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The Latest Breaking News from Oil

Iran Allows Indian-Flagged Ships Safe Passage Through Strait of Hormuz

Iran has allowed Indian-flagged vessels to safely transit the strategically crucial Strait of Hormuz, even as maritime activity through the waterway has slowed significantly following recent United States and Israeli strikes on Iran. The development was reported by The Economic Times and comes amid rising concerns over the safety of…

Whats Hot

TotalEnergies caps petrol and diesel prices at French service stations

French energy giant TotalEnergies announced on Thursday it will cap petrol and diesel prices at its service stations in mainland France for the next three weeks, as oil prices surge amid the conflict in the Middle East.

Radio France Internationale

Oil prices soar again after two tankers struck off coast of Iraq

Oil prices have surged past $100 a barrel following suspected Iranian attacks on multiple fuel tankers in Iraqi waters. Iraqi oil ports have completely ceased operations, prompting other countries to move their vessels from the area as a precaution. Iran has claimed responsibility for hitting a Thai bulk carrier yesterday,…

The Independent UK

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Newsletter: Oil prices spiral despite historic reserve release

Also in this newsletter: European Commissioner for the Economy Valdis Dombrovskis tells Europe Today that a prolonged and escalating war in the Middle East could mean a 'stagflationary shock' for Europe.

Euronews

Largest ever oil reserves released as Iran war fuels price rises

The Middle East conflict has seen oil prices surge as the flow of oil tankers has effectively stopped

The Independent UK

Middle East war creating ‘largest supply disruption in the history of oil markets’, as Brent crude hits $100 again – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Brent crude oil briefly tops $100 a barrel as Iran attacks on shipping worsen supply concerns

The price of a barrel of Brent crude oil, the international standard, has topped $100 a barrel again, jolting markets just days after it spiked near $120

The Independent UK

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As war spikes gas prices, drivers wonder how long it will last – and if they should go electric

Oil and gasoline prices are rising as the war in Iran intensifies and other global conflicts affect supply

The Independent UK

FTSE 100 Live 12 March: Oil price near $100 as index falls, travel stocks slump

The return of the Brent Crude oil price to $100 a barrel today heaped more pressure on the FTSE 100 index.

Evening Standard

Ukraine supporters oppose easing of Russia sanctions

Numerous lawmakers, including some Republicans, are outraged about the Trump administration’s easing of sanctions on Russian oil exports, amid reports that Moscow is helping Iran target U.S. troops in the Middle East. Treasury Secretary Scott Bessent, looking to ease a supply crisis caused by the Iran war that has driven…

Roll Call

Bulletin AM briefing: Oil prices climb and questions over Mandelson appointment

Oil prices soar again after two tankers struck off coast of Iraq. Government pledges that home heating oil costs must be ‘fair’ amid Middle East crisis. Starmer warned about ‘reputational risk’ over Mandelson appointment. NHS trusts facing difficult decisions amid ‘perilous’ financial situation. The costly error that turned PSG-Chelsea clash…

The Independent UK

Thursday briefing: What an Iran negotiator thinks could happen next – and why Trump still has an off-ramp

In today’s newsletter: Robert Malley, who led talks for the 2015 Iran nuclear deal, helps make sense of the war

The Guardian - UK

‘Unprecedented’ crisis in Middle East could ‘spin out of control’ warns WHO

As the bombing continues across Iran, Lebanon and the Gulf states, a World Health Organisation chief tells chief international correspondent Bel Trew in Beirut how she fears the conflict could lead to chemical, nuclear or radiological war

The Independent UK

British special forces shoot down 'suicide drones' as base in Iraq hit injuring US soldiers

A swarm of ‘unmanned aerial vehicles’ was launched at the camp in Erbil, northern Iraq

Evening Standard

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The Guardian - AU

More airlines hike flight prices as Iran war continues to disrupt oil supply

Cathay Pacific, AirAsia and Thai Airways join Qantas in increasing prices, as travellers flock to airlines that don’t have Middle East stopovers

The Independent UK

Iran's unrelenting attacks on Mideast shipping and energy infrastructure send oil prices soaring

Unrelenting Iranian attacks on shipping traffic and energy infrastructure again pushed oil above $100 a barrel

Radio France Internationale

War creating 'largest' oil shock in history as Iran hits new Gulf targets

The Middle East war is creating the biggest oil supply shock in history, the International Energy Agency warned Thursday, as Iran launched a new wave of attacks against Gulf energy targets that sent prices spiking above $100 a barrel.

The Independent UK

Iran-US war latest: Trump says strikes have ‘obliterated’ military targets on vital oil hub island

Kharg Island is the linchpin of Tehran’s oil industry

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The Guardian - UK

European drivers face €220 a year jump in fuel costs due to Iran conflict, say experts

Exclusive: Oil at $100 a barrel means higher prices in the EU and UK, making savings for those with electric vehicles even greater, analysts say

The Independent UK

Ukraine-Russia war latest: Europe condemns Trump’s oil sanctions move as Zelensky bemoans Middle East conflict

Zelensky says Trump’s move could net Moscow as much as $10bn to support Putin’s war on Ukraine

The Guardian - AU

Top Iranian nuclear scientists killed, Israel says – as it happened

This live blog has now closed

Euronews

Oil prices soar past $100 a barrel amid Iranian attacks on commercial ships

The latest attacks marked an escalation in Iran’s campaign aimed at generating enough global economic pain to pressure the United States and Israel to end the war that started 12 days ago. But there were no signs that the conflict was subsiding.

The Times of India

Iran war enters day 13: Missiles fly, tankers burn, oil prices soar; what’s happening in Middle East?

A coordinated US-Israel strike on Iran has ignited a full-blown regional crisis. Following Ayatollah Khamenei's death and his son's succession, Iran has intensified attacks on US and Israeli targets, expanding the conflict to the UAE and Bahrain. Hezbollah has also joined the fray, escalating regional instability and impacting global trade.

The Guardian - AU

Australia relaxes petrol standards for 60 days as NSW premier warns of fuel shortage at hospitals

Chris Minns says ‘no need for panic buying’ as state government considers emergency supplies and impact on critical services

The Independent UK

The Latest: Key oil price spikes over $100 as Iranian attacks hit shipping

The price of Brent crude oil, the international standard, spiked back over $100 as Iranian strikes hit ships in the regions waters and the ongoing American-Israeli war with Iran showed so signs of slowing

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