Articles about Gas

Month-ahead UK wholesale gas price hits highest level since August 2022 as Donald Trump threatens retaliationMiddle East crisis – live updatesBusiness live – latest updatesGas prices jumped and oil prices rose again after an escalation of attacks by Israel and Iran on gasfields heightened fears of prolonged disruption to international energy supplies.Brent crude, the global oil benchmark, rose by 8% to $116 a barrel. Crude prices have soared by nearly 60% since US and Israeli attacks on Iran started the war on 28 February. Continue reading...

Rolling coverage of the latest economic and financial newsUK wage growth slows sharply as unemployment holds steadyFed holds interest rates steady as Iran war drives up oil prices and inflation fearsMiddle East crisis live: Trump threatens to ‘blow up’ entire South Pars gasfield if Iran strikes QatarUK wage growth has slowed to a five-year low, in a worrying sign for workers as the Middle East crisis pushes up energy costs.Average pay (excluding bonuses) rose by 3.8% in the three months to January, down from 4.1% in October-December 2025, the Office for National Statistics reports.“With unemployment staying steady at 5.2% and a rare gain in payrolls employment, this report paints a mildly more positive picture of the labour market. And with wage growth softer again, in normal times this would have been a relatively reassuring report for the Bank of England.But the report feels stale in light of the Iran conflict, and the inflation risks stemming from the large spike in energy prices. So while today’s Bank of England meeting had once looked like the likely point of the next rate cut, instead policy is set to be kept on hold today as policymakers give themselves more time to see how the conflict plays out. Continue reading...

Iran war has increased gas price, with effects on UK energy bills that could be avoided, Common Wealth saysHousehold energy bills could be reduced by up to £203 a year by stopping expensive fossil gas setting the price of energy in the UK, according to a report.Under the existing system, gas – the most expensive form of electricity production in the UK system – set the price of energy 85% of the time in 2024 in the UK, even though it generates only about a quarter of Britain’s electricity. Continue reading...

People struggle to cook and businesses bear brunt as closure of strait of Hormuz slows imports of liquefied petroleum gasFor four days, Maya Rani, 36, has been arriving each morning at a gas distributor’s office in Delhi, her six-month-old daughter in her lap, waiting for hours. And each day she returns home empty-handed, told that a cooking gas cylinder may not be available for at least another week. Around her, the queue keeps growing, people clutching forms and documents, hoping to secure a cylinder.The flame in her kitchen began to fade last week and her husband, as he always does, took their 5kg cylinder to a local refiller. This time, there was nothing. The only option left was to apply for a government-subsidised supply, a process that has meant repeated visits, long waits and no certainty. Continue reading...

US president claims Israel will not attack South Pars again – but threatens to destroy ‘extremely important and valuable’ site if Iran continues to attack gas facilities in QatarMiddle East crisis – live updatesDonald Trump threatened to “massively blow up” the world’s largest gasfield after Israeli strikes on the Iranian site prompted Tehran to step up attacks on energy facilities across the Middle East.Israel’s decision to target the South Pars gasfield on Wednesday marked a major escalation of the war, heightening fears of significant disruption to international energy supplies. Continue reading...

• NSF Center for Oldest Ice Exploration at Oregon State University analyzed Allan Hills ice cores, extending histories of greenhouse gases and ocean temperatures to 3 million years ago. • Led by Julia Marks-Peterson and Sarah Shackleton, studies published in Nature reveal past climate dynamics using East Antarctic ice. • New 6-million-year-old ice discoveries and ongoing drilling will refine CO2 reconstructions and preservation methods.

US president says Israel will not launch another attack on the giant gasfield shared by Iran and Qatar, but promises to destroy it if Tehran retaliatesIsrael strikes Iran’s South Pars gasfield hours after forces kill intelligence minister Fighting intensifies between Israel and Hezbollah in southern LebanonWelcome to our continuing live coverage of the US-Israel war on Iran and the broader crisis in the region, and global economy.Donald Trump has threatened to “massively blow up” the entire South Pars gas field if Iran carries out any more retaliatory attacks on Qatar’s LNG gas facilities.The Pentagon “has asked the White House to approve a more than $200bn request to Congress to fund the war in Iran, according to a senior administration official”, the Washington Post reports.The oil price climbed towards $110 a barrel on Wednesday as the mounting threat to the Gulf’s oil and gas infrastructure fuelled concerns of more disruption to global supplies, amid the continuing blockade of the strait of Hormuz.QatarEnergy said “sizeable fires” caused extensive damage at its LNG facilities after Iranian missile attacks in the early hours of Thursday.An attack set a ship ablaze early on Thursday off the UAE coast, authorities said. The United Kingdom Maritime Trade Operations centre said “a vessel has been hit by an unknown projectile, which has resulted in a fire onboard”.French president Emmanuel Macron called for an immediate moratorium on striking civilian infrastructure, and said civilian populations and their needs must be “protected from military escalation”.Three Palestinian women were killed in an Iranian missile attack in the occupied West Bank late on Wednesday, the Palestinian Red Crescent said, in the first deadly Iranian strike there.A man was killed in central Israel in the latest round of Iranian missile fire, medics say. It brings the death roll in Israel from the war to 15.Republicans in the US Senate blocked a measure that aimed to reign in Donald Trump’s power to wage war against Iran without congressional authorisation, winning a 53-47 vote. Continue reading...

• Iranian state media reported US and Israeli attacks on the world's largest natural gas field at South Pars and other energy facilities on March 18, 2026. • The strikes coincide with US deployment of 5,000-pound bunker-buster bombs on Iranian missile sites near the Strait of Hormuz to reopen oil routes. • Escalation threatens global energy supplies, with oil prices surging and political pressure mounting on President Trump.

‘Serious risk of major ecological disaster’ as vessel drifts for weeks after being struck by suspected drone attackA severely damaged Russian tanker carrying liquified natural gas that has been adrift in the Mediterranean for two weeks, raising concerns of a “major ecological disaster”, has floated into Libyan waters, Italy’s civil protection agency said on Wednesday.The Arctic Metagaz was part of a Russian “shadow fleet” used to circumvent sanctions imposed on the country’s oil and gas after its full-scale invasion of Ukraine in February 2022. It was struck in a suspected drone attack close to Maltese waters earlier this month, causing a huge hole. The crew is believed to have been rescued between Malta and Libya. Continue reading...

Revolutionary Guards say they will strike infrastructure in Saudi Arabia, UAE and Qatar after South Pars field hitMiddle East crisis – live updatesBusiness live – latest updatesIran has threatened to attack energy infrastructure across the Gulf region in retaliation for Israeli strikes on its largest gasfield, the first targeted attacks on its fossil fuel production since the war began.Iran’s Revolutionary Guards have threatened counterstrikes on several energy facilities across Saudi Arabia, the UAE and Qatar “in the coming hours” after state media reports that missiles had targeted its gas facilities at the giant South Pars field, the largest gas reserves in the world. Continue reading...

UAE and Qatar condemn targeting of South Pars gas field; Esmail Khatib confirmed killedIran threatens Gulf energy facilities after Israeli attack on its largest gasfieldFighting intensifies between Israel and Hezbollah in southern LebanonIran is still exporting millions of barrels of oil, with about 90 ships, including oil tankers, having crossed the strait of Hormuz since the beginning of the war with Iran, according to maritime and trade data platforms reports.This is despite Iran saying it had closed the vital waterway to vessels from the US and its allies. Continue reading...

• Energy Secretary Chris Wright told NBC News that gasoline prices could decline by summer despite ongoing disruptions from the Iran war and threats to global oil supplies. • The forecast suggests potential relief from elevated energy costs that have accompanied the three-week conflict, though oil markets remain volatile due to Iranian actions in the Strait of Hormuz and retaliatory attacks on regional infrastructure. • The projection reflects administration confidence in energy supply alternatives and market stabilization even as the conflict continues to create supply-chain uncertainties.

Effective closure of strait of Hormuz also affecting Bangladesh, India and Pakistan, which have brought in crisis measuresSri Lanka is introducing a shorter four-day working week to preserve its shrinking fuel and gas reserves, as the Middle East conflict continues to severely disrupt energy supplies in the region.Countries across south Asia are facing crippling shortages of fuel and LPG gas, which are used for everything from home cooking to cremating bodies, as most supplies have been held up in the Gulf since the US and Israel began bombing Iran. Continue reading...

• Denny Hamlin overcame an early speeding penalty and drove from 31st place to win Sunday's NASCAR race at Las Vegas, securing his 61st career victory, which ranks 10th all-time in NASCAR history. • Hamlin led 134 laps en route to the victory, while Joe Gibbs Racing teammates Christopher Bell and Ty Gibbs finished in the top five, with Chase Elliott and William Byron placing second and third respectively. • The win demonstrates Hamlin's resilience and driving skill, cementing his status among NASCAR's all-time greats as the sport prepares to head to Darlington Raceway this weekend.

• US Energy Secretary Chris Wright told NBC News that gasoline prices could decline by summer despite current elevations caused by Iran war-related supply disruptions and Strait of Hormuz tensions. • The projection offers some relief to consumers facing inflationary pressures from energy markets, contingent on conflict de-escalation or resolution within the coming months.

Powerful storm chain to affect 200 million in US as it carries blizzard conditions, damaging winds and thunderstormsWinter’s grip has yet to release as an erratic patchwork of severe weather moved across much of the US, dumping heavy snow and making roads impassable in the upper midwest while damaging high winds swept across the Plains.As portions of the mid-south readied for thunderstorms, forecasters said the storms will spread eastward and by Monday threaten a large swath of the eastern US, with mid-Atlantic states and Washington DC at greatest risk for high winds and tornadoes. Continue reading...

A Chevron station just outside downtown charges more than $8 a gallon – nearly $3 more than the city’s averageIt’s tempting to think that a gas station charging more than $8 a gallon is a glamorous Los Angeles curiosity. Sort of like shopping at Erewhon, the healthy grocery chain that wows with a premium experience – and commands up to $22 a smoothie.But there’s no glamour at the 901 N Alameda Street station. It’s just a dingy Chevron on the edge of LA’s Chinatown, regularly featured in news stories to illustrate the high cost of fuel in California. Midday on Tuesday, the station charged $8.31 for a gallon of regular gas. Continue reading...

The U.S. under President Trump expanded waivers on Russian oil sanctions to all buyers, including easing restrictions on stranded oil at sea, aiming to tame surging domestic gas prices amid global tensions. EU officials pushed back against the move, while NATO leaders urged reversal of the suspension to pressure Russia. The policy shift matters as it balances inflation control against geopolitical leverage in Ukraine support, potentially providing Russia billions. Next steps include monitoring price impacts and possible congressional pushback before midterms.

Uber announced a partnership with autonomous vehicle startup Motional to deploy commercial robotaxis in Las Vegas starting this year, marking a major expansion in US self-driving technology. The service will initially operate with safety drivers before progressing to fully driverless rides, integrating with Uber's ride-hailing app for seamless user access. This launch positions Las Vegas as a key testing ground for robotaxi scalability amid competition from Waymo and Cruise. Industry observers anticipate broader US rollouts by 2027 as regulatory hurdles ease under the Trump administration.

This blog is now closedAustralia to release nearly 20% of fuel stockpile as Bowen insists country ‘nowhere near’ running outGet our breaking news email, free app or daily news podcastJoyce says surge in support for One Nation reflects will of the people, not political jostlingBarnaby Joyce spoke to RN Breakfast this morning about One Nation’s targets in the next federal election.We want to win seats wherever they are. We have no real target against National seats or Liberal seats, but we want to give people the option to vote for us in Labor seats, in National seats, and Liberal seats, and in teal seats.If people choose to vote for One Nation, then you must respect that choice. You must understand. You do not own their vote. You earn their vote. Continue reading...