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Iran’s response to a war that Trump thought would be over in weeks, if not days, has embarrassed and weakened America in the eyes of the rest of the world and the nature of the agreement, if one is reached, is likely to confirm that opinion.

Trump’s deal will show how pointless his war was

Oil might soon flow through the Strait of Hormuz, but the damage done by the US president’s war will linger for a very long time.

  • Stephen Bartholomeusz

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The trade war is a mess of Donald Trump’s own making.

Trump ‘doesn’t care’ but he is leading the world into a nightmare

Donald Trump and sharemarkets appear relaxed about the effects of the war in Iran, but the likelihood of significant global economic damage is increasing by the day.

  • Stephen Bartholomeusz
There’s no quick fix for the oil market following the upheavals from the war.

Supply shock: The Iran war will change the oil market forever

The latest International Energy Agency assessment of the oil market points to a continuing shortfall of oil supply, and higher prices, even if the war were to end next month.

  • Stephen Bartholomeusz
US President Donald Trump meets with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Dubai last year.

Trump is trying to break the OPEC oil cartel. The UAE has done exactly what he wanted

The United Arab Emirates’ decision to leave the Organisation of Petroleum Exporting Countries advances Donald Trump’s goal of weakening the powerful oil bloc.

  • Clinton Fernandes
Actor Larry Hagman played oil baron JR Ewing in Dallas.

Carlos the Jackal, JR from Dallas and a kidnapping: a short history of OPEC

In the past 66 years, OPEC has generated more colourful stories than just the price of oil.

  • Janine Perrett
Trump, with Vice President JD Vance, said he was not happy with the latest Iranian offer on ending the war.

Trump tells aides to prepare for lengthy Iran blockade

The president is set on continuing to put pressure on Iran’s ability to export oil by stopping any vessel heading to or from its ports, according to US media reports.

  • Arsalan Shahla and Eltaf Najafizada
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The UAE’s exit from OPEC is sudden, but not unexpected.

Emiratis’ exit from OPEC will boost the flow of oil after the war

UAE’s defection will reduce the oil cartel’s influence over the global energy market and help make up for the billion barrels of oil lost because of the closure of the Strait of Hormuz.

  • Stephen Bartholomeusz
Markets are down amid concerns over the Iran war - but it could be a lot more drastic.

Markets are down on Iran war, but the slump could be a lot worse

Investors’ relatively calm response to the attack on Iran will be short-lived if the hostilities drag on.

  • Stephen Bartholomeusz

The narrow strip of water off Iran affecting petrol prices

About a fifth of the world’s oil and LNG passes through the Strait of Hormuz every day. What happens when a war breaks out across it – and how does it affect petrol prices?

  • Angus Holland, Jackson Graham and Madeleine Heffernan
The Strait of Hormuz is the critical choke point in the global oil industry, with about 20 per cent of the world’s oil and roughly a third of its LNG passing through it each day.

Dire straits: The oil industry is facing its worst nightmare

The US-Israeli assault on Iran has brought into sharp focus a critical choke point for global shipping.

  • Stephen Bartholomeusz