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IEA orders largest ever release of stockpiled oil to reduce crude price
ByJoanna Partridge March 11, 2026March 11, 2026

Members agree unanimously to release about 400m barrels amid market volatility caused by Iran warBusiness live – latest updatesMiddle East crisis live – latest updatesThe International Energy Agency has ordered the largest release of government oil res…

Read More IEA orders largest ever release of stockpiled oil to reduce crude price
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Why Iran’s vital Kharg Island oil hub is still untouched by US-Israel bombers
ByDan Sabbagh Defence and security editor March 11, 2026

While some argue for destroying the terminal though which 90% of Iran’s oil exports flow, others caution of a global market ‘tailspin’Kharg Island – through which 90% of Iran’s oil exports flow – is arguably the country’s most sensitive economic target…

Read More Why Iran’s vital Kharg Island oil hub is still untouched by US-Israel bombers
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Three merchant ships struck as tensions rise in Hormuz strait amid Iran war
ByMark Saunokonoko and agencies March 11, 2026March 11, 2026

Crew of Thai-registered bulk carrier forced to flee fire, as US says it has destroyed 16 Iranian mine-laying vesselsMiddle East crisis live – latest updatesThree merchant ships have been struck in and around the strait of Hormuz, including a Thai regis…

Read More Three merchant ships struck as tensions rise in Hormuz strait amid Iran war
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It’s not just influencers who move to Dubai | Letters
ByGuardian staff March 10, 2026

Ordinary people and families have made their homes there, writes Mark Husbands. Plus a letter from Jessamy HadleyRegarding Gaby Hinsliff’s article (Influencers sold the world a fantasy Dubai – and now it’s gone in a puff of missile smoke, 6 March),&nbs…

Read More It’s not just influencers who move to Dubai | Letters
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How are EU and member states reacting to energy crisis triggered by Iran war?
ByLisa O’Carroll March 10, 2026

Prospect of Trump easing US sanctions on Russian oil is a nightmare for the bloc as nations work out how to respond Middle East crisis – live updatesThe Iran war has thrown global oil and gas flows into chaos and the prospect of Donald Trump easing US …

Read More How are EU and member states reacting to energy crisis triggered by Iran war?
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Aramco warns of oil market ‘catastrophe’ unless strait of Hormuz reopens soon
ByJillian Ambrose March 10, 2026March 10, 2026

Saudi Arabian state oil firm calls crisis by far the biggest the region has seen but firm can reroute 70% of exports and tap crude held in storageHow the Iran conflict could affect energy prices – video explainerSaudi Arabia’s state oil company has war…

Read More Aramco warns of oil market ‘catastrophe’ unless strait of Hormuz reopens soon
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Cathay Pacific offers £20,000 Sydney to London flight amid disruption in Gulf
ByGwyn Topham Transport correspondent March 10, 2026

Hong Kong-based airline has business-class return listed at A$39,577, as travellers seek routes avoiding Middle EastBusiness live – latest updatesThe Hong Kong-based airline Cathay Pacific is selling seats from Sydney to London for more than £20,000 in…

Read More Cathay Pacific offers £20,000 Sydney to London flight amid disruption in Gulf
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How the Iran conflict could affect prices around the world – video explainer
ByAcacia Redding, Maheen Sadiq and Jillian Ambrose March 10, 2026

Oil markets have had some of the steepest price rises ever recorded as conflict in the Middle East escalated over the last week. Although the world is slowly becoming greener, fossil fuels are still the lifeblood of every economy so when oil and gas pr…

Read More How the Iran conflict could affect prices around the world – video explainer
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Trump’s ‘free flow of energy’ vow fails to restart shipping in strait of Hormuz
ByDaniel Boffey Chief reporter March 10, 2026

Only two vessels not linked to Iran or Russia have braved ‘chicken run’ since US president’s promise on FridayMiddle East crisis – live updatesOnly two vessels not linked to Iran or Russia have made the “chicken run” through the strait of Hormuz since …

Read More Trump’s ‘free flow of energy’ vow fails to restart shipping in strait of Hormuz
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How high could oil go, and what might the global economic fallout be?
ByRichard Partington Senior economics correspondent March 9, 2026

There is talk of crude surpassing its record high of 2008 with potentially dire effects for consumers and businessesFears over the global economy have been stoked by the oil price soaring past $100 a barrel as a result on the US-Israel war with Iran.Ec…

Read More How high could oil go, and what might the global economic fallout be?