Latest UK Fuel & Oil News
Recent stories driving UK fuel supply, prices, and reserve levels.
This week's top supply-risk themes
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A Barrel Trapped Behind Hormuz Isn't Spare Capacity
At the start of 2026, oil traders were preparing for a glut. Supply growth was expected to outpace demand growth. OPEC+ was gradually returning barrels to the market. U.S. production remained near record highs. Economic
Read full article →States Take Trump to Court Over Offshore Wind Cancelations
The Trump administration’s war on wind is heading back to court. New York’s attorney general sued the administration Tuesday over one of its deals to end an offshore wind project. Under the deal announced in March, Frenc
Read full article →Kazakhstan Turns to U.S. Water Experts as Scarcity Threat Looms
Kazakhstan is turning to a US government agency for help on water conservation. Experts from the Kazakh water-management agency Kazvodhoz held talks recently with representatives of the US Bureau of Reclamation on ways t
Read full article →Copper Tops $14,000 With Banks Calling for Even More Upside
Copper is trading just above $14,000 a ton in London, roughly $500 shy of its all-time high set in January, and Wall Street thinks it has further to run. Goldman Sachs lifted its end-2026 copper price target by more than
Read full article →Kuwait Says Oil Output Won't Recover for 10-12 Weeks After Hormuz Reopens
Kuwait Petroleum Company expects it will take considerably longer to restore oil production than many traders appear to assume if the Strait of Hormuz reopens in the coming days. Speaking at the S&P Global Energy Middle
Read full article →Britain’s Borrowing Outlook Darkens as Energy Shock Deepens
Chancellor Rachel Reeves has been warned that government borrowing is set to spike as a result of the Iran war, as the Office for Budget Responsibility admitted it had underestimated the effects of the last energy price
Read full article →Iraq Targets 770,000 bpd Through Ceyhan as Southern Output Climbs Back
Iraq has restarted production at some of its most important oil fields, including West Qurna 1, Majnoon and Fauqi, lifting national output back to roughly 1.5-1.6 million barrels per day after the collapse triggered by t
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US announces new tariffs over forced labour concerns
It comes after the US Supreme Court struck down many of US President Donald Trump's previous duties in February.
Read full article →US Crude Oil Inventories in Freefall: EIA
Crude oil inventories in the United States decreased by 8.0 million barrels during the week ending May 29, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease b
Read full article →South Korea Locks In Canadian Crude, LNG in Sweeping Supply Overhaul
South Korea will triple its crude imports from Canada this year and boost LNG purchases from Canadian export projects in the coming years as the Asian economy looks to diversify energy supply amid the massive oil and gas
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Lloyds, Halifax and Bank of Scotland back after online banking outage
"We're aware some customers are having issues with our app and online banking. We're really sorry about this," Lloyds Bank posted on X.
Read full article →Deadly Russian Strikes Across Ukraine Renew Calls for More Air Defenses
Despite more than four years of full-scale war and repeated attacks on civilian infrastructure, Ukrainians were shocked by the intensity of the latest Russian missile and drone barrage overnight that left death and destr
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Universal park officially named as government pledges £1.3bn
The government's contribution is going towards upgrading local infrastructure and transport links.
Read full article →Iraq Looks to Triple Pipeline Oil Exports as Hormuz Remains Closed
Iraq plans to triple within three months its exports of crude oil through Kurdistan to the Turkish Mediterranean port of Ceyhan as OPEC’s second-largest producer is one of the Middle East’s producers worst affected by th
Read full article →Rubio Says U.S. Wants to End Russian Oil Waivers “As Soon as Possible”
The Trump Administration would like to end the sanction waivers allowing sales of Russian oil as soon as possible, although the decision rests with the U.S. Department of the Treasury, Secretary of State Marco Rubio said
Read full article →BlackRock-Backed Atlas Renewable Freezes $1 Billion in Brazil Solar Projects
High curtailment rates and the national grid operator frequently rejecting renewable power have prompted BlackRock-backed Atlas Renewable Energy, one of the biggest solar power producers in South America, to halt $1 bill
Read full article →Iranian Strike On Kuwait Airport Raises Stakes For Gulf States
Iranian drones and missiles struck Kuwait International Airport overnight, hitting Terminal One, killing at least one person, injuring several others, and causing what Kuwaiti authorities described as significant materia
Read full article →Oil jumps more than 1% on Middle East flare-up, Iran-US talks stall
Oil prices increased by more than 1% on 3 June, Wednesday, continuing a rise seen in the previous session, as renewed hostilities in the Middle East and stalled negotiations between Iran and the US added uncertainty to t
Read full article →Chevron seeks RIGI approval for $13.8bn Vaca Muerta oil project
Chevron has submitted an application to participate in Argentina’s Large Investment Incentive Regime (RIGI) for a proposed $13.8bn unconventional oil project.
Read full article →Supply Shock to Slash India’s Oil Demand Growth to Pandemic Low
Analysts have slashed their estimates of India’s oil demand growth this year, with the consumption uptick to be the weakest since the Covid pandemic as the supply crunch and higher fuel prices slow gasoline and diesel de
Read full article →Dolphin Drilling wins multi-year contract for Borgland Rig
Dolphin Drilling has entered into a new multi-year contract for its semi-submersible drilling rig, the Borgland Dolphin, with an unnamed operator in the UK.
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Publishers in UK can opt out of Google AI search results
The Competition and Markets Authority says it would put publishers "in a stronger position to negotiate content deals with Google".
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Three-quarters of workers not on track for 'moderate' pension income, report suggests
A newly-published report suggests a moderate lifestyle in retirement costs £32,700 for one person and £45,400 for two.
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The 18 creatures in the running to be on the new banknotes
The Bank of England is asking the public which animals should appear on future banknotes.
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Microsoft testing wearable AI gadget aimed at office workers
The company said its own workers are testing a "wearable access badge" and a desktop device.
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Microsoft says new quantum chip 1,000 times more reliable than predecessor
The tech giant predicts it will have a quantum computer that can solve commercially useful problems by the end of the decade.
Read full article →New episode: how big can, and should, mega turbines get?
In this episode of Energy Technology, we’re unpacking mega wind turbines and the challenges and opportunities ahead for the market.
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Water firm fined £1.8m over parasite outbreak
Four people were hospitalised and there were more than 140 cases of sickness and diarrhoea in Devon.
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King told me Post Office scandal was 'dreadful', says oldest victim
Betty Brown says she is accepting the honour on behalf of all the victims of the scandal.
Read full article →Parex Resources completes $500m acquisition of Frontera E&P assets
Parex Resources has completed its acquisition of all Colombian exploration and production assets held by Frontera Energy in a deal valued at $500m.
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