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Oil prices pare back losses amid doubts over Israel-Iran ceasefire

ByCallum Jones in New York

Stock markets including FTSE 100 edge higher as traders hope conflict will not disrupt oil suppliesBusiness live – latest updatesOil prices have pared back losses after a sharp fall triggered by Donald Trump’s declaration of a ceasefire between Israel…

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Reeves calls for Middle East de-escalation amid oil price fears

ByHeather Stewart Economics editor

Government announces plan to cut firms’ electricity bills as part of launch of its industrial strategyUK industrial strategy: the key pointsBusiness live – latest updatesRachel Reeves has called for de-escalation of the conflict in the Middle East, war…

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Reeves calls for Middle East de-escalation amid oil price fears

ByHeather Stewart Economics editor

Government announces plan to cut firms’ electricity bills as part of launch of its industrial strategyBusiness live – latest updatesRachel Reeves has called for de-escalation of the conflict in the Middle East, warning that rising global oil prices cou…

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US strikes on Iran could damage global growth, says IMF chief

ByLauren Almeida

Oil prices could rise if Iran goes ahead with threat to shut down shipping in the strait of HormuzBusiness live – latest updatesUS strikes on Iran could damage global economic growth, the head of the International Monetary Fund has warned.Director Kris…

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The strait of Hormuz: how could Iran close it and why does it matter to global trade?

ByGuardian staff and agencies

Iran’s parliament approved a measure to close the vital global trade route, through which more than a fifth of the world’s oil supply passes through dailyTrump floats regime change in Iran – follow it livePresident Donald Trump’s unprecedented decision…

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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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Middle East crisis risks igniting inflation. Here are the markets to watch out for in Australia

ByJonathan Barrett and Patrick Commins

Interest rate cuts still likely, experts say, but oil and gold prices are up and the share market is likely to remain volatileGet our breaking news email, free app or daily news podcastThe escalating conflict between Israel and Iran has put global mark…

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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…