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The Iranian military has strongly condemned the US plan to blockade its ports, calling it an act of piracy. The blockade, set to begin on Monday at 14:00 GMT, would restrict all vessels entering or departing Iranian ports. The Iranian army has warned that if its ports are threatened, no port in the Persian Gulf and Arabian Sea would be safe.The US Central Command has stated that the blockade would be enforced impartially against vessels of all nations entering or departing Iranian ports. However, the military would not impede vessels transiting the Strait of Hormuz to and from non-Iranian ports. The Strait of Hormuz is a critical route for global oil and gas shipments.Oil prices surged almost 8 percent on Monday, with both key WTI and Brent contracts topping $100 a barrel. The increase comes amid concerns over the potential impact of the blockade on global energy supplies.The move has been criticized by China, which urged Iran and the US not to reignite the war. Spain's Defence Minister Margarita Robles said the planned naval blockade 'makes no sense', while UK Prime Minister Keir Starmer stated that Britain would not join the US blockade.

In a dramatic escalation, police in Noida, a suburb of the Indian capital, deployed tear gas to quell a four-day-old protest by factory workers on Monday. The demonstration had turned violent, with protesters torching vehicles and peltng stones in parts of the satellite city.The police stated that they used "minimum force" to maintain law and order. Narendra Kashyap, a lawmaker from the northern state of Uttar Pradesh, where Noida is located, urged protesters to engage in discussions with the government regarding their demands.Senior police and administrative officials are making persistent efforts to counsel the workers and encourage them to maintain peace and restraint, according to a statement by the Gautam Budh Nagar police.The protest visuals showed dozens of protesters marching on the street, chanting slogans, while security personnel in anti-riot gear looked on. Other images depicted an overturned vehicle with flames and protesters attempting to break through barricades.Noida, one of Asia's largest planned industrial townships, houses thousands of industrial units. The rising living costs globally, exacerbated by the US-Israel conflict with Iran which has impacted fuel supplies, have added to the workers' grievances.In a similar protest in the neighboring state of Haryana last week, the government ordered a 35 percent increase in minimum wages following demonstrations near production units of several car manufacturers.Vinay Mahoti, a 30-year-old worker from Bihar employed at a hosiery company in Noida, highlighted the workers' demands, including fixed duty hours, overtime pay, and adherence to federal government guidelines by companies.

The ongoing conflict between the US and Iran has led to a sharp increase in crude prices, driving up fuel costs and placing strain on households worldwide. In the six weeks since the US and Israel launched strikes on Iran, oil prices have risen sharply, with the main international benchmark surging more than 8 percent to top $103 a barrel.However, the price of oil is more complicated than any one figure and depends on where you look. The oil trade can be broadly divided into two distinct markets: physical sales and contracts for future oil deliveries, known as futures.Since the start of the war and Iran's effective blockade of the Strait of Hormuz, prices in these markets have diverged substantially – reflecting what analysts say is a growing mismatch between perceptions of supply and the reality on the ground. Dated Brent hit an all-time high of more than $144 a barrel – about $35 above the price of Brent futures.The principal benchmark for spot prices is Dated Brent, a basket of four grades of oil produced in the North Sea and one produced in the US. It reflects the per-barrel price of oil scheduled for shipment in the next 10 to 30 days. On the other hand, Brent futures are financial derivatives that reflect the price of oil due to be loaded months or even years from now.The futures price is the price most commonly found in news reports and search engine results. However, the gap between spot and futures prices has widened well beyond what is typical since the conflict began, indicating that oil supplies are becoming increasingly scarce on the ground.Analysts say traders have been betting on a resolution to the crisis down the track, with the return of price stability depending on Iran easing its control over the strait and shipping companies gaining confidence that it is safe to transit. The global economy is still facing a daily shortfall of about 8 million barrels of oil, according to a recent estimate by market intelligence provider Kpler.

Oil prices experienced a significant surge following US President Donald Trump's announcement of a naval blockade on Iran. Brent crude, the international benchmark, rose more than 8 percent to top $103 a barrel on Sunday.The blockade, which was later clarified by US Central Command to only affect vessels traveling to and from Iran, is set to take effect on Monday at 10am Eastern Time (14:00 GMT). This move has heightened uncertainty in global financial markets, with major stock markets in Asia opening lower on Monday.The Strait of Hormuz, a critical conduit for about one-fifth of global oil and natural gas supplies, has been a focal point of tensions between the US and Iran. Despite a fragile truce between the two nations, only 17 vessels crossed the strait on Saturday, down from roughly 130 daily transits before the conflict.The blockade threat has stoked fears of supply disruptions, contributing to the rise in oil prices. This development comes after oil prices had fluctuated significantly in recent weeks, topping $119 last month before falling below $92 a barrel last week.Global markets are closely watching the situation, with US stock futures and Asian markets experiencing declines. Japan's benchmark Nikkei 225 fell 0.9 percent, while South Korea's KOSPI dropped more than 1 percent.

In a significant political shift, Hungary's opposition party Tisza, led by Peter Magyar, has emerged victorious in the parliamentary elections, defeating the ruling Fidesz party of Viktor Orban, who has led the country for 16 years.According to early results, Tisza is projected to win 52.49 percent of the vote, while Fidesz secured 38.83 percent. This outcome marks a substantial change in Hungary's political landscape.Conceding defeat, Orban stated that the situation was “understandable and clear,” and he congratulated Magyar on his success. In response, Magyar thanked Hungary for its support and confirmed Orban's congratulatory message.The international community has reacted positively to the election results. Estonia's Prime Minister Kristen Michal praised Hungarians for making a “historic choice for a free and strong Hungary in a united Europe.” European Commission President Ursula von der Leyen hailed Magyar's victory, saying, “Hungary has chosen Europe.”Similarly, France's President Emmanuel Macron, Germany's Chancellor Friedrich Merz, Lithuania's President Gitanas Nauseda, Norway's Prime Minister Jonas Gahr Store, and Poland's Prime Minister Donald Tusk have all congratulated Magyar and expressed their support for Hungary's commitment to European values.Ukraine's President Volodomyr Zelenskyy also welcomed the outcome, emphasizing the importance of cooperation and stability in Europe. He expressed readiness for meetings and joint work to benefit both nations and promote peace and security in Europe.

Ukraine and Russia have exchanged accusations of violating the Orthodox Easter ceasefire, as the conflict between the two nations continues to escalate. The truce, which was agreed upon for 32 hours, was intended to provide a temporary reprieve from hostilities during the religious holiday.According to the Ukrainian military's general staff, 2,299 ceasefire violations were recorded, including 28 enemy assault actions, 479 enemy shellings, and 747 strikes by attack drones. In response, Russia's Ministry of Defence accused Kyiv of nearly 2,000 breaches, including 258 artillery or tank attacks and 1,329 FPV drone strikes.The ceasefire violations have raised concerns about the prospects of a lasting peace agreement. The Kremlin has stated that it will not extend the truce unless Kyiv accepts its terms, which include control of 17-18 percent of Ukraine's disputed Donetsk region. Ukraine has proposed freezing the conflict along the current front lines, but Russia has rejected this, seeking control of the entire Donetsk region.Despite the challenges, the truce did bring some relative calm to the region, with the Ukrainian army reporting no long-range Shahed drone attacks, guided aerial bombings, or missile strikes during the ceasefire period. However, the conflict has continued to take a toll on civilians, with Governor Alexander Khinshtein of Russia's Kursk region accusing Kyiv of breaking the ceasefire by attacking a petrol station, injuring three people, including a baby.

Peruvians are heading to the polls to elect their ninth president in less than a decade, a period marked by political instability and corruption scandals that have led to widespread voter disillusionment.Since 2018, Peru has seen eight presidents, with a high turnover rate marred by impeachments and corruption scandals. This has resulted in weak governments and a lack of trust in the political system.On Sunday, 27 million Peruvians are eligible to vote, with polling stations across the country opening at 7am (12:00 GMT) and closing at 5pm (22:00 GMT). Preliminary results are expected shortly afterwards.The presidential ballot features 35 candidates, including a comedian, a media baron, a political dynasty heiress, and a hard-line ex-mayor. However, all major candidates continue to poll well below the 50 percent needed to win the election, making a June 7 run-off appear likely.The most well-known candidate is conservative Keiko Fujimori, who will make her fourth presidential bid. Her candidacy remains polarizing due to her family legacy, with her father, former President Alberto Fujimori, convicted of human rights abuses and corruption.Other notable candidates include Ricardo Belmont, a former mayor of Lima, and Carlos Alvarez, a popular comedian who has campaigned on a platform of being tough on crime. Peru's homicide rate has more than doubled in the past decade, making crime a major concern for voters.Many Peruvians, however, remain disillusioned with the political system and the available candidates. A fruit seller in Lima told the Reuters news agency that she was still undecided on who to vote for, saying "Peru is a mess, and there's no candidate worth voting for." A clothing merchant also shared similar sentiments, stating "We've been governed by nothing but corrupt, thieving scoundrels."

Benin is voting in its presidential election, with long-serving Finance Minister Romuald Wadagni poised to win in the absence of a major challenger. Polls opened at 7am (06:00 GMT) on Sunday and will close at 4pm (15:00 GMT).More than 7.9 million people are registered to vote, including 62,000 in the diaspora. Wadagni, a 49-year-old former Deloitte executive, is backed by the two main parties in the governing coalition and the outgoing president, Patrice Talon.Wadagni is being challenged by Paul Hounkpe, an opposition figure and former culture minister, whose campaign has been low-key. The new president will have to address major challenges, including a huge gap between the poor and well-off, with the poverty rate estimated at more than 30 percent.Benin’s economic growth will also depend on improving security and stabilising the country, particularly in the north where JNIM, an al-Qaeda affiliate, has made major gains. Wadagni has promised to deliver on bread-and-butter issues like expanding access to potable water and guaranteeing emergency healthcare.Provisional results are expected on Tuesday, with many people expressing concerns about the election process. Some voters have spoken of the presidential election as a formality and urged Wadagni to deliver on his platform, including promoting job opportunities for young people and improving security in the north.

Hungarians are casting their votes in a parliamentary election that could mark a significant shift in the country's political landscape. Incumbent Prime Minister Viktor Orban, a eurosceptic nationalist, is facing his biggest electoral challenge after 16 years in power.The election for the 199-seat parliament began at 6am local time (0400 GMT) and is set to close at 7 pm (0500 GMT). Opinion polls over the last two weeks have shown Orban's Fidesz party trailing Peter Magyar's upstart centre-right opposition Tisza party by 7-9 percentage points, with Tisza at around 38-41 percent.Orban has framed the election as a choice between 'war and peace', warning that Tisza's victory could drag Hungary into Russia's war with Ukraine. However, many Hungarians have grown weary of Orban's 16-year rule, citing economic stagnation, soaring living costs, and reports of oligarchs close to the government accumulating wealth.A 24-year-old Budapest resident, Kriszta Tokes, expressed her concerns, stating, 'I am very excited but also very scared... I know that my future depends on this.' She added that she plans to leave Hungary if Orban wins.Despite the challenges, Orban remains optimistic, telling supporters in his birthplace Szekesfehervar, 'If we know ourselves well, if we know our country well and if we know our own people well, then I must say Hungarians will vote for safety on Sunday.'