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The Latest Breaking News from Oil

Fuel giants team up for major oil and gas plans in Gulf of Mexico

IN FULL

The Independent UK

The Latest: Hegseth and Caine say ceasefire between the US and Iran is not over

U.S. forces launched an effort to guide commercial ships through the Strait of Hormuz on Tuesday

The Independent UK

Every Chevrolet Corvette Generation, Explained

The Chevrolet Corvette is a weirdly resilient automobile. Created as a post-war trophy purchase for vets looking for something fun to drive, it survived not just the oil crisis of the 1970s but also the 2008 financial crisis, as well as whatever the heck we’re going to call what’s happening…

Motor1

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RAC warns that highest petrol prices are yet to come amid more Iran turmoil

IN FULL

The Independent UK

Four-Week Fuel Countdown Begins As California Officials Warn Of Imminent Gasoline Shortages After Last Oil Tanker Arrives

California faces a fuel crisis as the last Middle East oil shipment arrives, with only weeks of supply left. Refinery closures and geopolitical tensions exacerbate the state's vulnerability.

International Business Times UK

Current price of oil as of May 5, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Cotton Turning Back Higher on Tuesday AM Trade

Cotton price action is up 40 to 71 points so far on Turnaround Tuesday. Futures closed the Monday session with contracts down 30 to 127 points across most contracts. The US dollar index was $0.146 higher at $98.065. Crude oil was up $3.20 to $105.14. NASS Crop Progress data showed...

Barchart

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As government privatization efforts grow, lawsuits against federal contractors get more difficult

The question of which court should hear a case isn’t always as easy as it might seem – and the answer can sometimes make a difference in the potential outcome. For instance, in 2013, the government of Plaquemines Parish, Louisiana, decided to sue several oil companies for violating a 1978…

The Conversation

RAC issues petrol price warning as costs near highest since Iran war began

Oil is still cheaper than it should be, warn some experts

The Independent UK

Iran propaganda video depicts Trump in Super Mario consuming oil barrels

A propaganda video circulating on Iranian social media accounts appears to show Donald Trump depicted as a Super Mario character consuming oil barrels.

The Independent UK

The DIY Flax Seed Gel Mask That Works Like a Natural Glow Booster

In the search for glowing skin, many people turn to expensive products and complicated routines. But sometimes, the most effective solutions are already present in your kitchen. Flax seeds are one such hidden gem. These tiny seeds are packed with nutrients that can benefit your skin in multiple ways. When…

MyLifeXP

What is Project Freedom? Experts warn Trump’s plan to escort ships through Hormuz could backfire

The president announced an audacious bid to use the might of the US Navy to escort ships through the waterway

The Independent UK

Shutting Iran’s oil wells may be straightforward – but the consequences are not

The Strait of Hormuz – the narrow waterway through which between 20% and 25% of the world’s seaborne oil normally passes – has been effectively closed for just over two months.

The Conversation

Stock Index Futures Climb as U.S.-Iran Ceasefire Holds, JOLTs Report and Earnings in Focus

June S&P 500 E-Mini futures (ESM26) are up +0.28%, and June Nasdaq 100 E-Mini futures (NQM26) are up +0.47% this morning, supported by lower oil prices as the ceasefire in the Middle East appeared to be holding.

Barchart

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The Independent UK

Ineos boss Jim Ratcliffe criticises UK and Europe amid new US oil and gas investment with Shell

The two companies will jointly invest in exploration and production in the Gulf of Mexico

Evening Standard

Ineos and Shell join up to drill for new oil and gas in US

Sir Jim Ratcliffe criticised the UK’s energy policy which he said has been inconsistent compared with a more stable landscape in the US.

The Independent UK

US attempt to open Strait of Hormuz tests fragile Iran war ceasefire

The Iran war risks reigniting after the U.S. tried to force open the Strait of Hormuz for commercial shipping, firing on Iranian forces and sinking six small boats targeting ships

Euronews

'We can and we will strike': Iran threatens European military bases amid Hormuz escalation

Iran attacked ships in Hormuz and struck the UAE again as hardliners threatened that European bases could become legitimate targets. Tehran also issued its own Strait of Hormuz navigation map, warning US Navy ships and oil tankers from crossing.

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International Business Times UK

The Ceasefire Is Over: US and Iran Exchanging Missile Strikes as UAE Claims It Was Hit by Iranian Drones

The fragile ceasefire between the US and Iran has collapsed, leading to renewed military exchanges in the Persian Gulf and raising fears of a broader regional conflict.

Euronews

European markets mixed as oil prices stay elevated on Iran war fears

European markets opened in the green on Tuesday morning but later traded mixed as traders monitored developments in the Middle East.

The Independent UK

Markets slide as Trump-Iran tensions rattle oil prices and stocks

Asian stocks are trading lower, tracking losses on Wall Street after US stocks fell from record highs

AAP

Aussie shares trim losses but higher rates here to stay

The Australian share market fell to a four-week low ahead of an expected interest rate hike, a clear RBA majority decision pointing to higher rates for longer.

The Guardian - AU

Ukraine war briefing: Duelling ceasefires as Zelenskyy floats open-ended truce

Vladimir Putin wants empty skies on Friday and Saturday to celebrate Victory Day; Ukrainian president says guns can fall silent by Wednesday if Russia reciprocates. What we know on day 1,532

Barchart

Soybeans Rally on Monday

Soybeans posted gains on Monday, with most contracts up 9 ¼ to 19 ¾ cents. The cmdtyView national average Cash Bean price was up 17 3/4 cents at $11.54 1/2. Soymeal futures were $1.50 to $2.50 higher on the session, with Soy Oil futures 101 to 137 points higher on...

Barchart

Cotton Posts Monday Pullback

Cotton futures closed the Monday session with contracts down 30 to 127 points across most contracts. The US dollar index was $0.146 higher at $98.065. Crude oil was up $3.20 to $105.14. NASS Crop Progress data showed 21% of the US cotton crop planted as of May 3, which was...

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