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The Latest Breaking News from Oil

FTSE 100 edges lower amid new US-Iran uncertainty

News of the breakdown in talks between the US and Iran dealt a blow to those hoping for an end to the conflict, sending oil prices higher once more.

Evening Standard

Sugar Prices Pressured by Expectations of Abundant Supplies

May NY world sugar #11 (SBK26 ) today is down -0.01 (-0.07%), and May London ICE white sugar #5 (SWK26 ) is down -0.40 (-0.10%). Sugar prices are slightly lower today, pressured by expectations of abundant global supplies. Last Friday, NY sugar fell to a 5-week low, and London sugar...

Barchart

Magyar keeps door open to Russian energy despite EU phase-out plans

At his first press conference after being elected Prime Minister of Hungary, Péter Magyar said on Monday that the country will continue seeking the cheapest energy sources, including from Russia. His statement appear to clash with earlier pledges to phase out Russian energy imports by 2035.

Euronews

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'If Gas Prices Rise, Then Let It Rise': Trump Says Rising Gas Prices Does Not Concern Him

Trump downplays rising gas prices as oil surges past $100 amid Iran tensions, says he doesn't 'have any concern about it,' 'if they rise, they rise'

International Business Times UK

‘Will vigorously prosecute’: US warns against trading Iranian oil amid Hormuz blockade move

The United States has warned of vigorous prosecution for anyone involved in buying or selling sanctioned Iranian oil. This comes after US-Iran peace talks failed and the US announced a blockade of the Strait of Hormuz, targeting maritime traffic linked to Iran. The blockade aims to prevent sea mines and…

The Times of India

U.S. naval blockade on Iran will trigger a currency devaluation spiral and hyperinflation, potentially ending the war more quickly, analyst says

“Leaning on this money machine sends the economy into a tailspin, giving the mullahs much needed motivation to negotiate in earnest.”

Fortune

Crude Prices Jump as US Blockade of Strait of Hormuz Takes Hold

May WTI crude oil (CLK26 ) today is up +5.91 (+6.12%), and May RBOB gasoline (RBK26 ) is up +0.1254 (+4.13%). Crude oil and gasoline prices are sharply higher today after peace talks between the US and Iran broke down over the weekend and President Trump imposed a blockade in...

Barchart

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UK and France seek Strait of Hormuz solution as Trump’s blockade begins

Sir Keir Starmer and Emmanuel Macron will meet international counterparts this week for talks on reopening the strait, which has been closed by Iran.

Evening Standard

US blockade of Iranian ports comes into effect as Trump threatens to destroy 'attack ships'

In a social media post on Sunday, Trump said his goal was to clear the Strait of Hormuz of mines and reopen it to all shipping, but that Iran must not be allowed to profit from controlling the key cargo waterway.

Euronews

Food prices are already high in Canada. Will the Iran war make them worse?

Food prices in Canada have been rising at a faster rate than overall inflation for the past several years. In fact, food prices are 30 per cent higher than they were a decade ago.

The Conversation

Stocks Recover as Oracle Leads Software Companies Higher

The S&P 500 Index ($SPX ) (SPY ) today is up +0.09%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.39%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.16%. June E-mini S&P futures (ESM26 ) are up +0.12%, and June E-mini Nasdaq futures...

Barchart

Trump Threatens China With 50% Tariffs While Using Venezuela Oil as Strategic Leverage

Trump's comments reflect an ongoing push by the administration to expand Venezuelan oil production and reintroduce the country into international markets under new conditions

Latin Times

Trump's Hormuz Blockade Sparks Global Inflation Fears As Oil Markets React To Supply Shock

The surge in oil prices is expected to filter quickly into broader inflation given energy's central role in areas like transportation, manufacturing and food production.

International Business Times

Why US Stocks Fell Today: Dow Drops 247 Points As Oil Surges After Trump's Iran Blockade

President Trump's decision to blockade the Strait of Hormuz impacts US stock futures and oil prices. Dow Jones Industrial Average dropped 247 points and Brent crude surged past $100 a barrel.

International Business Times UK

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We Got This Covered

‘Maybe a little bit higher’: Trump admits gas prices might keep rising before midterms, as Americans already feel the pain at the pump

Not so reassuring.

The Times of India

Blocking what is already closed: Why Trump is blockading Hormuz Strait

President Trump has threatened to blockade the Strait of Hormuz. This move aims to increase pressure on Iran. The waterway is crucial for global oil shipments. Iran has already been limiting access. Trump's action risks further disruption to oil flows. This could lead to higher global oil prices. The US…

International Business Times

Iran Says U.S. Blockade Of Strait Of Hormuz Amounts To 'Piracy,' Threatens 'Forceful Response'

Iran said the U.S.'s blockade of the Strait of Hormuz amounts to "piracy" as oil prices rise again.

MarketBeat

These 3 Country ETFs Are Big Beneficiaries of the Iran Ceasefire

With fighting in Iran on pause, markets have soared once again. Here are three international ETFs poised to benefit most from normalized oil flows.

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The Conversation

Disputes over Africa’s ocean resources: here’s what could help avoid them

Over the last several decades, the oceans have become more crowded. Aquaculture, wind and wave energy, and oil and gas exploration are taking up more space. This growth threatens the health of ocean ecosystems and coastal communities’ access to food and livelihoods that they have relied on for centuries.

Evening Standard

US military begins blockade of Iranian ports on Trump’s orders

Prime Minister Sir Keir Starmer said he did not support the blockade announced by the US president.

The Guardian - US

‘A disturbing lack of integrity’: Columbia students file complaint against energy thinktank taking big oil money

Members of Sunrise Movement chapter claim university’s energy center engaging in deceptive trade practices

The Independent UK

Trump’s Strait of Hormuz blockade threatens piracy and risks outright war against China

ANALYSIS: Trump’s threats to the Strait of Hormuz will make America a pirate nation and risk conflict with China, making Beijing seem like the grown-ups, explains world affairs editor Sam Kiley

Barchart

Stocks Mixed as US Set to Blockade the Strait of Hormuz

The S&P 500 Index ($SPX ) (SPY ) today is up +0.05%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.39%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.21%. Stock indexes are mixed this morning even as crude oil prices surge after President...

The Independent UK

Nigerian ex-oil minister denies taking bribes for government contracts, during a trial in London

A former Nigerian oil minister has denied taking bribes in exchange for government contracts

Euronews

Can Péter Magyar break Hungary’s reliance on Russian oil?

Péter Magyar, the expected future Hungarian prime minister, won the general election in a landslide, unseating outgoing Viktor Orbán after 16 years in power and raising questions about whether Budapest will move away from Russian energy.

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