Oil price falls and markets rally after Trump says Iran war over in ‘two to three weeks’ US president’s claim that conflict is nearing end prompts 15% drop in Brent crude and stock market climb in Asia
Iran war may increase mortgage payments for extra 1.3m households, says Bank of England Financial policy committee predicts ‘Trumpflation’ rises, as average two-year fixed rate hits 5.84%
US average fuel price passes $4 a gallon for first time in four years amid Iran war Stocks rally after reports suggest Trump might end the war soon, saying ‘we’re not going to be there for too much longer’
Who are the Houthis – explained in 30 seconds Yemeni militant group is ally of Iran and has previously caused huge disruption to global trade through attacks on Red Sea shipping
Australian growth forecasts slashed as global economy faces inflation spike OECD says the Middle East war will test the world’s resilience with Australia expected to suffer from higher rates and inflation
Trump’s war in Iran exposes US’s shift from a global guardian to an arbiter of chaos The US is recklessly spreading economic havoc among global friends and foes while suffering little harm itself
We’re letting big corporations gamble with our lives. Act now, or the food could run out The fragility of the global food system fills me with dread – and the war with Iran has exposed just how close to collapse it is, says Guardian columnist George Monbiot
Stock markets swing and oil prices fall after Trump postpones strikes on Iran power plants European shares start to rise after US president says talks have been ‘very good and productive’
Energy shock talk grabs headlines but the Iran war is also driving the world towards a food crisis Growers face soaring fertiliser and fuel costs as shipping choke point of the strait of Hormuz hits supply chains
‘The stakes are enormous’: how a prolonged Iran war could shock the global economy Donald Trump’s ‘little excursion’ is likely to have long-term effects, from oil prices to inflation to growth, say experts
‘Huge build-up of risk’: London’s centuries-old shipping industry wrestles with Iran war Insurers at Lloyd’s of London say cover is available at a price, while merchants view the danger level as too high
‘Doomsday scenario’: a visual guide to the oil and gas site attacks in the Middle East Attacks on facilities by both sides in the conflict this week threaten grave consequences for the global economy
Prolonged high oil prices could ‘crimp’ AI boom, WTO warns Iran war and its impact on energy and fertiliser costs is the main risk to the global economy, report says
IEA to consider release of more oil reserves as Iran war keeps prices high Head of world’s energy watchdog says it will take time for markets to recover from ongoing crisis in strait of Hormuz
Africa particularly vulnerable as Iran conflict disrupts supply chains, say experts Food production in many African countries depends heavily on fertiliser imported from the Gulf through the strait of Hormuz