The US Department of Justice is investigating around $2.6 billion (£1.9 billion) of suspicious oil trades allegedly linked to developments in the Iran conflict.
Diesel tops $200 a barrel as Iran conflict drives surge
Europe’s benchmark diesel contract has climbed above $200 a barrel for the first time since Russia’s invasion of Ukraine, as the Iran conflict shows little sign of easing.
Reeves backs North Sea drilling amid cabinet tensions
Chancellor Rachel Reeves has voiced support for new North Sea oil and gas drilling, a stance likely to heighten tensions with Energy Secretary Ed Miliband.
Global Oil Supply Crisis Deepens As Iran Conflict Accelerates Energy Market Shock
The world is confronting an unprecedented energy crisis as geopolitical tensions in the Middle East threaten to eliminate substantial portions of the global oil supply. The ongoing conflict has already
UK energy bills set to jump as conflict drives costs higher
Household energy bills are expected to rise sharply from July, as the Middle East conflict continues to push up wholesale prices.
Wall Street opens higher as Trump signals fresh Iran talks
US equities opened higher on Monday after Donald Trump signalled “serious discussions” with Iranian leaders.
Oil surges above $116 as Middle East tensions escalate
Oil prices have climbed sharply, with Brent crude rising above $116 a barrel, its highest level in nearly two weeks, as the conflict in the Middle East intensifies.
Diesel hits highest level since 2022 as fuel costs surge
UK fuel prices have surged again, with diesel reaching its highest level since Christmas 2022 amid the ongoing Iran-driven energy shock.
UK fuel prices keep climbing as diesel surges
Fuel costs continue to rise across the UK, with diesel seeing the sharpest increases since the start of the Middle East conflict.
Iran crisis pushes markets to a critical turning point
The escalating confrontation between the US and Iran has brought global markets to a pivotal moment, with risks extending far beyond geopolitics.
Oil plunges as markets rally on hopes of Iran deal
Oil prices tumbled and stocks rebounded after Donald Trump signalled progress in talks with Iran.
Fuel costs surge as drivers face expensive Easter
UK drivers are facing another hit at the pumps, with fuel prices climbing sharply amid ongoing tensions in the Middle East.