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The Latest Breaking News from Oil

Europe’s jet fuel supplies should fall below the key 23-day shortage threshold in June, so plan your travel accordingly

Europe, Asia, and Africa all face potentially dire jet fuel shortages. "There is little doubt there is going to be a disaster,” says one economist.

Fortune

European stocks rally, oil falls on hopes of US-Iran breakthrough

Some of Europe’s leading stock indices climbed more than 3% on Wednesday, while oil prices retreated as hopes for a diplomatic breakthrough in the Iran conflict boosted market sentiment.

Euronews

Oil and gas prices fall sharply, driven by hopes of strait of Hormuz reopening – as it happened

Iran’s Islamic Revolutionary Guard Corps navy has announced the strait of Hormuz could reopen following the end of ‘threats from aggressors’

The Guardian - UK

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The Iran war's oil shock causes a plastic shortage in Asia, squeezing industries and prompting a 'Middle East plus one' rethink of supply chains

South Korea is probing firms suspected of hoarding syringes, which, alongside products like needles and gloves, are produced from petrochemicals.

Fortune

The Most Reliable Cars You Can Choose Today

When people buy a car, they often focus on design, features, or brand value. While these factors are important, reliability is what truly defines your long-term experience. A car may look impressive at first, but if it frequently breaks down or requires constant repairs, it quickly becomes stressful and expensive.…

MyLifeXP

‘Much-needed fresh air’: 5 outcomes from the world’s first summit on ending fossil fuels

Almost 60 countries, representing about a third of the global economy, met in the Colombian port city of Santa Marta last week for the first international summit on the transition away from fossil fuels.

The Conversation

Oil prices fall as Trump pauses Project Freedom to seek final peace deal with Iran

Wall Street had already set records on Tuesday, with the S&P 500 rising 0.8 per cent to a new all-time high

The Independent UK

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Totally grounded? How the jet fuel crisis could change our holidays – and world history

Jet fuel has doubled in price since the start of the war on Iran. How bad will the disruption get and could this accelerate the route to jet zero?

The Guardian - UK

Trump and his oil-and-coal oligarchy should face sanctions for their war on the environment

Europe punished Russian billionaires over the war in Ukraine. It should do the same to those abetting an ecocidal regime, says Guardian Europe columnist Alexander Hurst

The Guardian - UK

Aussie dollar, shares soar on Iran peace deal hopes

Hopes for an end to the Middle East energy crisis have helped bolster the local exchange, after it tumbled for 10 of the previous 11 sessions.

AAP

Greens only party telling truth on need to stop oil and gas drilling – Mackay

The party’s co-leader said politicians had to be ‘honest’ with voters that more fossil fuel extraction would ‘do nothing’ to lower bills.

The Independent UK

Cotton Closes with Turnaround Tuesday Gains

Cotton futures were in turnaround action on Tuesday, as contracts closed with 130 to 188 point gains at the close. The US dollar index is $0.108 higher at $98.370. Crude oil was down $3.74 to $102.68. NASS Crop Progress data showed 21% of the US cotton crop planted as of...

Barchart

Soybeans Fall Back on Tuesday

Soybeans were 2 ¾ to 11 ¾ cents in the red on Tuesday, with the nearbys leading the charge. The cmdtyView national average Cash Bean price was down 11 1/4 cents at $11.43. Soymeal futures were down 50 cents to $1.30 on the session, with Soy Oil futures steady to...

Barchart

Corn Faces Tuesday Pressure

Corn futures closed the Tuesday session with deferred contracts fractionally lower to down 5 2/4 cents in the nearbys. In delivery May was down 8 ¼ cents. The CmdtyView national average Cash Corn price was 6 cents lower on the day to $4.38. Crude oil was back down $3.74 on...

Barchart

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The Guardian - US

Rubio insists US is ‘very fortunate’ as Iran war pushes gas price near $4.50

US secretary of state says US is better off than other countries hit by disruption in oil supplies

The Independent UK

After brief respite, gasoline prices continue their steady climb

The price of a gallon of regular gasoline climbed 31 cents in the past week, spiking to an average of $4.48 per gallon Tuesday, according to AAA

Barchart

S&P 500 and Nasdaq 100 Post Record Highs on Tech Strength

The S&P 500 Index ($SPX ) (SPY ) on Tuesday closed up +0.81%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +0.73%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +1.31%. June E-mini S&P futures (ESM26 ) rose +0.82%, and June E-mini Nasdaq futures...

International Business Times UK

Iran Launches Persian Gulf Strait Authority as Tehran and Washington Battle for Control of Hormuz

Iran has launched the Persian Gulf Strait Authority, requiring ships to register and pay tolls to transit the Strait of Hormuz, escalating tensions with the US over control of this vital waterway.

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The Independent UK

You need to replace your non-stick pans as soon as you see these marks

Are you using pans that you should’ve thrown out years ago? Here’s how to tell when it’s time to let go

International Business Times

Stocks Rise Again As Oil Drops And Companies Keep Posting Strong Results

Stocks rose again on Tuesday as oil prices dropped and companies kept posting strong first quarter results.

The Conversation

‘No fear of roaring lions’: Iran has a long history of standing firm against outside aggressors

US President Donald Trump’s threats against Iran since the war began have targeted not just the country’s military capabilities, but its entire civilisation.

The Conversation

The method in Iran’s madness? Closure of Strait of Hormuz echoes a centuries-old Danish play − and is a tragedy for the world order

More than two months into the war in Iran, navigation through the Strait of Hormuz – the key waterway through which more than a third of the international trade in oil and gas passes – remains perilous and uncertain. Underscoring the uncertainty, on May 3, 2026, the Trump administration launched…

Barchart

Dollar Firms as Geopolitical Risks Remain

The dollar index (DXY00 ) on Tuesday rose by +0.09%. The dollar rose slightly on Tuesday after the US March trade deficit was reported to be smaller than expected. The dollar also has safe-haven support as the US-Iran ceasefire appears shaky after the US Central Command on Monday said the...

Barchart

Crude Oil Prices Retreat as Middle East Tensions Ease

June WTI crude oil (CLM26 ) on Tuesday closed down -4.15 (-3.90%), and June RBOB gasoline (RBM26 ) closed down -0.1176 (-3.15%). Crude oil and gasoline prices settled sharply lower on Tuesday as the ceasefire in the Middle East appears to be holding, easing geopolitical risks. Crude prices retreated as...

The Guardian - US

US-Iran truce teeters on meltdown as stalemate takes toll on each side

Conflict appears to have reached impasse, but leaders in Tehran and Washington seem to think victory is near

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