EXPLAINER
Iran’s president sets terms to end the war: Is an off-ramp in sight?
Iran is asking for ‘reparations’ and a guarantee that the US and Israel will not attack in the future.
![A screen displays a portrait of Iran's new supreme leader Mojtaba Khamenei during the funerals of Iran's Revolutionary Guards Corps (IRGC) commanders, army commanders and others killed in the early days of the United States and Israeli strikes on Iran, at Enghelab Square in Tehran on March 11, 2026. [Atta Kenare/AFP]](/wp-content/uploads/2026/03/image-1773328325.jpg?resize=770%2C513&quality=80)
![A screenshot from a video crew on-board a nearby vessel at Oman’s Salalah port filmed the moment a drone struck the oil facility on March 11, 2026 [@Fahadnaimb/X]](/wp-content/uploads/2026/03/image-1773253703.jpg?resize=770%2C513&quality=80)
![Screenshot of video footage shows an oil storage facilities in Oman’s Salalah port ablaze after an apparent drone strike on March 11, 2026. [Antonette Marcial/Facebook]](/wp-content/uploads/2026/03/image-1773242140.jpg?resize=770%2C513&quality=80)
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IEA agrees record release of oil reserves to counter soaring energy prices
Proposed release is larger than the 182 million barrels of oil that IEA members released after Russia invaded Ukraine.
BY THE NUMBERS
Which countries have seen the highest petrol prices since the Iran war?
At least 95 countries have reported petrol price rises since the attacks on Iran by the US and Israel on February 28.
From: NewsFeed
4 day week, fewer car trips in Philippines as Iran fallout bites
Rising fuel prices are pushing more people to use public transport and prompting a four-day work week in Manila.
Published On 11 Mar 2026
The ‘orphan pearl’: Inside Kharg, the beating heart of Iran’s oil empire
On Iran’s ‘Forbidden Island’ of Kharg, ancient ruins sit beside the nerve centre of the nation’s oil empire.
Oil prices swing wildly amid mixed messages over Iran war
Crude oil prices fall sharply as energy markets remain on tenterhooks over effective closure of the Strait of Hormuz.
From: Inside Story
Is control of Iran’s natural resources a factor in US strategy?
Iran has vast oil as well as gas reserves and is a key supplier to China.
Published On 10 Mar 2026
IEA holds talks as member states mull releasing oil reserves amid Iran war
International Energy Agency chief says talks aimed to assess conditions as Iran war drives global uncertainty.
EXPLAINER
How will soaring oil prices caused by Iran war impact food costs?
Oil and gas are not just fuel. They are raw materials for thousands of products, including fertilisers used in farming.
Russia the only ‘winner’ of US-Israel war on Iran: EU Council president
Antonio Costa says Russia benefits from soaring global energy prices and attention being diverted from war in Ukraine.
Pakistan orders sweeping austerity measures as Iran war triggers oil crisis
Four-day workweek for government employees and two-week closure of schools among the measures aimed at saving energy.
