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Attack at electricity and desalination facility marks latest escalation in Gulf war launched by US and Israel

The Islamic republic aims to set up a toll booth on the Strait of Hormuz. It may succeed

Fewer contracts increased volatility and made it possible for a single trader to dominate the market

As investors seek to retrieve their money, the $22tn industry rejects comparisons with 2008. Regulators aren’t so sure

The creation and dissemination of reliable news is at an economic disadvantage

Traders weigh signs of escalating conflict as more US troops arrive in region and Yemen enters war

US president tells the FT he is considering seizing strategic Kharg Island even as negotiations continue

Investors anticipate money-making bonanza as sector comes under strain

Top Iranian war leader accuses US of using diplomatic efforts as cover for ground operations

Forced evacuation orders have displaced more than 1mn people in Lebanon