The Iran war has rattled global energy markets, but analysts say Europe can avoid a full-blown 2022-style supply crisis.

With oil prices soaring and stock markets falling, economists warn that a prolonged conflict in the Middle East risks knocking growth worldwide and boosting prices

Oil prices exceeded $100 per barrel on Monday, reaching peaks unseen since 2022, as the Iran war triggered a global energy crisis.

The conflict is driving up energy prices; threatening food shortages in poor countries; and complicating options for the inflation fighters at central banks.

Prospect of Trump easing US sanctions on Russian oil is a nightmare for the bloc as nations work out how to respond

Exclusive: Oil at $100 a barrel means higher prices in the EU and UK, making savings for those with electric vehicles even greater, analysts say

The Iran war has rattled global energy markets, but analysts say Europe can avoid a full-blown 2022-style supply crisis.

Oil prices moderated somewhat after the U.S. issued a 30-day license for countries to buy sanctioned Russian oil and petroleum products that were stranded at sea.

Energy prices may jump to all-time highs soon as the Iran war escalates without a ceasefire or a clear victory.