Energy 2 March 2026 - 5 March 2026

Iran Says Lavan Oil Refinery Hit, Israel Denies Role as Ceasefire Faces Early Test
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Iran Says Lavan Oil Refinery Hit, Israel Denies Role as Ceasefire Faces Early Test

Iran reported an "enemy attack" on its Lavan Island oil refinery Wednesday, igniting a fire but causing no injuries, days after a U.S.-Iran ceasefire was announced. Israel denied involvement. Brent crude fell 16% to $91.80 as traders anticipated Hormuz reopening, despite ongoing strikes on energy sites in the region. Shipping firms said full operations could take weeks to restore, with around 1,000 vessels still stranded.
April 8, 2026
BP caught in UK windfall tax limbo as Reeves flags Iran war price spike
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BP caught in UK windfall tax limbo as Reeves flags Iran war price spike

UK finance minister Rachel Reeves said Wednesday that the Middle East conflict has made it harder to predict when Britain will end its windfall tax on North Sea oil and gas profits. BP faces renewed uncertainty as the tax remains in place while energy prices surge. Cornwall Insight forecasts the UK household energy price cap will rise about 10% in July, after gas prices jumped more than 70% in a week. BP shares fell 2.38% in London trading.
March 5, 2026
Dollar back in favor as Iran war jolts energy prices and flips euro bets
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Dollar back in favor as Iran war jolts energy prices and flips euro bets

Options traders pushed the euro to its weakest in over a year as Europe’s energy crisis deepened and the Iran war lifted oil prices. The dollar index touched its highest since November before easing 0.3% to 98.83 Wednesday, while the euro rose 0.2% to $1.1632. Funds cut short-dollar trades, and strategists warned of a potential funding squeeze if demand for dollars intensifies.
March 5, 2026
Heating oil price jumps above $3.25 as Hormuz disruption keeps fuel traders on edge
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Heating oil price jumps above $3.25 as Hormuz disruption keeps fuel traders on edge

NYMEX April ULSD futures rose 2.2% to $3.2584 a gallon Wednesday as Middle East tensions stalled shipping through the Strait of Hormuz for a fifth day. U.S. distillate inventories increased by 0.4 million barrels last week but remain 3% below the five-year average, according to the EIA. Traders are watching Gulf shipping, Friday’s U.S. jobs report, and next week’s EIA update.
March 4, 2026
Natural gas price drops after Tuesday rally as traders eye EIA storage report, Cameron LNG restart
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Natural gas price drops after Tuesday rally as traders eye EIA storage report, Cameron LNG restart

U.S. April Henry Hub natural gas futures dropped 3.41% to $2.95/mmBtu by midday Wednesday, reversing part of Tuesday’s gains. Warmer U.S. weather forecasts and weaker LNG feedgas flows pressured prices despite ongoing Middle East risks. Leveraged gas ETFs BOIL fell 7.29% and KOLD rose 7.21%. Traders await Thursday’s U.S. storage report for the week ended Feb. 27.
March 4, 2026
Oil nears $85 as Hormuz crisis drags on and stocks slide again
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Oil nears $85 as Hormuz crisis drags on and stocks slide again

Brent crude rose 3.3% to $84.07 a barrel as fighting in the Strait of Hormuz disrupted oil flows and Iraq cut output by 1.5 million barrels per day. South Korea’s Kospi dropped 12%, triggering a brief trading halt, while Japan’s Nikkei lost 3.9%. Europe’s STOXX 600 fell over 3% Tuesday, led by banks and insurers. Money markets slashed bets on a March Bank of England rate cut as energy prices surged.
March 4, 2026
Mineral Resources share price slips after CSI record update runs into oil shock, rate-hike jitters
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Mineral Resources share price slips after CSI record update runs into oil shock, rate-hike jitters

Mineral Resources shares closed 0.6% lower at A$55.71 in Sydney after trading between A$54.83 and A$57.56. The company reported record first-half volumes and a 29% jump in Mining Services EBITDA to $488 million. The stock remains volatile, having dropped 6.1% in the previous session. Investors are watching oil prices and rate expectations ahead of the RBA’s March meeting.
March 4, 2026
ScottishPower CEO blasts UK wind auction rules, jabs Ørsted as customer complaints pile up
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ScottishPower CEO blasts UK wind auction rules, jabs Ørsted as customer complaints pile up

ScottishPower CEO Keith Anderson criticized UK offshore wind auction rules after the company’s East Anglia ONE North project lost out to RWE-backed Dogger Bank South in the government’s latest subsidy round. Anderson warned the rules favor projects without planning consent, raising delivery risks. The government awarded contracts for 8.4 GW of offshore wind in Allocation Round 7.
March 3, 2026
Heating oil price today: ULSD futures jump 13% above $3 as Hormuz disruption squeezes diesel
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Heating oil price today: ULSD futures jump 13% above $3 as Hormuz disruption squeezes diesel

NY Harbor ULSD futures jumped 13.45% to $3.29 a gallon Tuesday as Middle East shipping disruptions tightened distillate supplies. Brent crude rose 7.8% to $83.81 a barrel, and U.S. diesel futures topped $3 for the first time since November. Tanker traffic slowed in the Strait of Hormuz after attacks on ships. President Trump was set to review U.S. policy options to address rising energy prices.
March 3, 2026
Oil prices surge 8% as Strait of Hormuz disruption deepens; Brent tops $83
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Oil prices surge 8% as Strait of Hormuz disruption deepens; Brent tops $83

Oil prices jumped about 8% Tuesday as the U.S.-Israel air war against Iran blocked shipments through the Strait of Hormuz, now closed for a fourth day. Brent hit $83.81 a barrel, its highest since July 2024, while U.S. gasoline and diesel futures surged past $3 a gallon. Iraq cut output by over 1 million barrels per day. President Trump is reviewing options to control energy prices, including use of the Strategic Petroleum Reserve.
March 3, 2026
Natural gas price today jumps nearly 6% as Qatar LNG halt and Hormuz risks ripple through markets
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Natural gas price today jumps nearly 6% as Qatar LNG halt and Hormuz risks ripple through markets

U.S. April natural gas futures jumped 5.6% to $3.125 per mmBtu Tuesday as traders reacted to LNG supply disruptions and shipping risks from the Iran conflict. Qatar halted LNG output after strikes at Ras Laffan, and Iran declared the Strait of Hormuz closed. European gas prices surged nearly 50% Monday. Market attention now shifts to Thursday’s U.S. storage data and temperature forecasts.
March 3, 2026
Oil hits 19-month high as Iran war rattles global stocks and delays rate-cut hopes
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Oil hits 19-month high as Iran war rattles global stocks and delays rate-cut hopes

Global stock markets fell sharply Tuesday as the U.S.-Israeli conflict with Iran disrupted oil shipping and pushed Brent crude up 7% to $83.44 a barrel. The FTSE 100 dropped 2.6%, Japan’s Nikkei 3.1%, and South Korea’s Kospi 7.2%. UK gas prices jumped 30% after Iran attacked five ships in the Strait of Hormuz, halting most tanker traffic. Investors delayed expectations for central bank rate cuts in the UK and U.S.
March 3, 2026
TPET stock price: Trio Petroleum jumps again in premarket as oil shock feeds tiny energy names
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TPET stock price: Trio Petroleum jumps again in premarket as oil shock feeds tiny energy names

Trio Petroleum shares jumped 39% to $1.55 in premarket trading Tuesday, extending Monday’s surge after U.S. and Israeli strikes on Iran pushed oil prices higher. Brent crude rose over $3 as traders focused on shipping risks near the Strait of Hormuz. Trio aims to bring two Alberta wells online soon after regulatory approvals. The company recently converted $1.2 million in notes to stock and has an active at-the-market sale program.
March 3, 2026
Woodside Energy share price closes higher as oil, LNG shock markets — what to watch next for ASX:WDS
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Woodside Energy share price closes higher as oil, LNG shock markets — what to watch next for ASX:WDS

Woodside Energy shares closed up 0.8% at A$30.48 in Sydney after volatile trading, with about 9.33 million shares changing hands. The gain followed a surge in oil and LNG prices after U.S. and Israeli strikes on Iran raised fears of disruption through the Strait of Hormuz. Brent crude traded near $79 a barrel, while LNG freight rates and spot prices jumped sharply. Investors are watching ex-dividend timing and the next quarterly update.
March 3, 2026
Oil jumps, gas surges after Iran strikes shut Qatar LNG as Hormuz shipping stalls
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Oil jumps, gas surges after Iran strikes shut Qatar LNG as Hormuz shipping stalls

Qatar halted LNG production after Iranian drone strikes hit Ras Laffan and Mesaieed, threatening about 20% of global LNG supply. Brent crude spiked above $82 a barrel, and Europe’s gas benchmark jumped over 40%. Marine insurers withdrew war-risk cover, leaving around 150 ships stranded near the Strait of Hormuz. Maersk suspended transits through Hormuz and the Suez Canal.
March 2, 2026
Oil prices jump on Hormuz disruption as Brent holds above $77, WTI gains 5%
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Oil prices jump on Hormuz disruption as Brent holds above $77, WTI gains 5%

Brent crude rose 5.8% to $77.12 a barrel Monday as shipping through the Strait of Hormuz slowed and insurers raised rates after drone attacks in the Gulf. Qatar halted LNG output and Saudi Arabia shut its Ras Tanura refinery as a precaution. OPEC+ agreed to a modest output increase, but tanker flows dropped sharply. U.S. officials are not considering a release from the Strategic Petroleum Reserve.
March 2, 2026
Heating Oil price surges to two-year high as Hormuz disruption hits diesel supply
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Heating Oil price surges to two-year high as Hormuz disruption hits diesel supply

NYMEX heating oil futures surged nearly 14% to a two-year high Monday after Middle East strikes and retaliation disrupted shipping near the Strait of Hormuz. About 150 ships were stranded and at least three vessels struck, according to Reuters. Diesel outpaced crude gains, with front-month ULSD up 36 cents at $2.9561 a gallon. Traders await Wednesday’s U.S. fuel inventory report.
March 2, 2026
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