The war in the Middle East has helped to trigger a surge in air fares, with the lowest-priced economy tickets costing 24% more on average than they did a year ago, according to new research. The report, from the consultancy Teneo, says that airspace restrictions caused by the conflict have forced airlines to reroute many […]
The boss of the world’s biggest condom maker, Karex, says the firm will raise its prices by up to 30% or possibly more if the Iran war continues to disrupt supplies of the raw materials used in its products. Karex’s chief executive, Goh Miah Kiat, told media outlets that production costs have risen sharply since […]
Petrol theft has surged by 62% compared with a year ago, according to new figures compiled for the BBC, with one forecourt owner saying drive-offs are costing him £2,000 a week across his five sites. The data from fuel theft recovery company Pay My Fuel comes as petrol and diesel retailers say their staff have […]
Europe has “maybe six weeks of jet fuel left”, the head of the International Energy Agency (IEA) has warned. Stocks would reach a tipping point in June if Europe was unable to replace at least half of its imports from the Middle East, the organisation said in a report this week. The Strait of Hormuz, […]
As the United States warned of a “counter-blockade” in the Strait of Hormuz, some oil tankers have begun turning around again. According to data from the London Stock Exchange Group, LSEG, and shipping data firm Kpler, verified by Reuters on the 13th, a Malta-flagged very large crude carrier (VLCC) *Agios Fanourios I* attempted to enter […]
Conservatives are expressing outrage after Donald Trump posted an image portraying himself as Jesus Christ, forcing fractures among his evangelical base. After rebuking Pope Leo over the weekend following critical remarks that the President should be a ‘peacemaker’ amid the Iran war, Trump posted an AI-generated image of himself as Christ. The image shows Trump draped in white with […]
Disruption to shipping routes linked to the Iran war has left about eight million kilograms of tea stuck in warehouses in Kenya’s port city of Mombasa for weeks, threatening export earnings and farmer incomes, the head of the East Africa Tea Traders Association said. George Omuga, managing director of the association that runs the Mombasa […]
US President Donald Trump said the US will be done with its war in Iran “within maybe two weeks, maybe a couple of days longer to do the job. But we want to knock out every single thing they have.” Despite repeatedly listing four or five objectives for the war, Trump said he “had one […]
The US has authorised countries to buy sanctioned Russian oil and petroleum that is currently loaded on vessels at sea in an attempt to curb the economic impact of the US-Israel war with Iran. US Treasury Secretary Scott Bessent said it was a temporary measure to “promote stability in global energy markets” during the war. […]
Oil prices continued to rise on Thursday despite major countries agreeing to release a record amount of oil from their emergency reserves as they try to curb the impact of the Iran war. Brent crude rose by almost 9% to top $100 ($74.79) a barrel in Asia trading even after all 32 members of the International […]
Brent oil prices are set to trade above $95 a barrel over the next two months as the Iran war disrupts supplies, before falling to around $70 by the end of the year, the Energy Information Administration said on Tuesday in a monthly report. Oil shipments have been largely blocked from using the Strait of […]
