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Oil prices tumble and European stocks rise

Oil rose more than 1% today with Brent futures extending gains after a record monthly rise in March, as Middle East volatility kept markets jittery despite reports that the US-Israeli war on Iran may be nearing an end.

Business • 01 Apr

MOSCOW, RUSSIA - MARCH 26: Russian President Vladimir Putin gestures during the Congress of Russian Union of Industialists and Entrepreneurs (RSPP), on March 26, 2026 in Moscow, Russia. President Putin Visited an annual congress of top national businessme

Russia's oil revenues spike due to US-Iran war

Four weeks of the US-Israeli war with Iran and a sharp rise in oil prices have added millions to Russia's budget, energy market analysts say.

Business • 29 Mar

MarineTraffic map showing current ships traffic on Strait of Hormuz

Oil up as investors reassess MidEast ceasefire prospects

Oil rose more than 3% today, rebounding from the previous session's losses, as prospects for a prolonged conflict in the Middle East stoked concerns over further supply disruptions.

Business • 26 Mar

Oil falls as reports of proposals spurs ceasefire hopes

Oil prices slid about 4% today on reports that the US had sent Iran a 15-point proposal aimed at ending the war, prompting talk of progress toward a ceasefire.

Business • 25 Mar

Commercial vessels are pictured offshore in Dubai

Oil prices rise as supply disruption persists

Oil rallied today as the world's biggest supply disruption persisted and Iran denied it held talks with the United States to end the war in the Gulf, contradicting US President Donald Trump, who said a deal could be reached soon.

Business • 24 Mar

Oil sinks after Trump postpones strikes on Iranian plants

Oil prices dropped about 10% to a one-week low today after US President Donald Trump said he would postpone any military strikes against Iranian power plants for five days after constructive talks.

Business • 23 Mar

Indian vessel 'Nanda Devi' carrying liquefied petroleum gas was one of the few commercial vessels that Iran has allowed to pass through the Strait of Hormuz

Oil prices rise despite efforts to open Strait of Hormuz

Oil prices rose again despite the US outlining moves to manage the oil supply crisis, while leading European nations, Japan and Canada offered to join efforts to secure safe passage for ships through the Strait of Hormuz.

Business • 21 Mar

Oil jumps above $119 a barrel on Middle East attacks

Benchmark Brent oil prices jumped above $119 a barrel today after Iran attacked energy facilities across the Middle East following Israel's strike on its South Pars gas field, a major escalation in the war.

Business • 19 Mar

A woman in a grey suit speaks at a podium with the European Union flag in the background

ECB keeps rates on hold as Iran war clouds outlook

The European Central Bank kept its key interest rate at 2% today and warned that the war in Iran was clouding the outlook for growth and inflation in the euro zone.

Business • 19 Mar

Brent oil price jumps after attack on Iran oil field

Brent crude prices rose today after Iran's Revolutionary Guards threatened several energy facilities across Saudi Arabia, UAE, and Qatar in retaliation for an attack on its energy sites, heightening the risk of further disruptions to energy supplies in the region.

Business • 18 Mar

A sign in front of the European Central Bank in Frankfurt

At the mercy of oil - 5 questions for the ECB

The European Central Bank meets on Thursday, with traders betting that surging oil prices could push it to hike interest rates as early as this year.

Business • 16 Mar

Oil price retreat lifts market sentiment

London's FTSE 100 rose on Monday as falling oil prices lifted sentiment across stock markets, with investors also keeping a close eye on the Bank of England's rate decision due later this week.

Business • 16 Mar

Oil pump with an Iran flag in the background

Oil dips as Indian tanker sails out of Strait of Hormuz

Oil prices dipped today as an Indian tanker sailed out of the Strait of Hormuz and the US put forth measures to try and ease supply concerns, but were on track for weekly gains as disruptions due to the Middle East conflict broadly persisted.

Business • 13 Mar

Oil shock 'largest supply disruption' in history - IEA

The Mideast war "is creating the largest supply disruption in the history of the global oil market", as Iran's chokehold on regional supplies forces Gulf oil producers to slash production, the International Energy Agency said today.

Business • 12 Mar

Shell boss sees pay jump almost 60% despite profit fall

The boss of Shell saw his pay package jump to £13.8m for the past year despite delivering lower profits at the oil giant.

Business • 12 Mar

Oil gains 9% as Iran says Strait of Hormuz stays closed

Oil prices rose today as Iran stepped up attacks on oil and transport facilities across the Middle East, fuelling concerns of a prolonged conflict and potential disruptions to oil flows through the Strait of Hormuz.

Business • 12 Mar

Commercial vessels are pictured offshore in Dubai on March 11, 2026. New attacks hit three commercial ships in the Gulf on March 11

Oil prices up 4% despite record stocks release plan

Oil prices gained nearly 4% today as fresh attacks on ships in the Strait of Hormuz worsened supply disruption fears, and analysts said the International Energy Agency's proposal for a record release of oil reserves is inadequate to ease those fears.

Business • 11 Mar

Oil rises as it shrugs off potential IEA reserves release

Oil prices rebounded today as markets doubted whether the International Energy Agency's reported plan for a record release of oil reserves could offset potential supply shocks from the US-Israeli conflict with Iran.

Business • 11 Mar

IEA to release 400 million barrels from oil reserves

The International Energy Agency is to recommend the release ⁠of 400 million barrels of oil, the largest such move in IEA history, to try to restrain soaring crude prices amid the US-Israeli war with Iran.

Business • 11 Mar

A view of a construction cranes over the construction site of the Salesforce Tower Dublin in Dublin's Docklands

Construction sector industry braces for rising costs

There are concerns in the construction industry over the rising costs of oil as the US-Israeli war with Iran continues.

Business • 10 Mar

Aramco sees 'catastrophic consequences' for world's oil

Saudi Arabia's Aramco, the world's top oil exporter, said today that there would be "catastrophic consequences" for the world's oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz.

Business • 10 Mar

Oil sinks 11% as Trump predicts Middle East de-escalation

Oil prices plummeted by more than $10 a barrel today after soaring to an almost four-year high in the previous session after US President Donald Trump predicted the war in the Middle East could end soon, lowering expectations of prolonged disruptions to oil supply.

Business • 10 Mar

Economics and Public Affairs Editor, David Murphy and Prime Time presenter Fran McNulty

Podcast: Pump prices, inflation and Gulf food supplies

Economics and Public Affairs Editor, David Murphy, joined Behind the Story to outline the far-reaching implications of the conflict on energy and fuel prices, and what levers are at the Irish Government's disposal to alleviate the burden on consumers.

Behind the Story • 09 Mar

Explainer - Strategic oil reserves a crisis cushion

Many countries, especially members of the International Energy Agency (IEA), maintain strategic oil reserves to cushion the fallout from economic shocks and could draw on them if the war in the Middle East endures.

Business • 09 Mar

An employee pumps gasoline into the vehicle of a customer at a gas station in Hanoi on March 9, 2026. Vietnam is considering a plan to scrap tariffs on fuel imports, the government said, as the US-Israeli war with Iran disrupts oil supplies and pushes pri

Ireland should look 'at own resources' amid energy shock

The $100 mark is "traditionally a psychological marker," chief economist at EY Loretta O'Sullivan told RTÉ's Morning Ireland today as oil prices soared to their highest level since mid-2022.

Business • 09 Mar

Oil Prices

Oil prices tumble and European stocks rise

Russia's oil revenues spike due to US-Iran war

Oil up as investors reassess MidEast ceasefire prospects

Oil falls as reports of proposals spurs ceasefire hopes

Oil prices rise as supply disruption persists

Oil sinks after Trump postpones strikes on Iranian plants

Oil prices rise despite efforts to open Strait of Hormuz

Oil jumps above $119 a barrel on Middle East attacks

ECB keeps rates on hold as Iran war clouds outlook

Brent oil price jumps after attack on Iran oil field

At the mercy of oil - 5 questions for the ECB

Oil price retreat lifts market sentiment

Oil dips as Indian tanker sails out of Strait of Hormuz

Oil shock 'largest supply disruption' in history - IEA

Shell boss sees pay jump almost 60% despite profit fall

Oil gains 9% as Iran says Strait of Hormuz stays closed

Oil prices up 4% despite record stocks release plan

Oil rises as it shrugs off potential IEA reserves release

IEA to release 400 million barrels from oil reserves

Construction sector industry braces for rising costs

Aramco sees 'catastrophic consequences' for world's oil

Oil sinks 11% as Trump predicts Middle East de-escalation

Podcast: Pump prices, inflation and Gulf food supplies

Explainer - Strategic oil reserves a crisis cushion

Ireland should look 'at own resources' amid energy shock