Energy crisis not over despite relief rally

Oil prices have plunged and stock markets soared after the announcement of a two-week ceasefire between the US and Israel and Iran. But regardless of whether the deal holds, the energy crisis unleashed by the war is far from over. Damage to infrastructure in the region means it could take years for oil and gas production to get back to pre-war levels. Meanwhile, global aviation group IATA says supplies of jet fuel will remain tight.

By Kate MOODY