The Latest Breaking News from Oil

BP’s profits hit $6.2 billion (£5 billion) in the first three months of this year after benefiting from the soaring price of oil and gas.

Rolling coverage of the latest economic and financial news

Results are ‘obscene’, say unions, after soaring oil and gas prices help company to beat forecasts

Just Stop Oil said it is the first action of its kind in Scotland.

BP posted its best quarterly earnings in more than a decade as the government comes under pressure to do more to ease the cost of living crisis

This blog has now closed. You can find our latest coverage of the Russia-Ukraine war in our new live blog

President of the Kurdistan Region Nechirvan Barzani called on the federal government in Baghdad to take a "more serous" stances in condemning the rocket attacks that have been taking place in the Region in recent months. A missile attack targeted an oil refinery in the Kurdistan capital, Erbil on Sunday…

European Commission expected to propose sixth package of sanctions this week as hopes rise of more Mariupol evacuations

Ukraine say Russian forces have launched a "powerful assault" on the Azovstal steel plant in Mariupol, where more than 200 civilians are still holed up with Ukrainian fighters, according to the city's mayor. Humanitarian workers say around 100 civilians have successfully been evacuated from the plant and are now in…

Iran's oil minister has paid an official visit to ally Venezuela to meet President Nicolas Maduro and discuss ways to "overcome" the effects of US sanctions against both nations, officials said.

Asian shares are mixed in light “Golden Week" trading with markets in China, Japan and some other countries closed for holidays