WTI (Aug) $78.95 -65c, Brent (Sep) $84.23 -72c, Diff -$5.28 -7c.

USNG (Aug) $2.86 -6c, UKNG (Aug) 135.01p +4.32p, TTF (Aug) €56.145 +€1.96.

Oil price

Oil is up over a dollar fifty  this morning after further major strikes overnight by US forces on military targets in Iran, this makes crude up around 9 bucks on the week as it stands which for those of us who weren’t sucked in comes as no surprise. 

Iran also struck back against US bases in the region and also advised the -Iran funded- Houthi rebels to close the Red Sea thus attempting to close off the alternative supply route for middle east oil supplies. Put simply it looks like Iran are playing a game of dare with the USA as the next move by the great Satan would be to attack the oil installations and at a last resort go for power and water plants.

Today’s price moves could be higher as I suspect that traders, whilst still sanguine, are not going into this weekend with big short positions like they had last week which caught them with their trousers well and truly down…

Sunda Energy

Sunda has announced that it has received notice from Alumni Capital Limited, who participated in the CLN Subscription as announced on 8 April 2026, to convert £100,000 of the outstanding drawn down principal amount of its Convertible Loan Notes plus a £10,000 Finance Charge (the “Conversion Balance”) into new ordinary shares of 0.1 pence each in the Company.

The conversion price of the Conversion Balance is 0.9351 pence which, in accordance with the terms of the Convertible Loan Notes, is a 15% discount to the lowest daily volume weighted average price on any of the 10 Trading Days prior to the issue of the conversion notice.

Accordingly, the Company will issue 11,763,447 new Ordinary Shares to the Investor.

In addition, the Company has granted 6,786,604 CLN Warrants to the Investor pursuant to the Conversion. One CLN Warrant will entitle the Investor to subscribe for one Ordinary Share, at a 30% premium to the Conversion Price, being 1.21563 pence.

Details of the terms and conditions of the Convertible Loan Notes are outlined in the Company’s announcement released on 8 April 2026 and in the Company’s circular posted to shareholders on 9 April 2026.

Nothing to add here…

And finally…

Another big weekend for sports fans, the denouement of the World Cup in New York City on Sunday, I’m doing my hair at that time…

The Open Golf started yesterday in blistering conditions, unusual given our links courses can often be wet and windy. The overnight lead is held by American Jackson Suber (me neither…) at 5 under with Englands Dan Brown and South Korean Im Sung-jae joint second on 4 under.

The second ODI between England and India was won by England, in particular Joe Roooot who was left stranded on 99 not out but he’s not the sort of guy to worry about that. The decider is at gloomy old Lords with its silent crowd and ropey pitches on Sunday at 11:00.

And it’s T20 finals day tomorrow at Edgbaston, the semi-finals are between the Steelbacks and the Cider drinkers and the Hawks and the Outlaws, winners contest the final.

The Belgian Grand Prix is at Spa-Francorchamps this weekend, noted for being one of the fastest tracks on the circuit all is up for grabs but Lando takes a ten place grid penalty after requiring new parts..

Racing is at Newbury but it looks like another pretty disappointing card…

But rugby fans get another wall-to-wall day of Nations Cup matches, first up is the All Blacks v Ireland at 08:10 then the Cherry blossoms face Les Bleus at 09:40, the Wallabies v Italy at 11:10, Fiji v Scotland at 14:10, the Springboks face Wales at 16:40 and finally the Pumas host England at 20:10.