The Latest Breaking News from Oil

Oil prices soared and stocks sank Friday after Israel launched strikes on Iran, prompting retaliation from Tehran and stoking fears of a full-blown war.

A federal appeals court panel has refused to vacate the approval of the massive Willow oil project on Alaska’s petroleum-rich North Slope

Losses accelerated in afternoon trading amid reports Iran retaliated against Israel.

JPMorgan says oil prices will likely remain in the low- to mid-$60 range despite the Israel-Iran conflict. But the worst-case scenario could push Brent crude up to $130.

Iran is one of the world’s major producers of oil and if a wider war escalates, it could slow the flow of its oil to its U.S. customers

The FTSE 100 index closed down 34.29 points, 0.4%, at 8,850.63.

The 10-year Treasury yield jumped 6.9 basis points on Friday to $4.426, reversing a dip in the immediate aftermath of the attacks.

Robin Energy stock soared on Friday after Israel launched a major airstrike on Iran. RBNE shares remain unattractive as their price action today resembles that of meme stocks.

Acting shadow energy minister Andrew Bowie accused the UK Government of ‘overseeing the wilful deindustrialisation of this nation’.

COMMENT : Oil prices jumped on the news of the extraordinary attacks, posing the risk of inflation, while gold surged and share prices fell. So far, so familiar, writes James Moore – but there’s a reason investors should hold their nerves

July WTI crude oil (CLN25 ) is up +4.20 (+6.17%), and July RBOB gasoline (RBN25 ) is up +0.0825 (-3.85%). Crude oil prices initially soared by +11% after news that Israel launched a major military strike on Iran, although prices have since fallen back and are currently up about +6%....