton Bouncing Back on Wednesday Morning

Cotton price action is up 30 to 55 points across most contracts on Wednesday morning. Futures are down 45 to 55 points in most front months on Tuesday. Crude oil was up $3.58 on the day to $74.81. The US dollar index is another $0.940 higher at $98.505. Uncertainty with...

Barchart · Mar 4

Corn Falling Lower to Start Wednesday Trade

Corn price action is down 1 ¼ to 3 ¼ cents in the front months. Futures posted gains across most contracts on Tuesday, with contracts fractionally to 2 cents higher. Crude oil strength was supportive. Tuesday’s preliminary open interest was down 14,092 contracts, mostly in the old crop contracts, as...

Barchart · Mar 4

UK interest rates could go back above 4% if energy shock persists, Niesr warns

The National Institute of Economic and Social Research said the Bank of England will have to contend with a ‘shock’ to energy costs.

Evening Standard · Mar 4

Experts tell UK households to fix energy bills now amid Iran war price hike fears

Nearly 60 energy deals have already been removed or changed, experts warn

The Independent UK · Mar 4

Bitcoin Rockets Past $71,000 Despite Geopolitical Turmoil

The rally in digital assets came alongside gains in traditional financial markets, with equity prices also recovering ground.

International Business Times · Mar 4

Scrapping windfall tax on oil and gas is ‘utterly essential’, Swinney insists

The Scottish First Minister spoke out ahead of a meeting between Chancellor Rachel Reeves and North Sea leaders.

Evening Standard · Mar 4

Saudi Arabian Oil Co. (Saudi Aramco) Shares Dip Modestly in Early Trading Ahead of Key Earnings Release

RIYADH, Saudi Arabia — Shares of Saudi Arabian Oil Co., widely known as Saudi Aramco, edged lower in early trading on the Tadawul exchange Tuesday, reversing some of the previous session's gains as investors positioned ahead of the company's full-year 2025 earnings report later this week.

International Business Times · Mar 4