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The Latest Breaking News from Oil

Trump's decision on whether to bomb Iran could have knock-on effects for his fight against the Fed

if Trump decides to bomb Iran and the conflict produces a prolonged disruption to the supply of oil, that might strengthen the dollar while damaging the global economy.

Fortune

Bank of England holds interest rates amid intensifying inflation risks

As widely expected, the Bank of England kept interest rates on hold as fears grow that the conflict between Israel and Iran will escalate to involve the United States. This would likely send oil prices soaring and push UK inflation further above target.

Euronews

Reeves promised oil industry ‘quid pro quo’ over windfall tax in private meeting

Government accused of making ‘secret exchange deal’ with fossil fuel companies to compensate for tax hike

The Guardian - UK

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UK's central bank set to keep interest rates on hold amid Middle East uncertainties

The Bank of England is set to keep interest rates on hold as fears grow that the conflict between Israel and Iran will escalate to involve the United States and send oil prices soaring and push U.K. inflation further above target

The Independent UK

Shell boss warns of ‘huge impact on trade’ if Israel-Iran conflict escalates

Blockage of strait of Hormuz, through which about 25% of world’s oil passes, could shock energy market, says Wael Sawan

The Guardian - UK

Bank of England warns of ‘elevated’ global uncertainty after leaving interest rates on hold – as it happened

UK central bank split 6-3 on interest rate decision, and warns that escalating Middle East conflict is pushing up energy prices

The Guardian - UK

UK ministers reopen door to drilling at two North Sea oilfields as new guidance released

Michael Shanks says guidance brings ‘clarity’ to approval process as analysis finds UK will be almost fully dependent on foreign gas by 2050 even if sites get green light

The Guardian - UK

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Experts Spill On How To Adapt Your Skin & Hair Routine For The Winter

The only thing that should be thirsty this winter is your ex. 🥵

Pedestrian.tv

Celebrate World Tapas Day with José Pizarro’s classic Spanish recipes

Mark World Tapas Day in true Spanish style with José Pizarro’s crowd-pleasing recipes – think golden tortilla, salty devilled eggs and croquetas worth burning your fingers for

The Independent UK

Asian shares decline after mixed Wall Street finish and tensions simmer in the Middle East

Asian shares have retreated across the region as worries persist about conflict in the Middle East

The Independent UK

Asian Stocks Drop After Fed Warning, Oil Dips With Mideast In Focus

Asian stocks fell Thursday after the Federal Reserve warned Donald Trump's trade war would likely reignite US inflation and dampen economic growth, while oil prices edged down as investors awaited developments in the Israel-Iran conflict.

International Business Times

Stocks are flat, as the Fed’s latest forecast flirts with stagflation

The Federal Reserve’s quarterly projection included lower growth and higher inflation; the Fed also maintained its previous expectation of two interest rate cuts.

Fortune

Middle East Jitters Underpin Crude Prices

July WTI crude oil (CLN25 ) Wednesday closed up +0.30 (+0.40%), and July RBOB gasoline (RBN25 ) closed up +0.0367 (+1.62%). Crude oil prices whipsawed Wednesday in volatile trade and finally settled higher. Concern about escalation of the Israel-Iran war boosted crude prices Wednesday after Iran's Supreme Leader Ayatollah Ali...

Barchart

Will the new Middle East crisis rock the world economy? The markets say no – but I fear they’re wrong

The oil shocks of the 1970s-90s had brutal economic impacts. As Israel attacks Iran, a moderate rise in oil prices rests on questionable assumptions, says Guardian columnist Larry Elliott

The Guardian - UK

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The Conversation

Why Israel-Iran tensions might not raise prices at the pump as much as feared (for now)

The unexpected attack by Israel on Iran, a major oil-producing nation, may undermine anaemic global economic growth and hinder central banks’ ability to cope in an already uncertain market.

Evening Standard

FTSE 100 nudges up ahead of Fed decision following broadly expected CPI data

The oil price fluctuated, with the Israel-Iran conflict entering its sixth day.

Barchart

Crude Prices Fall on Hopes the Israel-Iran Conflict Will De-Escalate

July WTI crude oil (CLN25 ) today is down -1.06 (-1.42%), and July RBOB gasoline (RBN25 ) is down -0.0054 (-0.24%). Crude oil prices today gave up an early advance and turned lower on signs that the conflict between Israel and Iran could de-escalate after President Trump said Iran reached...

The Guardian - US

Youth-led Sunrise Movement to launch campaign to ‘villainize big oil’ and force climate action

With climate policies under siege by the Trump, young climate activists are intensifying their campaign

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Euronews

Israel-Iran conflict fuels best month for energy stocks since 2022

European energy stocks soar as the Israel-Iran conflict drives Brent crude up 20% in June. The EURO STOXX 600 Energy index has gained 8% over the same period, on track for its best month since October 2022.

International Business Times UK

Global Oil Markets on Edge as Iran Threatens to Block Strait of Hormuz Amid Escalating War with Israel

Iranian officials allegedly plan to close the Strait of Hormuz. Can Donald Trump help prevent this?

Fortune

War, tariffs, and Trump: What members of the FOMC will be thinking as they finalize their base rate decision today

ANALYSIS: Here are a handful of factors likely impacting the Fed’s interest rate decision being announced today.

Evening Standard

PZ Cussons narrows profit guidance and sells stake in Nigerian palm oil firm

The London-listed firm said its profit outlook has been impacted by £2 million of new packaging recycling costs.

The Guardian - US

Trump promised riches from ‘liquid gold’ in the US. Now fossil fuel donors are benefiting

How Kelcy Warren, one of Trump’s biggest industry backers, and his pipeline firm are likely to flourish in his second term

Evening Standard

UK inflation to edge higher if oil prices push up energy costs, experts warn

Experts have said that inflation is set to remain elevated over the coming months, particularly if global oil prices continue to spike.

Euronews

Indigenous protest as Brazil sells Amazon oil blocks

Indigenous groups and environmental activists rallied in Rio de Janeiro on Tuesday as Brazil auctioned off oil blocks near the ecologically sensitive Amazon River mouth.

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