Energy: Prices
Commons · Question 908493 · Tabled 18 Mar 2026 · Department for Energy Security and Net Zero · Official record
Answered 24 Mar 2026
Question
Asked by Blake Stephenson
To ask the Secretary of State for Energy Security and Net Zero, what assessment he has made of the potential impact of the conflict in Iran on energy prices.
Answer
Answered by Martin McCluskey, 24 Mar 2026
Attacks have targeted energy production and export infrastructure across the Gulf. Traffic in the Strait of Hormuz, through which around 20% of global oil and LNG is shipped, has declined very significantly. This is putting upward pressure on global price...