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How the Iran war is hitting the UK

supply disruption in the history of the global oil market. Oil prices have spiked, gas prices are climbing and inflation fears are back. But the bigger risk is ‘demand destruction’. “Demand destruction happens when high

More big energy users to get help as support plan expanded

impact on domestic bills. The start of the war in Iran pushed oil and gas prices sharply higher, though they did not reach the same levels as during the aftermath of Russia's invasion

In five charts - How UAE's exit could affect Opec's influence over the oil price

war. That policy came alongside a co-ordinated cut to oil production. Oil prices more than doubled, there was fuel rationing, and the significant knock-on effects were compounded by a second oil shock

Democrats urged to link clean energy to affordability as Iran war hikes up prices

impacts, has been stymied by Trump, who has implemented a “drill, baby drill” approach to oil and gas extraction and has taken extraordinary measures, [even amid the Iran crisis](https://www.theguardian.com/us-news/2026/mar/23/trump-administration-wind-project-plan), to halt domestic

Calls for humanitarian corridor through strait of Hormuz as Iran war hits vital aid

Iran took turns at closing and blockading the strait of Hormuz shipping channel. Limiting the number of cargo ships passing through the 5km-wide passage has had an extraordinary global impact, reducing the global supply

Airlines and companies using fuel surcharges to cover surge in costs, UK survey shows

Iran war weighing heavily on firms’ [confidence to make investment decisions](https://www.theguardian.com/business/2026/apr/23/uk-braces-for-price-rises-driven-by-iran-war-as-economic-confidence-plummets). Moreover, the widespread price rises will further pressure the [Bank of England](https://www.theguardian.com/business/bankofenglandgovernor) to raise interest rates – its main

Coles adds 20c to the price of milk as war in the Middle East pushes up Australian grocery costs

war on Iran. [Sign up for the Breaking News Australia email](https://www.theguardian.com/email-newsletters?CMP=copyembed&CMP=emailbutton) One litre of Coles brand fresh milk has risen from $1.65 to $1.85, with two litres up from

Airlines in Europe slash thousands of flights as Iran war cuts jet fuel supplies

impact of the war in Iran ripples across the aviation industry. [![A worker fuels a Delta Airlines plane at Salt Lake City International Airport on April 09, 2026. As fuel prices continue to rise amid

Wall Street seems to have decided the recession risk is over. Can the Australian market do the same?

Iran war shut the strait of Hormuz. The International Energy Agency has called the choking off of a fifth of the world’s oil and gas supply as the “greatest global energy security threat

Four in five Britons worried Iran war will make food more expensive, poll finds

Iran war will make food more expensive, according to a new poll, as businesses warned the “window is closing” for ministers to cut energy costs for UK retailers. Research by Opinium found that

Europe has only six weeks’ supply of jet fuel left due to Iran war, says energy chief

oil futures prices, a global benchmark, remain more than 30% higher than they were before the war. The rapid increase in petrol prices has put pressure on the US president, Donald Trump. However, there have

UK faces higher prices for eight months after war in Iran ends, says minister

war in Iran ends, a minister has said. The closure of the strait of Hormuz, a key shipping lane that carried a fifth of global oil and gas, has sent oil prices soaring since

Iran war forces job losses, reverse migration in India’s ceramic hub

war continues, with the US on Sunday capturing an Iranian cargo vessel, even as Washington says it is willing to hold another round of talks with Tehran in Pakistan to reach a deal. Tehran

Iran’s currency falls to new low as US blockade, sanctions impact trade

prices, despite concerns about corruption. ## Non-oil trade takes hit According to customs data released by state media, Iran’s non-oil trade has been negatively affected after commercial ties were disrupted

Tui cuts profit forecast as effects of Iran war cost travel group €40m

Iran war has cost the travel company Tui €40m (£34.7m) so far, including repatriating almost 12,000 holidaymakers and staff, and forced it to cut its profit forecast for this year. Europe’s biggest

We can make sure another Chornobyl disaster does not happen, here is how

impacts, and costs that continue to mount across generations. The lesson is clear. When nuclear systems fail, the consequences are long-lasting, widespread, and extraordinarily difficult to manage. The damage does not end when headlines

British Airways owner issues profit warning over soaring jet fuel costs

Iran war. International Airlines Group (IAG), which also owns Aer Lingus, Iberia and Vueling, said it has hedged 70% of its expected fuel use for this year with costs expected to be about

Renewable energy will boost national security and protect UK from sabotage, minister says

supply shocks, such as the current [oil crisis caused by the US-Israel war](https://www.theguardian.com/environment/2026/apr/24/global-oil-crisis-changed-fossil-fuel-industry-for-ever-iea-chief-fatih-birol) on Iran and the soaring [gas prices that followed Russia’s invasion of Ukraine](https://www.theguardian.com/environment/2026/apr/24/global-oil-crisis-changed-fossil-fuel-industry-for-ever-iea-chief-fatih-birol)

Quarter of a million people could lose job by middle of 2027 as UK ‘flirts with recession’, analysis says

oil depot last month](https://i.guim.co.uk/img/media/b15a71bc0546c06492cd5adcc1a1f188e7e45e89/139_0_2805_2244/master/2805.jpg?width=445&dpr=1&s=none&crop=none) The EY Item Club says the Iran war will cause the biggest economic hit since the pandemic. Photograph: Sasan/Middle East Images/AFP/Getty Images Matt Swannell, the forecast group

From night life in Egypt to rice farming in Vietnam, the war in Iran is a drain

impacts go beyond imports. Many households in Africa and Asia [depend on remittances](https://www.dw.com/en/iran-war-puts-south-asias-gulf-remittances-at-risk/a-76513989) from relatives who work in the Gulf and send money home, but the war has caused serious economic disruption