A sign saying “Sorry, No Petrol” on the forecourt of a BP service station during a fuel shortage in London on Feb 9, 1971. Evening Standard | Hulton Archive | Getty Images This report is from this week’s CNBC’s UK Exchange newsletter. Like what you see? You can subscribe here. The dispatch For Britons of a…
This photo shows a view of LyondellBasell refinery near the Houston Ship Channel, part of the Port of Houston, on April 29, 2026. Ronaldo Schemidt | AFP | Getty Images Oil prices fell on Wednesday after President Donald Trump said the U.S. would pause its naval escort effort in the Strait of Hormuz, raising hopes…
Veiled pro-government supporters stand in a line under a banner depicting portraits of Iran’s late Supreme Leader Ayatollah Ali Khamenei and Ayatollah Mojtaba Khamenei, as they wait to receive donated meals during a state-run religious rally in downtown Tehran, Iran, on April 29, 2026. Nurphoto | Nurphoto | Getty Images Up until the weekend, global…
In an aerial view, the Marathon Petroleum Corp’s Los Angeles Refinery is seen on April 2, 2026 in Carson, California. Justin Sullivan | Getty Images Oil prices declined on Tuesday as traders assessed the risk of immediate supply disruptions amid renewed tensions between the United States and Iran. International benchmark Brent crude futures dipped 1.3% to…
The Ateela 2 Oil Tanker boat navigates the sea on April 28, 2026 on Qeshm Island, Iran in the Strait of Hormuz. Asghar Besharati | Getty Images Oil prices fell in choppy trade Monday, as market participants assess U.S. President Donald Trump’s announcement to “free” ships that have been trapped due to the closure of…
Jonathan Raa | Nurphoto | Getty Images OPEC+ has agreed an increase in oil output of 188,000 barrels per day, the cartel said on Sunday, as it pushes on with production in the first meeting since the loss of its key member, the United Arab Emirates. The group of seven major oil producers announced it…
Ferrari SF90 XX Spider limited edition plug in hybrid supercar parked on the pavement as a red Ferrari passes on Bond Street on 4th January 2026 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images A global base oils shortage is starting to filter through to drivers of luxury cars, with analysts…
United States Marine Corps soldiers seen staged outside of the Federal Building in downtown Los Angeles during the ‘No War On Iran’ protest after conflicts arise with Iran and Israel on June 19, 2025 in Los Angeles, United States. Anadolu | Anadolu | Getty Images Oil prices climbed Friday, a day after a volatile session…
U.S. President Donald Trump exits Air Force One as he arrives at Miami International Airport in Florida, U.S., April 11, 2026. Kevin Lamarque | Reuters President Donald Trump on Thursday is set to receive a briefing from U.S. Central Commander Adm. Brad Cooper and other military leaders on potential strikes in Iran, Axios and Reuters…
Fuel prices are displayed at a service station in Paris showing high gasoline and diesel costs due to the war in Iran, on April 8, 2026. Stephane Mouchmouche | Afp | Getty Images The euro zone economy expanded by a meager 0.1% in the first quarter of the year, preliminary data showed on Thursday, as…
