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The Latest Breaking News from Oil

UK ‘absolutely not’ facing blackouts or rationing, says energy minister

Energy minister Michael Shanks stated the UK is "absolutely not" planning for blackouts or rationing, asserting the nation has a "strong and diverse range of supplies." This assurance comes amidst Iran's effective blockade of the Strait of Hormuz, a critical shipping route for oil and gas. Experts told MPs that…

The Independent UK

Post office set to add 8% surcharge on packages in first-ever fuel fee

While new for USPS, fuel surcharges are common in shipping, with FedEx and UPS recently raising fees as Middle East tensions drive up oil prices

The Independent UK

Stocks Finish Higher on US Push to End Iran War

The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed up +0.54%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +0.66%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.67%. June E-mini S&P futures (ESM26 ) rose +0.56%, and June E-mini Nasdaq futures...

Barchart

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Truckies worry as diesel slows to a trickle: ‘Shortage would bring economy to its knees’

Newsroom forecasts just 17 days' diesel by Sunday. Plus, Z Energy chief executive Lindis Jones gives his first interview since the start of the oil shock, agreeing business needs to work with ministers in something akin to a wartime governance of national unity. Jonathan Milne reports.

Newsroom.co.nz

Dollar Supported by Ongoing US-Iran War

The dollar index (DXY00 ) on Wednesday rose by +0.22%. The dollar recovered from early losses on Wednesday and moved higher after Iran said it rejected the latest US peace proposal. Also, Wednesday's US economic news, showing the Feb import price index ex-petroleum posting its biggest increase in 4 years,...

Barchart

Energy Stocks Surge on Oil Spike: Buy, Hold, or Take Profits?

Energy stocks are rallying amid geopolitical tensions and rising oil prices, but investors must decide whether to stay invested or lock in gains.

MarketBeat

As the Oil Shock Sends Energy Stocks Soaring, Buy These 3 Now

Oil prices spike on ongoing war concerns, sending energy stocks into rally mode. However, a long-term outlook is vital.

Barchart

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Crude Oil Prices Slide on Hopes Diplomacy Will End Iran War

May WTI crude oil (CLK26 ) on Wednesday closed down -2.03 (-2.20%), and May RBOB gasoline (RBK26 ) closed down -0.1344 (-4.34%). Crude oil and gasoline prices fell sharply on Wednesday in hopes that US-Iran diplomacy can end the war in Iran. Also, the unexpected increase in weekly EIA crude...

Barchart

Driving in the wrong direction: why NZ’s oil consumption is at a 5-year high

New Zealand’s latest quarterly energy report shows electricity production was above 90% renewable and emissions from generation fell to the lowest level on record.

The Conversation

This is how the 1970s oil shock played out. There are lessons for the economy today

On October 6 1973, the Yom Kippur War – mainly involving Egypt, Syria and Israel –triggered one of the biggest energy crises of the 20th century. Eleven days later, several Arab members of the Organization of the Petroleum Exporting Countries (OPEC) announced they would stop selling oil to countries supporting…

The Conversation

Sugar Prices Fall as Crude Oil Slumps

May NY world sugar #11 (SBK26 ) on Wednesday closed down -0.33 (-2.08%), and May London ICE white sugar #5 (SWK26 ) closed down -8.60 (-1.86%). Sugar prices fell sharply on Wednesday as a -2% slump in crude oil prices (CLK26 ) sparked long liquidation in sugar futures. On Tuesday,...

Barchart

Asia seeing energy ‘drought’ on horizon from Strait of Hormuz closure, MPs hear

Equinor, which is a major energy supplier to Europe, said a number of its vessels were caught up in the disruption.

Evening Standard

U.S. Suppliers Reportedly Increase Oil Shipments To Cuba's Private Sector As Trump Admin Continues To Pressure Havana Regime

U.S. suppliers have shipped tens of thousands of barrels of oil to Cuba's private sector as the Trump administration continues to pressure the Havana regime.

Latin Times

Mark Zandi warns recession odds are creeping toward 50%, and the Iran war could launch us into economic turmoil by midyear

As oil steadily climbs above $100 per barrel and Iran rejects a U.S. peace proposal, Moody’s chief economist says recession odds are only getting worse.

Fortune

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Fortune

Trump wrote the tariff playbook. Now Iran is using it on the world's most important oil route

Oil markets are whipsawing Wednesday amid dueling shaky peace proposals

The Conversation

Soaring gas prices and disrupted supply chains will ripple out to increase costs in every store and sector of the economy

The disruptions from the U.S. and Israeli attacks on Iran spread quickly to commercial aircraft, shipping lanes and the world’s energy supply. Those repercussions have already hit fuel costs, including for motorists, truckers and fishermen, and are set to spread even more widely, to packaging, household goods, appliances, medicines and…

The Independent UK

The ‘zombie’ ships appearing in the Strait of Hormuz after they were scrapped for parts

Reports suggest the vessels transitioned through Iranian waters and may have paid the IRGC $2m to pass

Barchart

Soybeans Rallying Higher on Wednesday

Soybeans are trading with 6 to 9 cent gains on Wednesday. The cmdtyView national average Cash Bean price is up 8 1/4 cents at $10.79 1/4. Soymeal futures were down $3.00 to $4.00, with Soy Oil futures up 120 to 130 points. The EPA is expected to release the RVO...

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Evening Standard

Stocks rally amid hopes of end to Middle East conflict

The Independent UK

Venezuela’s Delcy Rodríguez pitches newly opened oil sector to investors at Miami summit

Venezuela’s acting President Delcy Rodríguez is selling investors on a newly opened oil industry and looser U.S. sanctions

The Guardian - UK

Show of strength by Reform MPs at PMQs turns into a cameo appearance

A well-timed jibe by the prime minister at Nigel Farage’s side-hustle seemed to provoke the party leader into staging a mass walkout

Reason

The Iran War Has Already Hurt Oil Production More Than the '70s Energy Crisis Did

The conflict is squeezing global supply and pushing prices up.

Barchart

Crude Oil Weakness Pressures Sugar Prices

May NY world sugar #11 (SBK26 ) today is down -0.29 (-1.83%), and May London ICE white sugar #5 (SWK26 ) is down -6.90 (-1.49%). Sugar prices are falling today as a -2% slump in crude oil prices (CLK26 ) has sparked long liquidation in sugar futures. On Tuesday, NY...

The Guardian - UK

Here’s the danger: if Labour doesn’t offer a radical solution to the energy-price crisis, others will

Money-off vouchers won’t do. Instead, the government needs to offer a lasting vision for energy security – because we already know what Reform’s is, says Guardian columnist Jonathan Liew

The Guardian - UK

Iran rejects US ceasefire plan and submits its own amid push for talks

Donald Trump claims Iran still wants a deal, after Tehran puts forward five-point counter-proposal and says war will end when it decides and on its terms

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