Oil

Shahid Bagheri leaking fuel towards Hara mangrove forest, home to migrating birds and endangered turtlesMiddle East crisis – live updatesAn oil slick from a stricken Iranian ship threatens to contaminate one of west Asia’s most important wetlands, satellite image analysis suggests, one of a number of spills posing a threat to the livelihoods of coastal communities in the Gulf.The Shahid Bagheri, an Iranian drone carrier, began leaking heavy fuel oil in Iranian territorial waters near the strait of Hormuz about a month ago, after it was hit by a US warplane in the first few days of the US-Israel attack on Iran. Continue reading...

Lawmakers led by Elizabeth Warren in scathing letter say system used to track detainees ‘increasingly unreliable’A group of 36 lawmakers says the Department of Homeland Security (DHS) has created “disappearances” on US soil, due to the “increasingly unreliable” online system used to track people detained by immigration authorities, according to a letter shared with the Guardian.The lawmakers, led by Senators Elizabeth Warren, are urging that the DHS inspector general’s office open an investigation into the Immigration and Customs Enforcement (ICE) “online detainee locator system” (ODLS), which has been used for years by family members, attorneys and journalists to track people in the federal immigration detention system. Continue reading...

Mixed stock market reaction to president’s comments, while IMF chief warns of inflation and slower growthBusiness live – latest updatesOil traded at more than $110 a barrel on Tuesday after Donald Trump said all of Iran could be “taken out” in one night.Brent crude, the international benchmark for oil prices, rose by 1% to $111 a barrel. New York light crude rose 2.6% to $115.3 a barrel. Continue reading...

• The S&P 500 fell 2% for its fifth consecutive weekly decline, the first such streak since 2022, amid Mideast conflict de-escalation hopes. • Brent crude rose to $112 per barrel, with U.S. 10-year yields climbing to 4.43% on inflation fears from sustained high energy prices. • BlackRock warns elevated oil could shift focus from rate cuts to whether central bank policies can match rising inflation.

• US stock indexes showed mixed performance on Monday morning with S&P 500 up 0.1%, Dow down 0.1% or 46 points, and Nasdaq up 0.3% amid ceasefire mediation efforts. • President Trump threatened to bomb Iranian power plants and bridges by Tuesday if the Strait of Hormuz remains closed, stating 'you’ll be living in Hell - JUST WATCH!' on social media. • Gasoline prices hit $4.12 per gallon nationally, up from below $3 before late February US-Israel attacks, pressuring the economy despite strong March jobs data.

• Oil prices spiked sharply as geopolitical tensions escalated between Iran and the United States following military confrontations. • The U.S. dollar recovered against major currencies as investors sought safe-haven assets amid rising uncertainty. • Energy markets remain volatile with traders closely monitoring developments in Middle East tensions and their impact on global supply chains.

• Somalia announced plans for historic oil drilling operations, marking a significant economic development for the Horn of Africa nation. • The initiative carries substantial geopolitical weight as it could reshape regional influence and resource control in East Africa. • Industry analysts view the project as transformative for Somalia's economy and a potential catalyst for regional stability or tension.

• Oil prices surged as geopolitical tensions related to the Iran war intensified, with the Strait of Hormuz blockade causing the largest global oil supply disruption since the 1970s energy crisis. • The US dollar strengthened amid escalating geopolitical risk, reflecting investor flight to safe-haven assets as financial markets react to the conflict's economic impact on energy supplies and global trade.

Members reportedly agree rise of 206,000 barrels a day in May but move symbolic with strait of Hormuz effectively closedMiddle East crisis – live updatesIranian drones struck Kuwait’s oil infrastructure on Sunday, causing “severe material damage” that threatened to further disrupt oil supplies already hit by the US and Israel’s war with Tehran.It came hours before members of the Opec+ group that represents major global oil suppliers gathered to discuss how to bolster output despite Iran’s effective closure of the crucial strait of Hormuz shipping route. Continue reading...

• The US Treasury Department imposed sanctions on April 5, 2026, against three Venezuelan oil executives accused of funding electoral fraud that displaced 200,000 migrants toward the US border. • Targets include PDVSA Vice President Carlos Vargas, with assets frozen and US travel bans; Secretary Blinken noted, 'These actions undermine democracy and fuel instability.' • Measures aim to pressure Maduro regime amid humanitarian crisis, where 8 million Venezuelans have fled since 2015, straining US border resources.