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Oil prices jumped back above $100 a barrel and global stocks fell after weekend talks between the US and Iran ended without an agreement and Donald Trump imposed a blockade of the Strait of Hormuz. The US president announced the blockade on Sunday, targeting Iranian vessels and ships that have paid a toll to Iran for passage through the strait, in an attempt to choke off the flow of Iranian oil.US Central Command said it would start at 10am ET (5.30pm in Iran and 3pm in the UK), blocking all Iranian Gulf ports and coastal areas, in effect seizing control of maritime traffic in the Strait of Hormuz. The news drove oil and gas prices sharply higher again, after the two-week ceasefire between the US and Iran announced on Wednesday prompted a sharp fall in energy prices, and crude ended the week below the psychological $100 a barrel threshold.Brent crude rose by nearly 7% to $101.74 a barrel on Monday morning, while US crude is up more than 8% to $104.69 a barrel. Gas prices also increased, with the British wholesale gas contract for May soaring by 11.7% to 122.5p a therm. Analysts at JPMorgan Chase said last week they expected oil prices to stay high in the second quarter, above $100 a barrel, before easing in the second half of the year.Most Asian stock markets fell on Monday, with Japan’s Nikkei down 0.7% and Hong Kong’s Hang Seng index losing 1%, while Chinese stocks rose slightly. Sentiment was helped by Beijing’s announcement of a 10-initiative strategy aimed at deepening ties with Taiwan. European stocks also fell, led by airlines including Lufthansa, Wizz Air, easyJet and British Airways parent IAG. The FTSE 100 index in London lost 0.4%, dropping 45 points to 10,555. Germany’s Dax fell 1%, Italy’s FTSE MiB slipped 0.7% and Spain’s Ibex was down 1.1%. With oil and gas prices rising sharply higher, energy companies such as BP and Shell are rallying.Priyanka Sachdeva, senior market analyst at the broker Phillip Nova, said: “In today’s environment, every barrel of risk added to oil markets carries an inflation price tag for the global economy.” She added: “The market reaction underscores a simple but powerful reality: Hormuz risk is not theoretical; it is structural, and it is real.”Interest rate expectations have shifted again; investors now see an 84% chance of two rate increases from the Bank of England this year to tackle rising inflation, up from 60% on Friday. Before the Iran war, the central bank was expected to cut rates. The price of gold fell 0.4% to $4,730.75 an ounce as the blockade fuelled inflation concerns, prompting traders to scale back expectations for Federal Reserve rate cuts this year.

The ongoing US-Israel war on Iran has taken a critical turn with Donald Trump's announcement that the US Navy would start blockading the Strait of Hormuz. This strategic waterway is crucial for global oil shipments, and any disruption could have significant economic impacts. In response, Iran's Revolutionary Guard warned that approaching military vessels to the strait would be considered a violation of the ceasefire. This development has led to a surge in oil prices, with US crude oil rising 8% to $104.24 a barrel and Brent crude oil increasing 7% to $102.29. The blockade, set to begin on Monday morning, will be implemented by US Central Command (Centcom) and will affect all maritime traffic entering and exiting Iranian ports. This move is part of a broader strategy that may include resuming limited military strikes in Iran, according to reports. The situation has drawn international attention, with Australian Prime Minister Anthony Albanese stating that his government has not been asked to participate in the blockade and is keen on continuing negotiations between the US and Iran. Meanwhile, Iranian parliamentary speaker Mohammad Bagher Ghalibaf dismissed Trump's threats, asserting that they would have no effect on the Iranian nation.

The US has announced plans to blockade the Strait of Hormuz, a vital waterway through which about 20% of global oil passes. This move comes after ceasefire talks with Iran ended without an agreement over the weekend. The blockade, threatened by President Donald Trump, aims to pressure Iran into reopening the strait, which has been effectively closed since February 28. Trump's announcement on social media stated that the US Navy will begin the process of blockading any and all ships trying to enter or leave the Strait of Hormuz. He accused Iran of 'WORLD EXTORTION' and threatened that any person who attacked US vessels would be 'BLOWN TO HELL!' However, the blockade's scope appears to have been scaled down, with US Central Command (Centcom) stating it would be confined to vessels transiting through Iranian ports, permitting passage of ships headed to ports belonging to America's Gulf allies. The blockade is set to come into effect at 10am ET (2pm GMT). The UK will not be involved in any blockade of the strait, and Australian Prime Minister Anthony Albanese has stated that his country was not asked to participate. Oil prices have surged following Trump's announcement, with US crude increasing 8% to $104.24 a barrel and Brent crude oil rising 7% to $102.29. Experts warn that the blockade could lead to higher oil prices, but much depends on its 'scope and implementation.' The managing director of research at ClearView Energy Partners, Kevin Book, noted that leaner volumes generally mean tighter markets and higher prices. Iranian and/or Houthi reprisals against Gulf producers' alternative routes could drive prices still higher. The blockade could cut off one of the Iranian regime's major sources of funding but might also have a short-term negative effect on global prices. About 100 tankers have transited the strait since the US and Israel started bombing Iran, most carrying Iranian oil products bound for China and India. Iran's Revolutionary Guards have stated that any warships approaching the strait to enforce a blockade would be considered in breach of the current ceasefire and would be dealt with strongly. Trump floated the possibility of a resumption of US strikes inside Iran, citing missile factories as one possible target.

Day 44 of the US‑Iran war ended without a peace deal as a marathon 21‑hour session in Islamabad collapsed, jeopardising the fragile cease‑fire that has held since the conflict began over six weeks ago.Vice President JD Vance, leading the US delegation, told reporters that the lack of an agreement was "bad news for Iran much more than it’s bad news for the United States of America," before departing Pakistan.Pakistan’s Foreign Minister Ishaq Dar pledged that Islamabad would continue to facilitate dialogue between the two longtime adversaries.In Iran, officials downplayed expectations, noting that no one anticipated a settlement in a single session. State‑run IRIB quoted ministry spokesperson Esmaeil Baghaei saying the talks were never expected to conclude quickly. Meanwhile, Tehran residents expressed a mix of scepticism and hope after weeks of air attacks that have left a nation of 93 million people reeling; more than 2,000 Iranians have been killed in the US‑Israel‑Iran conflict.In the United States, Vance reiterated that the delegation left with a "final and best offer" for Iran, emphasizing that Washington had communicated its position repeatedly during the talks. He cited multiple conversations with President Donald Trump, Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, and Central Command head Brad Cooper. Trump, however, maintained that the US had already "won" on the battlefield by eliminating Iranian leaders and key infrastructure, stating that a deal would not alter the outcome.The US military reported that two destroyers transited the Strait of Hormuz ahead of planned mine‑clearing operations – a first since hostilities began – though Iran’s state media claimed the joint command denied the movement.Academic David Des Roches of the Thayer Marshall Institute told Al Jazeera that while Washington clarified its stance, it did not shift its core demand: preventing Iran from acquiring a nuclear weapon.In Lebanon, Israel continued strikes, claiming to have hit a "loaded and ready‑to‑launch rocket launcher" in Jouaiya, southern Lebanon. Protests have erupted in Beirut against any direct Israel‑Lebanon negotiations. The Lebanese Ministry of Public Health reported at least 2,020 deaths and 6,436 injuries from Israeli attacks since March 2.In Israel, Channel 12 reported that a drone launched from Lebanon triggered sirens in the Upper Galilee before being intercepted.The stalemate has kept global oil and gas prices soaring, underscoring the broader economic ripple effects of a war that shows no sign of abating.

Israeli airstrikes across southern Lebanon have killed at least 18 people, including eight civilians in a village near Sidon and ten victims – among them three emergency workers – in the Nabatieh district, according to Lebanon’s Health Ministry. The ministry’s latest figures show the conflict, which erupted on March 2 after Hezbollah fired rockets in support of Iran, has now claimed 2,020 lives and wounded 6,436 since Lebanon was drawn into the U.S.–Israel war on Iran. In a separate incident, two Israeli paratroopers were wounded by shrapnel during clashes with Hezbollah forces in the south, as reported by Israel’s Channel 13. Amid the escalating violence, President Joseph Aoun announced that Lebanese, Israeli and U.S. officials will convene in Washington next week to discuss a ceasefire and the framework for future negotiations under U.S. auspices. Hezbollah, however, has reiterated its refusal to engage in direct talks with Israel, labeling the proposed negotiations a “blatant violation of the national pact, the constitution and Lebanese law,” according to lawmaker Hassan Fadlallah. Pro‑Hezbollah demonstrators gathered near the government headquarters in central Beirut, waving the group’s yellow flag and the Iranian standard, to protest the planned talks. Hezbollah and its ally, the Amal Movement, later urged supporters to refrain from further demonstrations, citing the need for stability and civil peace. Israeli Prime Minister Benjamin Netanyahu emphasized that any peace settlement must be lasting and called for the disarmament of Hezbollah, underscoring the deep strategic divide. While the United States and Iran announced a tentative ceasefire this week, the agreement’s applicability to Israel’s campaign in Lebanon remains uncertain. Iranian officials claim they secured a U.S. assurance that Israel will reduce attacks on Lebanon, but no confirmation has been received from Israeli authorities regarding a ceasefire or a reduction in hostilities. These diplomatic efforts coincide with historic in‑person ceasefire talks between the U.S. and Iran in Islamabad, Pakistan, highlighting the broader regional stakes of the Lebanon‑Israel conflict.

President Donald Trump declared that the United States will commence a naval blockade of the strategic Strait of Hormuz in response to the breakdown of peace talks between Washington and Tehran held in Islamabad.In addition to the blockade, Trump warned that American forces could target Iran’s water‑treatment plants, power stations and bridges unless Tehran abandons its pursuit of a nuclear weapons capability.The announcement came after a 21‑hour round of direct negotiations between the two sides collapsed on Sunday morning, ending a brief cease‑fire that had been brokered by the United States, Israel and Iran.U.S. Vice‑President JD Vance, who led the American delegation, said Iran refused to renounce the possibility of developing nuclear weapons, while Iranian officials accused Washington of failing to earn their trust.Trump instructed the U.S. Navy to begin “blockading any and all ships trying to enter or leave the Strait of Hormuz” starting Monday at 10 a.m. ET (14:00 GMT). He also accused Iran of “extortion” for charging tolls to tankers and announced a de‑mining operation in the waterway’s central sector, although the exact number of mines remains unclear.The Iranian Revolutionary Guard warned that any warships enforcing the blockade would be deemed a breach of the cease‑fire and would be met with a strong response, insisting the strait remains under Iranian control.Two U.S. destroyers transited the strait on Saturday without incident, a move the Pentagon described as the start of a mine‑clearance mission, even as Iranian media claimed the vessels were threatened as they departed.Financial markets reacted sharply: U.S. crude oil jumped 8% to $104.24 per barrel and Brent crude rose 7% to $102.29, reflecting concerns that the blockade could disrupt the flow of roughly 100 tankers that have been paying up to $2 million each for passage.Vance reiterated that the United States seeks a clear, affirmative commitment from Iran not to pursue a nuclear weapon, describing it as the “core goal of the president.”Iranian parliament speaker Mohammad Bagher Ghalibaf argued that Tehran offered “constructive initiatives,” but U.S. demands were “excessive” and hindered an agreement, according to the semi‑official Tasnim news agency.Pakistani mediators urged both parties to avoid renewed hostilities and pledged to arrange fresh talks, emphasizing the importance of upholding the existing cease‑fire.In a televised interview, Trump warned that if a deal cannot be reached, the United States may resume bombing Iran, specifically targeting its water‑supply infrastructure, desalination plants and power generation facilities.Regional fallout continued: at least 11 people were killed in southern Lebanon amid a series of Israeli strikes, while Pope Francis called for an immediate cease‑fire, expressing solidarity with the Lebanese people.The broader conflict, now six weeks old, has claimed more than 3,000 lives in Iran, over 2,000 in Lebanon, dozens in Israel and several Gulf states, and has inflicted extensive damage on critical infrastructure across the Middle East.

Since the outbreak of the Iran conflict in February, European car shoppers have turned sharply toward electric vehicles (EVs), spurred by a rapid climb in petrol costs that has made plug‑in power appear markedly cheaper. Major online marketplaces report a pronounced uptick in EV interest. Germany’s leading platform, Mobile.de, recorded a greater‑than‑50% increase in electric‑car inquiries in March compared with February, while demand for petrol and diesel models fell during the same period. Hybrid queries edged up only 4%. In the United Kingdom, Spain and Germany, the buyer‑matching service Carwow logged 20%‑30% growth in EV inquiries between February and March, with the UK alone seeing a 23% rise in electric demand and a 19% jump for hybrids. French marketplace La Centrale observed a staggering 160% surge in EV searches from early March to early April, underscoring how sensitive drivers are to energy‑price volatility. AutoScout24, operating across Germany, Austria and Italy, noted that demand for electric cars climbed by roughly 40%, while interest in petrol and diesel vehicles remained flat or declined. Official registration data reinforce the trend. The Society of Motor Manufacturers and Traders (SMMT) reported that March battery‑electric registrations hit 86,120 units—a 24.2% year‑on‑year increase** and a record high for the month. Industry insiders attribute the shift to a combination of soaring fuel costs and supportive policy measures. In Germany, diesel prices have reached **€2.50 per litre**, and the government’s **€6,000 purchase subsidy** for electric cars further narrows the cost gap. "What the German energy transition couldn’t achieve, the economic reality has delivered," said Ajay Bhatia, CEO of Mobile.de, highlighting how market forces are now driving the zero‑emission push. Volkswagen’s ID.3 emerged as the most popular battery model, benefitting from both the subsidy and heightened consumer awareness. Nevertheless, experts caution that the surge may be partly transitory. Mobile.de’s Bhatia predicts the spike will settle at "a new, higher normal," while Autotrader’s Ian Plummer notes that previous fuel‑price spikes did not translate into lasting EV adoption, emphasizing the need for continued confidence in vehicle range and charging infrastructure. Guillaume‑Henri Blanchet of La Centrale added that the crisis has given many drivers their first real sense of total‑cost‑of‑ownership, making them more willing to accept higher upfront prices for lower long‑term operating costs. As Europe grapples with the dual pressures of geopolitical tension and energy inflation, the automotive market appears poised for a structural shift toward electrification, though the durability of this momentum remains to be fully seen.

The collapse of talks between the US and Iran has sent shockwaves through global markets, fuelling fears of a prolonged energy crisis and rising inflation. The failure to reach a peace deal has left large numbers of oil tankers stuck in the Persian Gulf, with oil prices fluctuating wildly in response to the uncertainty.US Vice-President JD Vance has blamed the collapse of the talks on Tehran's refusal to abandon its nuclear weapons programme, while Iranian sources have hit back at what they describe as 'excessive' demands from Washington. The stalemate has raised concerns about the long-term impact on the global economy, with governments and central banks warning of higher inflation and interest rates.Mohamed El-Erian, an adviser to Allianz, has cautioned that uncertainty will continue to dominate assessments of the financial impact from the conflict. 'Absent a swift resumption of negotiations, the immediate reaction of financial markets when they open for the trading week will be to push oil prices higher and borrowing costs higher,' he said.The International Monetary Fund and World Bank's spring meetings in Washington will focus on the war's impact on the global economy, with the IMF's managing director, Kristalina Georgieva, indicating that the fund will present three scenarios predicting lower economic growth and higher inflation. The IMF is also expected to highlight the impact on vulnerable economies.In the short term, oil prices have ended the week lower, with Brent crude at $94.26 a barrel and West Texas Intermediate crude at $95.63 a barrel. However, global stock markets have rebounded after a temporary ceasefire was announced, with the S&P; 500 close to its level before the US-Israeli attacks on Iran began.

The world's finance ministers and central bank governors are gathering in Washington for the half-yearly meetings of the International Monetary Fund and the World Bank, with the global economy in a perilous spot. The US-Israeli war on Iran, coming soon after the Covid pandemic and Russia's invasion of Ukraine, has triggered significant economic turbulence.Even if a durable peace deal in the Middle East can be reached, there will still be permanent economic scars. The conflict has caused damage to infrastructure, heaping further pressure on already struggling households. This is the biggest energy shock of the modern age, with oil and gas prices surging, inflation rising, and borrowing costs increasing.The IMF has said it will cut its growth forecasts for 2026 when it publishes its flagship world economic outlook. In every scenario, growth is slower and inflation higher. Households worldwide will feel the pain, with the world's poorest bearing the brunt.The fund's managing director, Kristalina Georgieva, has urged officials to work together, warning that "go-it-alone actions" may have appeal but would ultimately make matters worse. The IMF cautions that any energy support should be targeted and temporary to limit the costs of blanket support and avoid stoking inequality.For central banks, the fund urges them to remain vigilant, with financial markets expecting interest rates to be kept on hold or raised to prevent high inflation from becoming entrenched. The economic problems are interlinked with political instability, making it a challenging situation for governments worldwide.