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The Latest Breaking News from Iran

US wholesale prices surged 4% last month as the Iran war sent energy prices soaring

U.S. wholesale prices surged last month as the Iran war drove up the cost of energy

The Independent UK

New federal figures reveal 1 in 3 US households struggle to pay energy bills, but the reality is likely even worse

Americans’ concerns about being able to afford electricity and home heating fuel are elevated since the beginning of the Iran war. But newly released nationwide data shows that even before the war began, these concerns were widespread, long-standing and getting worse faster than the data can reflect.

The Conversation

Drivers look to electric vehicles as cost of petrol soars due to Iran war

Petrol is almost £14 more expensive for a full tank compared to before the Iran war, while a full tank of diesel is almost £27 more

The Independent UK

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First Thing: US starts naval blockade of Iranian ports after deadline passes

Iran says Americans will be hit with higher fuel prices due to the blockade. Plus, summers are growing longer globally

The Guardian - UK

Trump’s remarks about the Pope ‘utterly deplorable’, Swinney says

Scotland’s First Minister also called on the UK Government to act to mitigate the impact of the Gulf crisis on fuel prices.

Evening Standard

How to save money on fuel as Iran war hikes prices

IN FULL

The Independent UK

Trump’s blockade appears to be turning back tankers in the Strait of Hormuz – but Iran has a trick up its sleeve

Analysts say that Iran has already moved vast quantities of its oil offshore and a full blockade would be complex to implement

The Independent UK

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IEA warns of historic oil supply shock as Iran war chokes global markets

The International Energy Agency (IEA) has warned of an unprecedented energy shock, with global oil production plunging by over 10 million barrels per day in March, as diplomatic efforts between Washington and Tehran fail.

Euronews

The Latest: Pakistan proposes new US-Iran talks as Vance and Trump hint at progress

Pakistani officials on Tuesday said Islamabad has proposed a second round of talks to the U.S. and Iran

The Independent UK

UK ‘headed for stagflation’ as economy flatlines and inflation bites due to Iran war

Stagflation – a combination of rising inflation, higher unemployment and low or zero economic growth – is seen as a ‘worst of both worlds’ scenario

The Independent UK

Detention of journalist in Kuwait raises questions about crackdown on freedom of speech

Ahmed Shihab-Eldin was arrested after reporting on friendly fire incident during US conflict with Iran

The Guardian - UK

Trump refuses to apologise after clash with Pope Leo XIV over Iran war

Despite widespread criticism including Italian Premier Giorgia Meloni's rare rebuke after the US president lambasted the US-born pontiff for being "weak on crime," Trump said no to an apology to the Catholic Church's Holy Father while reiterating his claims.

Euronews

Stock Index Futures Gain on Hopes for Renewed U.S.-Iran Talks, PPI Data and More Big Bank Earnings on Tap

June S&P 500 E-Mini futures (ESM26) are up +0.19%, and June Nasdaq 100 E-Mini futures (NQM26) are up +0.39% this morning as risk appetite improved and oil prices fell following reports that the U.S. and Iran were weighing another round of peace talks.

Barchart

JD Vance accuses Iran of ‘economic terrorism’ in Strait of Hormuz and threatens ‘two can play that game’

Vice president said negotiations with Tehran ‘didn’t move far enough’ in Islamabad

The Independent UK

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The Independent UK

UK workers should stay at home to save fuel, says ex-government adviser

Professor Nick Butler warns the price of diesel could still go a ‘good deal’ north of £2 per litre

Caixin Global

Business Brief (April 14): CATL Said to Weigh $5 Billion Hong Kong Share Sale

Beijing addresses Iran-linked reports; OPEC trims oil demand forecast

The Guardian - UK

BP’s new boss to overhaul structure after retreat from green strategy

Meg O’Neill to return to upstream and downstream divisions after shift away from low carbon push

Evening Standard

Starmer and Macron to co-host Strait of Hormuz talks in Paris on Friday

The efforts are focused on safeguarding the vital oil and gas shipping route after the Iran war ends.

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Radio France Internationale

US to host rare talks between Lebanon and Israel despite Hezbollah boycott

Lebanese and Israeli representatives are scheduled to meet in Washington Tuesday for US-mediated talks on ending the war in Lebanon – the first high-level talks of this nature in 30 years. But the prospects of an agreement appear slim after pro-Iran Hezbollah said it would not respect the outcome.

The Independent UK

Lebanon and Israel hold first talks in decades in bid to end devastating war

Washington is hosting the diplomatic talks and US Secretary of State Marco Rubio will participate

The Independent UK

Watch Strait of Hormuz marine traffic before Iran war, after ceasefire and as blockade begins

IN FULL

Evening Standard

Starmer chairs new committee to respond to Iran crisis

The formation of a new Cabinet committee is a signal the situation in the Middle East will have a prolonged impact on the UK.

The Independent UK

Catholic JD Vance weighs in on Trump’s ‘Jesus doctor’ photo and his feud with Pope Leo

Vice President JD Vance said that, in some cases, it ‘would be best for the Vatican to stick to matters of morality’

Axios

Trump's incredible shrinking tent

Trump is methodically torching the eclectic coalition that made him president.

Euronews

Hormuz standoff turns into a cautious waiting game as US blockade begins

Trump claims Iran made new contact for a deal, as the first hours of the US blockade in the Strait of Hormuz show an apparent cautious approach from all sides as the fragile ceasefire is still holding. But China announces its own shipping transit agreement with Iran, warning the US…

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