The Guardian covers new analysis from the International Monetary Fund (IMF), which warns that “all roads lead to higher prices and slower growth worldwide”, should the Iran war continue to impact the amount of oil, gas and fertiliser making its way out of the Gulf. The Press Association reports that the war’s impact is “both global and highly uneven”, with some countries likely to face a renewed cost-of-living crisis according to the IMF. The Daily Telegraph adds that the UK is “especially exposed” to higher oil and gas prices, according to the IMF. Relatedly, the Times reports that European companies have entered the latest energy crisis in greater financial distress than before Russia’s invasion of Ukraine.

The war in Iran has seen fuel costs rise sharply, reports BBC News. It covers the measures introduced by governments around the world to limit the impact on consumers and the economy, including in the UK, China, India, Australia and others. Similarly, the Daily Telegraph looks at how major nations are responding to the oil shock. Reuters reports that the G7 is ready to take “all necessary measures” to safeguard energy market stability, following a meeting of finance and energy ministers on Monday. A separate piece in Reuters looks at what G7 countries are already doing to cap energy prices. Euractiv covers warnings that the EU’s fragmented fuel price controls could hamper efforts to manage the Middle East energy crisis. Politico covers a European Commission letter that suggests Europeans should consider travelling less to avoid energy shortages. 

MORE ON ENERGY CRISIS 

• The Guardian covers how the Iran war and the subsequent surge in oil prices is impacting transport workers in the Philippines.
• The Associated Press reports on how “oil-thirsty Asian nations” are increasingly competing for Russian oil as the crisis mounts.
• Reuters reports that Japan and Indonesia have agreed to “step up” coordination on energy security in response to the US-Israeli war on Iran. 
• Reuters reports that India is accelerating clearances for wind power plants and battery energy storage systems as a response to the gas shortfall. 
• Reuters covers a proposal in South Korea to extend driving curbs to the general public if oil prices climb further. 
• Bloomberg looks at how the fuel-supply shock is hitting African nations, with shortages at petrol stations in Kenya, Ethiopia and Zambia.  

The price of oil jumped to nearly $117 (£89) a barrel on Monday, after US president Donald Trump threatened to “blow up” and “completely obliterate” Iranian electricity plants, oilwells and its export hub, Kharg Island, reports the Guardian. It adds that the president wrote on his social media platform Truth Social that if a deal was not agreed with Iran and the Strait of Hormuz is not reopened, the US would take further action. Reuters also covers his comments. The Times reports on the “fears” that oil could hit $150 a barrel if the Strait of Hormuz stays shut. 

MORE ON IRAN WAR

• The Guardian covers an Iranian attack on a fully loaded crude oil tanker anchored in Dubai port.
• Reuters reports that European and African oil markets are showing “signs of tightness” as Asia buys more to cope with the fallout of the conflict. 
• Semafor reports that Iran’s closure of the Strait of Hormuz is “driving a return to coal”.
• BBC News: “Zelensky says allies asked him to scale back attacks on Russian energy.”
• The Financial Times looks at how Asian nations are “turn[ing] to coal” as the Iran war “chokes off gas supplies”.

More drilling for oil and gas in the North Sea would not improve the UK’s energy security, former military leaders have warned, reports the Guardian. It continues that former military leaders have told the Guardian that the government should focus on a rapid transition to a mix of wind, solar, tidal and nuclear energy to ensure future energy security. The article also notes that new analysis has found that no fossil-fuel importer is safe from chokepoints in the global supply chain. Meanwhile, the Daily Express and Daily Mail cover comments by Conservative party leader Kemi Badenoch, who called for more North Sea oil and gas drilling in response to the crisis. [See Carbon Brief’s factcheck on North Sea claims.]

MORE ON UK

• The Guardian reports that families hardest hit by the energy crisis could receive funds from local councils in England. 
• In a frontpage story, the Times reports that the Treasury is making about £20m a day in extra revenue from levies and taxes linked to the price of oil and gas.
• The Independent covers a pledge by the Green party to fund £600m in renewable investment, through cuts to carbon capture funding. 
• The Independent covers the increasing pressure on chancellor Rachel Reeves to protect consumers from spiralling fuel prices.

Top Chinese solar panel manufacturers have raised prices ahead of the 1 April cancellation of China’s 9% export tax rebates for solar products, reports business news outlet Yicai. Citing “industry insiders”, the outlet says that the end of the rebate and “rising upstream raw material costs” will lead companies to hike prices by about 6 to 7 Chinese cents (around $0.01) per watt. Meanwhile, industry news outlet pv magazine reports that China’s solar cell prices fell for a third consecutive week as upstream costs “continued to ease”. The outlet adds that demand “remained bearish” ahead of the 1 April deadline. Energy news outlet BJX News says an increasing number of China’s state-backed companies are “pulling back” from the country’s solar industry amid “sustained losses” across the sector.

MORE ON CHINA

• An article bylined Ren Zhongping article, indicating the views of the editorial team at People’s Daily, says from “guiding principles to legal safeguards”, China “illuminated” the path of global green development.
• People’s Daily reports that China has conducted a new round of “central ecological and environmental protection inspections”.
• CCTV reports China’s first million-tonne-level carbon capture and storage project exceeded 1.3bn cubic metres of CO2 injection.
• Bloomberg reports China “has exported cargoes of diesel and other fuels to energy-starved countries across south-east Asia over the weekend”.
• Jiemian reports that Chinese EVs will not be excluded from purchase subsidies introduced in Germany’s new carbon reduction plan.

The state of Vermont has “faced off” with the justice department in a federal courtroom over the state’s landmark 2024 “climate superfund” law, reports the New York Times. It adds that the law requires fossil-fuel companies to pay for the costs of climate change. The article continues that in 2025, the Trump administration sued to block the law, arguing it was unconstitutional. The Associated Press says that Vermont was the first state to enact a climate superfund law. It adds that Vermont asked the judge to dismiss the lawsuit on Monday, arguing it had the authority to raise revenue, protect its citizens and mitigate environmental harms. Separately, health and environmental groups have sued over federal government rollbacks on mercury pollution from coal plants, reports Reuters.

The Associated Press reports that the death toll from severe weather that has hit Afghanistan in recent days has increased to 28, with 49 people injured. It continues that storms and heavy rainfall across several provinces have led to flooding, landslides and lightning strikes. It adds that 130 homes have been destroyed by the severe weather, as well as 436 homes damaged, 240 animals killed, 93km of roads “wiped out” and other infrastructure impacted. The article states: “Decades of conflict, coupled with poor infrastructure, a struggling economy, deforestation and the intensifying effects of climate change have amplified the impact of such disasters.”

In the Financial Times, contributing editor and author of the Chartbook newsletter Adam Tooze contrasts the US “destroying its own credibility” with the “opportunity” for China, which he says is “there for the taking”. Tooze writes: “Beijing should band together with a coalition of the willing to launch a comprehensive global green investment push, boosting demand for its green industries. Europe would find this hard to resist. But everyone, even the Saudis and the Emiratis, are interested in China’s clean electrotech. The sharp distinction between petrostates and electrostates exists mainly in the minds of fossil-fuel ideologues, not for those interested in cheap, clean power.” He concludes: “The script for Chinese leadership is more or less writing itself.”

MORE COMMENT

• Paul Marshall, the climate-sceptic GB News owner, has an error-strewn letter in the Guardian responding to Christian leaders’ criticism of his channel’s climate content. 
• Editorials from the climate-sceptic pages of the Daily Telegraph, the Sun, the Daily Mail and the Daily Express all criticise the UK government, taking swipes at what the Daily Telegraph calls the “green agenda” and the Sun calls a “net-zero dream”.
• An editorial in the Times argues that the UK’s debt “will not allow another round of mass energy bill subsidies”. 
• In the Sun, notorious climate-sceptic Ross Clark calls on the Labour government to “lift [the] fracking ban, approve North Sea oil and build coal-fired power stations”.
• Daily Telegraph associate editor Ben Marlow argues that the UK Labour government has “no plan for the worst energy shock of our lives”. 
• In the Guardian, two researchers write about how Australian apartment residents could be included in the “rooftop solar revolution”.

This edition of the Daily Briefing was written by Molly Lempriere, with contributions from Henry Zhang and Anika Patel. It was edited by Simon Evans.

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