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The Latest Breaking News from Oil

Alcoa Stock Has Surged Higher on Aluminum Price Spike. 1 Analyst Still Thinks It Can Gain 14%.

The Street-high price target is $78, and aluminum is being hailed as the next oil.

Barchart

‘We depend very little on it’: Rubio non-committal on US helping reopen Strait of Hormuz

Marco Rubio has said that the US is not concerned about the closure of the Strait of Hormuz, which normally accounts for around a fifth of the world’s oil trade.

The Independent UK

Russia Calls Cuba 'Closest Partner,' Says: 'We Have No Right to Abandon Them'

A Russian tanker carrying roughly 730,000 barrels of crude arrived at the Cuban port of Matanzas this week, marking the first such delivery in three months

Latin Times

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‘Fossil-fuel imperialism’: Trump’s hankering for Iranian oil runs deep

Experts say the US believes it is entitled to resources it desires – a perspective president has supported for decades

The Guardian - US

Would more North Sea drilling mean lower energy prices for UK consumers?

Kemi Badenoch claims increased UK oil and gas production would cut bills by £200, but critics say plan won’t work

The Guardian - UK

Trump to address nation on Iran as gas prices rise, poll numbers drop — and midterms loom

President Donald Trump will address the nation Wednesday night as soaring gas prices, an unpopular war in Iran and his slumping approval number have become a collective political thorn for Republicans heading into November’s midterm elections. Trump will use the prime-time address to repeat his Tuesday declaration that the U.S.…

Roll Call

US Will Be 'Done in Iran' in 2-3 Weeks, Shifts Strait of Hormuz Duty—'Countries That Rely on it Must Step Up'

President Donald Trump has announced the US military could be 'done' in Iran within three weeks. He has ordered allies to secure the Strait of Hormuz and warned the UK to 'fight for yourself'.

International Business Times UK

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White House Reportedly Discussing The Possibility That Oil Will Climb To $150 Per Barrel

Trump officials are discussing the possibility that oil prices will climb to $150 a barrel, a development that could further alter the global economy, according to a new report.

International Business Times

Surprising Beneficiaries of High Gas Prices: BJs and Costco

When gas prices rise, it isn't just oil companies that benefit. Costco and BJ's both benefit from high fuel prices, and their stocks look poised for growth.

MarketBeat

Cotton Collapsing on Wednesday Morning

Cotton price action is down 110 to 130 points early on Wednesday. Futures saw weakness later on Tuesday, with contracts down 19 to 29 points following more than expected acres. The US dollar index was $0.658 lower at $99.695. Crude oil futures were down $1.13 to $101.75 on the day....

Barchart

Current price of oil as of April 1, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Britain to host 35 countries for strait of Hormuz talks, says Starmer

US understood not to be invited directly to talks that will explore ways of reopening critical waterway

The Guardian - UK

7 Overlooked Generic Swaps That Save Money Immediately

Food prices demand smarter choices at the register. Brand loyalty is an expensive habit. Shoppers pay a premium simply for a familiar logo on a box. Supermarkets invest heavily in their own private label programs. These store brands offer comparable quality at a fraction of the cost. Swapping name brands…

Grocery Coupon Guide

Strait of Hormuz Remains Choked in Iran Conflict as Limited Transits Resume Under Iranian Control

The strategically vital Strait of Hormuz stayed largely closed to normal commercial traffic Tuesday as the month-long Iran conflict continued, with only a handful of vessels transiting daily under tight Iranian oversight while the U.S. and allies debated military options to restore freedom of navigation and global oil flows.

International Business Times

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International Business Times

FTSE 100 Surges 160 Points to 10,337 as UK Stocks Rebound Strongly on April 1 2026

London's benchmark FTSE 100 index climbed sharply in early trading Wednesday, rising 1.58% or 160.48 points to 10,336.93 as investors appeared to shake off recent geopolitical jitters and bargain-hunt after a volatile March, with the blue-chip gauge trading in a wide range between 10,169.30 and 10,366.46 by mid-morning.

The Independent UK

The country that could be the first to run out of fuel due to US-Iran war

Bangladesh, a country of 175 million people that relies heavily on imports for its energy needs, is imposing fuel rationing and closing universities as anxiety grows over reserves running out altogether. Alisha Rahaman Sarkar reports

We Got This Covered

‘Gas is over $4 a gallon’: Hakeem Jeffries has 1 clear message to America after Trump’s $200 billion war wastage

Trump says it's fine as Americans no longer worried about being nuked by Iran

International Business Times UK

Donald Trump's Iran Address: White House Confirms Major Security Update Following Toll Threats

President Trump prepares a key address on Iran as Tehran restricts shipping through the Strait of Hormuz, threatening global oil supplies and raising the risk of escalation.

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International Business Times UK

Oil Prices Plunge as Donald Trump Announces US Forces Will Leave Iran Within Weeks

Oil prices whipsawed around $100 a barrel after Donald Trump said US forces could leave Iran within weeks, despite the Strait of Hormuz remaining largely shut. Traders are now trying to square the president's upbeat timeline with escalating attacks and a deepening regional supply shock.

The Guardian - UK

BP is operating in a world of ‘significant complexity’, new boss tells staff

Meg O’Neill’s memo comes as company tries to rebuild strategy amid oil shock of Iran war and after failed green pivot

The Independent UK

Why climate activists were covered in treacle outside the US embassy

Climate activists from Fossil Free London staged a protest outside the US embassy in London, dousing themselves in treacle to symbolise oil. The demonstration aimed to highlight soaring energy costs and oil company profits, specifically targeting the undeveloped Rosebank oil and gas field in the North Sea. Protesters linked the…

Barchart

S&P Futures Climb on Hopes of Middle East Conflict Resolution, U.S. ADP Jobs Report and Retail Sales Data on Tap

June S&P 500 E-Mini futures (ESM26) are trending up +0.51% this morning as oil prices fall and risk appetite improves on hopes for an imminent end to the conflict in the Middle East.

Evening Standard

Starmer signals need for closer ties with EU in light of Iran oil crisis ‘storm’

Britain’s “long-term national interest requires closer partnership with our allies in Europe”, Sir Keir Starmer has said.

The Independent UK

Stopgap measures aren't enough to halt rising gas prices as the world scrambles for more oil

Global leaders have been scrambling to contain the rising cost of oil and gasoline since the start of the Iran war

The Independent UK

South Korea president says Iran war shows the need to ditch ‘extremely risky’ fossil fuels

Lee Jae Myung warns situation caused by US-Israeli war against Iran is ‘worse than you think’

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