The Iran war is deepening the US energy crisis. A bad winter is ahead | Mark Wolfe
Congress must act to ensure that families are able to heat their homes before the start of the season Heating oil may be the clearest warning yet of how the war in Iran is deepening the US’s energy affordability crisis. Families who heat their homes with oil are facing bills that could be 50% higher this winter, adding nearly $900 to the cost of keeping their homes warm. These families were already struggling before the war began.
As the Guardian recently reported, research by my organization found that electricity shutoffs in 10 states had increased 28% over the past two years. Millions of Americans were already falling behind on their utility bills, forced to choose between paying for energy, food, medicine and rent. Now they face another round of increases in gasoline, electricity and home heating costs.
Read in depth: Business
Volkswagen reports €5.8 billion third-quarter loss as Porsche charge and China slump weigh
The German carmaker's July-to-September loss widened sharply from a year earlier, with a large Porsche writedown and falling deliveries in China adding to pressure on its results.
World Bank forecasts 23% commodity price rise as energy and shipping shocks mount
The bank projects higher energy, metals and food prices in 2026, with further risks from conflict, disrupted grain shipments and El Niño.
Sources and context
The GuardianSource headline and summary supplied via NewsData.io. First collected by NewsJaws on 2026-10-31. This is an automated news brief, not original NewsJaws reporting. Dates reflect the source publication. Feed delays may apply.
More from Business
High street ‘slot farms’ could evade budget tax rise through bingo hall loophole
Binance says 90% of losses from $6.3bn hack covered as FBI says North Korea behind attack
