Oil News
Latest news and updates on Oil from AXL Media.
Latest Articles
- Global Commodities Surge as Geopolitical Tensions in the Strait of Hormuz Drive Crude Oil and Base Metals Higher
Published: Apr 30, 2026
Section: Investing
Midday trading on April 30, 2026, saw a significant rally in energy and metal markets, fueled by escalating maritime tensions between the United States and Iran. While domestic Chi...
- Wall Street Closes Mixed as Soaring Oil Prices and Federal Reserve Dissent Rattle Global Markets
Published: Apr 30, 2026
Section: Investing
U.S. equity markets finished a volatile Wednesday session with mixed results as crude oil surged toward $120 per barrel following news of a prolonged Iranian blockade. While the Fe...
- Brent Crude Surges to $126 Per Barrel as Reports of Potential U.S. Military Action Against Iran Rattle Markets
Published: Apr 30, 2026
Section: Iran War
Global oil prices reached a four-year high on April 30, 2026, following intelligence reports that U.S. Central Command is preparing to brief President Donald Trump on potential mil...
- Kenya Sacrifices Domestic Energy Sovereignty as Changamwe Refinery Idles Amid Turkana Oil Exports
Published: Apr 30, 2026
Section: Africa
Strategic analyst Alex Munyua argues that Kenya has trapped itself in a cycle of dependency by exporting raw crude while importing refined fuel at massive costs. Despite discoverin...
- NMDPRA Sets Aviation Fuel Price At N2,037 Per Litre In Abuja To Curb Market Volatility
Published: Apr 28, 2026
Section: Africa
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has intervened in the aviation fuel crisis, pegging prices at N2,037 for Abuja and setting a Lagos band of N1,7...
- NNPC Crude Oil Trading Reaches Five Year High Of 1.171 Million Barrels Per Day Under Ojulari Mandate
Published: Apr 28, 2026
Section: Africa
The Nigerian National Petroleum Company Limited has achieved a significant milestone with crude oil trading hitting 1.171 million barrels per day, the highest volume in five years....
- Global Oil Prices Surge as United States Iran Peace Negotiations Reach Diplomatic Deadlock
Published: Apr 27, 2026
Section: Oil
Brent crude futures climbed 1.3% to $106.68 per barrel following the cancellation of a high level American diplomatic mission to Pakistan. Market volatility remains high as limited...
- Old Mutual Analysis Suggests South African Treasury May Extend Fuel Levy Relief Using Mining Tax Windfall
Published: Apr 26, 2026
Section: Africa
Old Mutual Investment Group (OMIG) indicates that the South African government possesses the fiscal capacity to extend the R3 fuel levy cut beyond its current three-month window. S...
- The Iran War Disconnect: Wall Street Hits Records as Global Oil Supply Faces 700 Million Barrel Deficit
Published: Apr 26, 2026
Section: Iran War
Despite a historic disruption in Middle Eastern oil supply and the total cessation of tanker traffic through the Strait of Hormuz, the S&P 500 and Nasdaq reached new all-time highs...
- IEA Chief Warns of ‘Biggest Energy Security Threat in History’ as Hormuz Crisis Surpasses 1970s Oil Shocks
Published: Apr 26, 2026
Section: Iran War
Fatih Birol, Executive Director of the International Energy Agency (IEA), has declared the current Strait of Hormuz crisis the most severe energy security threat in history. With 1...
- Global Gasoline Prices Exhibit Extreme Volatility as Costs Range from Nine Cents to Fifteen Dollars Per Gallon
Published: Apr 24, 2026
Section: Oil
A comprehensive global analysis reveals that gasoline prices have reached an average of $5.58 per gallon, with massive disparities driven by national subsidies and heavy taxation....
- Trump Warns of Prolonged Gas Price Hikes While Claiming ‘Real Mess’ for Iran’s Divided Leadership
Published: Apr 23, 2026
Section: Iran War
President Donald Trump addressed Americans' concerns over rising energy costs on Thursday, stating that higher gas prices will persist "for a little while" as the war with Iran con...