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The Latest Breaking News from Middle East

Households could face 8% jump in food prices due to Iran war, experts warn

IGD (Institute of Grocery Distribution) said the conflict in the Middle East could result in food inflation more than doubling by the summer.

Evening Standard

Fuel shortages, price hikes drive rethink on ethanol

Innovative fuel-saving ideas are being tossed up to tackle Australia's shortages as the Iran war throws global oil trade into chaos and prices soar.

AAP

Cotton Reverts Higher at Midday

Cotton futures were 15 to 46 points higher on Tuesday. The US dollar index was $0.310 higher at $99.035. Crude oil finished the day with late pressure to close up just 26 cents, as reports surfaced of a potential 1 month ceasefire on the Middle East conflict. The Seam showed...

Barchart

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Stocks Slide Again as Crude Oil Controls: Stock Market Today

The energy shock is starting to show up in survey data, with a resolution of Middle East oil and gas infrastructure disruptions still well over the horizon.

Kiplinger

Morning Mail: fears for economy amid fuel crisis, Israel sets sights on Lebanon, Mafs star Mel Schilling dies

Treasurer says end of Middle East war ‘can’t come soon enough’ as economy faces series of shocks

The Guardian - AU

Pentagon Scrambles 3,000 Elite 82nd Airborne Troops For Iran Showdown As Crisis Deepens

The US has placed 3,000 elite paratroopers on standby as tensions with Iran rise, signaling a potential shift in the Middle East crisis.

International Business Times UK

Israel wants to destroy Iran’s nuclear program. But should it have nuclear weapons itself?

Israel’s avowed goal in the Middle East war is to prevent Iran from acquiring nuclear weapons. Yet, the double standard associated with this is hardly sustainable in the long run.

The Conversation

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Crude Oil Prices Jump on Fears of a Wider Conflict in the Middle East

May WTI crude oil (CLK26 ) today is up +3.37 (+3.82%), and May RBOB gasoline (RBK26 ) is up +0.1158 (+3.92%). Crude oil and gasoline prices are sharply higher today, recovering some of Monday’s losses amid concerns that the conflict in the Middle East could escalate. Crude prices are climbing...

Barchart

Philippine president declares national energy emergency to respond to impact of Middle East war

Philippine President Ferdinand Marcos Jr_ has declared a state of national energy emergency to respond to the impact of the Middle East war, which his administration said poses “an imminent danger of a critically low energy supply.”

The Independent UK

Oil Prices Surge Again, US Stocks Waver as Iran Rejects US Negotiations

Oil prices surged while US equity indexes fell in early Tuesday hours after Iran reportedly rejected America's negotiations efforts.

International Business Times UK

Bellway shares hit as full-year earnings outlook disappoints

The builder cautioned over risks to the market from the Middle East conflict as mortgage rates have already begun to rise.

Evening Standard

Rio and Kate Ferdinand flee Dubai for Portugal after Iran drone attacks

The family relocated to their Portuguese villa days after the conflict in the Middle East began

Evening Standard

UK business growth ‘slowed to a crawl’ due to war in Middle East, survey shows

Businesses blamed the US-Israel war with Iran for souring customer demand, pushing up prices and disrupting their global supply chains.

Evening Standard

S&P Futures Waver as Concerns Over Middle East Conflict Persist, U.S. PMI Data in Focus

June S&P 500 E-Mini futures (ESM26) are trending up +0.02% this morning, swinging between gains and losses as optimism over a de-escalation in the Middle East conflict wanes.

Barchart

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The Independent UK

UK travel firm spends £1m to rescue stranded holidaymakers from Asia

Exclusive: Lancashire company Distant Journeys chartered an Airbus A350 to ferry 400 passengers home from Sri Lanka

The Guardian - UK

Energy price shock and interest rate rises could cause ‘pronounced’ UK recession, economist warns – as it happened

Morgan Stanley warns that UK could fall into a recession at the turn of the year, if energy prices remain high and Bank of England hikes interest rates

Caixin Global

Business Brief (March 24): China Adjusts Fuel Prices Amid Middle East Tensions

China responds to Iran oil security question; Chinese drone maker DJI sues Insta360 over patents it says involve core technology

The Times of India

UAE-India flight alert for March 24: IndiGo warns of schedule changes; Air India, AIX to operate 24 flights

The ongoing conflict between US, Israel and Iran has extended into the larger Middle East. Countries including Saudi Arabia, UAE, Qatar, Oman and others have been intercepting missile attacks from Iran.

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The Guardian - AU

Japan to begin biggest-ever oil release from national reserves as Middle East energy crisis bites

PM Sanae Takaichi says about 80m barrels of stockpiled oil to be provided to refiners – equivalent to 45 days of domestic demand

The Guardian - AU

Fire at Kuwait airport after drone attack – as it happened

This blog is closed.

The Guardian - AU

New Zealand to give cash payments to some low income families as global fuel crisis worsens

Policy begins on 1 April and is aimed to ease financial pressure as the price of fuel surges due to conflict in the Middle East

Barchart

Cattle Prices Show Resilience While Hog Prices Fade: What to Watch This Week

Uncertainty from the conflict in the Middle East and higher gas prices are major catalysts for cattle and hog futures now.

Radio France Internationale

'Point of no return' looming in Middle East war, says Red Cross

The International Committee of the Red Cross on Monday demanded a halt to the "war on essential infrastructure" in the Middle East, warning of potential "irreversible consequences" – including harm to nuclear facilities.

The Independent UK

Iran UK ambassador summoned by Foreign Office over ‘reckless and destabilising actions’

The diplomat was summoned on the instruction of Foreign Secretary Yvette Cooper and was met by Middle East minister Hamish Falconer

AAP

Diesel standards eased as fuel shortages deepen

Measures to help more diesel flow into the domestic market have been announced as hundreds of service stations across Australia run dry.

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