Rachel Reeves

Fears grow that continued blockade of Strait of Hormuz could push energy and food price inflation even higher during the second half of the year

Energy Security and Net Zero Secretary reportedly set to confirm plans to accelerate Warm Homes Plan and electricity market reforms in response to global energy shock

Government confirms plans to remove Carbon Price Support from April 2028 and reveals work is continuing to limit influence of gas in setting wholesale power prices

British Industrial Competitiveness Scheme to be expanded and backdated, as government ramps up efforts to protect businesses from soaring energy costs

Oil demand plummets and fears over jet fuel supplies grow, as governments look to ramp up clean tech deployment in response to worsening energy crisis

President declares US will blockade Strait of Hormuz after ceasefire talks break up without agreement

Oil price rises sharply to over $116 a barrel on back of latest threats of military action from President Trump, as Tories launch new pro-drilling campaign

Rachel Reeves signals targeted support planned to help households cope with expected increase in energy bills, as she announces further reforms to help fast track nuclear and renewables projects

Agency confirms 10 million barrel per day drop in production from Gulf States and loss of shipping through Strait of Hormuz is resulting in unprecedented disruption

Oil prices jump above $100 a barrel in early trading, as Iran continues to ramp up attacks on shipping and fossil fuel infrastructure across the Gulf