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Donald Trump has launched a scathing attack on the UK's military capabilities, describing its aircraft carriers as 'toys' compared to those of the US. Speaking at the White House, Trump claimed that the UK had offered to send two aircraft carriers to support US military actions against Iran, but he had rejected the offer, saying 'Don't bother, we don't need it.'The comments have sparked a fresh row between Trump and UK Prime Minister Keir Starmer, who has refused to engage directly with the US president's repeated insults. Starmer has emphasized his focus on addressing the UK's domestic priorities, including the cost of living crisis, and has reiterated his commitment to defending British interests while avoiding escalation.Tensions between the US and UK have been rising over Nato's role in the conflict with Iran. Trump has expressed disappointment with Nato allies, accusing them of not doing enough to support the US. He also criticized Starmer for not providing sufficient support, saying 'He's not exactly Winston Churchill.'In response, Starmer has reaffirmed the UK's commitment to its Nato allies while emphasizing the need to address the threat posed by Russia. During a visit to Finland, Starmer warned of a 'war on two fronts' – Ukraine and Iran – and highlighted the importance of cooperation between Nato allies to counter these threats.The UK has deployed a warship, HMS Dragon, to the eastern Mediterranean in response to an Iranian-made missile launch from Lebanon at a UK RAF base in Cyprus. Officials are also considering deploying a Royal Navy vessel to support efforts to reopen the Strait of Hormuz, a critical waterway for global energy supplies.

The US-Israel war on Iran has effectively closed the Strait of Hormuz, a critical shipping route for materials used in the production of various everyday products. As the conflict enters its fifth week, global oil shortages are forcing countries to take severe measures to conserve their reserves. While US gas prices have surged to their highest level in years, the impact of rising oil prices extends far beyond drivers. Oil is a crucial component in the supply chain, powering machines that manufacture goods and fueling trucks that transport them to stores. The price increases come at a time when many Americans are already strained by rising housing costs, grocery bills, and electricity statements. A recent Gallup poll found that a third of Americans have had to skip meals and forego other needs to afford their healthcare. Oil and Gas The average cost of gas in the US has jumped about 30% over the last month, with the national average hitting $3.97, the highest since 2023. Diesel, which fuels many trucks transporting goods, has increased by about 50%, or $1.69 more than it did a year ago. Higher diesel costs could soon affect transportation costs and grocery prices, as roughly 85% of agricultural goods are transported by trucks. The impact of oil and gas shortages on the supply chain can be categorized as first-order effects, such as higher prices at the gas pump, and second-order effects, including potential price increases for crops, semiconductor chips, and medical devices. Fertilizer Farmers are struggling as the spring growing season approaches, facing higher fertilizer costs and falling commodity prices. A third of global urea trade, a solid nitrogen fertilizer, passes through the Middle East region, with about 20% of imported fertilizer to the US coming from Qatar. Nitrogen fertilizer is critical to grow corn, which is cultivated by about 500,000 farmers in the US. The White House has promised to minimize disruptions to the US economy, with alternative sources of fertilizer being sought from around the world. Helium The conflict has disrupted the global helium supply after Iranian attacks in Qatar, the second-largest producer of helium after the United States. Helium is a key import used in aerospace, magnetic resonance imaging (MRI), and semiconductor chips that power AI. Jet Fuel Increases in oil prices could result in higher airfare and shipping costs. The price of jet fuel has doubled since the start of the war, according to the International Air Transport Association. United Airlines announced last Friday that it would have to cut flights due to the surging cost of fuel. < h2>Mortgage Rates Just as US mortgages were starting to fall in February, the average 30-year fixed mortgage rate ticked up to its highest level in months, reaching 6.22%. Mortgage rates are closely tied to the overall state of the economy, and the US Federal Reserve's decision to leave rates unchanged last week cited uncertainty in the economy, particularly with conflict in the Middle East.

The ongoing conflict between Iran and the US-Israel alliance has severely disrupted shipping through the Strait of Hormuz, a vital passage for about a fifth of the world's oil and gas supplies and a third of global fertilisers necessary for food production.Before the conflict, an average of 138 ships a day transited the strait. However, following the escalation, 100 vessels have exited the Gulf and only 40 have entered in the past month, according to Lloyd’s List Intelligence.Despite over 20 reported attacks on ships in the region, including near-misses and damage to vessels, some ships are still attempting to cross, with Iran permitting 'non-hostile vessels' to use a 'safe corridor' in its territorial waters. This route allows Iranian authorities to visually verify vessels and potentially demand payment for safe passage.The International Maritime Organization (IMO) has raised concerns about the 20,000 seafarers stranded in stressful conditions with dwindling supplies. Over 30 countries have agreed to work together to safeguard the strait, with the UK offering to host an international security summit to devise a plan to reopen it.

US President Donald Trump has reiterated claims that negotiations are underway with Iran, contradicting Tehran's assertion that such claims are 'fake news'. This development comes amid heightened tensions between the US and Iran.In a recent escalation of hostilities, at least 12 people were killed and 28 wounded in an airstrike targeting southern Tehran. The incident is part of a series of US and Israeli attacks on Iranian territory.The situation underscores the fragile state of US-Iran relations, with both sides engaging in a war of words and actions. Trump's claims of ongoing talks with Iran have not been substantiated, adding to the uncertainty and heightened tensions in the region.

New Zealand football players have expressed their willingness to play their FIFA World Cup 2026 match against Iran outside the United States, citing the ongoing geopolitical tensions between the US and Iran. The match, scheduled for June 15 in Los Angeles, has been put into doubt due to Iran's threat to boycott fixtures on US soil.The Iranian Football Federation has raised concerns over the fixture, following the recent escalation of tensions between Iran and the US-Israel alliance. Despite this, New Zealand's players remain committed to the match and are prepared to adapt if necessary.Ryan Thomas, a Netherlands-based midfielder for New Zealand, emphasized that Iran has earned its spot in the World Cup and that the team would be able to manage the extra attention generated by the match. 'They deserve to be there as qualifiers,' he told Reuters. 'If we've got to play them in Mexico or Canada, then yeah, we play them there. It's not really a big deal for me.'New Zealand's team is set to be based in San Diego, California, which is close to the Mexican border. Mexican President Claudia Sheinbaum has indicated that her country would be open to hosting Iran's World Cup fixtures, should a venue switch be necessary.Kosta Barbarouses, an Australia-based winger for New Zealand, echoed Thomas's sentiments, stating that a venue switch would not disrupt the team's preparations. 'I don't think it would derail our preparation at all,' he told Reuters. 'We've got a base before our first game, anyway. So, yeah, I don't see why not.'FIFA has declined to comment on the possibility of switching venues for Iran's games but has stated that it is in contact with the Iranian Football Federation and looks forward to teams competing as per the current match schedule.

QatarEnergy has invoked force majeure on certain long-term liquefied natural gas (LNG) supply contracts, impacting customers in Italy, Belgium, South Korea, and China. This decision comes as the company faces production and supply disruptions due to the ongoing conflict between the US, Israel, and Iran.The force majeure clause, commonly included in contracts, allows a party to be excused from its obligations under unforeseen circumstances. This is not an isolated incident, as petroleum companies in Kuwait and Bahrain have also recently invoked force majeure.The global energy market has been significantly affected since the US and Israel began their attacks on Iran on February 28. Iranian missile and drone strikes across the Middle East, particularly in the Gulf region, have targeted crucial oil and gas facilities. These actions have led to international condemnation and have essentially closed the Strait of Hormuz, a vital waterway through which approximately one-fifth of the world's oil and LNG supplies pass.QatarEnergy's CEO, Saad al-Kaabi, recently reported that an Iranian attack on Qatar's Ras Laffan gas facility resulted in the loss of about 17 percent of the country's LNG export capacity. This damage is expected to cause an estimated $20 billion in lost annual revenue and threatens supplies to Europe and Asia. The repairs are anticipated to sideline 12.8 million tonnes of LNG production per year for three to five years.The conflict escalated after the Israeli military targeted Iran's offshore South Pars gasfield, prompting Qatar and other Gulf countries to condemn the attacks on energy infrastructure. These actions are viewed as threats to global energy security and violate international law and the United Nations Charter.

The ongoing conflict between the United States and Iran has led to a war of words over whether negotiations are taking place to end the hostilities. US President Donald Trump asserts that 'productive' talks have occurred with a top Iranian figure, but Iranian officials, including Parliamentary Speaker Mohammad Bagher Ghalibaf, vehemently deny these claims.The conflicting narratives raise questions about the motivations behind each side's statements. An analysis of what each side stands to gain from negotiations and a potential end to the conflict may provide clarity. Trump's comments on negotiations may be aimed at calming stock markets and oil prices, which have fluctuated significantly due to the conflict.The timing of Trump's comments coincides with the end of the trading week and a five-day deadline he gave for a positive response from Iran. This has led some to speculate that the US may be using talk of negotiations as a strategy to buy time for more US troops to arrive in the Middle East, potentially for a ground invasion of Iranian territory.From Iran's perspective, the economic pain inflicted on the US and global economies serves as a deterrent against future attacks. Therefore, it is in Iran's interest to downplay any talk of negotiations to maintain pressure on the US.Trump faces a dilemma between extending the war and suffering economic and political costs or ending it and facing criticism for not completing what he termed a 'short-term excursion.' The Iranian state, on the other hand, appears to have less incentive to end the war without establishing an effective deterrent against future attacks.The conflict has already resulted in over 1,500 deaths in Iran, significant infrastructure damage, and strained relations with Gulf neighbors. Moderate voices in Iran may argue that some form of deterrence has been achieved, and it may be time to talk and secure concessions.

Iran has assured that 'non-hostile' vessels can safely pass through the Strait of Hormuz, a vital shipping route for about one-fifth of the world's oil and liquified natural gas supplies. The assurance comes amid a significant collapse in maritime traffic through the strait, which has contributed to a major global energy crisis.In a statement released through its mission to the United Nations, Iran specified that ships would be allowed to transit the strait 'provided that they neither participate in nor support acts of aggression against Iran and fully comply with the declared safety and security regulations.'The development follows a sharp decline in shipping traffic through the strait, with only about 5 vessels passing through daily, compared to an average of 120 daily transits before the US-Israel conflict began. This reduction has led to a surge in global energy prices, with Brent crude experiencing significant fluctuations.Iran's statement also mentioned that ships will be allowed to transit 'in coordination with the competent Iranian authorities.' The country has shared similar assurances with the International Maritime Organization (IMO), the UN body responsible for international shipping safety and security.The move comes as US President Donald Trump mentioned ongoing negotiations to end the conflict with Iran, despite Tehran's previous denials of talks. The situation remains complex, with global markets closely watching for any signs of resolution.

As the conflict drags on, Iranians are attempting to maintain a semblance of ordinary life in the face of constant explosions and airstrikes. The days following Nowruz, the Persian New Year, are usually a time of renewal and celebration, but this year, the atmosphere is tense."More and more, people are starting to normalise this war", said Farhad, a photography editor in Tehran. "It's difficult, but we're adapting and trying to return to our daily lives as much as possible. There's no alternative. We're tired. We just want peace."Despite the challenges, some Iranians are finding ways to cope. Aylar, a 39-year-old human rights worker, paid for an expensive VPN to circumvent the internet blackout imposed by Iranian authorities so she could stay in touch with relatives abroad. She also made time for a coffee date with friends, highlighting the complexity of life during conflict.The humanitarian toll is significant, with Iran's official death toll frozen at around 1,500, but the real figure may be more than 3,000, according to the Iranian Human Rights Activists News Agency. Many more have been injured, and the psychological impact is profound.As the situation continues to unfold, uncertainty and division within Iranian society are palpable. While most Iranians oppose the war, some have welcomed it as a potential catalyst for change. The future remains uncertain, with concerns that the conflict could become a recurring reality.