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The Latest Breaking News from Oil

OPEC+ countries agree modest rise in production as Iran retains chokehold on key Strait of Hormuz

Seven countries in the OPEC+ grouping of oil-producing countries — including Saudi Arabia and Russia — say they’ve decided to a modest increase in production starting in June as part of a commitment to “market stability.”

The Independent UK

UK military says a bulk carrier near Strait of Hormuz reports being attacked

A bulk carrier near the Strait of Hormuz has reported an attack by multiple small craft

The Independent UK

The Hormuz hike: why the RBA is predicted to deliver a third straight interest rate rise this week

While interest rate rises can’t affect the surging price of oil caused by Middle East turmoil, they are still the Reserve Bank’s best – and only – tool to fight inflation

The Guardian - AU

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Ukraine hits key Russian oil-loading port and 3 'shadow fleet' tankers

Ukraine has launched a wave of strikes against Russia’s oil export infrastructure, hitting a key loading port on the Baltic Sea and three tankers that Ukraine alleges were illegally used to transport Russian crude

The Independent UK

5 Garden Tasks You Should Finish Before Summer Begins

A thriving summer garden doesn’t just happen—it gets built in the final weeks of spring when smart gardeners roll up their sleeves and set the stage for success. Warm weather brings explosive growth, stubborn weeds, hungry pests, and thirsty soil, all competing for attention at once.

Frugal Gardening

Trump Dismisses Concerns Over Iran Naval Conflict by Claiming Military Blockade Is a 'Very Friendly' Encounter

President Donald Trump's naval blockade of Iran has led to economic turmoil and heightened political tensions, with Tehran warning of unprecedented retaliation.

International Business Times UK

Cuba gets trickle of intrepid tourists as Trump’s oil blockade continues

Island’s tourism industry been hit hard by severe US pressure – but some say foreigners should still visit

The Guardian - UK

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Trump may not be a fan of clean energy but Iran war is accelerating global shift from oil and gas

Unintended consequence of US president’s actions will be boon for China, the leading renewables manufacturer

The Guardian - UK

Can higher oil prices negate damage to Qatari gas plant for Shell?

Evening Standard

'Not anymore': Ukraine hits two shadow fleet tankers carrying oil near Russia, launches 300+ drones

Ukrainian President Volodymyr Zelenskyy said that the forces have struck two Russian oil tankers near Novorossiysk port. This action highlights Ukraine's ongoing strategy to disrupt Russia's energy sector. Drone warfare has intensified, with Ukraine increasingly targeting Russian territory. Russia has also conducted extensive drone attacks across Ukraine. Diplomatic efforts for…

The Times of India

Iranian super tanker slips past US blockade with $220 million oil cargo

Despite US claims of total control over the Strait of Hormuz and a successful naval blockade, an Iranian oil tanker carrying over 1.9 million barrels of crude has reportedly evaded US forces and reached Asia. This incident, alongside claims of numerous Iranian vessels breaching the blockade, highlights ongoing challenges in…

The Times of India

Ukraine-Russia war latest: Zelensky meets Starmer as UK to enter talks to join £78bn EU loan scheme for Kyiv

Zelensky says Ukraine's military successfully hit Russia's Primorsk ⁠port

The Independent UK

Beijing Fires Back at Trump with a Legal Injunction Protecting Hengli and Four 'Teapot' Refineries

China's Ministry of Commerce issued a legal injunction against US sanctions on five Chinese oil refineries, marking a significant response to Washington's efforts to cut off Iranian oil revenue.

International Business Times UK

$100 Oil Shock: 3 Ways This Week’s Price Spike Could Hit Your Retirement Budget Fast

If you’ve noticed gas prices climbing again, you’re not imagining it, and it’s not just about what you pay at the pump. Recent global tensions...

Saving Advice

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Evening Standard

Swinney ‘very concerned’ by reports of BP considering leaving North Sea

Reports suggest the oil giant is considering its position in the North Sea.

InsideEVs

EVs Slashed Global Fuel Consumption Massively In 2025

As EV sales grow, the future of gas and diesel isn’t looking all that great. Electric two- and three-wheelers were the biggest contributors.

The Independent UK

Drone kills 2 in Kherson minibus strike, as Russia claims front-line progress

A Russian drone attack on a minibus in Kherson, Ukraine, has killed two people and injured seven, according to local officials

Euronews

Two people killed and over a dozen injured in Russian attacks across Ukraine

Russia is continuing to bombard Ukrainian cities daily with barrages of drones and missiles as ceasefire talks appear to have stalled in the wake of the war in Iran. Kyiv says its counter strikes targeting Russian oil facilities have been achieving success.

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Axios

The year that shook the Gulf

The region's vision of a post-oil future has taken a major blow.

Fortune

One economist’s ‘radical idea’ to solve the biggest energy crisis in history: a reverse OPEC

UMass Amherst economist Gregor Semieniuk says the U.S. is the most powerful country to make the idea work.

Fortune

The Iran war has turned the world's shipping straits into a chessboard—and the U.S. aims to box out China from the Panama Canal to the Malacca Strait

As the war over the Strait of Hormuz wages on, the U.S. is quietly gaining more influence over the Panama Canal and the straits of Malacca and Gibraltar.

The Independent UK

Ukraine is hitting oil facilities deep inside Russia. Soaring fuel prices could blunt the impact

Ukrainian drones are flying deep into Russia to strike oil facilities

The Independent UK

Ukraine-Russia war latest: Fighting escalates as Putin’s troops attempt to invade new Ukraine city

Kostiantynivka is part of Ukraine’s heavily fortified fortress belt in the country’s east

The Independent UK

Reopening Strait of Hormuz will not mean ‘return to normal’, Starmer warns

The Prime Minister also insisted the UK must ‘take a different course’ for its future than returning to the ‘status quo’.

The Times of India

Iran faces growing crisis as US blockade squeezes Hormuz, losses hit $4.8bn

Iran is facing mounting economic and military strain as a United States naval blockade around the Strait of Hormuz and Gulf of Oman continues to choke off its critical oil exports, with Pentagon-linked estimates putting losses at roughly $4.8 billion, a report by Axios said. The disruption has intensified pressure…

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