We tally the impact of war on industries around the globe as the conflict in Iran stretches into its third month. Plus, Britain braces for voters to deliver a potentially seismic change to the political system. And, though many industries are preparing to deal with shortages caused by the Strait of Hormuz closure, the US and Europe have a glut of milk.

Mentioned in this podcast:

Airlines slash flights as fuel shortage fears mount

UAE fertiliser giant resorts to trucks to shift product out of Gulf

Detroit carmakers warn of $5bn commodities shock due to Iran war

Exxon and Chevron defy Trump pressure to boost oil production

Oil market one month from crunch point as global stockpiles dwindle

Trump’s war in Iran leaves US with sharpest fuel shock in G7

Political Fix: Labour braces for ballot box bloodbath

The land of milk and no money: UK farmers are in a fix

Note: The FT does not use generative AI to voice its podcasts

Today’s FT News Briefing was hosted by Victoria Craig and produced by Marc Filippino and Saffeya Ahmed. Our show was mixed by Alex Higgins. Additional help from Peter Barber. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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Global industries squeezed as Iran war enters third month