Business
Middle East war creating ‘largest supply disruption in the history of oil markets’
Posted on Thursday March 12, 2026
Vast release of emergency crude reserves fails to quell mounting fears about supply crunch, rattling marketsMiddle East crisis – live updatesOil markets are facing the “largest supply disruption in history” as the war in Iran continues to block tankers from producing and shipping millions of barrels of crude each day, the world energy watchdog has warned.The International Energy Agency (IEA) said the supply shock ignited by Iran’s effective blockade of the strait of Hormuz meant the world faced a deeper crisis than after the Yom Kippur war of 1973 and the 2022 outbreak of war in Ukraine. Continue reading...
Microsoft backs AI firm Anthropic in legal battle against Pentagon
Posted on Thursday March 12, 2026
Tech company filed amicus brief in support of Anthropic’s effort to overturn an aggressive Pentagon designationMicrosoft has thrown its weight behind Anthropic’s legal challenge against the Pentagon, filing a court brief in support of the AI company’s effort to overturn an aggressive designation that effectively bars it from government work.In an amicus brief submitted to a federal court in San Francisco this week, Microsoft, which integrates Anthropic’s AI tools into systems it provides to the US military, argued that a temporary restraining order was necessary to prevent serious disruption to suppliers whose products rely on the AI company’s technology. Google, Amazon, Apple and OpenAI have also signed on to a brief in support of Anthropic. Continue reading...
Watchdog puts UK fuel retailers ‘on notice’ over profiteering from Iran war
Posted on Thursday March 12, 2026
Competition and Markets Authority will closely monitor pump prices to stop profits being ramped up amid crisisThe UK competition watchdog has warned fuel retailers it is stepping up its monitoring of pump prices amid concern over profiteering as the US war with Iran drives up wholesale costs.The Competition and Markets Authority (CMA) said firms responsible for thousands of filling stations across the country had been “put on notice” amid a wider government crackdown to stop bosses ramping up profits at the expense of consumers. Continue reading...