Iran closed the Strait of Hormuz, causing oil prices to spike amid ongoing Middle East tensions. Region's geopolitics keep global markets on edge.
The Middle East conflict has pushed up fuel, fertiliser and packaging costs, feeding higher food prices globally. Retailers warn inflation is likely to continue if the war persists, while farmers face rising input costs and potential production cuts.
Ryanair has said it is confident there will be no jet fuel shortages this summer, as it hedges most of its needs. It expects fares to be broadly flat for the peak season, with some pressure from late bookings. The airline reports a record annual profit and is negotiating a new contract for chief executive Michael O’Leary, with details to be announced in coming weeks.
BP has upgraded its first quarter oil trading guidance following a weak final quarter in 2025. The company reports increased volatility due to ongoing conflicts in the Middle East, with oil prices surging over 60% this year. BP expects flat upstream production and higher net debt, with results to be released on April 28.
Retail crime, rising energy costs, and geopolitical tensions are impacting UK retailers. Despite efforts to control prices, companies report increased costs and uncertain profits. The government is responding with police recruitment and legislation to address retail crime, while energy and supply chain issues continue to challenge the sector.
Estonian intelligence has warned that Russia is stockpiling ammunition for future conflicts. NATO members are under pressure to increase defense spending, with European allies emphasizing the need for greater military contributions. US and European officials affirm ongoing commitments despite political rhetoric and disagreements, focusing on strengthening alliance capabilities.
Russian oil exports have increased significantly in March, reaching $19 billion, driven by higher prices and port disruptions. Ukraine's strikes on Russian infrastructure aim to reduce Moscow's oil revenue, which is fueling its war efforts. Russia is responding by cutting output as damage accumulates at key ports.
The UK is expected to have sufficient gas supplies this summer despite disruptions caused by the Middle East conflict. Domestic production, imports from Norway, and LNG are expected to meet demand, with prices rising 50%. Ongoing debates focus on domestic drilling and energy security strategies.
A two-week ceasefire between the US, Israel, and Iran has paused six weeks of conflict. Despite claims of victory, Iran retains critical military capabilities, and regional tensions remain high. Disputes over scope and future negotiations highlight ongoing instability in the region.
Iran has closed the Strait of Hormuz following its brief reopening, escalating tensions in the Middle East. This move has caused oil prices to rise sharply and increased market uncertainty. Negotiations between the US and Iran are ongoing, but tensions remain high as Iran refuses to attend new talks.
Oil prices remain elevated amid ongoing Iran‑related disruption, while markets price in a potential ceasefire. Banks warn long‑run inflation could drift lower on AI‑driven disinflation, but near‑term pressures keep the Fed and other central banks in a tighter stance. Investors are reassessing energy supply risk and policy outlook.
ABF has announced plans to demerge Primark from its food operations by the end of 2027. The move aims to improve investor understanding and valuation of each business, amid challenging trading conditions and online competition. Both companies will join the FTSE 100, with Primark valued at around £9 billion.
The EU has approved a previously stalled €90bn loan for Ukraine after Kyiv has repaired the Druzhba oil pipeline and Hungary and Slovakia have dropped objections once Russian oil flows restarted. The decision has come together with a 20th EU sanctions package on Russia, and funds are expected to start moving in the coming weeks.
The Pentagon has outlined a plan to triple spending on drones and critical munitions to over $74 billion, amid low stockpiles during the Iran conflict. The 2027 budget also includes increased troop numbers and shipbuilding requests, reflecting a focus on modern warfare technology.
The UK new-car market has risen 24% in April to 149,247 registrations, with battery electric vehicles up 59.1% and BEVs accounting for 26.2% of sales. The overall BEV share for 2026 is forecast to fall short of the 33% mandate, as inflation, energy costs and living costs weigh on demand. The SMMT warns the price of compliance may curb consumer choice and decarbonisation.
Inflation has risen to 3.3% in March as fuel costs jump amid Middle East tensions. BoE is holding rates at 3.75% while weighing energy-price shocks and growth risks. NatWest reports first-quarter profit, while Santander completes TSB takeover; economists warn policy may tighten if energy shocks persist.
The Office for National Statistics has shown March inflation at 3.3%, driven by higher motor fuel prices and air travel costs. Analysts expect energy bills to rise later this year amid geopolitical tensions, while clothing costs have eased. Next month’s data may reflect changes in the energy price cap and further shifts in transport pricing.
Reckitt has indicated that sustained oil prices at $110 per barrel will lead to higher costs of around £130-150 million in 2026. The company reports modest revenue growth, impacted by global health trends and geopolitical conflicts, but maintains its full-year sales guidance despite profit margin pressures expected in the first half.
Lufthansa is canceling less profitable routes and concentrating on Frankfurt and Munich hubs to save jet fuel amid surging prices driven by the Middle East conflict. Airlines warn of limited summer visibility as fuel costs climb, with EU officials forecasting prolonged pressure on prices and supply.
US Treasury Secretary Bessent has announced that the US and allies in the Gulf and Asia are requesting currency swap lines to stabilize markets during the ongoing Middle East conflict. The US is considering extending swap facilities to countries like the UAE and Argentina to prevent disorderly asset sales and support energy markets. This follows recent support for Argentina and sanctions relief for Russian oil, with ongoing debates about the political implications of these moves. The story is current as of Thu, 23 Apr 2026.
The EU has formally approved a €90 billion loan for Ukraine and a 20th package of sanctions on Russia, after Hungary lifted its veto. The funds will cover two-thirds of Kyiv’s needs over 2026–2027, with ~€17 billion annually diverted to defense and general budget needs like health and education. The cycle aims to sustain Ukraine while pressuring Russia, with disbursement starting in coming months.
Dubai International Airport has seen a dramatic traffic rebound as airspace disruptions from regional conflict ease, with March passenger numbers recovering from earlier declines. Dubai Airports is expanding flight movements in line with available regional routing capacity.
Updated assessments show 7.8 million South Sudan residents, 1.24 million in Lebanon, and rising numbers in DRC, Yemen, and Gaza facing high to extreme hunger. Conflict, climate shocks, displacement, and funding shortfalls are driving a widening global food-security crisis with famine feared in several areas.
Iran's foreign minister Abbas Araghchi has arrived in Islamabad this week to convey Tehran's proposals to Pakistani mediators; the Iranians have said they will not hold direct talks with US envoys. The White House has planned to send Steve Witkoff and Jared Kushner to Pakistan, but Washington has withdrawn some security staff and Trump has publicly paused the envoys' visit while saying Iran sent an improved proposal.
Trump has claimed he has passed a cognitive assessment, while allies and opponents accuse him of political manoeuvring as criticism of his health and approach to foreign policy intensifies across conservative circles and media figures.
Global military spending has reached a historic high, topping $2.89 trillion in 2025. The United States, China and Russia lead the spenders, while Europe and Asia show the strongest growth. U.S. expenditure has fallen slightly in 2025 but is expected to rise again in 2026, with European and Asian budgets expanding amid ongoing conflicts and tensions.
Global fertiliser trade remains under pressure as the Strait of Hormuz disruption continues to affect urea, ammonia and sulphur shipments. With several regions facing rising costs and tighter supplies, farmers face higher input prices and potential yield impacts in the coming seasons.
King Charles has completed a four-day state visit to the United States, delivering a speech to a joint meeting of Congress that has praised US–UK ties, urged "unyielding resolve" for Ukraine and pushed back on NATO and climate scepticism. He has held private talks and formal events with President Donald Trump and attended a White House state dinner.
Compass has published six-month results showing revenue up 9% at constant currencies, reaching $25 billion, with operating profit rising 12%. The group highlights new contracts worth $4.1 billion and says AI-enabled services are driving client demand for outsourced catering amid regulatory and data-driven needs.
The National Institute of Economic and Social Research warns that the Middle East crisis has already slowed UK growth and could push the economy into a recession this year, with inflation rising on energy shocks and the Bank of England expected to respond with rate hikes.
UK firms are grappling with higher energy costs and tax increases amid ongoing Middle East conflict disruptions. The latest BTG Red Flag Alert shows a 36.9% year-on-year rise in companies in critical financial distress in Q1 2026, with hotels, leisure and discretionary sectors hardest hit while some UK-based holidays could benefit from travel disruption overseas.
UK households are cutting back on fuel, food and non-essential spending amid rising costs from the Middle East energy shock. Mortgage activity has risen as households lock in rates, while businesses pause big investments; confidence remains fragile and policy action is urged to ease cost-of-living pressures.
The CMA reports fuel margins have remained broadly steady since late February, with March showing margins near last year’s high levels. While some retailers have seen elevated margins, the watchdog says the overall picture is consistent with ongoing pressure from Middle East turmoil on wholesale costs. The RAC Foundation estimates drivers have shouldered substantial extra costs across petrol and diesel since the conflict began.
The White House has laid out its rationale as the 60-day War Powers deadline approaches, arguing a ceasefire with Iran effectively stops the clock. Democrats and some Republicans are pushing for a wind-down or congressional authorization, while lawmakers brace for a possible battleground on Capitol Hill ahead of midterm elections.
The UN and aid groups warn that more than 21 million people in Sudan face acute hunger after 1,000 days of conflict, with funding shortfalls risking the suspension of food and nutrition programmes and possibly famine in parts of the country.
Vice President JD Vance is on a high-profile tour in Iowa, linking economic messaging with support for Republican candidates. The trip follows a string of public missteps and signals potential presidential ambitions, while party dynamics and polling underline a tense path toward 2028.
Oil prices are lifting inflation pressures while central banks hold rates at current levels. Recent data show jobs strength and firmer services costs, prompting caution on policy paths amid war-linked supply disruption.
A raft of energy deals and investments across utilities, generation and storage are reshaping the UK’s energy transition. Centrica has acquired the Severn gas turbine plant, while E.ON is pursuing a takeover of Ovo; United Utilities has unveiled a major investment plan, and battery storage assets continue to change hands as developers seek scale and grid readiness.
Israel has instructed legal advisers to consider the "harshest legal action" against The New York Times and columnist Nicholas Kristof after a Times opinion piece published allegations that Israeli forces have committed widespread sexual violence against Palestinians. The Times has defended Kristof; Israel is calling the essay a "blood libel."
Vistry has warned investors profits will be “significantly” lower in the first half due to heightened uncertainty from the US–Israel war on Iran, with materials costs and wages rising. The group is rolling out an operational review under new chief executive Adam Daniels and pausing share buybacks to prioritise debt reduction. Other sector players warn of a cautious housing market.
Export growth across Scotland is being driven by mid‑market industrial and manufacturing firms, with energy, subsea services, engineering and food supply chains posting strong international sales. The latest Export 100 rankings show firms expanding through global demand and long‑term contracts, not domestic expansion, while defence and aerospace are among the advanced markets seen.
A drone has struck an electrical generator outside the Barakah Nuclear Power Plant in Abu Dhabi’s Al Dhafra area. UAE authorities say no injuries and no radiological impact, with investigations ongoing. Iran-linked groups are cited as potential sources, and international bodies have urged restraint.