124 resultsfor “Impact of Iran war on oil supplies”
war in late February. The effective closure of the strait of Hormuz – which Iran’s Islamic Revolutionary Guard Corps said on Wednesday [could soon reopen](https://www.theguardian.com/world/live/2026/may/06/trump-iran-hormuz-us-project-freedom-live-updates-middle-east-crisis?filterKeyEvents=false&page=with%3Ablock-69fb1cad8f08d59811001e38#block-69fb1cad8f08d59811001e38) – has throttled global supplies of fertiliser, crucial
supply issues – particularly of oil from the Gulf region, which has largely stopped since the US and Iran blockaded the Strait of Hormuz. And, in Lebanon, which had already been suffering from an economic crisis
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
impact from the Iran conflict and “short-term adjustments to travel plans”, the airport said. However, the number of transfer passengers transiting for onward flights rose 10% in April year-on-year, as travellers rerouting
Iran war and the disruption in oil supplies. So Trump surprised White House reporters by bringing them to a platform overlooking the construction site on a hot and breezy morning as workers in hard hats
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
supplies remain trapped in the region. Here is what we know: ## In Iran - **Iran presses US on peace proposal:** Iran’s chief negotiator and Parliament Speaker Mohammad Bagher Ghalibaf said Washington must accept Tehran
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
war against Iran might boost the revenues of AML Global, an aviation fuel company owned by Christopher Harborne, who gave Farage the £5m in 2024. Farage initially supported the US-Israeli attacks on Iran
war in Iran caused a global surge in oil and gas markets, creating the second energy price shock in four years. But experts have warned that proposals set out earlier this year to de-link
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
Iran, there is another looming concern that particularly affects Europe: the risk that supplies could actually run short. In mid-April, the head of the International Energy Agency (IEA), which advises 32 member governments
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
Iran](https://www.theguardian.com/world/iran). It took more than three weeks after a drone strike on the British Akrotiri base in Cyprus to deploy HMS Dragon into the eastern Mediterranean, and the destroyer later
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
impacting Mexican producers and threatening a stable food supply, especially for low-income residents. Elvira Pasillas, professor at the Western Institute of Technology and Higher Education (ITESO), noted that low-income households spend nearly
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
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
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
oil tankers may still be stuck behind the strait of Hormuz as the conflict between the US, Israel and Iran flickers on, but for now, airlines continue to defy dire warnings of impending shortages which