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The Latest Breaking News from Oil

Iran to reopen Strait of Hormuz if US lifts blockade, reports claim

Despite an ongoing ceasefire, the US and Iran are locked in a standoff over the Strait of Hormuz, through which a fifth of the world’s oil and gas trade passes in peacetime.

Euronews

Iran war briefing: Trump meets with national security over Tehran peace plan

Donald Trump discussed Iran's proposal to reopen the Strait of Hormuz and end the Middle East conflict with his national security team on Monday, but a US official told Reuters that the President “doesn’t love the proposal” as he wants a peace plan to address Iran’s nuclear programme. The conflict…

The Independent UK

BP slammed over ‘astronomical’ profits amid oil price spike caused by Iran war

The oil giant saw profits surge by over 130% to a better-than-expected 3.2 billion US dollars (£2.4 billion) in the first quarter.

Evening Standard

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BP profits more than double as oil prices soar in Iran war

First-quarter profits of $3.2bn prompt outrage from campaigners, who say figures come at expense of consumers

The Guardian - UK

BP profits more than double as oil trading booms on soaring crude prices amid Iran war

The FTSE 100 firm’s preferred profit measure soared to a better-than-expected $3.2bn in the first quarter

The Independent UK

Why Australia has to boost fuel supply – and electrify transport

As Australia’s immediate fuel crunch eases after successful efforts to diversify supply, policymakers are turning their attention to dealing with the next energy security crisis.

The Conversation

UAE quits Opec in ‘pivotal moment’ for oil producing group – as it happened

It’s UAExit as the United Arab Emirates will leave Opec on 1 May, in a blow to the group of oil producers

The Guardian - UK

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Colombia conference aims for ‘more honest conversation' to speed fossil fuel exit

More than 50 countries are meeting in Colombia on Tuesday to push forward plans for phasing out planet-heating fossil fuels – with new urgency driven by geopolitical tensions.

Radio France Internationale

Spain, France, Portugal: Renewables race heats up as governments scramble to keep energy bills down

"As long as we depend on oil and gas, we will continue to pay the price of other people's wars,” said French Prime Minister Sebastien Lecornu.

Euronews

The air fryer isn’t just for nuggets – these recipes prove it

From crispy chilli beef to hot honey chicken and gooey cookies, Lucy Lord’s ‘Love Your Air Fryer’ shows how the kitchen staple has evolved into a genuinely versatile, everyday tool

The Independent UK

Shares fall in Asia and oil prices gain as talks stall on ending the Iran war

Shares are mostly lower in Asia and oil prices have gained as diplomatic efforts to end the Iran war stalled again

The Independent UK

Oil prices edge higher as Trump weighs Iran’s latest proposal to open Strait of Hormuz

US president is unhappy with latest Iranian proposal, US official says

The Independent UK

Midnight Oil frontman leads 'great Australian mission'

Musician, activist and former politician Peter Garrett is hoping to usher in the next generation of Australians to care for the land as he begins a new role.

AAP

‘Return of the pirates’: Iran accuses US of ‘armed robbery on high seas’ after oil tanker seizures

Iranian official Esmaeil Baqaei on Tuesday accused the United States of effectively legitimising piracy after it seized two vessels allegedly carrying Iranian oil in the Indian Ocean.

The Times of India

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AAP

ASX extends losses as Gulf worries buoy oil prices

Investor sentiment remains under pressure after weeks of earnings downgrades and the Middle East energy crisis weighing on hopes of future economic growth.

The Independent UK

First global meeting of climate ‘coalition of the willing’ focuses on the one big problem holding back action

A lack of financing is emerging as a major barrier to moving away from fossil fuels, officials and experts said at a global conference in Colombia

Barchart

Soybeans Start the Week with a Double Digit Rally

Soybeans were up 10 to 13 1/2 cents across the 2026 contracts on Monday, with deferreds up 5 to 9 ½ cents. The cmdtyView national average Cash Bean price was up 13 3/4 cents at $11.16 3/4. Soymeal futures were up $1.50 to $9.50 across the board, with Soy Oil...

Barchart

Cotton Posts Monday Strength

Cotton futures closed the Monday session with contracts 22 to 55 points in the green. The US dollar index was slipping 0.039 lower at $98.325. Crude oil was back up $2.28 to $96.68. NASS Crop Progress data showed 16% of the US cotton crop planted as of April 26, which...

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International Business Times

Baker Hughes CFO Warns Strait of Hormuz May Not Fully Reopen Until Late 2026

Baker Hughes CFO Ahmed Moghal told investors on the company's first-quarter earnings call that Baker Hughes' financial guidance assumes the conflict continues through the end of June.

Barchart

Tech Earnings Optimism Powers Stocks Higher

The S&P 500 Index ($SPX ) (SPY ) on Monday closed up +0.12%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.13%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.01%. June E-mini S&P futures (ESM26 ) rose +0.14%, and June E-mini Nasdaq futures...

The Conversation

Is oil king again? China’s surging cleantech exports show the opposite is true

Over the last two months, nations have scrambled to shore up oil supplies as the Iran war prevented oil tankers moving through the Strait of Hormuz.

Barchart

Dollar Slips on Hopes for US-Iran Peace Talks to Resume

The dollar index (DXY00 ) on Monday fell by -0.05%. The dollar fell from a 2.5-week high on Monday and finished lower after Axios reported that Iran has offered a new proposal to reopen the Strait of Hormuz. The dollar initially moved higher in overnight trade after President Trump canceled...

We Got This Covered

‘Who’s really scamming me?’: Man gets two different service recommendations from two Toyota dealerships on the same car in 24 hours

One follow-up exposed the cracks.

Barchart

Strait of Hormuz Closure Limits Energy Supplies and Supports Crude Oil Prices

June WTI crude oil (CLM26 ) on Monday closed up +1.97 (+2.09%), and June RBOB gasoline (RBM26 ) closed up +0.0372 (+1.12%). Crude oil and gasoline prices settled sharply higher on Monday, with gasoline posting a 3.75-year high. Crude prices continue to climb as stalled peace talks between the US...

Capital & Main

As the U.S. Spends Billions Fighting Iran, War-Driven Inflation Hits Working Families Hard

The rising cost of gas and higher utility rates are hurting farmers, ride-sharing workers and consumers from coast to coast.

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