Iran Live Updates: Global Markets Tumble After U.S. Warns War Could Last Weeks
Oil and gas prices surged and stock markets fell, after U.S. and Israeli officials signaled that strikes on Iran would intensify. As the conflict widened, Israel’s military stepped up operations against Iran-backed Hezbollah, which fired rockets into Israel.
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Gas and oil prices soar and shares tumble on fears conflict could escalate
Markets react as the conflict in the Middle East intensifies and concerns grow over how long it will last.
‘Ships now fear crossing the Strait of Hormuz’
“Ships are now afraid to cross the Strait of Hormuz, and that has profound implications for the global economy.”
Trump claims US stockpiles mean wars can be fought ‘forever’ ahead of meeting with German chancellor – US politics live
US president to meet Friedrich Merz in first face to face talks with an ally since Iran war began; Trump claims US munitions stocks ‘have never been higher’People in the US: share your views of the Iran conflictSign up for the Breaking News US email to get newsletter alerts in your inboxIn a late night post on Truth Social, Donald Trump said that the US munition stockpiles “at the medium and upper medium grade” have “never been higher or better”.He added that the US has a “virtually unlimited supply of these weapons”, meaning that “wars can be fought ‘forever’”. Continue reading...
Why Europe's leaders have struggled to speak as one on Iran
European nations say they want to work better together but have differing priorities
Video shows effects of debris falling on a building in Tel Aviv
New footage shows debris falling onto a residential building in Bnei Brak, east of Tel Aviv.
Middle East crisis live: Israel launches fresh attacks on Tehran and Beirut
Israeli airforce attacking cities simultaneously with a ‘wave of extensive strikes’ as soldiers are deployed on the ground in southern LebanonUS strikes on Iran triggered by Israel’s plan to launch attack, Rubio saysAnger with Hezbollah boils as war returns to weary BeirutUS secretary of state Marco Rubio has claimed the US attacked Iran after learning that Israel was going to strike, which would have meant retaliation against US forces.“We knew that if we didn’t pre-emptively go after them before they launched those attacks, we would suffer higher casualties,” he told reportersThe Air Force is now attacking Tehran and Beirut simultaneouslyThe Air Force has now begun a wave of extensive strikes against the Iranian terror regime and the Hezbollah terror organization. Continue reading...
In a World Order Defined by Trump, the Key to Europe’s Defense Is Germany
In the wake of the U.S. bombing of Iran and its dismissal of European allies, an anxious continent’s best chance at security runs through its largest economy.
Many Americans stranded in Middle East after US advisory to depart immediately
State department urged US citizens in 14 countries to leave, but many flights have been canceledSign up for the Breaking News US email to get newsletter alerts in your inboxAmericans across the Middle East are scrambling to leave the region after the US state department late on Monday urged US citizens in 14 countries there to depart immediately as the conflict with Iran widens.Mora Namdar, the US assistant secretary of state for consular affairs, issued the advisory on Monday, urging Americans to “DEPART NOW” from more than a dozen countries, citing “serious safety risks”. Continue reading...
Iran conflict could have ‘very significant’ impact on UK economy, OBR warns in spring forecast – live updates
Spring forecast show UK unempoyment to peak higher than feared, as tax take heads for a record, but headroom against fiscal rules has increasedSpring forecast: Reeves insists Labour has ‘right economic plan’ as 2026 growth downgradedUK grocery price inflation has risen, showing that people are being hit in the pocket even before the surge in energy prices feeds through to the economy.Data provider Worldpanel by Numerator has reported that annual grocery inflation rose to 4.3% in February, after four consecutive months of falls, in a blow for households. That’s up from 4% in January.Sentiment towards BP and Shell has strengthened significantly off the back of oil price spikes. But it’s a complex picture. Neither company has production in Iran. But BP’s significant production in Iraq and Abu Dhabi risks being bottlenecked through disruption to the Strait of Hormuz. For Shell the same applies to its LNG facilities in Qatar and the Emirates. If a moderate sustainable regime is established in Iran, there is the potential for substantial derisking, and for prices to be rebased downwards. If sanctions are removed, it also opens the door for investment into Iranian oil fields.But uncertainty remains high. This could prove to be highly profitable for both Shell and BP’s trading arms with Shell’s optimisation capabilities in LNG transit likely to be in particularly strong demand. Shell’s balance sheet strength also leaves it better placed to deal with any prolonged volatility and while BP’s buybacks remain on pause, we’re expecting Shell’s generous payouts are likely to continue this year. Continue reading...