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The Latest Breaking News from Energy

UK warned it must ‘urgently’ drill in North Sea to boost oil and gas supplies

A new report from OEUK urges the British Government to safeguard the nation's energy supply amid global instability

The Independent UK

Over 400 million barrels will be added to the oil market soon – what are strategic reserves and what can they do?

In the second week of the Iran war – with the Strait of Hormuz effectively closed, cutting off shipping of 20% of the world’s oil supply – the International Energy Agency announced the largest release of strategic oil reserves in history. Thirty-two countries will sell a combined 412 million barrels…

The Conversation

Keir Starmer to chair Cobra meeting after Donald Trump call on Iran crisis

The Prime Minister and the US president agreed reopening the Strait of Hormuz was ‘essential’ to stabilise a global energy market.

Evening Standard

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Keir Starmer to hold Cobra meeting as Iran war economic fears grow

Ministers will discuss energy security and the resilience of industry and supply chains.

Evening Standard

No welcome mat for thirsty, energy-hungry data centres

Priority treatment will be afforded to water- and energy-conscious data centres, though some critics want stricter rules on technology companies.

AAP

Trump officials announce 10-gigawatt data center, gas plants for former Ohio uranium site

The U.S. Department of Energy has announced a public-private partnership with SoftBank and AEP Ohio to develop a massive artificial intelligence data center and power complex at a former uranium enrichment site in southern Ohio

The Independent UK

Labor considers windfall gas tax amid Iran price spike

A new tax on extraordinary gas profits caused by the Middle East conflict could raise an extra $27 billion per year for the federal budget, advocates say.

AAP

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The 2 Top Energy Stocks to Buy Now for Shelter in the Oil Price Storm

As oil supply disruptions return to center stage, these two energy stocks could emerge as timely winners in a shifting market landscape.

Barchart

‘Sheer fantasy’: Why drilling the North Sea for oil won’t lower Europe’s soaring energy bills

Escalating conflict in the Middle East has emboldened calls for the UK to open up North Sea drilling licences.

Euronews

Iran war underscores risks of Trump's relentless focus on oil

The Iran war is underscoring the risks of President Donald Trump’s relentless focus on fossil fuels as he pursues what he calls American energy dominance

The Independent UK

Albanese government appoints fuel coordinator as ACCC investigates major suppliers’ conduct in regional Australia

The federal government has appointed Anthea Harris, former chief executive of the Australian Energy Regulator and of the Energy Security Board, as Coordinator of a new Fuel Supply Taskforce.

The Conversation

Ed Miliband calls for fairness in business energy contracts amid Iran crisis

Mr Miliband said pricing needs to be ‘fair, transparent and fully justifiable’.

Evening Standard

Australia is too dependent on fuel imports – what could be done about it?

The government has a roadmap to electrify transport and support alternative fuels by 2050, but the war in Iran and soaring prices means a plan is needed in weeks, not decades

The Guardian - AU

Morning Mail: crude spikes as Israel hits major gasfield, the driveways that ate Sydney, flight of the fashionistas

Tehran vows to strike at energy facilities after Israel hits main gasfield; study shows how housing redevelopments have halved the size of front yards

The Guardian - AU

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Fortune

Trump officials say gas prices will return to normal in ‘a few more weeks,’ but his own Energy Department says it will be 2027

Government projections don’t see gas prices falling below $3 per gallon until the end of next year.

The Independent UK

UK homeowners to be allowed wind turbines in gardens amid energy crisis

The government continues to push clean energy in response to the current global energy crisis

The Independent UK

Government addresses ‘scaremongering’ over UK energy supplies

IN FULL

Euronews

Can the Grids Package free the EU from its energy dependence?

US-Iran tensions disrupt Middle East energy routes, driving up oil and gas prices. After the 2022 energy crisis, Brussels launched the Grids Package. Can this plan cut Europe’s reliance on foreign energy?

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Euronews

Why is the Strait of Hormuz critical to Europe?

The closure of the Strait of Hormuz is affecting energy prices for industries and households, but the vital trade passage also accounts for a significant share of fertiliser shipments, threatening long-term food production. Euronews' explainer goes through the main issues affecting the Strait.

Evening Standard

Fuel price surge continues as diesel reaches 160.3p per litre

Diesel is at its most expensive level since November 2023.

The Independent UK

Politics latest: Starmer warns energy companies to pass on ‘every penny of savings’ to customers amid price surge

The prime minister has set out tens of millions of pounds of support for vulnerable households struggling with energy bills

Euronews

Trump says he demanded 'about seven countries' to join coalition to police Iran's Strait of Hormuz

Trump says attacks on Iran could last several more weeks despite soaring energy costs. The US president says he is assembling a coalition to help police the Strait of Hormuz and escort stranded oil vessels out to address international energy supply crises caused by the war.

AAP

Fuel tax cut urged to avoid fruit 'rotting on trees'

As some country towns face major petrol shortages, pressure is mounting on the federal government to intervene to bring down fuel prices.

The Independent UK

Starmer to pledge support for UK’s poorest homes to help with soaring energy bills

Vowing to support working people ‘whatever challenges lie ahead’, the PM will use a press conference on Monday to set out support for those facing soaring energy bills

Evening Standard

'End Iran war swiftly,' Keir Starmer tells Donald Trump to stop bills soaring in oil crisis

But the US president has said America is not ready to end the conflict which has entered its third week

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