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The Latest Breaking News from Middle East

Big four banks predict three consecutive RBA rate hikes

The Middle East conflict could prompt the Aussie dollar to plummet and the Reserve Bank to hike interest rates to 15-year highs in 2026, analysts say.

AAP

War creating 'largest' oil shock in history as Iran hits new Gulf targets

The Middle East war is creating the biggest oil supply shock in history, the International Energy Agency warned Thursday, as Iran launched a new wave of attacks against Gulf energy targets that sent prices spiking above $100 a barrel.

Radio France Internationale

Iran war hits tourism across Middle East: How much could the region be losing?

The war in Iran is now inflicting heavy economic damage across the wider Middle East, with the region’s tourism and travel industry losing an estimated $600 million a day as airspace closures and security fears disrupt international travel.

The Times of India

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Aussie shares tumble as oil spikes after tankers struck

Oil prices have surged as the Middle East conflict escalates, overshadowing a plan to release millions of barrels of crude reserves to shore up supply.

AAP

Starmer pledges that home heating oil costs must be ‘fair’ amid Middle East crisis

IN FULL

The Independent UK

Israel's Hidden Agenda: Secretly Wanting USA to Lose This War, YouTuber Claims

A new geopolitical analysis claims Israel secretly wants the United States to lose a prolonged Middle East ground war, aiming to become the region's sole superpower.

International Business Times UK

Starmer ‘will not tolerate’ energy companies exploiting Middle East crisis for profit

Global oil prices have risen sharply in response to the conflict

The Independent UK

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Second government charter flight from the Middle East lands in Dublin

Almost 200 Irish citizens were on the flight from Abu Dhabi.

Evening Standard

After Iran war panic, U.S. scales back Middle East evacuations as demand drops

The State Department says it has completed more than three dozen charter flights to evacuate Americans.

Axios

Morning Mail: strikes on ships raise stakes in Middle East, royal commission shock, art’s forgotten ‘genius’

Iran hits shipping in the strait of Hormuz prompting massive release of oil reserves; Dennis Richardson quits inquiry after two weeks

The Guardian - AU

These are shaky times for oil markets. An expert explains what a prolonged war will mean for prices

The US-Israel strikes on Iran have launched one of the most dramatic conflicts in the Middle East in living memory. Aside from military targets, Iranian forces have attacked commercial shipping and infrastructure in the region. The objective is simple: to disrupt oil exports and weaken its opponents’ economies.

The Conversation

EU Bets on Nuclear Tech to Shield Consumers From Energy Prices Amid Middle East Crisis

The EU is accelerating small modular reactor development to boost energy security and manage prices as global tensions and economic rivalries reshape Europe's energy future.

International Business Times UK

‘Stunned, sidelined and disunited’: how war in the Middle East paralysed the EU

Amid fears the conflict will strengthen Russia, Ursula von der Leyen’s embrace of US-backed regime change already looks like a doomed strategy

The Guardian - UK

Chaos in mortgage market as Middle East conflict causes rates to soar

IN FULL

The Independent UK

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The Guardian - UK

Average UK mortgage rate tops 5% as lenders scurry to reprice loans amid Middle East crisis

More than 500 lending products pulled in biggest single upheaval since Liz Truss’s mini-budget in 2022

International Business Times

Middle East War Pushes LPG And Energy Prices Higher, Challenging Consumers And Businesses

Industry data shows U.S. propane prices rose roughly 9–10% in early March 2026, reaching their highest levels in months as traders adjusted to the potential for reduced Middle Eastern volume.

Evening Standard

Oil wars: West releases record 400 million barrels as Iran hits cargo ships in Strait of Hormuz

Meanwhile Tehran threatens to target banks and financial centres in Middle East as Chancellor Rachel Reeves issues warning on inflation and interest rates

The Independent UK

Rachel Reeves admits Middle East conflict ‘certainly not good’ for economy

The Chancellor indicated the government could intervene on energy costs if the conflict spiralled

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Barchart

S&P Futures Waver as Middle East Conflict Uncertainty Persists, U.S. Inflation Data in Focus

March S&P 500 E-Mini futures (ESH26) are trending down -0.09% this morning, swinging between gains and losses as uncertainty surrounding the Middle East conflict remains high, while investors await key U.S. inflation data.

Evening Standard

MP warns of ‘blatant profiteering’ among home heating oil suppliers

Sudden volatility in the global oil trade due to Middle East disruption has caused prices to immediately soar.

The Times of India

Why Japan keeps the world’s third-largest strategic Oil reserve

As global energy markets face unexpected imbalance due to the Middle East rising tensions, Japan prepares to release oil to maintain surging costs. Holding the third-largest strategic reserve globally, as stated by the International Energy Agency (IEA), Japan's massive 254-day buffer serves as a critical shield against supply shocks. While…

The Guardian - UK

‘If I go home, we don’t have enough money’: the low-paid Filipino workers caught up in the war on Iran

Filipino carer Mary Ann De Vera was the first victim of the war in Israel, while thousands of others remain in vulnerable positions across the Middle East

AAP

ASX edges higher on hopes of record oil reserve release

Volatile oil prices continue to dictate stock market sentiment with the local bourse trading higher on hopes tapping reserves could shore up crude supply.

Bangkok Post

Asia airlines hike fares

Airlines in Asia are raising ticket prices and mapping out contingency plans that include grounding planes as the escalating Middle East conflict threatens to trigger the worst oil shock since the 1970s.

Bangkok Post

Govt officials ordered to work from home, suspend overseas trips

Caretaker Prime Minister Anutin Charnvirakul has ordered officials at government organisations and state enterprises to work from home and suspend overseas trips, as part of measures to cope with the Middle East war

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