G7 ministers signalled readiness to tap strategic oil reserves through the IEA after crude briefly topped $100, aiming to steady supply, tame inflation and support growth. Markets wobbled as traders priced in stickier inflation, intensifying political pressure over fuel costs.
Rachel Reeves warns households face higher bills as Middle East tensions push up oil and gas prices, threatening a renewed inflation spike. She urges rapid de-escalation, keeps the fuel duty freeze, orders scrutiny of pump prices, and says the Treasury is ready to act if pressures persist.
With pump prices forecast to approach £2 a litre amid Middle East instability, the Chancellor faces pressure to freeze fuel duty. Rachel Reeves has rejected calls to cancel a planned rise, saying her fiscal plans remain, despite warnings of a squeeze on motorists and inflation.
Oil prices have surged after supply disruptions at refineries. The AA urges motorists to cut journeys and drive smoothly to save fuel, recommending proper tyre pressures, steady acceleration and car‑sharing or public transport. Pump prices are expected to rise in the short term.
Tony Blair urged the UK to side with Donald Trump on Iran, saying Starmer should have joined a US‑led operation. Labour figures condemned the intervention, citing his Iraq record. Analysts warn disruption near the Strait of Hormuz could raise UK energy bills.
Iran is poised to elevate Mojtaba Khamenei, the Supreme Leader’s son, tightening control and shaping succession. The move may strain ties with Washington and unsettle oil markets already on edge after a fuel‑depot incident in Tehran.
After a public rift, the PM held a conciliatory call with the US President to steady the special relationship. They discussed defence cooperation in the Middle East, the PM offered condolences over recent deaths, and both sides agreed to keep channels open.
Clerics have chosen Mojtaba Khamenei as Iran’s new supreme leader after his father’s death, signalling a harder line. The move challenges Trump and could stiffen positions on sanctions, nuclear talks and regional policy.
Donald Trump accuses the PM of undermining the UK-US special relationship by delaying permission for US use of UK bases amid the Iran crisis. Critics call the response a dereliction of duty, while No 10 says ties remain strong and diplomatic work continues.
Easter getaways face disruption as Middle East tensions prompt airspace restrictions and flight cancellations to Cyprus, Dubai and beyond. Officials warn issues could last weeks or months, with higher fuel costs, rerouted flights and reduced schedules. Travellers urged to check with airlines.