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Oil price rises above $95 mark as Middle East conflict escalates
Category
Business
Published
Wednesday, July 22, 2026 at 1:37 PM
Publisher
The Guardian Business
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The Guardian Business 9 hours ago

Oil price rises above $95 mark as Middle East conflict escalates

Quick Summary

Global supply disrupted by US-Iran aggression in strait of Hormuz and Houthi threats in Bab el-Mandeb Middle East crisis live – latest updates Business live – latest updates The price of oil has breached the $95 a barrel mark for the first time in six weeks as the escalating Middle East conflict threatens further disruption to global supplies. The benchmark oil price rose sharply on Wednesday as renewed US-Iran aggression over the strait of Hormuz was compounded by Houthi threats to target vessels carrying Saudi oil through the Bab el-Mandeb strait. Continue reading...

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Food price fears after Europe’s heatwave destroys estimated €2bn of crops
Food price fears after Europe’s heatwave destroys estimated €2bn of crops

Record June temperatures expected to cut grain harvest by 9m tonnes to its lowest level since 2018 The heatwave that swept across Europe in June is estimated to have cost the continent’s grain farmers €2bn (£1.7bn) in lost revenue and destroyed 9m tonnes of crops, sparking concern about the impact on the price of food. Coceral, the European cereals and oilseeds trade association, made the estimate for the harvest of crops such as wheat, barley, maize and oats following the heatwave. Continue reading...

The Guardian Business 8 hours ago
Harry Potter publisher to receive millions in Anthropic copyright settlement
Harry Potter publisher to receive millions in Anthropic copyright settlement

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The Guardian Business 9 hours ago
Former Southern Water employees to face trial over alleged cover-up in wastewater testing
Former Southern Water employees to face trial over alleged cover-up in wastewater testing

Ex-chief executive Matthew Wright among those named in criminal proceedings by Environment Agency Britain’s ⁠Environment Agency (EA) is ⁠bringing ​a fraud case against ⁠four former Southern Water employees, including ⁠the former chief executive ​Matthew ‌Wright, over ‌allegations they manipulated wastewater ‌testing results. The regulator said the four had allegedly conspired ‌to defraud the Environment Agency and ​water regulator Ofwat between 2012 and 2017 by ⁠creating artificial “no-flow” ​events ​at wastewater treatment ​works to ​influence ‌compliance checks. Continue reading...

The Guardian Business 9 hours ago

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