Articles about Iran Energy

• President Trump extended the strike deadline on Iran's energy sector while warning that failure to accept current negotiation terms would result in "far greater military consequences," according to White House statements. • The White House confirmed ongoing negotiations with Iranian leadership despite military operations continuing at historic levels, with Iranian leadership described by Trump as "desperate to negotiate."

US president says he is extending deadline for strait of Hormuz to reopen to 6 April; Houthis tell Lloyd’s List ‘no reason’ to prevent Saudi oil using Red Sea routeFull report: Trump extends deadline Analysis: Trump pitches peace plan but military buildups rarely veer to off-rampHello and welcome to our continuing live coverage of the US-Israel war on Iran and the consequences for the region, the world, and the global economy.Here are the latest developments:Donald Trump said he will extend – once again – his pause on his threat to attack Iran’s energy infrastructure for 10 days until 6 April, claiming that the request came from Tehran and that talks were going “very well”. The US president threatened last Saturday to would strike Iranian energy infrastructure if Tehran did not reopen the strait of Hormuz. Then, on Monday he postponed his threat for five days (until Friday), citing “very good and productive conversations” with Iran on ending the war (which Tehran dismissed as “fake news” designed to “manipulate” the oil markets). Now, he’s pushing that deadline back, again.The price of Brent crude also dropped following Trump’s latest announcement. Oil prices rose to their highest level this week, with Brent crude trading at roughly $108 a barrel after Trump’s cabinet meeting earlier on Thursday.Yemen’s Houthis have said there is no need to worry amid fears that if Donald Trump follows through on threats to seize Iran’s Kharg Island, Tehran may ask them to attack shipping in the Red Sea.A day after Tehran dismissed Trump’s 15-point ceasefire plan, the US president claimed that Iran was “begging to make a deal,” and that he wasn’t the one pushing for negotiations. Earlier, he told Tehran to “get serious soon” on negotiating a deal to end the war.Trump rejected reports that he was looking for an exit ramp, as oil prices soar and political pressure mounts to avoid the kind of drawn-out Middle East war he once spurned. “I read a story today that I’m desperate to make a deal,” Trump told reporters. “I’m the opposite of desperate. I don’t care.”A US proposal for ending nearly four weeks of fighting is “one-sided and unfair”, a senior Iranian official told Reuters on Thursday.However, Trump said Iran is allowing some oil tankers through strait of Hormuz as a sign of good faith for talks. He said that Iran allowed 10 oil tankers to pass through the strategic strait as a “present” to show it was serious about negotiations to end the war.The Pentagon is looking at sending up to 10,000 additional ground troops to the Middle East to give Trump more military options even as he weighs peace talks with Tehran, the Wall Street Journal is reporting, quoting defence department officials with knowledge of the planning.The Israel Defence Forces’ chief of staff has warned that the military will “collapse in on itself” as it faces increasing demands and a growing manpower shortage while fighting on multiple fronts, according to Israeli media reports.A Thai-flagged cargo ship that was hit by unknown projectiles in the strait of Hormuz earlier this month has run aground off Iran’s Qeshm Island, Iran’s Tasnim news agency said on Friday. Continue reading...

February annual rate in line with analysts’ expectations but outlook has shifted because of effects of conflictThe UK inflation rate was unchanged at 3% in February, before Donald Trump’s Iran war drove up global energy costs, threatening a renewed price jump.Official figures showed the consumer prices index (CPI) remained at 3%, in line with economists’ expectations but still well above the government’s 2% target. Continue reading...

President’s declaration allows officials to tackle fuel hoarding or profiteering, while energy secretary says country will lean more heavily on coalMiddle East crisis – live updates Philippine President Ferdinand Marcos has declared a state of “national energy emergency” as a result of the Middle East war, which his administration said posed “an imminent danger of a critically low energy supply”.The state of emergency, which will initially last for a year, was declared just hours after the country’s energy secretary said the Philippines planned to boost the output of its coal-fired power plants to keep electricity costs down as the war wreaks havoc with gas shipments. Continue reading...

Iranian parliament speaker says ‘no negotiations’ held with US, as Trump postpones energy strikes for five days; European Commission chief says war must come to negotiated endTrump claims ‘productive’ talks with Iran but Tehran denies contactIsrael launches new strikes on Tehran as Trump pauses Iran energy attacksWelcome to our ongoing coverage of the US-Israeli war on Iran and its wider repercussions in the Middle East and globally.Donald Trump has claimed the US and Iran have held talks in which the two sides had “major points of agreement”, and speculated that a deal could soon be done to end the war, a claim contradicted by Tehran.Trump said the threatened US strikes on Iranian power plants had been postponed after “very good and productive” discussions with Iran about a “complete and total resolution of our hostilities” in the Middle East. After hitting a four-year high, the price of oil fell dramatically following Trump’s comments, while stocks in Asia rallied.Benjamin Netanyahu, meanwhile, said he had spoken with Trump, who saw a chance of an agreement with Iran, but added that Israel would continue its strikes against Iran and Lebanon. Trump believed there was a possibility of “leveraging the mighty achievements obtained by the Israeli and the US military, in order to realise the goals of the war in a deal – a deal that will preserve our vital interests”, the Israeli prime minister claimed in a video statement released by his office.Israel said it had launched “wide-scale” strikes on Iran on Monday morning, while Tehran continued to fire missiles at the UAE and Saudi Arabia. The Israeli military also claimed to have hit struck the main security headquarters of Iran’s Islamic Revolutionary Guard Corps as part of a “wave of strikes that was completed a short while ago in the heart of Tehran”.An Israeli strike also hit Beirut’s southern suburbs on Monday, Agence France-Presse quoted state media as saying, hours after the Israeli army issued an order for residents of the area to evacuate. An AFPTV live broadcast showed a cloud of smoke over the densely populated southern suburbs, which are considered a Hezbollah stronghold and have not been hit since Friday night. Continue reading...

Tehran denied negotiations that delayed US strikes and Trump was vague on the details, but talks signal renewed push for peace from regional powersThere have been so many abortive rounds of diplomacy between the US and Iran – the latest appearing to be led by Pakistan after Washington has burned through many other regional mediators – that it was hardly a surprise that President Trump’s claims of “very good” talks with Tehran initially provoked disbelief – especially after Iran denied that any negotiations were taking place at all.Nonetheless, standing beside Air Force One, Trump did his best to sell the sudden detente with little detail as a US ultimatum to bomb Iran’s power plants loomed unless Tehran opened up the strait of Hormuz. It was lost on few that the sudden about-face came just hours before US markets were to open for what promised to be another punishing round of trading on Monday. Continue reading...

• Brent crude oil prices showed modest gains of approximately 1% despite elevated geopolitical rhetoric, indicating potential underestimation of conflict escalation risks by the energy market. • Energy price volatility is creating supply chain pressures and financial stress for corporations, with rising energy costs cited as a major factor in corporate capacity reduction decisions and market-wide weakness. • The US government's expanding influence over global energy markets reflects efforts to manage price stability and geopolitical risks, with EPA Administrator Lee Zeldin discussing energy policy responses on financial media.

Israeli military says it will continue operations in line with Israeli government directives until told otherwiseMiddle East crisis – live updatesThe Israeli military said it had launched a new wave of strikes on Tehran, after Donald Trump signalled a pause in US attacks against energy infrastructure after what he said were talks with Iran.The Israeli Defense Forces (IDF) said it would continue operations in line with Israeli government directives until told otherwise. Continue reading...

Fatih Birol says effects on energy markets from Iran bombings and closure of strait of Hormuz not initially understood by world leaders. Plus, feminist magazine reclaims Charlie Kirk-style campus toursGood morning.The global energy crisis caused by the war in Iran is equivalent to the combined force of the twin oil shocks of the 1970s and the fallout from Russia’s invasion of Ukraine, the head of the International Energy Agency has said.Why is the ex-CIA chief Leon Panetta in the news? He has spoken out about Donald Trump’s attack on Iran, telling the Guardian the US president is “sending a message of weakness” to the world.What’s the latest in Iran? Its government is threatening to lay mines across entire Gulf if its coasts are attacked.This is a developing story. Follow our liveblog here.What happened? The aircraft hit the fire truck while travelling at about 24mph, according to the flight-tracking website Flightradar24. In the moments before the crash, an air traffic controller could be heard giving clearance to a fire vehicle to cross part of the runway, then trying to stop it. The controller can then be heard quickly diverting incoming aircraft from landing. Continue reading...

Fatih Birol says effect on energy markets of Iran bombings and closure of Hormuz strait not initially understood by world leadersMiddle East crisis live – latest updatesThe global energy crisis caused by the war in Iran is equivalent to the combined force of the twin oil shocks of the 1970s and the fallout of Russia’s invasion of Ukraine, the head of the International Energy Agency has warned.Fatih Birol, the IEA’s executive director, said the growing fallout could be seriously compounded through interuptions to the “vital arteries of the global economy”, including petrochemicals, fertilisers, sulfur and helium. Continue reading...

Fatih Birol says world is losing 11m barrels of oil per day, more than the 1973 and 1979 energy shocks combined; IRGC threatens to completely close strait of Hormuz if Trump acts on infrastructure threatsIran vows to destroy Middle East water and energy facilities if US attacks power plantsAFP is reporting that stocks have fallen while oil prices rose after Donald Trump and Iranian leaders traded threats over the key strait of Hormuz and Israel said the Middle East war could last several more weeks.The escalation hammered stock markets, with Seoul and Tokyo – which had been the standout performers before the war started – taking the brunt of the selling, shedding as much as six and five percent, respectively, at one point.Iranian president Masoud Pezeshkian said “threats and terror” are strengthening Iranian unity, after Donald Trump yesterday warned he would “obliterate” Iranian power plants if the strait of Hormuz is not opened within 48 hours.The price of oil increased early on Monday after Trump’s 48-hour ultimatum for Iran to open the strait of Hormuz or face decimation of its energy infrastructure – and Israel warned the war would continue for several more weeks. Shortly after the 2200 GMT open, the price of West Texas Intermediate – the US benchmark crude – for May delivery was up 1.8% to just over $100 a barrel, before retreating slightly.The US treasury secretary, Scott Bessent, gave an interview to NBC News earlier today. When asked if Trump was “winding” down the war or “escalating” it, Bessent said: “They are not mutually exclusive. Sometimes you have to escalate to de-escalate.”In the same NBC interview, Bessent said the US government has “plenty of money” to fund the war against Iran, but is requesting supplemental funding from Congress to ensure the military is well supplied in the future.Lebanon’s health ministry said Sunday that 118 children and 79 women are among those killed, and at least 2,786 others have been wounded, according to the Associated Press. The country’s death toll as of Saturday was 1,024 people.The director general of the International Atomic Energy Agency (IAEA), Rafael Grossi, said he hopes to “re-establish” talks between Iran and the US about Tehran’s nuclear program despite the escalating nature of the conflict. “I’ve been having important conversations here at the White House, and also with Iran. There are some contacts, and we hope to be able to reestablish that line,” Grossi told CBS News.UK prime minister Keir Starmer and US president Trump spoke by phone Sunday evening, according to a statement from the UK government. “The leaders discussed the current situation in the Middle East, and in particular, the need to reopen the Strait of Hormuz to resume global shipping.”Pope Leo on Sunday said death and suffering caused by the war in the Middle East are a “scandal to the whole human family”, as he once again pleaded for an immediate ceasefire. “We cannot remain silent in the face of the suffering of so many people, the defenseless victims of these conflicts. What hurts them hurts the whole of humanity,” Leo said at his weekly Angelus prayer in St. Peter’s Square. Continue reading...

Energy and oil sites across region would become ‘legitimate targets’, Tehran saysMiddle East crisis live – latest updatesIran has said it will “irreversibly destroy” essential infrastructure across the Middle East if the US attacks its energy sites, hours after Donald Trump threatened to “obliterate” the country’s power plants if the strait of Hormuz was not opened within two days.As Iranian missiles struck two southern Israeli cities overnight, injuring dozens and shattering apartment buildings, the developments signalled a dangerous potential escalation of the war in the Middle East, which is now in its fourth week. Continue reading...

Foreign minister issues warning after Israeli attack on South Pars gasfield that prompted retaliatory strike on Qatar. Plus, what happened to the Oscars red carpet after the ceremony?Good morning.Iran has said it will show “zero restraint” if its energy infrastructure is targeted again as Qatar revealed that almost a fifth of its liquefied natural gas export capacity had been knocked out in an Iranian strike that is likely to have a years-long impact.What did Araghchi say? In a post on X, he said: “Our response to Israel’s attack on our infrastructure employed FRACTION of our power. The ONLY reason for restraint was respect for requested de-escalation. ZERO restraint if our infrastructures are struck again.”What’s the forecast for next week? More heat is in store for the coming days. By the end of the week, 100 cities could set all-time temperature records for the month of March, with temperatures climbing as high as 30F (17C) above average for the time of year, the new analysis says. Continue reading...

Consultancy’s forecast of £1,972 annual dual fuel bill follows conflict pushing UK’s gas market past three-year highsBusiness live – latest updatesHousehold energy bills in Great Britain could soar by more than £330 a year to almost £2,000 from this summer after the war in Iran pushed the UK’s gas market past three-year highs.A typical combined household gas and electricity bill is now forecast to reach £1,972 a year from July under the UK government’s quarterly price cap, according to analysis by Cornwall Insight, an energy consultancy. Continue reading...

Foreign minister issues warning after Israeli attack on South Pars gasfield, as Qatar reels from retaliatory strike‘Doomsday scenario’: a visual guide to the oil and gas site attacks in the Middle EastMiddle East crisis – live updatesIran said on Thursday it would show “zero restraint” if its energy infrastructure was targeted again, as Qatar revealed that almost one-fifth of its liquefied natural gas export capacity had been knocked out in an Iranian strike, in an attack likely to have a years-long impact.The warning, delivered by the Iranian foreign minister, Abbas Araghchi, follow Israel’s attack on the Iran’s massive South Pars gasfield – which it shares with Qatar – which triggered Iranian retaliatory strikes on Qatar’s Ras Laffan gas complex and other Gulf neighbours, sending stock markets tumbling globally and triggering sharp increases in gas prices. Continue reading...

• Iran hit Qatar's Ras Laffan Industrial City energy hub with missiles on March 18, 2026, causing extensive damage to QatarEnergy facilities. • Tehran also fired four ballistic missiles at Riyadh and attempted a drone attack on a Saudi gas facility, both intercepted by Saudi defenses. • The attacks mark a major escalation in the US-Israel-Iran war, driving oil prices higher and disrupting global supplies.

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...

• 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.

• 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.

• Iran has threatened to block the Strait of Hormuz and destroy oil tankers in retaliation for U.S. airstrikes on its oil infrastructure, creating unprecedented pressure on global oil supplies. • The world's oil supply is now under intensifying pressure, with the effective closure of the Strait of Hormuz representing a critical chokepoint for international energy commerce. • President Trump is calling on U.S. allies to deploy warships to maintain the strait's openness, with 2,200 Marines and a quick reaction force being deployed aboard three Navy amphibious ships.

From fuel caps to four-day work weeks, the Middle East conflict has left the world’s top crude oil importing region desperate to shore up suppliesDonald Trump has scrambled in recent days to reassure the world that the economic impact of his war on Iran can be contained.Sure, one of the most important waterways in global trade has, in effect, been shut for almost two weeks – but it might reopen before long. In the meantime, US oil-related sanctions on “some countries” will be lifted. And besides, the entire conflict could be over soon. Continue reading...