The price of oil jumped more than 7%, as the war on Iran was "creating the largest supply disruption in the history of the global oil market."

Three commercial ships have been damaged by "unknown projectiles" in the Strait of Hormuz - here's why the shipping channel is so important

A selloff hit Wall Street as traders feared economic fallout from a potentially prolonged bout of elevated oil prices.

Member countries of the International Energy Agency unanimously agreed Wednesday to release 400 million barrels of oil into the global market – the largest release of emergency oil stocks in history – in a drastic move aimed at shoring up crude supplies and capping a surge in prices caused by the conflict in the Middle East.

The International Energy Agency has agreed to release the largest volume of emergency oil reserves in its history, in a bid to counter the effects on energy markets of the war in the Middle East.

Global supply is expected to drop by 8 million barrels per day in March, the IEA said in its latest monthly oil market report - a volume equal to almost 8% of world demand - due to the blocking of the...