The Cold Chain Federation warns the UK's food supply system is at risk due to fuel shortages, cyber attacks, extreme weather, and international conflicts, urging the government to prioritize resilience amid critical infrastructure concerns.
Turkey's Energy Minister Alparslan Bayraktar stated that natural gas supply via the Strait of Hormuz is non-existent and oil shipments are manageable, posing no threat to energy security. He highlighted increased domestic and renewable energy investments, with renewables comprising 62.4% of installed capacity.
Pacific foreign ministers have established a regional taskforce to address potential fuel supply disruptions caused by conflict in the Middle East. The Pacific Islands Forum secretary-general warned that the region would suffer if tankers stop arriving, while foreign ministers endorsed an appeal for peace and an end to the war in Iran.
Bank of Japan held its policy rate at 0.75% in a split 6-3 vote, revising inflation forecasts upward to 2.8% due to Iran war supply-side risks while cutting its 2026 growth forecast to 0.5%. The central bank warned that rising crude oil prices from the Middle East crisis would crimp corporate profits and real household incomes. Japan narrowly avoided a technical recession in Q4 2025, with 0.3% QoQ and 1.3% YoY growth. The 10-year bond yield hit 2.496% on April 13, the highest since 1997.
JPMorgan has downgraded Indian equities to neutral from overweight, warning the Nifty 50 could fall to 20,500 in a worst-case scenario—a 15% drop from current levels. The brokerage cited high valuations and Iran conflict uncertainty as key concerns, while also flagging risks to company earnings from potential energy supply disruptions. HSBC also downgraded India to underweight, its second downgrade in two months, pointing to rising inflation risks from high oil prices and the ongoing West Asia conflict impacting India's energy-dependent economy.
South Korea has secured 74.62 million barrels of crude oil for May, reducing its reliance on Middle Eastern imports to 56 percent. The government has diversified supply routes to bypass the Strait of Hormuz amid ongoing regional tensions.
Oil markets have whipsawed since the start of the Iran war, with supply risks around the Strait of Hormuz driving extreme price swings and historic volatility.
Oil prices dipped Tuesday, reversing Monday's surge, as hopes for US-Iran peace talks eased supply disruption fears. Despite Iran's Strait of Hormuz closure and vessel seizure, investors are watching potential ceasefire extensions. However, Tehran's participation remains uncertain, with supply risks persisting and analysts warning of significant price hikes if talks falter.
