Global economy – War Watch

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Tallying the global cost of the US-Israel war against Iran
ByOliver Holmes, graphics by Paul Scruton June 15, 2026

From thousands of lives lost to an economic shock likely to plunge millions into poverty, the world is paying dearlyIt would be hard to find a human on Earth unaffected by the US-Israel war against Iran. Several thousand have been killed. Millions more…

Read More Tallying the global cost of the US-Israel war against Iran
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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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‘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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Could the UAE’s shock exit from Opec cause an oil price war?
ByJillian Ambrose April 30, 2026

A standoff between Gulf oil giants Saudi Arabia and the UAE could cause greater market volatility for years to comeThe conflict in the Middle East has claimed Opec as the latest casualty of war. The United Arab Emirates’ shock exit from the oil cartel …

Read More Could the UAE’s shock exit from Opec cause an oil price war?
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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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Number of billionaires globally could reach 4,000 in next five years
ByLauren Almeida April 23, 2026

There are now 3,110 billionaires but analysis shows ‘deep structural acceleration’ in wealth creation around worldThe number of billionaires in the world could reach nearly 4,000 by 2031, figures suggest, as the super-rich accumulate wealth at an accel…

Read More Number of billionaires globally could reach 4,000 in next five years
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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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‘Mental breakdown’: oil tanker workers stuck in Gulf for six weeks are reaching their limit
ByJillian Ambrose and Joanna Partridge April 9, 2026

Seafarer tells of ‘impossible’ situation, with strait still so unsafe that crew would not cross even if told to sailMaritime and port workers: how is the Middle East conflict affecting you?‘You can try to minimise the impact that this situation has on …

Read More ‘Mental breakdown’: oil tanker workers stuck in Gulf for six weeks are reaching their limit