An aide warned the PM that appointing Peter Mandelson to a Washington post posed reputational risk, after a short vetting file flagged past links to Jeffrey Epstein. The process was seen as rushed. Supporters cite his experience; critics question transparency and due diligence.

Washington signalled imminent, far more intense military action against Iran, even as the US president hinted an end could be near. Oil prices whipsawed after a false report of tanker escorts. Aramco warned a prolonged conflict would be catastrophic, while Tehran urged ships to avoid the Strait of Hormuz.

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.

The US and Israel have intensified military operations against Iran, triggering responses across the Gulf. Some producers have cut or halted output, pushing crude towards $100 and raising shipping risks. Markets brace for further disruption as regional partners seek to contain tensions.