Iran-Israel Conflict Affects Oil Prices and Inflation; UN Cites Energy Risks

Israel, and Iran has escalated global energy disruptions, with UN Secretary General stating it has caused the worst energy crisis in decades. International Energy Agency Executive Director Fatih Birol described the conflict as the greatest energy security threat in history during an April 13 event hosted by the Atlantic Council.

Birol stated that oil prices are reflecting the impacts of the Iran-Israel conflict, based on current assessments.

Iran’s outdated air force adopted offensive tactics during the conflict, focusing on low-flying survivability and sneak attacks, according to Iran military expert Farzin Nadimi. Sen. ), ranking member on the Senate Armed Services Committee, said there are no timeouts when it comes to the 60-day War Powers Act deadline.

Reed added that the language of the War Powers Act statutes does not provide for timeouts like in a football game and runs 60 days from the day operations begin. Geopolitical analyst Peter Zeihan noted the Iran-Israel conflict is reaching a critical juncture this week. Rep.

U.S. is not good at having off ramps in Middle East conflicts. S. should be considering a broader question of strategy in the war with Iran. Federal Reserve official Neel Kashkari said the Iran war limits the central bank’s ability to provide rate guidance.

Kashkari added that the Fed may even have to raise rates given the risks and uncertainty around the Iran war. S. gross domestic product accelerated to an annual rate of 2% in the first three months of 2026.

S. 5%. 8% of the workforce, since October 2024, according to the Bureau of Labor Statistics.

7 points. 7 points is the highest since August 2022. 6 in April.

6 is the highest since May 2022. 6 points over the last 3 months.

4 in April. 4 is the lowest since January. The employment index has marked the 15th consecutive monthly contraction. 37% in April.

37% in April is the highest rate in six months. State pensioners could reduce their energy bills by £150 through a scheme linked to Pension Credit. Applications for the Pension Credit-linked scheme take an average of 16 minutes to complete.

The Warm Home Discount Scheme will reopen in October 2026. The Warm Home Discount Scheme provides eligible households with a one-off £150 discount applied directly to electricity bills. To qualify for the Warm Home Discount Scheme, pensioners must be receiving Pension Credit from the Department for Work and Pensions.

The discount from the Warm Home Discount Scheme is typically credited to bills by March 31 of the following year. 8 per cent increase introduced on April 6. Under the 2026/27 rates, single pensioners can have their weekly income topped up to £238 through Pension Credit.

Most new Pension Credit claims are submitted either online or by telephone.