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The Latest Breaking News from Oil

Iran war sparks EU proposal to reduce tax on electricity and encourage green transition

Electricity is taxed far higher than fossil fuels. Could a new EU proposal finally reverse this?

Euronews

Top 10 currencies in 2026 include Hungarian forint: Why they’re beating the US dollar

A war in the Gulf, a Federal Reserve frozen in place and a hawkish turn across Europe and the Pacific: how ten currencies are pulling away from a weakening US dollar.

Euronews

What does the Geelong refinery fire reveal about Australia’s fuel supplies?

Late on Wednesday, Victorian firefighters were called to a large fire at Viva Energy Group’s oil refinery in Corio, a suburb of Geelong. The blaze is believed to have been an equipment failure. Thankfully, no-one was injured.

The Conversation

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Oil prices drop below $95 and Asian stocks hit record highs as Iran peace deal hopes grow

Brent ‌crude opens 0.4 per cent lower at $94.55 a barrel after reports Iran could consider allowing ships to sail freely through the Omani side of Strait of Hormuz

The Independent UK

‘Unprecedented’ fire at Australian oil refinery threatens already dwindling petrol supplies

Supplying around half of Victoria’s fuel and 10 per cent nationally, the refinery processes about 120,000 barrels of oil per day

The Independent UK

Asian stocks mostly higher after Wall Street hits record and oil steadies

Asian stocks are mostly higher and oil prices have steadied over expectations of an extension of a ceasefire in the Iran war and more talks between the U.S. and Iran

The Independent UK

When oil refineries burn, here’s what happens to your lungs and heart

The fire at a major oil refinery in the Victorian city of Geelong has now reportedly been extinguished. But with thick smoke from the blaze lingering in the air on Thursday, many residents in Geelong and surrounding areas will understandably be worried.

The Conversation

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Albanese cuts fuel diplomacy mission short to rush to Geelong as Bowen calls oil refinery fire ‘a setback’

Some petrol stations may see short-term outages and energy experts warn Victorian fuel prices could spike up to 20 cents a litre

The Guardian - AU

Aussie hits four-year high as banks, miners drag shares

The Australian dollar is trading at multi-year highs as signs of de-escalation support the global growth outlook, but the optimism has not extended to shares.

AAP

Iran has a powerful new tool in the Strait of Hormuz that it can leverage long after the war

The Trump administration claims its blockade of the Strait of Hormuz is working, with nine ships complying with orders to turn around.

The Conversation

Geelong oil refinery fire: what we know so far

Viva Energy oil refinery at Corio, one of just two remaining in Australia, supplies about 50% of Victoria’s fuel and 10% of the whole country’s

The Guardian - AU

Spraying this DIY bed bug repellent on your mattress could prevent an infestation — and it's only $6

Get ahead of bed bug season with this simple spray you can use on your mattress and pillows. Bonus — it's good for your sleep as well.

Tom’s Guide

Soybeans Post Strength on Wednesday

Soybeans were in rally mode on the midweek session, with contracts 9 to 11 cents higher at the close. The cmdtyView national average Cash Bean price was up 11 cents at $11.01 3/4. Soymeal futures were $1.10 to $4.70 higher on the day, with Soy Oil futures up steady to...

Barchart

Fresh fuel supply fears hosed down after refinery blaze

Australia will lean more heavily on fuel imports after a fire caused by a suspected gas leak ripped through one of the nation's two oil refineries.

AAP

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The Times of India

'Blaze not yet under control': Fire breaks out at Viva Energy's Geelong refinery in Australia

A major fire erupted early Thursday at Viva Energy Group’s Geelong refinery in southern Australia, one of the country’s two remaining oil refineries that supplies about 10 per cent of its fuel.

The Independent UK

Stocks hit record high as investors bet on Iran war optimism

Whether Wall Street’s optimism for peace is justified, and if current stock valuations are sustainable, remains to be seen

The Guardian - AU

Geelong fire: blaze at one of Australia’s two oil refineries extinguished after 13 hours as fuel supply fears remain

Petrol production hit and full extent of damage unknown after ‘unprecedented’ fire at Viva plant in Corio

The Guardian - AU

Bowen says Geelong fire appears to be accidental; Keating lashes Liberals– as it happened

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Barchart

US-Iran Peace Hopes Push the S&P 500 and Nasdaq 100 to Record Highs

The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed up +0.80%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.15%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +1.40%. June E-mini S&P futures (ESM26 ) rose +0.79%, and June E-mini Nasdaq futures...

Kiplinger

S&P, Nasdaq Close at New All-Time Highs: Stock Market Today

Markets can see beyond the war in the Middle East and are no longer moving based on still-volatile crude oil prices.

The Mary Sue

Major humiliation for Donald Trump as ships ignore his Hormuz blockade bluff and sail right through

Donald Trump’s high-stakes gamble to squeeze Iran by blockading the Strait of Hormuz just got a reality check. Within hours of the U.S. Navy’s supposed ironclad blockade taking effect, multiple ships — including some linked to Iran and even a Chinese tanker — sailed right through the waterway like it…

Barchart

Possible US-Iran Ceasefire Extension Knocks Crude Prices Lower

May WTI crude oil (CLK26 ) on Wednesday closed down -0.05 (-0.05%), and May RBOB gasoline (RBK26 ) closed up +0.0297 (+0.98%). Crude oil and gasoline prices settled mixed on Wednesday, with crude falling to a 3-week low. Crude prices came under pressure on Wednesday after the AP reported that...

Clever Dude

5 Modern Grooming Hacks for the Busy Man

A sharp look doesn’t demand hours in front of a mirror. It demands strategy. The modern man moves fast, juggles responsibilities, and refuses to sacrifice style just because the clock feels unforgiving. Grooming now sits at the intersection of efficiency and impact, where small changes deliver major results without turning…

Barchart

Persistent Global Surpluses Sink Sugar Prices

May NY world sugar #11 (SBK26 ) on Wednesday closed down -0.37 (-2.67%), and May London ICE white sugar #5 (SWK26 ) closed down -4.70 (-1.11%). Sugar prices gave up an early advance on Wednesday and sold off sharply, with NY sugar sinking to a 5.5-year nearest-futures low. Sugar prices...

Euronews

Sweden foiled pro-Russian cyberattack on thermal power plant in 2025, minister says

Civil Defence Minister Carl-Oskar Bohlin said the aim of the operation was to disrupt the functioning of a facility that supplies heating.

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