30 Mar Energy / Mobility news, commentary and analysis | US and Israel Vs Iran war, a strain on global supply chains
(Oilandgaspress) Global oil prices up and stocks down sharply today in Asia after the US-Israel war with Iran entered its fifth week. The Middle East war is significantly affecting consumers as they worry about inflation but has not yet affected output for businesses. As expectations of higher selling prices and weaker demand filter through to businesses concerns about longer-lasting effects are clearly starting to affect the mood in Europe and the rest of the world. The war is reportedly prompting consumers to turn away from fossil fuel-driven power to solar panel generated energy for example in Britain E.On studies revealed solar sales were up by 62% this month, compared with the previous month.
E.On, which is one of the UK’s biggest electricity suppliers, reportedly announced the launch of a new service that uses automation to reduce bills for homes with solar panels and batteries.The war has generally sparked chaos across global financial markets, leaving investors and market makers reluctant to take on risk, making trading harder and costlier.
US President Donald Trump said he wants to “take the oil in Iran” and perhaps seize Kharg Island, while at the same time insisting that Washington is doing “extremely well” in negotiations with Iran and that he is “pretty sure” a peace deal will be reached “soon.” The mixing of threats and the possibility of a peace deal with Tehran came in an interview published late on March 29 in the Financial Times and in remarks an hour later to reporters aboard Air Force One.. Related News
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $102.40 | Up |
| Crude Oil (Brent) | USD/bbl | $114.90 | Up |
| Bonny Light 30/03/26 CBN | USD/bbl | $130.69 | Up |
| Dubai | USD/bbl | $128.49 | Down |
| Natural Gas | USD/MMBtu | $2.86 | Down |
| Murban | USD/bbl | $119.80 | Up |
| OPEC basket 27/03/26 OPEC | USD/bbl | $118.11 | Up |
| At press time March 30, 2026 |
NEO NEXT Energy announced the completion of its strategic merger with TotalEnergies’ UK offshore oil & gas production business. The combined group has been renamed NEO NEXT+ Energy Limited and becomes the largest producer on the UK Continental Shelf.
John Knight, Executive Chair of NEO NEXT+, and Senior Partner at HitecVision, commented: “We are delighted to welcome TotalEnergies and their UK oil & gas business to become part of NEO NEXT. The NEO NEXT+ strategy is “Resilience, Yield and Growth”, and we intend to play a leading role on the UK Continental Shelf (UKCS) for many years to come.” Related News
Dominion Energy customers in the Dentsville area of Columbia recently attended a kickoff event for the Neighborhood Energy Efficiency Program (NEEP). They are among approximately 2,300 customers in the area who are eligible for free energy-saving products and services through NEEP, which offers home assessments, on-site education and installation of energy-efficient products to incomeeligible customers.
Eligible customers began receiving information on how to participate in February, with installations in homes beginning in March and continuing through the end of May. Dominion Energy representatives will complete installations at no cost. Related News
After cars, the transition to electric trucks is accelerating globally, led by China. Europe is making progress, but cannot afford to slow down: in 2025, over 40% of new e-truck sales hit EU roads, bringing the total to 31,500 e-trucks and 30,800 e-buses. Three EU countries, Netherlands,Denmark, Sweden already exceed 15% electric truck sales. Prices of heavy electric tractors in Europe have dropped by 31% since 2023, driven by cheaper batteries and a push to lower prices ahead of the 2025 CO2 target. Related News
The EU faces fierce competition to be a global leader in the cleantech industries of the future. Our climate, competitiveness, jobs and economic wellbeing are at stake. The Green Deal is Europe’s roadmap to deliver for the climate and future security and prosperity. Yet, as another global crisis highlights the danger of Europe’s dependence on imported oil, the Green Deal is under attack within Europe.
Critics say Europe cannot compete with China on cleantech, but Europe is performing better than we realise and if we accelerate the transition now we can catch China in the near future.
Transport remains Europe’s biggest climate problem. In 2025 transport emissions in the EU flatlined, with emissions from cars plateauing and increased emissions from aviation undermining a drop in shipping emissions. Related News
Bentley Motors, in partnership with the Charities Aid Foundation (CAF), has announced a new Bentley Advancing Life Chances National Fund – a nationwide grants programme designed to support charitable organisations working with vulnerable and underrepresented communities across the UK.
Building on the legacy of the Advancing Life Chances Small Grants Programme, which awarded over 600 grants through ten rounds of funding, this initiative is a strategic shift towards deeper, more sustainable impact – enabling Bentley to respond more effectively to the evolving challenges facing grassroot organisations.
Grants of between £2,000 and £4,000 will be available to eligible charities close to Bentley retailer locations across the UK, Jersey and the Isle of Man, including the Bentley Headquarters in Crewe. The fund recognises the growing pressures faced by small charities in securing core funding and will allow grants to be used for essential running costs as well as project delivery. Related News
TotalEnergies is reported to have made more than $1bn (€868m) in profit after buying up oil cargoes across the Middle East as the Iran conflict choked shipping through the Strait of Hormuz, according to the Financial Times.
The French oil giant’s traders purchased around 70 cargoes of crude produced in the United Arab Emirates and Oman available to load in May — more than double its purchases in February — according to a person close to the company cited by the FT. Related News
The price gap between diesel and petrol has hit its highest point since at least 2003, new figures reveal, as the deepening oil crisis linked to Iran continues to drive up fuel costs. Motoring services company RAC reported a litre of diesel averaged 179.9p at UK forecourts on Sunday, a significant 28.5p more than petrol at 151.4p. The widening gap stems from UK refineries prioritising petrol, increasing reliance on imported diesel.
Global oil prices, affecting wholesale fuel costs, have soared due to Iran’s tightening grip on Strait of Hormuz tankers, pushing up pump prices. Related News
Drivers in the UK have already paid an additional £307 million for petrol and diesel since America and Israel went to war with Iran compared with what they would have paid had pump prices remained where they were before the conflict started on Saturday 28 February.
On Friday 27 February, the day before hostilities began, the price of a barrel of Brent crude oil was roughly $72 while pump prices in the UK averaged 132.9p per litre for petrol and 142.4p per litre for diesel.
Since then, the price of oil has spiked as high as $120 per barrel and is currently around $100. Pump prices have increased to 146.4p for petrol and 169.8p for diesel (as of Monday 23 March).
Using daily pump prices, and an estimate of average daily fuel consumption rate based on the total amount of fuel consumption in 2025, the RAC Foundation estimates that drivers of the nation’s 19 million petrol cars, 10.3 million diesel cars and five million vans (the vast majority of which run on diesel) – not to mention other commercial vehicles and motorcycles – have spent in the region of £4.574 billion on the forecourts since 28 February.
This compares with the roughly £4.267 billion that they would have paid if prices had remained broadly the same as they were back on 27 February. Related News
Eni, through its subsidiary Ieoc, and Eni Foundation signed today a Memorandum of Intent (MoI) with the Ministry of Health and Population (MoHP), the Health Insurance Organization (HIO) and the Ministry of Petroleum and Mineral Resources (MoP) to engage in joint cooperation for the development and implementation of a community health project aimed at enhancing healthcare services and improving the well-being of the people in Cairo Governorate with a focus on vulnerable groups.
Ieoc and Eni Foundation, in partnership with MoHP and HIO, are launching a pilot project to strengthen hospital management at Cairo’s New Heliopolis Hospital by transferring best practices from the Italian healthcare model to improve efficiency, quality, sustainability, and equitable access to care. The New Heliopolis hospital project is an advanced care facility with a capacity of around 400 beds and will serve an area of 4 million people providing services in various core specialties, including cardiology, oncology, maternal and pediatrics.
The initiative aims to provide support for the start-up and ramp-up of new hospital facilities, strengthening operational, organizational, and management processes and providing technical assistance during the initial phases of operation. Related News
An offshore wind farm in the United States has delivered its first power to the grid. Deemed as the largest offshore wind farm in the U.S., Dominion Energy’s Coastal Virginia Offshore Wind (CVOW) project delivered power right on schedule. CVOW is a critical part of Dominion Energy’s all-of-the-above diverse energy supply strategy, providing a renewable energy source that generates affordable electricity for homes and businesses. Related News
Baker Hughes Rig Count: International +33 to 1,112,U.S. -9 to 543 Canada -24 to 153
U.S. Rig Count is down 9 from last week to 543 with oil rigs down 5 to 409, gas rigs down 4 to 127 and miscellaneous rigs unchanged at 7.
Canada Rig Count is down 24 from last week to 153 with oil rigs down 19 to 95, gas rigs down 5 to 58 and miscellaneous rigs unchanged at 0.
International Rig Count is up 33 from last month to 1,112 with land rigs up 25 to 873, offshore up 8 to 239.
International Rig Count is up 15 rigs from last year’s count of 1,097, with land rigs up 22 offshore rigs down 7.
| Region | Period | Rig Count | Change |
| U.S.A | 27 March 2026 | 543 | -9 |
| Canada | 27 March 2026 | 153 | -24 |
| International | February 2026 | 1,112 | +33 |
| Baker Hughes |
“Qatar’s strategy to protect Ras Laffan had been to embrace a foreign policy that reduces the chance it might be targeted during a conflict. Maintaining positive relationships with geographic neighbors, hosting peace talks, and allowing foreign companies to invest have all contributed to that overall strategy. “ it’s failed – Rapidan’s Director of Global Gas Research Alex Munton
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