Britain has authorised Washington to use RAF Fairford and Diego Garcia for launching US bombers targeting Iranian missile sites impacting the Strait of Hormuz, a decision connected to recent energy market developments.
As the military escalation unfolds, the International Energy Agency warns that the conflict has triggered the largest oil supply shock in history, urging governments to slash demand through remote work, car-sharing, and reduced air travel.
Meanwhile, UK households face a looming £332 energy bill hike by July, with petrol prices already biting. Iran has threatened reprisals against Britain for backing US-Israeli strikes, raising fears of direct confrontation.
Compounding these pressures, oil prices surged to nearly $118 per barrel after Tehran vowed “full-scale economic war” and crippled Qatar’s LNG facility, which could take up to five years to repair — a blow that risks locking the world into a prolonged energy crunch.
