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The Latest Breaking News from Oil

Will Ships Have to Pay to Cross the Strait of Hormuz? Iran Drafts Toll Bill Amid War

The ongoing conflict in the Middle East is driving global oil markets deeper into turmoil, as Iran consolidates control over the Strait of Hormuz, a critical chokepoint for energy supplies. Tensions have escalated further with warnings from Tehran that the passage could be completely closed if the United States targets…

Whats Hot

Mexico races to clean crude from Veracruz coastline

Cleanup crews and navy personnel remained deployed along Mexico’s Gulf coast on 26 March after crude oil polluted beaches in Veracruz and Tabasco. Authorities said 128 tonnes of contaminated waste had been removed, while the source remains under investigation.

Euronews

Iran Rejects US Peace Plan via Pakistan, Sets 5 Conditions to End War Including Strait of Hormuz Control

US-Iran tensions escalate as Iran rejects a ceasefire proposal, demanding control over the Strait of Hormuz and war reparations. Learn how this impacts global oil supply and market stability.

International Business Times UK

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Fears net zero is ‘next Brexit’ as oil crisis fuels political climate divide

Rising energy bills give Reform and Tories opening to attack net zero while government hesitant to make case for clean energy

The Guardian - UK

West facing ‘war on two fronts’, Starmer warns at defence summit

The Prime Minister is attending the Joint Expeditionary Force leaders’ summit in Finland.

Evening Standard

FTSE 100 Live 26 March: Next shares surge in weaker index, oil price tops $105

Stock markets are sharply lower after fading hopes of a Middle East ceasefire caused the oil price to top $105 a barrel.

Evening Standard

‘A toxic punch’: fears Russia’s war is pushing the Black Sea and its dolphins past tipping point

As species vanish and the unique ecosystem radically changes, Ukrainian scientists can only wait until it is safe to properly assess the damage

The Guardian - UK

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Iran and US harden positions as Tehran keeps grip on Strait of Hormuz

Iran and the United States hardened their positions as diplomacy aimed at reaching a ceasefire in the war appeared to be faltering

The Independent UK

Iran-US war latest: Trump extends pause on energy plant strikes and says talks with Tehran going ‘very well’

The US may send an additional 10,000 troops on top of the thousands of service members already dispatched to the region, according to a new report

The Independent UK

Southeast Asia revisits nuclear power plans for AI data centers Iran war disrupts energy supplies

Nuclear power is getting a second look across Southeast Asia to prepare for surging demand for power for artificial intelligence-focused data centers

The Independent UK

Gulf states’ scepticism over alleged US-Iran talks signals a distrust of Trump

Reluctance to cheerlead alleged US ceasefire efforts reflects suspicion talk of peace could be another foil for escalation

The Guardian - UK

Asian stocks fall and oil prices rise again as Middle East war shows no signs of relenting

Oil prices continue to fluctuate as Strait of Hormuz, a crucial waterway through which a fifth of the world’s crude typically passes, remains shut

The Independent UK

Oil exec handed largest ever fine over contract rigging

A court has fined an oil company $5 million and its chairman $1 million for cartel conduct in a case brought by the competition watchdog.

AAP

Iran war deflects attention from Ukraine as an emboldened Russia starts spring offensive

The Iran war has deflected global attention from Russia’s all-out invasion of its neighbor Ukraine as Europe’s biggest conflict since World War II enters its fifth year and an emboldened Kremlin undertakes a spring offensive

The Independent UK

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The Conversation

Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war?

Gold has long enjoyed a reputation as a financial “safe haven” during stormy times. But over the past few months of geopolitical chaos and market panic, the precious metal has moved more like a roller coaster than a steady ship at anchor.

Times Pets

Best Foods for Senior Dogs and Cats

Just like humans, pets experience physical changes as they age. Senior dogs and cats may become less active, develop joint stiffness, gain or lose weight, and face digestive or immune challenges. Because of these changes, their dietary requirements are different from those of younger pets. Feeding aging pets the right…

Evening Standard

British forces will start seizing Russian shadow fleet ships, PM announces

Sir Keir Starmer said the UK would join allies in intercepting the sanction-breaking tankers, in a joint attempt to ‘go after’ them ‘even harder’.

The Independent UK

Starmer orders British commandos to seize Putin’s shadow fleet vessels

France, Belgium and Sweden have already boarded Russian ships in recent weeks as they attempt to cut off funding for Moscow’s war

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Evening Standard

Royal Marines Commandos to seize Russian ‘shadow fleet’ ships in Channel as Starmer targets Putin regime funding

Sir Keir Starmer said military will ‘go after’ sanction-breaking ships ‘even harder’

The Guardian - UK

UK armed forces authorised to board Russian tankers in British waters

Prime minister approves tougher action against shadow fleet of oil vessels attempting to evade sanctions

The Guardian - US

US Postal Service to introduce 8% fuel surcharge on packages

Surcharge, spurred by oil price spikes due to the Iran war, is set to take effect on 26 April and run until January 2027

Barchart

Soybeans Rally Late as Trump/Xi Meeting Scheduled

Soybeans rallied late on Wednesday, with contracts up 6 ¼ to 16 ¾ cents at the close. The cmdtyView national average Cash Bean price was up 17 cents at $10.98. Soymeal futures were down 70 cents to $2.60, with Soy Oil futures up 90 to 137 points. The White House...

Barchart

Cotton Push Higher into Wednesday’s Close

Cotton futures posted 15 to 56 point gains on the Wednesday session. The US dollar index was $0.253 higher at $99.495. Crude oil was down $1.06 on the day and nearly $5.00 off the lows. The Seam showed 2,087 bales sold on Tuesday at an average of 68.17 cents/lb. The...

The Times of India

BlackRock CEO Larry Fink warns oil could hit $150 amid Iran‑US war, causing 'global recession'

Larry Fink, BlackRock’s CEO, warns that Iran’s ongoing threats could push oil to $150 a barrel, risking a deep global recession. Even post-ceasefire, regional instability around the Strait of Hormuz may keep prices elevated for years. He stresses the regressive impact on consumers and urges accelerated investment in alternative energy…

Axios

Instability rocks Houston energy summit as Iran war, AI jolt oil markets

It's a split screen of oil markets upended by the Iran war and an AI-supercharged power sector.

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