Oil Prices Surge to $103+ Per Barrel Amid Iran Tensions and Strait of Hormuz Disruptions
AI SummaryGotrade2h agoUnited States
Image: Gotrade
•Brent crude oil prices rose 3.2% to USD 103.42 per barrel, while US oil prices increased 2.9% to USD 96.21 per barrel due to Strait of Hormuz tensions and reduced vessel movement.
•The Trump administration plans to ease sanctions on Venezuela's oil sector by issuing permits for foreign companies, aiming to boost crude production and counter soaring prices.
•
Global oil markets remain volatile as the Strait of Hormuz, through which 13 million barrels pass daily, faces ongoing disruptions from the Iran conflict.
• US Central Command announced military strikes on Iranian missile sites located near the Strait of Hormuz using bunker buster weapons.
• The strikes target Iran's military infrastructure and represent an escalation in the three-week conflict between the US and Iran.
• The Strait of Hormuz remains a critical global shipping route through which approximately 13 million barrels of oil pass daily.
• US President Donald Trump attacked NATO allies on March 17, accusing them of making a "very foolish mistake" by refusing to help reopen the Strait of Hormuz amid tensions with Iran.
• French President Emmanuel Macron rejected Trump's calls for NATO involvement, saying France would "never" participate until the situation stabilized, with most other US allies similarly declining.
• Trump framed the rebuff as a test of NATO's reliability, questioning whether the alliance would support the United States when needed.
• Iranian rescue workers are conducting daily recovery operations amid a relentless barrage of US and Israeli air strikes across Tehran, with local authorities reporting over 1,300 deaths.
• Rescue team members report working 2 to 10 call-outs per day since the war began, risking secondary explosions while extracting bodies—including children—from rubble.
• The Iranian Red Crescent Society workers face severe psychological trauma and show no signs of respite as strikes continue with no prospect of de-escalation.
As Iran war drives up cost concerns, thinktank says £3.7bn discount system should be developed before next winterThe UK government is facing calls to spend almost £4bn to launch a “social tariff” providing cheaper energy for poor households amid growing concerns over the Iran conflict.As households brace for an increase in living costs, the Resolution Foundation said ministers should develop a system of discounted domestic energy bills in time for next winter to protect the most vulnerable households. Continue reading...
A 2006 Guardian interview with Iran’s slain security chief now reads as a grim warning of the conflict that killed himDeep down, Ali Larijani always believed that the western powers were bent on destroying Iran’s revolutionary regime, for which he had fought on the battlefield.The prescience of that inner conviction has now been vindicated in lethal fashion as Larijani has become the latest establishment figure to die at the hands of Israel, killed in an apparently targeted airstrike, according to reports.Robert Tait was the Guardian’s correspondent in Tehran from February 2005 until December 2007 Continue reading...
Exclusive: finding out who owns land will become simpler under plans to make the best use of green spaces and hit net zero targetsFinding out who owns land in England is to become much simpler because a paywall will be lifted from large parts of the Land Registry, the government is to announce.A small number of landowners control the majority of land but finding out who owns what is difficult to piece together, even for government departments, owing to the way the Land Registry operates. Freeing up access will make it easier to determine ownership of key areas, such as river catchments, grouse moors and peatland. Continue reading...
Aircraft carrier has been participating in strikes on Iran, after previously taking part in the operation to seize Venezuela’s president Nicolás MaduroA fire onboard the USS Gerald R Ford, injuring sailors and destroying 100 beds, is the latest mishap to plague the world’s largest aircraft carrier on a marathon deployment some argue has sapped crew morale.At sea for almost nine months, and currently stationed in the Red Sea to support the war on Iran, the carrier will reportedly set sail for Crete for repairs. Continue reading...
Show in part a rediscovery of more than 40 mostly forgotten women who plied their trade in the Low CountriesJudith Leyster, an artist of the Dutch golden age, was thought to be about 21 when she painted her self-portrait in 1630. In the picture she presented to the world, Leyster exudes cheerful confidence. Clad in shimmering silks and a stiffly starched lace collar, she leans back in her chair, palette and brushes in hand, a painting by her side.This work, completed in the year she was admitted to a painters’ guild in Haarlem, proclaimed her arrival as an established artist. It was one of the first self-portraits by an artist in the Dutch republic, a device most male painters did not adopt until years later. Continue reading...
Dispute between government and US-based contractor caused 18-month delay to project, report findsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastMyki cards will still be needed by Victorian public transport users until 2027 due to delays to the full rollout of tap-and-go technology, the state’s auditor general has revealed.A report by the Victorian Auditor-General’s Office (Vago) found a dispute between the state’s transport department and US-based firm Conduent had delayed the project by 18 months, adding $136.8m to its cost. Continue reading...
House to consider amendment that would pardon women in England and Wales affected by prior ‘unjust’ lawsWomen who have been arrested, investigated and convicted under abortion legislation in England and Wales “must not be left behind” if the law is changed to prevent women being criminalised in future, campaigners have said.Last summer, the House of Commons voted to end the criminalisation of women who terminate their pregnancies outside the legal framework, through a new clause in the crime and policing bill. Continue reading...
Evanston mayor Daniel Biss and Cook County commissioner Donna Miller were among those who came out on top in the elections ahead of the midtermsDemocratic voters in Illinois handed the party’s nominations for five open seats in the House of Representatives to candidates that included Evanston mayor Daniel Biss and Cook County commissioner Donna Miller, after heated and at times bitter campaigns that saw significant spending by outside groups, most controversially the American Israel Public Affairs Committee (Aipac).The primaries acted as a test of the style of politics voters were looking for ahead of the midterm elections in November, when Democrats hope to regain control of Congress. All five districts are heavily Democratic, making the primary victors favorites to triumph in the general elections. Continue reading...