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The World Trade Organization (WTO) has issued a stark warning that the world is currently facing the worst trade disruption in 80 years. This severe disruption is having far-reaching implications for the global economy, affecting trade flows and economic stability worldwide.The WTO's assessment underscores the gravity of the situation, with global trade experiencing unprecedented challenges. While specific details on the causes and exact extent of the disruption are not provided, the organization's statement highlights the urgent need for coordinated international efforts to address these issues and mitigate their impact on the global economy.

The recent surge in attacks in the Middle East has sparked fears of an impending energy crisis in Asia, a region that heavily relies on oil imports from the volatile region. The escalating tensions have led to concerns about the security of oil supplies, which could have far-reaching implications for the Asian economy.Asia's dependence on Middle Eastern oil has long been a concern, with many countries in the region relying heavily on imports to meet their energy needs. Any disruption to these supplies could have significant impacts on the region's economic growth and stability.The situation is being closely monitored by energy experts and policymakers, who are warning of the potential risks of an energy crisis in the region. The global economy is also likely to be affected, as any disruption to oil supplies could lead to higher prices and reduced economic growth.

The conflict in the Middle East is expected to have a significant impact on the UK's economy, with the Organisation for Economic Cooperation and Development (OECD) warning of rising inflation and downgrading the UK's growth forecast to 0.7% this year.The OECD's analysis suggests that the UK economy will grow by just 0.7% this year, compared to its last forecast of 1.2% for 2026. This downgrade is attributed to a weakening of the UK jobs market and a contraction in business investment towards the end of 2025.The UK's economy is expected to suffer higher inflation than previously expected, with the OECD citing the country's dependence on international trade and imports of fuel as a major factor. In contrast, France, Germany, and Italy are expected to suffer a more modest hit to growth of 0.2 percentage points.The OECD's chief economist noted that the evolving conflict in the Middle East will test the resilience of the global economy, which is expected to grow at an average rate of 2.9% this year. However, the organization warned of a significant downside risk to the outlook, citing persistent disruptions to exports from the Middle East and potential repricing in financial markets.UK Chancellor Rachel Reeves responded to the OECD's warning, stating that the government plans to take steps to build a stronger, more secure economy, including handing more powers to regional mayors, embracing AI and innovation, and establishing a closer relationship with the EU.

US markets witnessed a significant downturn on Thursday, marking their biggest slump since the onset of the US-Israel war with Iran. The Dow closed 450 points down, while the S&P 500 dipped 1.7%. The tech-heavy Nasdaq fell 2.3%, plunging into correction territory, which occurs when an index falls at least 10% below its most recent peak. The conflict has led to a surge in oil prices, reaching levels not seen since Russia's invasion of Ukraine in 2022. At the end of the day on Thursday, Brent crude oil, the global benchmark, was about $107 a barrel, while US crude hit $93 a barrel. Average US gas prices at the pump reached $3.98 a gallon, according to AAA. Despite the soaring prices, Donald Trump said that oil prices “have not gone up as much as I thought” during a cabinet meeting on Thursday. He predicted that prices would “come back down to where it was, and probably lower,” and that the impact on the stock market would reverse once the conflict ends. Markets have been growing weary of Trump's mixed signals on the US's stance in negotiations with Iran. Stocks dipped on Thursday morning after Trump posted a warning to Iranian negotiators that they “better get serious, before it’s too late.” However, later in the morning, Trump said that there were “very substantial talks” happening with Iran and that the country allowed 10 oil tankers to pass the blocked strait of Hormuz. The White House announced it will extend a pause on Iranian energy infrastructure strikes by 10 days, until 6 April. A new report estimates US inflation will average 4.2% this year, compared with an average of about 2.6% in 2025, according to the Organization for Economic and Cooperation and Development (OECD). The increase in inflation reverses what was expected to be strong growth for the global economy before the conflict began.

The ongoing conflict between the United States and Iran has sparked concerns about the motivations behind Donald Trump's continued military actions. Kenneth Roth, a Guardian US columnist and former executive director of Human Rights Watch, draws a striking parallel between Trump's approach and that of Richard Nixon during the Vietnam War. Nixon's quest for 'peace with honor' in Vietnam led to years of devastation, resulting in over 20,000 American soldiers killed and a significantly higher toll among Vietnamese, Cambodian, and Laotian civilians. Similarly, Trump's conflict with Iran appears to be driven by a desire to assert dominance and protect his political reputation, rather than a clear military objective. The article questions the rationale behind Trump's continued bombing of Iran, citing claims that Iran's ballistic missile capacity has been functionally destroyed and its nuclear program 'obliterated.' With 7,000 Iranian protesters killed in January, the Trump administration's call for regime change seems unlikely to succeed. The current fixation on Iran's blockade of the Strait of Hormuz, which carries 20% of the world's oil and gas, has led to soaring petroleum prices. Trump's threat to destroy Iran's electrical infrastructure by the end of the week, unless Tehran agrees to allow the strait to reopen, raises concerns about war crimes and humanitarian consequences. Roth suggests that a de facto ceasefire, where Trump and Benjamin Netanyahu stop bombing, could be a more fruitful path to deescalation. However, Trump's desire for 'unconditional surrender' and the Iranian regime's insistence on lifting sanctions and affirming its right to nuclear enrichment complicate negotiations. The article concludes that Trump's pursuit of 'honor' and 'victory' in the conflict may come at a significant cost to the people of Iran, the global economy, and the United States itself, echoing the lessons of the Vietnam War.

Western leaders are under pressure to de-escalate the conflict urgently, as the crisis continues to cripple the global economy and affect consumers. The UK and its allies are seeking a swift resolution to prevent further economic damage.

Oil prices have experienced a significant surge, rising more than 5%, in the wake of an Israeli strike on Iran's South Pars gasfield. This development comes as the United States-Israeli conflict with Iran continues to escalate.The international standard, Brent crude, rose 5 percent to $108.66 a barrel on Wednesday. Meanwhile, US West Texas Intermediate crude (CLc1), the price barometer for US oil, gained 2.5 percent to $98.65. This widened its discount to Brent to the largest since May 2019, driven by fears of a prolonged conflict.Iranian state media reported that natural gas facilities associated with its offshore South Pars field – the largest gasfield in the world, located off the coast of southern Iran's Bushehr province – were attacked. Iran's Revolutionary Guard threatened to attack oil and gas infrastructure in Qatar, Saudi Arabia, and the United Arab Emirates, heightening the risk of further disruptions to energy supplies in the region.Later on Wednesday, Qatari authorities reported a fire at the country's Ras Laffan gas facility after an Iranian ballistic missile attack. Qatar's Interior Ministry later confirmed that the fire had been brought under control.The US-Israeli war on Iran and Tehran's retaliatory attacks on Gulf neighbours have disrupted oil and natural gas exports from the Middle East and forced production stoppages. Experts warn that if these disruptions keep oil and gas prices elevated for an extended period, the global economy could experience a wave of inflation.Fighting has halted most shipments via the Strait of Hormuz, through which 20 percent of global oil and liquified natural gas supplies pass. Total oil output cuts in the Middle East are estimated at 7 million to 10 million barrels per day or 7 percent to 10 percent of global demand.

The conflict between Iran and Israel has taken a significant turn, with oil prices skyrocketing to unprecedented levels. Analysts are now warning that prices could reach $150 or even $200 per barrel, a scenario that was previously considered far-fetched.The global benchmark, Brent crude, has hit nearly $120 per barrel and has remained above $100 since March 13. The recent Israeli strike on Iran's South Pars gasfield and subsequent Iranian attacks on oil and gas facilities in Qatar, Saudi Arabia, and the United Arab Emirates have further pushed crude prices up to over $108 per barrel.The Strait of Hormuz, which accounts for about one-fifth of global oil supplies, has been effectively closed since Iran declared it shut early in the conflict. Only a handful of ships, mostly Indian, Pakistani, Turkish, and Chinese-flagged vessels, have been allowed to pass through in recent days.Market watchers agree that prices have room to move much higher if the Strait of Hormuz remains closed. Vandana Hari, founder of Vanda Insights, notes that benchmark Middle Eastern crudes have already crossed the $150 threshold, making $200 a possibility.The International Monetary Fund estimates that every 10% rise in oil prices would correspond with a 0.4% increase in global inflation and a 0.15% reduction in economic growth. Oil prices at $150 or higher would weigh heavily on the global economy.Adi Imsirovic, an energy expert at the University of Oxford, warns that oil at $200 per barrel would be a major handbrake to the world economy, impacting inflation, growth, employment, and potentially causing shortages of fuel and materials.

The ongoing conflict in Iran, now in its 18th day, has sparked concerns about the global economy's stability. Typically, during such periods of uncertainty, investors flock to safe-haven assets like gold, causing its price to rise. However, gold prices have remained broadly steady at around $5,000 an ounce.On Tuesday, spot gold was almost flat at $5,001.36 per ounce at 11:00 GMT, and US gold futures for April delivery rose just 0.1 percent to $5,005.20. This lack of movement is surprising, given that gold prices typically shoot up during economic crises as investors look for safe havens to shelter their cash.Experts suggest several reasons for this unexpected stability. Traders may be anticipating that the US Federal Reserve will halt interest rate cuts and perhaps even raise rates in response to rising inflation, making dollar assets more attractive and gold, which pays no interest, less so. Additionally, gold had already risen significantly at the start of the year, which may be contributing to its current stability.Another factor is the strengthened dollar, which provides an alternative safe-haven choice. Higher oil prices, which have soared above $100 per barrel due to the conflict, may also lead to higher inflation, making the dollar more attractive.Experts also note that gold has become a very speculative asset, and typical gold investors, including central banks, tend to be more risk-averse and may have been spooked by the volatility of gold in the current climate.For the price of gold to shift dramatically, two things would need to happen: a clear indication from the Federal Reserve that interest rates may be cut further, despite inflationary pressure, and a change in perception as to the length of the war.