Oil – 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
Ayatollah Ali Khamenei | Benjamin Netanyahu | Donald Trump | Gaza | Iran | Iran's nuclear programme | Israel | Israel–Iran War | Middle East and north Africa | Nuclear weapons | Oil | Palestinian territories | Petrol prices | US news | US-Israel war on Iran | World news

Monday briefing: Trump’s late-night deal with Iran
ByJacqueline Housden June 15, 2026

In today’s newsletter: A peace deal between the US and Iran has been announced, but what it contains, and what could happen next, remain unclearGood morning. A war which had no clear objectives and no obvious endgame, but unleashed havoc across the glo…

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Oil prices hit three-month low and markets reach record high amid Iran deal breakthrough
ByJillian Ambrose and Jonathan Barrett June 15, 2026June 15, 2026

Donald Trump posts ‘Let the oil flow’ as US-Iran peace deal sparks immediate drop for Brent crudeAnalysis: Oil and gas unlikely to return to prewar prices for months even if Hormuz reopensBusiness live – latest updatesMiddle East crisis: live updatesGl…

Read More Oil prices hit three-month low and markets reach record high amid Iran deal breakthrough
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What may be included in proposed Iran ceasefire deal?
ByYohannes Lowe May 24, 2026

Proposed framework hinges on a 60-day truce, reopening strait of Hormuz, and revived talks on limiting Iran nuclear programme• Middle East crisis: live updatesDonald Trump has said a “memorandum of understanding” in talks to end the US-Israel war on Ir…

Read More What may be included in proposed Iran ceasefire deal?
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Marco Rubio says ‘significant’ progress made in talks with Iran – video
ByMiddle East and north Africa | The Guardian May 24, 2026

US secretary of state tells reporters peace talks with Iran have progressed but cautions that a deal not ‘final’ at this stage Continue reading…

Read More Marco Rubio says ‘significant’ progress made in talks with Iran – video
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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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Oil markets nearing ‘red zone’ as summer travel season nears, warns IEA chief
ByPatrick Wintour Diplomatic editor May 21, 2026

Surging demand, low reserves and reduced Middle East exports predicted to cause global crunch by AugustOil markets will enter the “red zone” by July and August as stocks dwindle before the summer travel season amid a shortage of fresh oil exports from …

Read More Oil markets nearing ‘red zone’ as summer travel season nears, warns IEA chief
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UAE to complete second oil pipeline bypassing strait of Hormuz by 2027
ByJillian Ambrose Energy correspondent May 15, 2026

State oil company fast-tracks previously undisclosed project, which is expected to double export capacityBusiness live – latest updatesThe United Arab Emirates has announced it will complete a new oil pipeline bypassing the strait of Hormuz by next yea…

Read More UAE to complete second oil pipeline bypassing strait of Hormuz by 2027
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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 …

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