Economics – War Watch

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UK shoppers return to high street as warm weather brings respite from shadow of war
ByPhillip Inman June 5, 2026

British Retail Consortium figures show footfall rose in May, with consumer confidence improving after spending squeezeGreater numbers of consumers went shopping last month as spring sunshine brought welcome relief to retailers, which have faced a squee…

Read More UK shoppers return to high street as warm weather brings respite from shadow of war
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With oil markets nearing the danger zone, a US-Iran deal can’t come soon enough | Heather Stewart
ByHeather Stewart May 24, 2026May 24, 2026

Global prices are approaching a tipping point that could trigger inflation, shortages and, over time, recessionIf a US-Iran deal is about to be reached, three months on from the launch of Donald Trump’s Operation Epic Fury, it will not be a day too soo…

Read More With oil markets nearing the danger zone, a US-Iran deal can’t come soon enough | Heather Stewart
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‘Inevitable’ jet fuel shortages will drive up air fares this summer, says Willie Walsh
ByJulia Kollewe May 14, 2026

Impact of disruption from Iran war may be felt into 2027 even if strait of Hormuz reopens, says aviation body bossIncreases in air fares for travellers in Europe are “inevitable” over the peak summer period because of the high cost of jet fuel, accordi…

Read More ‘Inevitable’ jet fuel shortages will drive up air fares this summer, says Willie Walsh
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‘It’s like we went bankrupt overnight’: poorest Somalis suffer as piles of worthless shillings mount up
ByMohamed Gabobe in Mogadishu May 11, 2026

Banknotes are now so tattered that even buses refuse to accept them, as a dollarised economy and mobile phone payments push up the cost of essentialsAs US troops withdrew from Somalia in the spring of 1994, a teenaged Muse Omar Jama began working as an…

Read More ‘It’s like we went bankrupt overnight’: poorest Somalis suffer as piles of worthless shillings mount up
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‘Degree of complacency’: are supply chains prepared for impact of ongoing Iran war?
ByHeather Stewart and Jasper Jolly May 10, 2026

The economic warnings are bleak, but full extent of shortages are still not felt for many European countriesThe biggest energy shock in modern history, jet fuel shortages “within weeks”, a global recession – since Iran throttled shipping flows through …

Read More ‘Degree of complacency’: are supply chains prepared for impact of ongoing Iran war?
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Oil prices fall as Trump says strait of Hormuz ‘open to all’ if Iran accepts deal
ByLauren Almeida May 6, 2026May 6, 2026

US president says war will end if Tehran agrees to deal, but that ‘bombing starts’ again if it does notOil prices fell and stock markets rose as Donald Trump said the war with Iran would end and the strait of Hormuz would be “open to all” if Tehran str…

Read More Oil prices fall as Trump says strait of Hormuz ‘open to all’ if Iran accepts deal
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Oil price tops $126 a barrel after Trump warns Iran blockade could last ‘months’
ByMark Saunokonoko April 30, 2026April 30, 2026

Markets spooked as US president appears willing to keep up naval blockade and Iran keeps strait of Hormuz all but shutBusiness live – latest updatesThe global oil price has soared above $126 a barrel, its highest level since 2022, after Donald Trump sa…

Read More Oil price tops $126 a barrel after Trump warns Iran blockade could last ‘months’
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The Guardian view on the true cost of the Iran war: bombs kill – but so does the economic fallout | Editorial
ByEditorial April 21, 2026

There is growing international concern as the fragile two-week ceasefire reaches its Wednesday deadline. Whatever happens next, the poor will payMore than 3,300 Iranians, including 383 children, have been killed since the US and Israel launched their i…

Read More The Guardian view on the true cost of the Iran war: bombs kill – but so does the economic fallout | Editorial
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Relief in financial markets after Iran ceasefire – but it is far from absolute | Richard Partington
ByRichard Partington Senior economics correspondent April 8, 2026April 8, 2026

Situation still volatile as Tehran and Washington issue conflicting messages about opening of Hormuz channelA plunge in the oil price, stock market rally and renewed hopes for the global economic outlook. After the announcement of a two-week ceasefire …

Read More Relief in financial markets after Iran ceasefire – but it is far from absolute | Richard Partington
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Will shipping in the strait of Hormuz – and oil prices – return to normal?
ByJoanna Partridge and Jillian Ambrose April 8, 2026April 8, 2026

Analysts say doubts over stability of the ceasefire and damage to production sites mean the energy crisis is far from overMiddle East crisis – live updatesIf the US-Israeli ceasefire with Iran holds, it could offer the clearest hope of an end to the en…

Read More Will shipping in the strait of Hormuz – and oil prices – return to normal?