Business

Iran’s targeting of Middle East energy has driven oil prices back above the $100 a barrel level again, with market experts expressing increased alarm over the prospects for long term damage to the industry. Brent crude costs briefly hit $101 overnight after it emerged that key infrastructure in Gulf nations had been damaged or destroyed…

A record release of strategic oil reserves has been agreed in a bid to help offset supply disruption since the Middle East conflict began. The International Energy Agency (IEA) said it would coordinate a flow of 400 million barrels into the market, with the UK government contributing 13.5 million barrels. The body has barrels at…

The International Energy Agency (IEA), the developed nation body founded in the 1970s to deal with oil crises precisely like the one we’re now facing, has announced something extraordinary. Its members, which is to say most of the world’s rich nations, will release an unprecedented amount of oil from their national stockpiles into the global…

A Sainsbury’s store manager has won £12,000 after an International Men’s Day social media post left him feeling “humiliated and violated”. Darren Cooper was on leave for anxiety when his regional director put up a post celebrating male leaders who “all show up for work each day, put on a name badge and provide support,…

Iran’s move to shut the Strait of Hormuz has brought shipping through the 24-mile stretch of water close to a standstill. Only a handful of vessels have transited in recent days, many switching off their tracking systems or linked to “shadow fleets”. “They can’t physically close a waterway of that size, but the threat is…

The number of billionaires has surged to a record-breaking 3,428, with Elon Musk retaining the title of the world’s richest person, according to Forbes. The magazine’s latest rankings, dominated by the tech sector, placed the Tesla and SpaceX boss in the top spot with a net worth of $839bn (£623bn), followed by Google co-founders Larry…

Oil prices have fallen and stock markets are set to claw back some lost ground after Donald Trump raised hopes that Iran war disruption to the global economy would soon be over. Brent crude oil, the international benchmark, tumbled below $90 a barrel at one stage early on Tuesday after climbing above $118 – a…

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What’s it really like to be a… personal trainer? Luke Worthington, who specialises in physical preparation for TV and film work, answers the Money blog’s questions. You can earn six figures… At entry level, earnings sit around £25,000-£35,000, particularly in commercial gyms. Early on, the hours can be unsociable, you’re working when other people are…

The conflict in Iran is inflicting misery on millions – driving up bills and upending energy markets. But a perverse effect of war is that some industries do well: that’s the way our global financial system works. In this case, a group of American energy companies stand to benefit. “US liquefied natural gas (LNG) exporters…