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Despite rare act of multilateralism, there is no guarantee the IEA’s release of 400m barrels from reserves will depress pricesIEA poised to call for largest ever release of stockpiled oil to reduce priceHow the Iran conflict could affect energy prices – video explainerWhen the global economy was still in the grip of the devastating 1970s oil crises, exposing the chokehold exerted by a few important oil states, the International Energy Agency (IEA) was created, in the hope of limiting future shocks.Almost half a century on, the IEA’s 32 members have drawn up plans to hit the emergency button, for only

Shawn Harris to face Clay Fuller in special election to replace Marjorie Taylor Greene in CongressDonald Trump’s nominee for a top diplomatic post has been withdrawn from consideration after a growing backlash over his past remarks on race and Jewish people left him without crucial Republican support.Jeremy Carl, who had been tapped to serve as the assistant secretary of state for international organisations – a role overseeing US policy towards bodies such as the UN – announced on Tuesday that he was stepping aside after failing to secure unanimous backing from Republicans on the Senate foreign relations committee. Continue reading...

Hundreds of papers relating to his appointment as ambassador to the US to be put into public domain todayIn other news, hereditary peerages will be abolished before the next king’s speech after a deal was struck granting life peerages to some Conservatives and cross-benchers losing their seats.The upper chamber accepted a final draft of the House of Lords (hereditary peers) bill yesterday, marking the end of its passage through parliament and clearing the way for it to be added to the statute book. Continue reading... Source link : https://www.theguardian.com/politics/live/2026/mar/11/peter-mandelson-documents-keir-starmer-pmqs-iran-latest-news-updates Author : Taz Ali(now) and Vicky Graham (earlier) Publish date :