Oil – Page 7 – War Watch

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What the US–Israeli strikes on Iran mean for the price of oil
ByJillian Ambrose March 1, 2026March 1, 2026

Effective closure of the strait of Hormuz could spell trouble for many developed economiesUS-Israel war on Iran – latest updatesThe US-Israeli war on Iran has ignited fears that escalating military aggression in the Middle East could send oil prices so…

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Tony Blair’s oil lobbying is a misleading rehash of fossil fuel industry spin
ByFiona Harvey Environment editor February 13, 2026

Ex-PM’s thinktank urges more drilling and fewer renewables, ignoring evidence that clean energy is cheaper and better for billsA thinktank with close ties to Saudi Arabia and substantial funding from a Donald Trump ally needs to present a particularly …

Read More Tony Blair’s oil lobbying is a misleading rehash of fossil fuel industry spin
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‘Ticking time bomb’: Iran’s shadow fleet of old tankers ‘risking catastrophic oil spill’
ByDamian Carrington Environment editor February 10, 2026

Exclusive: only matter of time until decrepit ships cause spill bigger than Exxon Valdez disaster, analysts sayDecrepit oil tankers in Iran’s sanctions-busting shadow fleet are a “ticking time bomb”, with a catastrophic environmental disaster only a “m…

Read More ‘Ticking time bomb’: Iran’s shadow fleet of old tankers ‘risking catastrophic oil spill’
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$170,000 a minute: why Saudi Arabia is the biggest blocker of climate action
ByDamian Carrington Environment editor November 15, 2025

Desert kingdom depends on oil dollars but its people already face a climate ‘at the verge of livability’. What’s going on? Continue reading…

Read More $170,000 a minute: why Saudi Arabia is the biggest blocker of climate action
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State-sanctioned fuel smuggling cost Libya $20bn over three years – report
ByPatrick Wintour Diplomatic editor November 12, 2025

Policy body calls for western-backed investigation into oil officials known to be at heart of illegal enterpriseA surge in state-sanctioned fuel smuggling between 2022 and 2024 cost the Libyan people about $20bn (£15bn) in lost revenue – an alarming su…

Read More State-sanctioned fuel smuggling cost Libya $20bn over three years – report
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State-sanctioned fuel smuggling cost Libya $20bn over three years – report
ByPatrick Wintour Diplomatic editor November 12, 2025November 13, 2025

Policy body calls for western-backed investigation into oil officials known to be at heart of illegal enterpriseA surge in state-sanctioned fuel smuggling between 2022 and 2024 cost the Libyan people about $20bn (£15bn) in lost revenue – an alarming su…

Read More State-sanctioned fuel smuggling cost Libya $20bn over three years – report
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Iraq’s marshes were considered an Eden. Now the oil industry is sucking them dry
ByAzhar Al-Rubaie, Sara Manisera and Daniela Sala in Hawizeh Marshes August 13, 2025

Hawizeh’s wetlands once had abundant fishing and wildlife. In a land threatened by drought and desertification, oil drilling is draining the last of the waterAt dawn, a veil of mist clings to the canals of Hawizeh, where sky and water seem to blur into…

Read More Iraq’s marshes were considered an Eden. Now the oil industry is sucking them dry
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Oil prices pare back losses amid doubts over Israel-Iran ceasefire
ByCallum Jones in New York June 23, 2025June 24, 2025

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…

Read More Oil prices pare back losses amid doubts over Israel-Iran ceasefire
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Reeves calls for Middle East de-escalation amid oil price fears
ByHeather Stewart Economics editor June 23, 2025

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…

Read More Reeves calls for Middle East de-escalation amid oil price fears
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Reeves calls for Middle East de-escalation amid oil price fears
ByHeather Stewart Economics editor June 23, 2025June 23, 2025

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…

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