UK petrol prices have reached 160p per litre, their highest point since the Iran war began, as the conflict continues to disrupt oil supplies and drive up wholesale costs. Diesel prices are also rising, with experts predicting further increases, despite a government scheme and postponed fuel duty.
A tentative US-Iran agreement to end a 3-month war may cool Middle East tensions, but oil flows through the Strait of Hormuz face a slow recovery. Analysts predict weeks to months for normal supply, with mine clearance and security assurances key.
A tentative US-Iran agreement to end a 3-month war is expected to cool Middle East tensions. While oil prices fell, normal flows through the Strait of Hormuz, crucial for global oil trade, may take weeks or months to resume due to shipping bottlenecks and mine clearance.
A tentative US-Iran agreement to end a 3-month conflict is expected to cool Middle East tensions. While oil prices dipped, the Strait of Hormuz, crucial for global oil trade, faces a slow recovery, potentially taking weeks or months to normalize flows.
Iran is reportedly considering using its allies in Yemen, the Houthi movement, to target the Bab al-Mandab Strait, a crucial maritime chokepoint connecting the Red Sea to the Gulf of Aden. This potential escalation could disrupt global shipping lanes and oil supplies, impacting international trade and energy markets.
Alabali Radovan visited Lebanon for two days to assess the impact of the Israel-Hezbollah conflict, focusing on internally displaced persons and government reform efforts. Radovan emphasized the need for peace, stability, and future prospects, calling for a ceasefire and end to the war.
The Middle East conflict is affecting Asia Pacific's commercial real estate due to rising energy costs, inflation, and interest rate uncertainty, impacting logistics, construction, retail, office, and investment sectors.
A medical supply company, Gentell, is facing increased costs for raw materials and shipping due to the conflict in the Strait of Hormuz. CEO David Navazio notes price surges and longer shipping times, impacting company margins as they cannot immediately pass costs to the US government, their largest customer.
France urges Israel to halt construction on UNRWA site. US criticizes allies' lack of support. Global oil market faces critical period this summer due to Middle East conflict. Iran controls Strait of Hormuz traffic.
Egypt and Somalia condemn Somaliland's embassy in Jerusalem. Ethiopia accuses Egypt of blocking sea access. Yemen grapples with climate change and conflict impacting agriculture, with UN projects focusing on water management.
Global businesses face at least $25 billion in losses due to the US-Israeli war with Iran, driven by rising oil prices, disrupted trade routes, and higher operating costs. Airlines are most affected, but the impact is spreading across sectors.
South Korea's Finance Minister Koo Yun-cheol acknowledges the Middle East conflict's impact on consumer prices despite strong exports, vows to stabilize supply chains and prepare a 2H 2026 growth strategy focusing on economic security and easing polarization.
Sainsbury's CEO Simon Roberts has called on the UK government to help ease rising energy costs for farmers, food producers and retailers caused by the Middle East conflict, warning this is the single biggest factor that could keep food prices from rising further. The supermarket group reported a 1.1% increase in annual underlying profits to £1.03bn but warned that profits could fall this year due to the conflict's impact on customer budgets and business costs. Shares slid almost 5% on Thursday, with the company predicting underlying profit of £975m to £1.08bn for the current year.
Centara Hotels & Resorts, operating over 50 properties mostly in Thailand, is adapting its offerings as Middle East conflict disrupts long-haul European travel routes. Chief Operating Officer Michael Henssler noted concerns about worsening conditions, but observed market stabilization. The hotel chain is tailoring services like photo sessions at Koh Samui resorts and late-night noodle bowls at Centara Life properties to maintain appeal.
BlackRock has upgraded its outlook for U.S. stocks to overweight, citing contained impacts from the Iran conflict and strong corporate earnings expectations. The firm sees reduced geopolitical risk and anticipates significant profit increases for S&P 500 companies.
