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Economy

Oil stocks drain at record pace as IEA warns of renewed price swings

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Iran

Trump holds talks on Iran with security team, White House says

Meanwhile, Tehran has blamed the US for the failure of talks after Trump decided against sending a negotiating team to Pakistan at the weekend.

Climate

'No more windmills!’: Why Trump’s call for North Sea oil is misguided

Donald Trump’s latest attack on renewables has reignited calls to drill the North Sea for oil – despite research showing it won’t lower energy bills.

Iran

US and Iran announce Strait of Hormuz open, Trump hints at wider deal

Iran and US declare Strait of Hormuz "completely open," but Iran adds that passage is on a "coordinated route" set by Tehran.

Iran

Hormuz standoff shows no sign of letting up for shipping to resume

Maritime traffic in the Strait of Hormuz remained at minimal levels on Friday resulting in a giant parking lot, as the US-Iran standoff continues with the same cautious approach since Monday.

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Iran

Trump says US military blockaded Iranian ports to pressure Tehran

The US blockade comes in an attempt to economically pressure Iran to reopen the Strait of Hormuz to maritime traffic after its six-week closure caused global oil prices to surge. Roughly 40 vessels have passed through since the start of the ceasefire, down from 100 or more per day before the war.

Iran

US blockade of Iran's ports starts as Trump threatens Tehran's navy

In a social media post on Sunday, Trump said his goal was to clear the Strait of Hormuz of mines and reopen it to all shipping, but that Iran must not be allowed to profit from controlling the key cargo waterway.

Europe News

What impact could an Iran ceasefire have on energy prices?

The announcement of a two-week ceasefire in the Middle East has triggered an immediate drop in oil and natural gas prices, raising hopes for lower energy bills. However, consumers might not see the effects for several months, even though the oil industry has issued some optimistic forecasts.

Japan

Macron lauds Europe's 'predictability' in apparent swipe at Trump

Macron's office had expressed surprise at Trump's criticism of France for not letting planes carrying military supplies for the conflict fly over its territory.

Europe News

EU urges countries to remain aligned to cope with market volatility

Energy Commissioner Dan Jørgensen emphasized that EU unity is crucial to managing the energy crisis, with oil up 70% and natural gas 50%, raising concerns over supply security.

Iran

Trump tells allies to ‘go get your own oil’ amid Iranian Gulf attacks

Trump's comments come on the same day that gas prices in the US jumped past an average of $4 for the first time since 2022 as fuel prices continue to spike worldwide.

Iran

Trump threatens to destroy Iran's Kharg Island if deal not made soon

About 90% of Iran’s crude oil exports leave the country via the small island in the Persian Gulf's north, much of it destined for China and other Asian markets.

Europe Today

EU fisheries ‘under strain’ as conflict and costs bite, warns Kadis

Kadis warned of growing anxiety among EU governments as costs rise and markets remain volatile. “There’s real nervousness across the sector."

Markets

European markets mixed as Iran tensions push oil prices higher

Brent crude has jumped more than 50% since the Iran conflict began, as Asian markets fall and European stocks follow suit.

No Comment

Mexico races to clean crude from Veracruz coastline

Cleanup crews and navy personnel remained deployed along Mexico’s Gulf coast on 26 March after crude oil polluted beaches in Veracruz and Tabasco. Authorities said 128 tonnes of contaminated waste had been removed, while the source remains under investigation.

Cuba

Cuba readies for first Russian oil shipment of year amid energy crisis

Analysts say the shipment could produce about 180,000 barrels of diesel, enough to meet Cuba's daily needs for up to 10 days.

Business

Five European nations and Japan to 'contribute' to Hormuz security

The conflict around the Strait of Hormuz is starting to draw in global powers, as disruptions to shipping and energy flows raise concerns about wider economic fallout.