All news on the topic: Oil prices

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UK borrowing costs surge as oil tops $100 amid Iran conflict
UK borrowing costs soared yesterday amid a global bond market rout sparked by a surge in the oil price back above $100.
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Trump announces US takeover of Strait of Hormuz with 20% cargo fee
President Donald Trump on Monday said the U.S. will take over the Strait of Hormuz — and will be reimbursed “at the rate of 20% on all cargo shipped” for overseeing one of the world’s most critical oil passageways that has been at the center of the U.S.’s re-escalating war with Iran.
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US strikes have obliterated Iranian drone and missile facilities during a fierce battle to secure the Strait of Hormuz
US forces decimated Iran’s drone and missile sites in their latest efforts to keep the Strait of Hormuz secure for transiting cargo ships.
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Trump declares Iran ceasefire “over” after attacks on US military bases
Donald Trump has declared the ceasefire with Iran is “over” after the regime targeted US military bases in the Middle East overnight.
521
Europe’s STOXX 600 hits record high after US-Iran deal lifts market mood
Europe’s STOXX 600 hit a record high on Monday, boosted by a relief rally across most sectors after the United States and Iran reached a preliminary agreement ‌that would open the Strait of Hormuz and end the three-month-long war in the Middle East.
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EasyJet absorbs £25 million fuel hit as Middle East war sends oil prices soaring, CEO reassures travellers
The EasyJet CEO has assured customers they can "book with confidence" despite revealing the firm’s finances will be hit due to war in the Middle East, which is driving up fuel costs and creating "near-term uncertainty".
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Stocks and bonds sell off as oil shock from Middle East conflict rattles investors
Global stocks and bonds were sold off on Friday as concerns over a lasting inflationary impact from the Middle East conflict led traders to anticipate higher US interest rates.
632
UAE quits OPEC in shock move that could slash oil prices and hit Russia’s war budget
On May 1, the United Arab Emirates formally exited OPEC without prior notice to its partners, a move widely seen as the culmination of years of friction with Saudi Arabia over production quotas and regional policy.
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UK braces for shortages as Iran war shuts vital oil route and drives prices higher
The Government is intensifying its planning to address potential shortages caused by the conflict in Iran
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Safe sex costs may rise as war disrupts production of key materials, CEO says
Safe sex could get more expensive if the Iran war continues to disrupt global supply chains, according to a new interview with the CEO of the world’s largest condom manufacturer.
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‘Critical diplomatic moment’ as Iran truce deadline nears, warns Cooper
Foreign Secretary Yvette Cooper has said “a critical diplomatic moment” is approaching as the end of a two-week US-Iran ceasefire draws near.
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UK economy on brink as Iran blocks Strait of Hormuz and energy prices surge
Two reports from top accounting firms suggest the economy is on the brink as gas and oil prices surge following Tehran’s blockade on the Strait of Hormuz.
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UK denies Trump’s claim that British ships were hit in the Strait of Hormuz
There were no reports of any attacks on UK-linked vessels yesterday despite Donald Trump claiming that Iran fired at a British cargo ship.
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UK growth downgraded most in G7 as energy shock from Iran war fuels inflation and job losses
The economic fallout from the Iran war will hit the UK the hardest out of all the world’s advanced economies, the International Monetary Fund (IMF) has warned.
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Dozens feared dead as panic erupts at Haiti’s Unesco-listed citadel
At least 30 people, many of them young, have died and dozens more are reported to have been injured after a crush at a mountaintop fortress in northern Haiti that is a popular tourist spot.
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Hormuz standoff drives oil rally as Trump accuses Iran of breach
North Sea oil prices have soared to a record high as panicking traders rush to secure vital supplies while the Strait of Hormuz remains shut.
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Wall Street firm pays analyst $15,000 to infiltrate Strait of Hormuz for trading insights
A Wall Street research firm has paid an analyst $15,000 to venture to the Strait of Hormuz by speedboat, armed with cigars and tobacco pouches in order to gain trading insights.
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Airlines slash flights worldwide as Iran war sends fuel costs soaring and supply shrinking
Airlines across the globe are canceling thousands of flights following the conflict in Iran, which has led to jet fuel prices more than doubling.
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Starmer authorizes military to seize Russian oil tankers in bold escalation
British Prime Minister Keir Starmer said on Wednesday he has given the military permission to board and detain Russian ships his government alleges are part of a network of vessels that enables Moscow to export oil despite ‌Western sanctions.
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Europe could face energy shortages next month if Strait of Hormuz remains closed
Europe could face a shortage of energy and fuel as soon as next month without a reopening of the Strait of Hormuz, Shell’s chief executive has said.
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Trump ‘surprised’ as Starmer refuses to immediately send UK warships to Hormuz
Donald Trump has once again criticized Keir Starmer, stating that the UK should be "enthusiastically" helping to reopen the Strait of Hormuz.
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Oil tanker engulfed in flames after Gulf strike as crude surges past $100
Iran has warned that oil could reach $200 a barrel as its attacks on ships intensify in the Middle East.
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EU contemplates removing 20 banks from SWIFT in new sanctions against Russia
The European Union is considering cutting more than 20 banks from SWIFT and lowering price cap on Russian oil
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Aramco reports $121 billion profit as lower energy prices see drop in revenues
Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices
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European Central Bank unlikely to cut interest rates as economy stalls
Europe's energy crisis sparked by Russia's war in Ukraine has eased and Inflation is down from its painful double-digit peak, but there likely won't be an interest rate cut at the European Central Bank's meeting
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