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Gas giants warn against windfall gains tax as Pocock says ‘wartime profits’ should go to struggling Australians

Government faces political fight as industry says mooted 25% levy on exports would hurt Australia’s economy and energy securityGet our breaking news email, free app or daily news podcastGas giants will lobby against any federal government moves to introduce a 25% export levy on windfall profits, a...

20/03/2026 04:18 The Guardian
Israel denies ‘dragging’ US into war – as it happened

This blog is now closed – our coverage of the Middle East crisis continues hereTurning to Australia now, a petrol tsar will manage “unprecedented” supply issues caused by the Middle East conflict as the finishing touches are put on measures to address dire shortages in many regional areas.Prim...

20/03/2026 02:26 The Guardian
China has been preparing for a global energy crisis for years. It is paying off now

As other Asian economies race to conserve energy, China has huge reserves of oil and gas as well as alternative energy sources like wind and solarMiddle East crisis – live updatesXi Jinping has been preparing for a crisis like this for years. China must secure its energy supply “in its own hands...

20/03/2026 01:14 The Guardian
Trump mocks Japan about Pearl Harbor in response to question about Iran war

US president was meeting with Japanese PM when he said: ‘Who knows better about surprise than Japan?’Middle East crisis – live updatesSign up for the Breaking News US email to get newsletter alerts in your inboxIt would be funny if it wasn’t so Trumpy.Hosting the Japanese prime minister, San...

20/03/2026 00:45 The Guardian
Iran says it will show ‘zero restraint’ if energy infrastructure is targeted again

Foreign minister issues warning after Israeli attack on South Pars gasfield and 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”...

19/03/2026 22:02 The Guardian
Bank of England tipped to raise UK interest rates twice this year to fight inflation shock from Middle East crisis, as oil and gas prices rise – as it happened

UK central bank has left rates on hold, and warned that CPI inflation will be higher in the near term as a result of the ‘new shock to the economy’ from Iran warBank of England holds interest rates at 3.75% and signals rise is possible within monthsWhy are mortgage rates going up when the Bank o...

19/03/2026 16:44 The Guardian
Oman claims Israel pushed US into Iran war when deal was possible

Foreign minister claims Israel convinced Donald Trump to make ‘grave miscalculation’ of waging war on IranMiddle East crisis – live updatesOman’s foreign minister has claimed the US has “lost control of its own foreign policy” and accused Israel of persuading Donald Trump’s administrat...

19/03/2026 15:50 The Guardian
West Point analysis warns that strait of Hormuz blockade will strangle US defense industry

Report shows how minerals critical to defense readiness have seen a ‘near total’ disruption in seaborne tradeMiddle East crisis – live updatesSign up for the Breaking News US email to get newsletter alerts in your inboxThe closure of the strait of Hormuz is causing a “paralyzing, real-time p...

19/03/2026 11:00 The Guardian
Oil and gas prices jump after Iran and Israel attack gasfields

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...

19/03/2026 09:23 The Guardian
The Iran War’s Economic Threat to Europe and Asia

Inflation and its consequences for growth are a growing concern for countries where memories of the 2022 energy crisis are fresh....

19/03/2026 06:06 New York Times
Trump threatens to ‘blow up’ all of Iran’s South Pars gasfield if Tehran strikes Qatar

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...

19/03/2026 05:53 The Guardian
Reader callout: are you feeling the petrol pinch in Australia, and how is it affecting you?

Have you cancelled a holiday? Are you working from home more or taking fewer journeys? Tell us your experienceGlobal oil market prices have surged, with the US-Israel war on Iran disrupting key shipping routes. The strait of Hormuz, where as much as a fifth of global fuel supply travels through, has...

19/03/2026 02:11 The Guardian
Israel strikes Iran’s South Pars gasfield hours after forces kill intelligence minister

Death confirmed of Esmail Khatib, the third senior Iranian figure killed in 24 hours, as Israel also launches intense airstrikes on LebanonMiddle East crisis – live updatesExplainer: why attacks on gasfields are a major escalationIsrael struck Iran’s giant South Pars gasfield on Wednesday, marki...

18/03/2026 19:25 The Guardian
Canada in push for joint G7 and Middle East effort to de-escalate Iran war

Foreign minister Anita Anand says she has drafted principles to reduce risk of regional spillover and wider shocksMiddle East crisis – live updatesCanada is pushing for a collective G7 and Middle East approach to de-escalating the Iran war, including off ramps that could bring an end to the confli...

18/03/2026 18:38 The Guardian
Starmer says Tory shadow minister should be sacked for criticism of Muslims praying in Trafalgar Square – as it happened

Nick Timothy said an event attended by the mayor of London that included prayers was an ‘act of domination’Polanski says the government should be doing more to improve home insulation, and on the drive towards renewable energy.And he says the government should commit to ensuring energy bills do...

18/03/2026 16:31 The Guardian
Iran threatens Gulf energy facilities after Israeli attack on its largest gasfield

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 la...

18/03/2026 16:22 The Guardian
Fuel rations and no air con: south-east Asian nations race to conserve energy

Governments in countries heavily reliant on Middle Eastern oil introduce measures to shield public from soaring costsMiddle East crisis – live updatesIn Thailand, news anchors ditched their jackets on air as the government called on the public to reduce their use of air conditioning to save energy...

18/03/2026 09:28 The Guardian
As Iran War Drags On, Europe Wants to Avoid a New Migration Crisis

A decade ago, a surge in migration to Europe spurred the far-right’s rise. European leaders now fear the Iran war could set off another crisis, and they have taken tentative steps to prepare....

18/03/2026 09:01 New York Times
‘A bigger scar’: prolonged war in Middle East could slash $16.5bn from Australian economy, Chalmers warns

Treasurer likens impact of conflict to recent major shocks, including global financial crisis and Covid pandemicFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastInflation could peak at 5% this year and petrol price hikes continue to slu...

18/03/2026 07:16 The Guardian
PM calls national cabinet meeting over fuel crisis – as it happened

Follow today’s news live‘A bigger scar’: prolonged war in Middle East could slash $16.5bn from Australian economy, Chalmers warnsGet our breaking news email, free app or daily news podcastARN confirms Kyle Sandilands contract terminatedARN just issued a statement confirming Kyle Sandilands’...

18/03/2026 07:13 The Guardian
Iran’s national security council confirms death of its chief, Ali Larijani

Larijani was killed by an Israeli airstrike and is the most senior Iranian fatality since Ali Khamenei on first day of warMiddle East crisis – live updatesIran’s supreme national security council has confirmed the death of its chief, Ali Larijani, after Israel said it had killed him in an airstr...

17/03/2026 21:35 The Guardian
Middle East crisis live: Trump bashes Nato allies over strait of Hormuz as Iranian official warns waterway ‘won’t return to its pre-war status’

President says ‘we don’t need any help’ after several allies ruled out sending warships to key fossil fuels shipping channelFull report: Iran’s security chief, Ali Larijani, killed in airstrike, Israel saysHow have you been affected by the latest Middle East events?Are fuel price increases m...

17/03/2026 21:01 The Guardian
Death of influential Ali Larijani could be bigger loss to Iran than Khamenei

Security chief’s huge influence on many levels of Iranian politics and abroad will make his killing devastatingMiddle East crisis – live updatesIsrael’s assassination of Ali Larijani, the secretary of Iran’s supreme national security council and one of the linchpins of Iranian politics, will...

17/03/2026 15:06 The Guardian
UK security adviser attended US-Iran talks and judged deal was within reach

Exclusive: Jonathan Powell thought Tehran’s ‘surprising’ offer on its nuclear programme could prevent rush to war, sources sayMiddle East crisis – live updatesBritain’s national security adviser, Jonathan Powell, attended the final talks between the US and Iran and judged that the offer ma...

17/03/2026 13:20 The Guardian
How Pakistan’s people-led solar boom is easing impact of Middle East energy crisis

Falling costs and government incentives make solar an attractive option for many, reducing need for gasAfter prices of liquefied natural gas surged to record highs after Russia’s full-scale invasion of Ukraine in 2022, millions of people in Pakistan were repeatedly left without electricity. An int...

17/03/2026 13:00 The Guardian
First Thing: Israel says Iran’s security chief Ali Larijani killed in airstrike

It would make Larijani the most senior Iranian figure to be killed in the war since Ali Khamenei. Plus, Oakland homicides down 48% from Covid peakDon’t already get First Thing in your inbox? Sign up hereGood morning.Israel says it killed Iran’s national security chief, Ali Larijani, in overnight...

17/03/2026 11:32 The Guardian
As War With Iran Hurts Oil Prices, U.S. Turns to Iranian Boats for Help

Iranian-linked ships carrying Russian oil were among those that received temporary exemptions from sanctions, a sign of how dire the energy crisis is becoming....

17/03/2026 04:00 New York Times
Trump asks China if visit to Beijing can be delayed a month due to Iran war

US president had earlier hinted trip could be put on hold if President Xi does not help unblock the strait of HormuzMiddle East crisis – live updatesTrump has asked to delay his planned visit to Beijing by about a month due to the Iran war, after earlier hinting he might put the trip off if his pr...

16/03/2026 22:17 The Guardian
Middle East crisis live: European countries resist Trump’s demand for help to clear the strait of Hormuz

Iran war ‘not a matter for Nato’, says Germany’s Merz as European countries react cautiously to Trump’s calls for assistanceEuropean countries reject Trump’s call for help to reopen strait of HormuzHow have you been affected by the latest Middle East events?Are fuel price increases making...

16/03/2026 20:00 The Guardian
European countries reject Trump’s call for help to reopen strait of Hormuz

Leaders seek a diplomatic solution despite US president’s threat of ‘a very bad future’ for Nato unless it provides warshipsMiddle East crisis – live updatesEuropean countries have ruled out sending warships to the strait of Hormuz, despite threats from Donald Trump that Nato faces “a very...

16/03/2026 19:30 The Guardian
BREAKING NEWS
20/03 18:32 - 4 women killed in West Bank are first Palestinian deaths in Iran war 20/03 18:15 - Explosion hits Jerusalem’s Old City after Iran missile alert 20/03 18:15 - Explosion hits Jerusalem’s Old City after Iran missile alert 20/03 18:10 - Lowering speed limits among contingency plans to curb UK oil demand 20/03 18:04 - Canadian mother and daughter ‘traumatized’ by ICE detainment, husband says 20/03 18:03 - News24 | Ukraine-Russia peace talks resume after Middle East war pause, Zelenskyy pushes for timeline 20/03 17:59 - A Diary of War From an Unlikely Author: the Son of Iran’s President 20/03 17:44 - 'Polish populists have decided to turn anti-European': Warsaw mayor Rafal Trzaskowski 20/03 17:41 - Trump decries Nato allies as ‘cowards’ as strait of Hormuz impasse goes on 20/03 17:19 - Trump administration sues Harvard again over accusations of antisemitism 20/03 16:56 - Iran War Underscores the Diverging Aims of Trump and Netanyahu 20/03 16:37 - Myth of liberation: As war rages, trapped Iranians 'curse' the regime, the Americans & the Israelis 20/03 16:33 - 'No obvious short-term way out' of war, French top diplomat tells Israel 20/03 16:31 - Iran's Khamenei says enemy 'defeated' in Nowruz message 20/03 16:27 - 'Trump could be ready to stop the war at almost any moment,' ex-adviser John Bolton says 20/03 16:20 - Could Iran war trigger the next global food shock? 20/03 16:20 - Could Iran war trigger the next global food shock? 20/03 16:12 - Nato relocates personnel from Iraq mission to Europe amid conflict in Middle East – as it happened 20/03 15:58 - UK borrowing costs hit highest since 2008 as markets expect up to three interest rate rises 20/03 15:49 - AfD co-chair calls for end to funding ‘corrupt’ Ukraine 20/03 15:49 - ‘Cowards’: Trump slams NATO over lack of support in US–Israel war on Iran 20/03 15:49 - ‘Cowards’: Trump slams NATO over lack of support in US–Israel war on Iran 20/03 15:35 - What US-Israeli targets reveal about Iran war goals three weeks in 20/03 15:35 - What US-Israeli targets reveal about Iran war goals three weeks in 20/03 15:29 - Switzerland announces halt to weapons exports to US amid Iran war 20/03 15:29 - Switzerland announces halt to weapons exports to US amid Iran war 20/03 15:27 - Japan's PM walks tightrope in high-stakes Washington visit 20/03 15:20 - 'Not our war': Palestinians caught in the crossfire of Middle East war 20/03 15:12 - US easing ban on Iranian oil would signal ‘beginning of the end of war’ 20/03 15:12 - US easing ban on Iranian oil would signal ‘beginning of the end of war’ 20/03 15:04 - Deferring to Trump, G.O.P. Lawmakers Resist a Public Accounting on Iran 20/03 15:00 - ‘We need to think much bigger’: trade minister calls for greater ambition in UK-EU reset 20/03 14:52 - Iran warns UK letting US use bases is 'participation in aggression' 20/03 14:48 - Will Russian oil be the biggest winner in the US-Israel war on Iran? 20/03 14:48 - Will Russian oil be the biggest winner in the US-Israel war on Iran? 20/03 14:39 - News24 | ‘We’re boiling water for drinking’: Stranded Gulf seafarers ration food and water 20/03 14:35 - ‘Safe’ corridor opening up through Strait of Hormuz: What we know so far 20/03 14:30 - Zelenskyy says Ukraine wants timeline for next round of Russia talks 20/03 14:30 - Zelenskyy says Ukraine wants timeline for next round of Russia talks 20/03 14:27 - Fed Official Urges Caution on Rate Cuts as Iran War Drags On 20/03 14:18 - Eid al-Fitr celebrations begin under shadow of war 20/03 14:11 - Ready-to-wear autumn-winter 2026/27 collections: Is fashion still subversive? 20/03 14:09 - Watch: Netanyahu says idea Israel dragged US into Iran war 'fake news' 20/03 14:01 - France presenting 'nuanced position' as FM Barrot visits Israel 20/03 13:53 - Kim’s daughter ‘drives tank’ during North Korean war drills (VIDEO, PHOTOS) 20/03 13:45 - Ukraine adds Russian Paralympians to ‘kill list’ 20/03 13:45 - Who are the Gulf’s military allies, and how are they helping in Iran war? 20/03 13:45 - Who are the Gulf’s military allies, and how are they helping in Iran war? 20/03 13:35 - With its wind farms, Danish island of Samsø shows path forward during energy crisis 20/03 13:26 - Tenerife hit by snow as Storm Therese brings wind and rain to Canary Islands 20/03 13:22 - Typical energy bill forecast to rise by £332 a year in July 20/03 13:21 - EU eyes energy tax cuts to counter impact of Iran war 20/03 13:15 - Spain Says the Sun Shields It From Rising Gas Costs. Is That True? 20/03 13:06 - House of Lords has ‘signed its own death warrant’ by stalling assisted dying bill, says MP 20/03 13:00 - The Week: The War In Iran Escalates 20/03 12:53 - French navy seizes oil tanker sailing from Russia accused of flying false flag in Mediterranean 20/03 12:50 - Household energy bills in Great Britain ‘could rise to almost £2,000 a year’ amid Iran war shock 20/03 12:50 - Father of killed US military member disputes Hegseth’s claim he said to ‘finish’ the job in Iran 20/03 12:29 - Sri Lanka refused ground access to US fighter jets – president 20/03 11:39 - UK letting US use its bases is ‘participation in aggression’, Iran’s foreign minister tells Yvette Cooper – UK politics live 20/03 11:33 - Hungary's Orbán accused of disloyalty and blackmail over Ukraine loan veto 20/03 11:27 - Trump aides tried to block appointment of Peter Mandelson as UK ambassador to US, reports say – US politics live 20/03 11:24 - Iran says it will show ‘zero restraint’ if energy infrastructure is targeted again | First Thing 20/03 11:21 - Refugee Council questions Australia’s Iran strategy at Women’s Asian Cup 20/03 11:21 - Refugee Council questions Australia’s Iran strategy at Women’s Asian Cup 20/03 11:20 - 'Online diplomacy': How Trump narrates war in Iran on Truth Social 20/03 11:16 - Iran to boycott US but not FIFA World Cup – football chief 20/03 11:14 - EU to push Ukraine loan ‘one way or the other’ – von der Leyen 20/03 11:13 - EU leaders vent anger after Hungary's Orban keeps blocking Ukraine loan 20/03 11:11 - Fire experts ‘kept awake’ over growing hazard of lithium-ion batteries 20/03 11:08 - Iran today, Africa tomorrow 20/03 11:08 - Iran today, Africa tomorrow 20/03 11:06 - Whose War? 20/03 11:03 - Trump compares US strikes on Iran to WWII Pearl Harbor attack 20/03 11:00 - ‘It’s not sustainable’: US farmers reeling as Iran war pushes fertilizer costs up 20/03 10:23 - In pictures: Muslims celebrate Eid al-Fitr across the world in shadow of Middle East war 20/03 10:18 - Hungary officials ‘gave Ukrainian forced injection’ after raid on bank vehicles 20/03 10:14 - French stock up on essentials as war triggers price fears 20/03 10:13 - Outrage among EU leaders as Hungary's Orban U-turns on Ukraine loan 20/03 10:11 - Muslims celebrate Eid al-Fitr around the world amid shadow of war 20/03 10:11 - Muslims celebrate Eid al-Fitr around the world amid shadow of war 20/03 10:09 - Netanyahu says Iran 'decimated,' Tehran claims only used ‘fraction’ of firepower 20/03 10:00 - Silicon Valley’s Big Bets on War Pay Off, and the Trump Family Business Looks to Transylvania 20/03 09:55 - Trump makes Pearl Harbor remark in meeting with Japan's PM 20/03 09:25 - Eid celebrations dimmed by war and displacement across Middle East 20/03 09:25 - Eid celebrations dimmed by war and displacement across Middle East 20/03 09:17 - Five problems the Iran war could solve for Israel’s Netanyahu 20/03 09:17 - Five problems the Iran war could solve for Israel’s Netanyahu 20/03 09:04 - UK set for temperature rollercoaster as chilly nights follow warm days 20/03 09:03 - What the ‘Project Hail Mary’ Directors Learned From a Firing 20/03 08:18 - Ukraine sends advisers to Gulf as it counterattacks Russian forces in south 20/03 08:18 - Ukraine sends advisers to Gulf as it counterattacks Russian forces in south 20/03 08:10 - 'There's a lot of ways that this could escalate and get worse': Iran war rattles energy markets 20/03 08:04 - Iran hits Kuwaiti oil refinery as Israel renews attacks on Tehran 20/03 08:04 - Iran hits Kuwaiti oil refinery as Israel renews attacks on Tehran 20/03 08:02 - Trump catches Japanese PM off guard with surprise Pearl Harbor remark (VIDEO) 20/03 07:55 - News24 | Netanyahu the ‘key winner’, Trump trapped in Iran war with no clear exit, say analysts 20/03 07:28 - Iran war: What is happening on day 21 of US-Israel attacks? 20/03 07:28 - Iran war: What is happening on day 21 of US-Israel attacks? 20/03 07:10 - Trump Says He Won’t Send Troops to Iran but Leaves Wiggle Room