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The Latest Breaking News from Oil

Asian shares extend losses as the war with Iran widens and oil surges higher

Asian shares have resumed their decline after a global sell-off for stocks hit Wall Street, while oil prices climbed even higher

The Independent UK

Aussie shares dive as investors brace for energy shock

Australia's share market has plunged as surging oil prices dimmed the global growth outlook and dragged on industrial metals producers.

AAP

Trump’s strikes on Iran could cost the American economy up to $210B, report says

The president has said the U.S. could give military escorts to oil tankers in the region to ease the strain on global energy supplies

The Independent UK

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Soybeans Power Higher Late on Tuesday

Soybeans saw late session strength, with contracts closing 5 to 7 cents higher There were another 27 deliveries issued overnight. The cmdtyView national average Cash Bean price was up 6 1/2 cents at $10.97 1/2. Soymeal futures were up 20 cents to $2.20 on the day, with Soy Oil futures...

Barchart

Corn Sees Late Day Strength to Close with Gains

Corn futures posted gains across most contracts on Tuesday, with contracts fractionally to 2 cents higher. The CmdtyView national average Cash Corn price was up 1 cent to $4.06 3/4. Crude oil strength remains supportive. USDA reported a private export sale of 196,000 MT of corn to unknown destinations this...

Barchart

Cotton Losses Continue on Tuesday

Cotton futures are down 45 to 55 points in most front months on Tuesday. Crude oil was up $3.58 on the day to $74.81. The US dollar index is another $0.940 higher at $98.505. Uncertainty with China, as they have called for a halt to the strikes on Iran continues...

Barchart

U.S. oil and gas exporters profit from the Iran war, but they can’t begin to fill the supply gap as global prices spike

Energy prices continue to spike, but a worst-case scenario has yet to unfold.

Fortune

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Dow Jones Plunges Over 1,100 Points as Iran Conflict Escalates, Oil Surges to Multi-Year Highs

NEW YORK — The Dow Jones Industrial Average tumbled more than 1,100 points in early trading on March 3, 2026, as the deepening U.S.-Israel conflict with Iran triggered a sharp global risk-off move, sending oil prices soaring and reigniting inflation fears across Wall Street.

International Business Times

Tesla Stock Closes Near $403 Amid Geopolitical Pressures and Autonomy Focus

Tesla Inc. (NASDAQ: TSLA) shares closed at $403.32 on March 2, 2026, up 0.20% or $0.81 from the prior session, capping a resilient performance despite broader market volatility tied to Middle East tensions and surging oil prices.

International Business Times

Stocks Settle Lower on Iran War Anxiety

The S&P 500 Index ($SPX ) (SPY ) on Tuesday closed down -0.94%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.83%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -1.09%. March E-mini S&P futures (ESH26 ) fell -0.94%, and March E-mini Nasdaq futures...

Barchart

Trump will deploy US Navy to protect oil tankers in Middle East ‘if necessary’

The president also said he was offering government-backed risk insurance for ships passing through the Gulf region

The Independent UK

'Not happy with UK either': Donald Trump slams European nations, singles out Spain over Iran campaign

US President Trump has sharply criticized European nations, particularly Spain, for their stance on the US-Israel military campaign against Iran. While Germany is praised, Spain's refusal to allow base usage for operations against Iran has drawn Trump's ire. The conflict escalates with regional attacks and rising oil prices.

The Times of India

$1 Trillion Has Been Wiped Out From Stock Market as Middle East Tensions Ignite Investor Panic

A single session sees $1 trillion wiped from the stock market as Middle East tensions escalate, impacting global energy routes and investor confidence.

International Business Times UK

Trump offers U.S. insurance, military escorts to energy tankers in Mideast

The White House is seeking to ease oil price spikes that are starting to boost U.S. gasoline prices.

Axios

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MarketBeat

The Dividend Safe Harbor: 2 Stocks to Watch

Rising geopolitical tensions, surging oil prices, and increasing volatility are pressuring U.S. equities and driving a shift toward defensive positioning.

Barchart

Dollar Strengthens as Fed Rate Cut Chances Dim

The dollar index (DXY00 ) rose by +0.61% on Tuesday and posted a 3.25-month high. The dollar extended Monday’s rally on Tuesday after oil prices soared to an 8.5-month high, boosting inflation expectations and reducing the chance of additional Fed rate cuts, a supportive factor for the dollar. Market expectations...

The Times of India

‘Free flow of energy’: Donald Trump orders US Navy to escort tankers through Strait of Hormuz

President Trump has ordered the US Navy to escort oil tankers through the Strait of Hormuz if needed and directed a federal agency to offer political risk insurance for maritime trade in the Gulf. This immediate action aims to guarantee the uninterrupted global energy supply amidst escalating Middle East tensions.

Barchart

Crude Oil Sharply Higher as Iran War Disrupts Global Supplies

April WTI crude oil (CLJ26 ) on Tuesday closed up +3.33 (+4.67%), and April RBOB gasoline (RBJ26 ) closed up +0.0868 (+3.66%). Crude oil and gasoline prices rallied sharply for a second day on Tuesday, with crude posting an 8.5-month high and gasoline posting a 19-month high. The main bullish...

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The Conversation

Iran’s missile mayhem show the limits of Middle East defences

The Israeli Operation Roaring Lion and the American Operation Epic Fury started early on Feb. 28 when both countries began attacking Iran. Their airstrikes killed Iran’s leader, Ayatollah Ali Khamenei, while striking military targets and cities across the country. More than 700 people have reportedly been killed in the attacks…

The Guardian - UK

Iran has largely halted oil and gas exports through strait of Hormuz

At least four tankers have been struck by drones and maritime traffic has dropped by 80%, reports say

International Business Times UK

Iran Fires on the One Port Designed to Bypass the Strait of Hormuz, and Oil Markets Are Already Reacting

The recent attack on Fujairah's oil facilities highlights the escalating tensions in the Gulf, impacting global oil supply and prices.

The Independent UK

Trump issues Strait of Hormuz order to address oil crisis after Iran threats

IN FULL

The Guardian - UK

Middle East attacks intensify as Trump says he rejects Iran’s attempt to talk

US president claims ‘they want to talk. I said: Too Late!’, while Rubio threatens the ‘hardest hits are yet to come’

Barchart

Sugar Posts Modest Gains as Crude Oil Rallies

May NY world sugar #11 (SBK26 ) on Tuesday closed up +0.02 (+0.14%), and May London ICE white sugar #5 (SWK26 ) closed up +0.80 (+0.19%). Sugar prices posted modest gains on Tuesday, supported by surging crude oil prices. WTI crude (CLJ26 ) rose more than +4% on Tuesday to...

Axios

Why oil prices aren't even higher after Iran strikes

Oil hasn't yet approached the $100-per-barrel — or higher — level that numerous market-watchers say is possible.

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