Number of young people with no close friends has soared since 2014 in England

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Financial Intelligence • Markets • World News • Independent Analysis
Published: 2026-09-08 • Permanent link

Rising tensions in the Middle East have sent shockwaves through the global energy market, with oil prices surging towards $100 a barrel. The devastating attack on Saudi oil facilities by Yemen's Iran-aligned Houthis has disrupted production and supply chains, leading to a sharp increase in prices. According to data from the International Energy Agency, global oil prices rose by 10% in the past week alone, with Brent crude oil prices reaching a 10-year high. Major energy companies, including ExxonMobil and Chevron, have issued statements expressing concerns about the impact of the attack on global energy security.

As the price of oil continues to rise, consumers are bracing themselves for higher fuel costs, which could have a ripple effect on the broader economy. The UK's Office for Budget Responsibility has warned that a 10% increase in fuel prices could lead to a £1.5 billion increase in household energy costs, which could be passed on to consumers through higher prices for goods and services. With the UK's economy already facing pressure from Brexit uncertainty and a slowing housing market, the impact of rising oil prices could be severe.

Historically, the global energy market has shown resilience in the face of supply disruptions, but the scale and complexity of the attack on Saudi oil facilities suggests that this could be a game-changer. Energy analysts have pointed to the 1970s, when the 1973 oil embargo led to a sharp increase in oil prices and a global economic downturn. However, the current market is more interconnected and complex, with a greater reliance on digital technologies and global supply chains.

The impact of the attack on Saudi oil facilities is likely to be felt for months to come, with energy companies scrambling to adjust to the new reality. As the global energy market continues to grapple with the consequences of the attack, investors will be watching closely for signs of supply chain resilience and the ability of energy companies to adapt to changing market conditions. With the International Monetary Fund predicting a slowdown in global economic growth, the stakes are high for energy companies and policymakers alike.