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Fuel theft couple caught after locals help track them down

war with Iran began. Prices surged when the conflict began on 28 February, with the production and transportation of oil across the Middle East slowing or stopping entirely due to missile strikes and drone attacks

UK relaxes strict sanctions on Russian crude oil

petrol prices have eclipsed the high set during the Iran oil crisis. Relaxing sanctions will allow imports of jet fuel from India, which was previously a key supplier to the UK and Europe. Russian crude

Barclays cuts back risky lending after £228m hit from UK mortgage firm MFS

Iran war on 28 February. Venkatakrishnan warned of a broader impact of the rise in energy prices if the war dragged on. “Higher oil prices and the longer they go on will have an impact

UK households cut back spending at fastest rate in 18 months, Barclays says

petrol and diesel prices. The figures follow a slew of [surveys](https://www.theguardian.com/business/2026/may/11/uk-households-brace-cost-of-living-crisis-pwc-survey-consumer-confidence) and [reports](https://www.theguardian.com/business/2026/apr/23/uk-braces-for-price-rises-driven-by-iran-war-as-economic-confidence-plummets) that suggest consumers and businesses are preparing for harder times ahead as the Iran war rattles

Surprisingly benign UK inflation data signals a softer Iran war hit than feared

Iran choked off oil supplies through the strait of Hormuz at the start of March, there were dire warnings about rocketing UK inflation and the drastic action the [Bank of England](https://www.theguardian.com/business/bankofenglandgovernor) might

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

Iran war: What’s happening on day 63 as Trump signals possible attacks

prices cushioning the impact, and a large domestic market, noting the country is used to “much harsher” conditions after years of pressure. ## War diplomacy - **Impasse likely despite pressure tactics:** Retired US General Mark Kimmitt said

Iran war costs Toyota £3bn as prices of materials soar and sales fall

prices have also increased the cost of tyres. Toyota said its profits for the year to March 2027 would decline for the third year in a row because of the war’s impact. It expected

Japanese snacks go black-and-white: Why Iran war is driving up ink prices

Iran war driving up ink prices? And will crisp packets be colourful again? ## What have Japanese companies said? In a statement, Calbee said its decision to switch to black-and-white packaging was a response

Bangladesh seeks IMF aid: How badly has Iran war hit its economy?

petrol from $0.95 per litre to $1.10 per litre. Diesel and kerosene prices also rose. However, the economic fallout in Bangladesh from the Iran war is not limited to its energy supplies. ### Garment industry

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

Are prices really dropping in the US, as Trump claims?

war on Iran. In a post on his social media platform Truth Social, the president claimed that “OIL IS FLOWING” and added that “THE STOCK MARKETS ARE ROARING, JOBS ARE AT RECORDS, AND PRICES

As US-Iran talks remain ‘stalled’, experts warn of ‘long-term disruptions’

war on Iran entering its 60th day, experts warn that there is no end in sight, as negotiations continue to be “stalled” amid soaring oil prices and inflation. The US and Israel launched their attack

Faisal Islam: Why the UAE's exit from Opec is a big deal

impacted the UAE's relationship with Iran and may affect its already strained relationship with Saudi Arabia. As for Opec, this is a big blow at a time when significant questions are being asked about

Bank of England leaves interest rates on hold at 3.75%

impact of the Iran war. The Bank’s rate-setting monetary policy committee (MPC) voted to leave borrowing costs on hold at noon on Thursday, after its latest rate-setting meeting. The vote

Biggest drop in petrol purchases in six years hits retail sales in Great Britain

petrol and fuel purchases at the steepest rate since the Covid pandemic in 2020 drove retail sales in Great Britain to their biggest monthly decline in a year. The [Office for National Statistics](https://www.theguardian.com

Guardian Essential poll: Australians want higher tax on gas exports and extension of petrol excise cut

impact of the Iran war bites,” said Peter Lewis, executive director of Essential Media. “This creates real challenges for the treasurer leading into the budget, but there is strong support for measures to review housing

Starmer will not be swayed by Trump’s ‘small and petty’ insults, says Lammy

impact of the war, and that Vance himself was concerned about the cost of living in the run-up to the US midterm elections. On Sunday, Trump announced US negotiators would head to Pakistan this

US extends sanctions waiver on Russian oil: Why it matters

petrol prices at home or stabilising global energy markets. According to the International Energy Agency, in April, Russia’s overall crude exports increased by 250,000bpd, reaching 4.9 million bpd. Since the war on Iran

Why is piracy rising off Somalia again — and is the Iran war responsible?

war responsible? At least three vessels have been targeted in [hijackings](/news/2026/4/27/suspected-pirates-steer-cargo-vessel-towards-somalia) this week off the coast of Somalia in what analysts fear is a replay of past piracy around the Horn of Africa