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The Latest Breaking News from Oil

Is Gold Inexpensive at $4,550 per Ounce?

Gold rallied to a new record high in late January 2026 and corrected by over 27%. While gold remains in a long-term bullish trend, the price is consolidating around $4,550 per ounce in early May 2026.

Barchart

Over the past 15 years, NZ moved its fuel safety net offshore – now it’s being exposed

Amid a worsening global energy crisis, New Zealand and Singapore’s freshly struck deal to keep fuel and other essential goods flowing is being touted as a boost to supply chain resilience.

The Conversation

Trump’s Project Freedom won’t undo an oil stranglehold created by the US

THE INDEPENDENT VIEW: Editorial: Regardless of the president’s latest effort to break Iran’s blockade, freedom of movement won’t be returning to the Strait of Hormuz any time soon

The Independent UK

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Cotton Trading with Turnaround Tuesday Gains

Cotton futures are trading with 134 to 265 point gains on Tuesday. The US dollar index is $0.068 higher at $98.330. Crude oil is down $4.35 to $102.07. NASS Crop Progress data showed 21% of the US cotton crop planted as of May 3, which was 2 percentage points ahead...

Barchart

Car Maintenance Mistakes Could Be Costing You Up to 10% in Fuel Economy

Gas prices might rise and fall, but one thing stays constant—drivers hate wasting money at the pump. What stings even more? Losing fuel efficiency because of simple, avoidable maintenance mistakes. Many vehicles quietly burn more fuel than necessary, not because of age or design, but because of overlooked basics that…

Clever Dude

Nicole Kidman's ultra-long Met Gala hair is full of glossy health - and we know the serum behind it

Kidman and her daughter shared a hairdresser, and a sweet red carpet moment...

Woman & Home

Venezuela Oil Revenues Remain Opaque Despite U.S.-Backed Oversight Push: Report

New reporting highlights persistent secrecy in Venezuela's oil sector following U.S. intervention and leadership change.

International Business Times

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Stuck on you: kitten rescued from bucket of glue bonds with foster parent

Two-month-old Elmer, painstakingly saved by canola oil baths, finds home with volunteer Leah Owens, 72

The Guardian - US

Crude Oil Prices Tumble as Middle East Ceasefire Holds

June WTI crude oil (CLM26 ) today is down -4.54 (-4.27%), and June RBOB gasoline (RBM26 ) is down -0.1140 (-3.05%). Crude oil and gasoline prices are sharply lower today as the ceasefire in the Middle East appears to be holding, easing geopolitical risks. Crude prices are retreating as relative...

Barchart

Tech Stock Strength Lifts the Nasdaq 100 to a Record High

The S&P 500 Index ($SPX ) (SPY ) today is up +0.74%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.57%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.20%. June E-mini S&P futures (ESM26 ) are up +0.70%, and June E-mini Nasdaq futures...

Barchart

Conservatives want more Australian oil and refineries – but is that really the answer to the fuel crisis?

Experts say expanding oil infrastructure, instead of embracing electric vehicles, would ignore basic economics

The Guardian - AU

Spirit Airlines Says 'Recent Geopolitical Events' Leading To Fuel Spikes Led It To Shut Down

Spirit Airlines said in a court filing that the spike in oil prices resulting from the Iran war played a key role in its decision to cease operations.

International Business Times

‘Take Kharg Island’: Lindsey Graham told Trump to seize Iran’s oil hub weeks ago, now he’s on Fox News saying the opposite

The script flipped.

We Got This Covered

Dollar Slightly Higher as Middle East Risks Remain

The dollar index (DXY00 ) today is up by +0.07%. The dollar is slightly higher today 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

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International Business Times

Iran War Causing Biggest Decline Of Oil Demand In History Outside The Pandemic, S&P Says

The war in Iran has led to the biggest decline in oil demand outside of the pandemic, according to S&P Global Energy.

Grocery Coupon Guide

7 Grocery Items Getting More Expensive And What It Means for Your Weekly Bill

While some sections of the supermarket are seeing price drops, other aisles are experiencing severe inflation. Global weather events and complicated supply chain disruptions are pushing the cost of specific ingredients to historic highs. Families relying on these popular pantry staples are facing a painful reality check at the checkout…

Barchart

Stocks Climb as Middle East Ceasefire Holds

The S&P 500 Index ($SPX ) (SPY ) today is up +0.64%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.32%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.08%. June E-mini S&P futures (ESM26 ) are up +0.62%, and June E-mini Nasdaq futures...

International Business Times

Oil Drops As U.S. Says Ceasefire Is Not Over And Guarantees Passage For a Ship Through Strait Of Hormuz

Oil prices dropped on Tuesday after the U.S. said the ceasefire with Iran is not over despite Tehran's attacks and Washington guaranteeing passage for a ship through the Strait of Hormuz.

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The Independent UK

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

Motor1

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…

The Independent UK

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

IN FULL

International Business Times 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.

Fortune

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.

Barchart

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...

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