Story perspectives
Iran Conflict Fuels Energy Crisis Threatening UK Industries
3/19/2026
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Story summary
- The ongoing Iran conflict drives higher energy costs that threaten the UK and European steel and chemicals industries.
- Adolfo Aiello (Eurofer) says energy costs, amplified by the war, threaten steel sector survival.
- Somers Forge reports gas bills rising from £150,000 to £250,000 per month.
- The Chemicals Industry Association notes a 60% production drop since 2021.
- Huntsman Corporation's CEO warns that sustained high prices could force closures.
