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Africa sees winners and losers as Iran war pushes up oil prices

supply shock in [history](/news/2026/3/13/iea-announces-release-of-400-million-barrels-of-oil-but-is-it-enough). Goldman Sachs estimates that the massive disruption of trade in the Strait of Hormuz, along with attacks on regional energy infrastructure, has [reduced](/news/2026/4/28/oil-prices-rise-despite-irans-proposal-to-reopen-strait-of-hormuz) global oil production by 14.5 million

With 3,000 containers stuck in Pakistan, Iran explores more land routes

Hormuz continues as Iran again closed the strait, as the Iranian foreign ministry spokesman said on 20 April that Iran has no plan to participate in Pakistan talks with the US yet. EPA/ABEDIN TAHERKENAREH

Takeaway coffee sales plunge as fuel and living costs dent Australian spending. Is the economy next?

supplies continue, the greater the risk of recession. He says Australia is particularly vulnerable given its strong reliance on oil imports. “Our rough estimate is that if the flow of oil through the [strait

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

supplies. Over the past few decades Opec's influence on oil prices has "varied", says Maurizio Carulli, global energy analyst at Quilter Cheviot. A historic difficulty in Opec being effective in influencing the oil price

Jet fuel shortage: Why Iran war could ground flights in Europe

supplies from the US and elsewhere are struggling to fully compensate for lost Middle Eastern volumes. In Europe, benchmark jet fuel prices spiked to a record $1,800 per ton on March 18, before slightly

How the Iran war is hitting the UK

Strait of Hormuz has effectively been shut since early March. The International Energy Agency called it the largest supply disruption in the history of the global oil market. Oil prices have spiked, gas prices

UK airlines given green light to cancel or consolidate flights to conserve jet fuel

strait of Hormuz, a key artery for oil and gas, has been closed in effect since the beginning of March, causing an energy crisis in many countries and leading European states to fear jet fuel

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

oil and gas supply as the “greatest global energy security threat in history”. Yet on Wednesday night, Wall Street finished recouping all its earlier losses to reach its previous peak. The contrast is jarring

Fertiliser shortages will have ‘dramatic’ effect on global food prices, warns farming boss

impact on food prices globally next year, according to one of Britain’s most powerful property and farming companies. Mark Preston, [executive trustee of the 349-year-old Grosvenor Group](https://www.theguardian.com/business/2025/may/28/trump-tariff-war-global-damage-grosvenor-duke-westminster), controlled

What people in power think the impact of the Iran war will be

Strait of Hormuz south of Iran and 7,000 miles away in the White House. This week was the unique opportunity for the rest of the world to make its economic case to US President

Albanese’s visits to key allies have borne early fruits of fuel and fertiliser but ‘resilience’ is on the budget agenda

strait of Hormuz, have done little to assuage fears about ongoing supplies of oil, fuel and fertiliser. [Sign up for the Breaking News Australia email](https://www.theguardian.com/email-newsletters?CMP=copyembed&CMP=emailbutton) It’s why the fire at Geelong

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

Strait of Hormuz, a key waterway for international trade. The 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

From oil giants to banks - these companies are making billions from Iran war

impact of the war so far has been a surge in energy prices. Around a fifth of the world's oil and gas is transported through the Strait of Hormuz, but those shipments effectively ground

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

supplies  A Lufthansa passenger jet refuels at the gate at Toulouse-Blagnac Airport in France

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

oil prices soaring since the US and Israeli attacks on Iran began in February. Darren Jones, the chief secretary to the prime minister, said the conflict would probably continue to raise prices for energy, food

Airlines demand UK relax noise rules and cut flight tax as fuel shortage looms

strait of Hormuz. Last week the head of the International Energy Agency said flight cancellations would come soon if oil supplies from the Middle East were not restored, adding that [Europe had only six weeks

Deadlock over Iran's nuclear program and the Strait of Hormuz cripples peace efforts

supply and impacted living costs globally. [](https://www.npr.org/2026/04/12/g-s1-117045/hezbollah-commander-lebanon-israel) ### [Middle East conflict](https://www.npr.org/series/1205445976/middle-east-crisis)

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

Strait of Hormuz, a lifeline for India’s gas imports, continues. Meanwhile, the war continues, with the US on Sunday capturing an Iranian cargo vessel, even as Washington says it is willing to hold another

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

Hormuz, a [vital export route for oil from the Gulf](https://www.theguardian.com/world/2026/apr/08/us-iran-ceasefire-mass-exodus-ships-strait-hormuz-analysts). The US and Iran last week agreed a two-week ceasefire, but talks on ending the war failed over the weekend. [Indirect

Lufthansa cuts 20,000 flights as Iran war causes jet fuel shortage

Strait of Hormuz, the vital waterway where one-fifth of the world’s oil and liquefied natural gas supplies are normally shipped. The price of jet fuel has more than doubled in certain markets since