Oil prices have surged back above $100 per barrel after Donald Trump announced a blockade of the Strait of Hormuz, sharply escalating tensions in global energy markets.
The US will start a blockade of the Strait of Hormuz
The United States will begin a blockade of the Strait of Hormuz after peace talks with Iran collapsed, according to Donald Trump. Under the proposed measures, no vessels will be
Oil prices jump as Trump accuses Iran of breaching Hormuz agreement
North Sea oil prices have surged to record levels after Donald Trump accused Iran of breaching an agreement to reopen the Strait of Hormuz.
Oil nears $100 as uncertainty lingers over Hormuz flows
Oil prices are once again approaching the $100 mark, reversing much of the sharp decline seen earlier in the week. On Wednesday, Brent crude briefly fell to around $91, but
Diesel tops 190p as oil prices remain elevated
UK fuel prices have continued to climb, with diesel now exceeding 190p per litre as higher oil costs feed through to consumers.
Oil plunges below $100 as ceasefire eases market tensions
Oil prices tumbled sharply after Donald Trump and Iran agreed to a two-week ceasefire, pausing more than a month of conflict and allowing the reopening of the Strait of Hormuz.
FTSE slips as markets brace for Trump’s Iran deadline
Britain’s FTSE 100 edged lower on Tuesday as investors positioned cautiously ahead of a key deadline set by Donald Trump in the Iran conflict.
Gulf states consider pipeline network to bypass Strait of Hormuz
The sustained closure of the Strait of Hormuz, now extending beyond four weeks, represents a critical inflexion point for global energy markets and geopolitical strategy. With more than 20 million
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.