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Shell boss warns of ‘huge impact on trade’ if Israel-Iran conflict escalates

ByLauren Almeida

Blockage of strait of Hormuz, through which about 25% of world’s oil passes, could shock energy market, says Wael Sawan• Business live – latest updatesAn escalation in the Middle East conflict could have a “huge impact on global trade”, the boss of the…

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Will the new Middle East crisis rock the world economy? The markets say no – but I fear they’re wrong | Larry Elliott

ByLarry Elliott

The oil shocks of the 1970s-90s had brutal economic impacts. As Israel attacks Iran, a moderate rise in oil prices rests on questionable assumptionsFinancial markets picked up the clear message when Donald Trump cut short his stay at the G7 summit in t…

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Iran and Israel crisis: what does it mean for the price of oil?

ByJillian Ambrose and Lisa O'Carroll

Banks and forecasters say price trajectory will depend on how far the military and humanitarian crisis escalatesBusiness live – latest updatesMiddle East crisis – latest updatesThe escalating crisis between Israel and Iran has already triggered the lar…

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UK petrol prices poised to rise as Israel-Iran conflict pushes up cost of oil

ByJulia Kollewe

Oil price increase likely to add 5p to petrol and diesel over the next couple of months, expert saysBusiness live – latest updatesBritons are braced for higher prices at the pumps, after a rise in oil prices caused by the conflict between Israel and Ir…