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The Latest Breaking News from Oil

Inflation hits 3% in Europe as Iran war spreads oil price shock

Soaring oil prices from the Iran war pushed inflation higher to 3% in Europe in April

The Independent UK

‘Silky soft and well conditioned’: The 11 Olaplex products I recommend as a beauty expert

From cult classics to newer launches, these are the Olaplex products that truly deliver on shine, strength and long-term repair…

The Independent UK

Onder Albayram Fish Oil Raises Alarm as Study Links EPA Supplements to Tau Buildup Following Repeated Head Injuries

A new study in Cell Reports suggests EPA in fish oil may affect brain repair and Alzheimer's-related proteins, with implications for brain health and those with repeated traumatic brain injuries.

International Business Times UK

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The Strait of Hormuz is a data problem, not just a military one

GPS jamming, zombie ship IDs, and AIS blackouts have turned the world's most important oil corridor into a data void—and the real threat to global markets.

Fortune

Oil temporarily hits $126 wartime high as US–Iran standoff fuels supply fears

Oil markets face upward pressure on Thursday, with Brent crude briefly touching $126 as markets price in tensions in the negotiations between the US and Iran.

Euronews

Japanese Airlines Hike North American and European Flights by $350 — Why?

Japanese airlines are increasing fuel surcharges on long-haul flights as rising oil prices push travel costs higher for passengers worldwide.

International Business Times UK

UAE announces petrol, diesel prices for May 2026 as fuel rates jump by up to 10% across Emirates

UAE motorists will face higher fuel costs in May 2026 as petrol prices see another significant increase. This marks the third consecutive monthly hike, driven by global oil market instability and geopolitical tensions. The latest revisions mean higher expenses for daily commutes and businesses reliant on transportation.

The Times of India

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Oil prices race to highest level since 2022 over fears of Iran war escalation

The cost of benchmark Brent crude soared past 126 US dollars (£94) a barrel at one stage on reports the US is preparing to relaunch strikes on Iran.

Evening Standard

Smoke rises over Russia’s Tuapse after Ukrainian drone strikes hit oil refinery

Plumes of black smoke rise over the southern Russian town of Tuapse after multiple Ukrainian drone strikes on a major oil refinery in the coastal area.

Euronews

'Strait of Trump': US President shares new map naming Hormuz after himself, says blockade could last months

US President Donald Trump shared a modified map renaming the Strait of Hormuz as the "Strait of Trump," following claims that a naval blockade against Iran could last for months. This development occurs as Iran rejects US claims about economic damage and criticizes the blockade strategy, with its parliament speaker…

The Times of India

Katie Price Sparks Backlash After Promoting CBD in Dubai — Despite UAE Ban on Cannabis Products

Katie Price faces criticism for promoting CBD oil in Dubai, where cannabis-derived substances are strictly regulated. The online reaction highlights legal concerns and influencer responsibilities.

International Business Times UK

Revealed: British ad firm’s billion-dollar greenwash of US oil industry

London-based WPP accused of breaching climate policy after report reveals firm linked to twice as much oil advertising as US rivals

The Guardian - UK

What is OPEC and how does it shape global oil markets?

Oil is once again making headlines.

The Conversation

Oil prices surge as doubts grow over reopening of the Strait of Hormuz

IN FULL

The Independent UK

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The Independent UK

Iran-US war latest: Trump again declares ‘we’ve already won’ as he pressures Tehran to make a deal

President Donald Trump said even though the U.S. has ‘already won,’ he wants to win by a ‘bigger margin’

The Conversation

Australia isn’t getting a fair share of tax on gas exports. Queensland has shown how to raise the bar

Prime Minister Anthony Albanese has promised no new taxes on Australia’s gas exports in next month’s federal budget, saying the government “will not undermine existing contracts”. Questioned further, he said future gas tax changes aren’t being contemplated either.

The Independent UK

Analysis: US blockade is squeezing Iran's all-important oil industry

Even as Iran maintains its chokehold on the Strait of Hormuz, the Islamic Republic increasingly finds itself squeezed by an American blockade threatening its oil industry

The Independent UK

Ukraine-Russia war latest: Fire erupts at major Black Sea port oil refinery after fourth Ukrainian attack in two weeks

Trump says he and Putin have discussed a temporary ceasefire marking Victory Day next month, though Ukraine wants to see the details

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Euronews

What could the UAE’s exit from OPEC mean for oil markets and the climate?

The world's third-largest oil producer has the capacity to increase its output by almost 50 per cent, according to industry estimates.

The Times of India

'69 million barrels Iran can’t sell': After 2 weeks of US naval blockade in Hormuz, what next?

US Central Command reports 41 tankers carrying 69 million barrels of oil are blocked from offloading due to US enforcement measures, cutting off Iranian trade. President Trump has directed aides to prepare for an extended blockade, viewing it as a high-risk, effective strategy to pressure Tehran on its nuclear program.

The Guardian - UK

Rachel Roddy’s recipe for spaghetti with crab, chilli, herbs and lemon

Crab pasta done (mostly) the River Cafe way, with an ‘electric sauce’ of olive oil, red chilli, parsley, garlic and lemon

The Independent UK

Five Japanese ingredients to level up your cooking, says MasterChef winner Tim Anderson

MasterChef winner Tim Anderson says just five Japanese ingredients can transform the way you cook – boosting flavour, building confidence and making everyday meals far more interesting

The Independent UK

Iran mocks Trump over rising oil price as it skyrockets past $125: ‘Next stop $140’

Trump is slated to receive a briefing on plans for a series of military strikes on Iran in hopes it will return to negotiations

The Guardian - AU

Oil price tops $126 a barrel after Trump warns Iran blockade could last ‘months’

Markets spooked as US president appears willing to keep up naval blockade and Iran keeps strait of Hormuz all but shut

The Times of India

'Our bill has reached $800 million': Shehbaz Sharif says US-Iran war causing major economic blow to Pakistan

Pakistan's economy has been severely impacted by the US-Iran war, with oil import bills skyrocketing and economic progress stalling. Prime Minister Shehbaz Sharif stated that Islamabad will continue its efforts to mediate and restore peace in West Asia, highlighting recent diplomatic breakthroughs and planned future talks.

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