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EasyJet warns profits will suffer as Iran war hits bookings and fuel prices

Iran war on bookings and oil prices will hit its profits, having driven up fuel costs by £25m in the last month alone. It said it expected to report an increased pre-tax loss

Soaring fuel prices in Pakistan threaten economic and political crises

conflict with Iran, April 7, 2026 [Murtaza Ali/ Reuters] ## No good options The government is caught between two bad options, say analysts – pass on global oil prices to consumers and face public anger, or subsidise

Fire breaks out at crucial Australian refinery, raising fuel supply fears

conflict, which has driven up energy prices worldwide. Kevin Morrison, an energy finance analyst, said the wider Asia Pacific region has been facing a fuel security issue and Australia does not have major stockpiles. “This

Strait of Hormuz closed again, Iran says, as ships attacked

prices to soar. The Islamic Revolutionary Guard Corps (IRGC) Navy warned in a statement on Saturday that "no vessel is to move from its anchorage in the Persian Gulf or the Sea of Oman

Russia has given Iran something more important than weapons

oil market does not remove the need to restructure its economy in the face of Western sanctions. It is also clear that external conditions alone are insufficient for achieving its objectives in Ukraine. On this

Iran vows ‘long, painful’ response if US renews attacks

prices surging and heightened concerns about the risks of an economic downturn. Pakistan-led efforts to resolve the conflict have hit an impasse. Despite a ceasefire in place since April 8, Iran continues to block

The Iran war now has a price tag ($25 billion), but still no end date

price tag ($25 billion), but still no end date ![Defense Secretary Pete Hegseth testifies about the Iran war before the House Armed Services Committee on Wednesday. Hegseth described the military operation as a major success

Trump claims US has total control over strait of Hormuz after Iran seizes two container ships

current conflict. Mojtaba Khamenei was also seriously wounded in the attack, but the New York Times on Thursday cited senior Iranian officials who claim that he remains “mentally sharp and engaged”. “One leg was operated

Leaders urge for restraint as 10-day Israel-Lebanon ceasefire takes effect

conflict, which has sent energy markets reeling. "The unconditional and immediate reopening of the Strait is a global responsibility, and we need to act to get global energy and trade flowing freely again," Starmer said

The U.S. blockade continues despite Iran's announcement the Strait of Hormuz is open

conflict, which has sent energy markets reeling. "The unconditional and immediate reopening of the Strait is a global responsibility, and we need to act to get global energy and trade flowing freely again," Starmer said

Why and how is US blockading Iranian ports in Strait of Hormuz?

currently under a two-week ceasefire. Trump hopes to put pressure on Iran by targeting two economic drivers - the huge tolls it was demanding ships pay to pass through the Strait of Hormuz

Top US Senate Democrats again try for war powers resolution – as it happened

oil prices were $98 a barrel in afternoon trading after topping $100 earlier on Monday. **We’ve got vision here of [Donald Trump](https://www.theguardian.com/us-news/donaldtrump) commenting on the AI-generated image he posted

Iran war’s big winners: Wall Street, weapons firms, AI and green energy

oil, gas, chemicals and fertiliser remain largely stranded by Iran’s shutdown of the strait and the subsequent US naval blockade of Iranian ports. In the worst-case scenario of a prolonged

Oil prices continue to fall on hopes of new US-Iran peace talks

current oil prices do not reflect the severity of what is going on in the Middle East. While prices have retreated from $100 a barrel, crude oil is still far more expensive than

As Iran crisis drags on, fears of global food crisis grow

conflict continues into the middle of the year and oil prices remain above $100 a barrel.  A farmer harvests wheat crops in the suburbs of Peshawar, Pakistan

Have US-Iran talks failed? Why no deal yet doesn’t mean diplomacy is dead

oil supplies and contributed to rising prices. Countries around the world have been forced to seek alternative supplies and implement austerity measures to keep their economies afloat. Despite the breakdown in direct engagement, diplomacy continues

Tuesday briefing: What it might take for lasting peace between the US and Iran

conflict. ## Five big stories 1. ***Iran war*** | JD Vance was expected to fly to Islamabad at the head of a US diplomatic delegation on Tuesday [if Iran agrees to further talks](https://www.theguardian.com/world/2026/apr/20/jd-vance-to-lead-us-delegation-in-pakistan-if-iran-agrees-to-talks)

Hormuz effect? How US, China are ramping up tensions over the Panama Canal

oil prices to soar. Later, [Iran began charging tolls](/news/2026/3/26/tehranstollbooth-how-iran-picks-who-to-let-through-strait-of-hormuz) for passage through – a move until now unheard of for a strait. Despite a fragile ceasefire, Washington, in an attempt to pressure Iran, has imposed

China's economy grows faster than expected despite Iran war

currently faces a 10% US tariff for most of its goods. However, US Treasury Secretary Scott Bessent said on Tuesday that the levies may be restored by the beginning of July to the levels

Katya Adler: Europe's Nato allies push back at reported US threat to Spain

current Secretary General of ASD Europe (Aerospace, Security, and Defence Industries Association for Europe). "Are Europeans sufficiently aligned with the US, according to Trump's tastes?" That is the wrong question for Washington