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Oil prices experienced a significant surge, rising more than $5, after President Donald Trump stated that the United States would continue its military operations against Iran. This development has heightened investor concerns about potential sustained disruptions to global oil supplies.Brent crude futures saw a notable increase, rising $6.33, or 6.3%, to $107.49 per barrel early on Thursday. Similarly, US West Texas Intermediate crude futures were up $5.28, or 5.3%, to $105.40 per barrel. These gains followed an earlier decline of more than $1 in both benchmarks prior to Trump's televised address to the nation.The recent escalation in tensions between the US and Iran has led to the closure of the Strait of Hormuz by Iran, in retaliation for the US-Israeli attacks. This strategic move has disrupted approximately one-fifth of global oil and liquefied natural gas (LNG) supplies, precipitating the world's most significant energy crisis in decades.Trump emphasized that the US military is nearing its objectives in the conflict, which he expects to conclude within two to three weeks. His remarks have contributed to increased uncertainty in financial markets.Asian stocks were severely impacted following Trump's speech. Most Southeast Asian countries, which heavily rely on oil imports, are particularly vulnerable to the sharp rise in oil prices triggered by the Middle East conflict. The MSCI gauge of EM Asia equities experienced a 2.3% decline, while regional currencies weakened by 0.2%.Notably, South Korea's main stock market, the Korea Composite Stock Price Index (KOSPI), plummeted by 4.2% after initially gaining nearly 2%. South Korean President Lee Jae Myung urged parliament to promptly pass a 26.2 trillion won ($17.3bn) supplementary budget to bolster the economy during what he described as the worst energy security threat caused by the Middle East crisis.Other Asian markets also saw significant declines, with Singapore's main stock market, the Singapore Exchange (SGX), slipping 0.8%, and Malaysia's benchmark index falling 1%. Markets in Indonesia and Taiwan declined by about 1% and 1.4%, respectively. Stocks in China and Hong Kong also fell, with the benchmark Shanghai Composite index dropping 0.53% and China's blue-chip CSI300 Index losing 0.74%.

Ramesh Kumar, a 42‑year‑old wheat farmer in Gurdaspur, Punjab, India, is already recalculating his budget as fertiliser prices climb and deliveries become erratic.He worries that higher input costs could force him to postpone his daughter’s wedding, delay school fees for his children, or even cut back on the amount of fertiliser he applies – a decision that could lower his harvest.While the conflict between the United States, Israel and Iran unfolds thousands of kilometres away, its ripple effects are felt in the fields of Punjab, Kashmir, Pakistan’s South Punjab, Bangladesh’s Rangpur and Nepal’s Gulmi district.The Strait of Hormuz, a narrow chokepoint linking Gulf oil and gas producers to global markets, handles roughly one‑fifth of the world’s oil and LNG shipments. Disruptions here delay the flow of natural gas used to produce nitrogen‑based fertilisers, inflating freight, insurance and ultimately fertiliser prices.South Asia, home to nearly two billion people, depends heavily on fertiliser‑intensive agriculture. In India, the sector is worth about $400 billion and employs over 46 % of the workforce; in Pakistan, it contributes close to 20 % of GDP; Bangladesh’s agriculture accounts for 12‑13 % of GDP; and Nepal relies on agriculture for roughly 24 % of its economy.Between 30 % and 35 % of India’s fertiliser imports, and up to 25‑30 % of Pakistan’s, Bangladesh’s, and Nepal’s imports, travel through routes that pass the Strait of Hormuz. Any prolonged blockage could therefore strain supply chains across the region.Governments are attempting to reassure farmers. Indian Prime Minister Narendra Modi announced expanded domestic production of urea, DAP and NPK, as well as the rollout of “Made‑in‑India Nano Urea” and solar‑powered irrigation under the PM Kusum scheme.Pakistan’s federal secretary for agriculture highlighted proactive monitoring, increased domestic urea and DAP output, and measures to keep fertiliser affordable.Bangladesh plans to import 500,000 tonnes of urea in the short term and is exploring alternative sources from China and Morocco, while Nepal’s agriculture ministry says supplies for the upcoming rainy season are secured, though it warns of possible shipment delays.On the ground, farmers are already adjusting. In Kashmir, mustard grower Ghulam Rasool says he reduces fertiliser use as soon as price signals rise, even before actual shortages appear. In Pakistan’s South Punjab, wheat farmer Muneer Ahmad fears higher costs will affect the entire community. In Bangladesh, Mohammad Ibrahim notes that fertiliser availability is becoming unpredictable, and in Nepal, Meghnath Aryal worries that delayed deliveries will hurt crop yields.These individual decisions have broader implications. Reduced fertiliser application can lower yields, which in turn pushes up food prices—a critical concern in a region where households allocate a large share of income to food.While no immediate shortage has been declared, the combination of higher global energy prices, logistical bottlenecks and geopolitical risk makes the situation volatile. Authorities in all four countries are urging farmers to supplement chemical inputs with organic alternatives such as manure, compost and green manuring.For Ramesh Kumar and millions of his peers, the distant Gulf crisis is not an abstract geopolitical story; it is a daily calculation of whether they can afford to feed their families and meet essential expenses.

New research by Cleanview and a subsequent confirmation from Google reveal that the tech giant is collaborating with Crusade Energy to develop a 933‑megawatt natural‑gas power plant in the sparsely populated Armstrong County of the Texas panhandle. The facility will serve the Goodnight AI‑focused datacenter campus, signaling a notable departure from Google’s long‑standing clean‑energy narrative.The plant, slated for off‑grid operation, is intended to power at least two buildings on the Goodnight site. Satellite imagery commissioned by Cleanview shows construction already under way, following a permit application filed in January.According to the 465‑page permit filing, the plant could emit as much as 4.5 million tons of carbon dioxide per year—roughly the same amount released annually by the entire city of San Francisco. This emission level underscores the environmental stakes of the project.Cleanview founder Michael Thomas described the venture as “one of the first direct investments in fossil‑fuel infrastructure” he has seen from Google, suggesting a strategic pivot away from the company’s historic climate leadership.When queried, Google spokesperson Chrissy Moy did not deny the partnership but clarified that “we don’t have a contract in place for the plant in Texas.” She noted that negotiations are ongoing and pointed to a separate wind‑farm partnership with Serena Energy in the region. Crusoe Energy declined to comment.The Texas project is Google’s third known involvement with gas‑fuel facilities in recent months. Earlier in October, the company announced an agreement to purchase power from a gas plant in Illinois, and documents obtained in May revealed exploratory talks on a large‑scale gas project in Nebraska.Despite the shift, Google maintains that natural gas does not conflict with its climate objectives. The firm argues it is moving from a strategy of buying carbon credits to one of “building the grid” to secure carbon‑free energy for its operations.At a recent energy conference in Houston, Google’s head of advanced energy, Michael Terrell, declined to elaborate on how natural gas aligns with the company’s sustainability roadmap.From carbon‑free promises to “climate moonshots”Google has long positioned itself as a climate leader, setting a 2020 goal to achieve net‑zero carbon emissions across all operations by 2030 and investing heavily in wind, solar, geothermal and nuclear projects. However, the rapid expansion of AI workloads has strained those commitments.The 2023 sustainability report noted that Google was no longer “maintaining operational carbon neutrality,” and a 2024 update reported a 48 % rise in greenhouse‑gas emissions since 2019, driven largely by datacenter energy demand.By 2025, the company reframed its emissions targets as “climate moonshots,” acknowledging the growing complexity of meeting its 2030 ambitions amid AI‑driven uncertainties.Google is not alone in this trend. Competitors such as Meta, Amazon and Microsoft have also turned to natural‑gas‑powered facilities to meet the soaring energy needs of their AI infrastructures, highlighting a broader industry tension between rapid AI deployment and climate pledges.Thomas of Cleanview summed up the situation: “The race to build AI is creating a new tension with climate goals that these hyperscalers have long championed.”

The United Kingdom is set to convene a virtual meeting of 35 countries to assess measures to reopen the Strait of Hormuz, a critical Gulf waterway that has been effectively closed due to the US-Israeli war on Iran. British Prime Minister Keir Starmer announced that UK Foreign Minister Yvette Cooper would host the meeting on Thursday.The meeting aims to “assess all viable diplomatic and political measures that we can take to restore freedom of navigation, guarantee the safety of trapped ships and seafarers and resume the movement of vital commodities”, according to Starmer.Countries around the world have raised serious concerns about Iran’s effective closure of the strait, through which about one-fifth of the world’s oil and liquified natural gas supplies transit. The closure has sent global energy prices soaring and pushed nations to announce that they would release some of their strategic oil and gas reserves in an effort to lessen the crisis.Starmer emphasized that reopening the strait “will not be easy” and that countries that recently signed a statement saying they were ready “to contribute to appropriate efforts to ensure safe passage through the Strait of Hormuz” would take part in this week’s talks.In addition to the UK, France, Germany, Italy, Japan, and the Netherlands are among the countries to have signed it. The UK and other European countries have faced condemnation from US President Donald Trump, who has accused them of both failing to take action to reopen the strait and not providing sufficient support to Washington in its war effort.

Iran has strongly denied US President Donald Trump's claim that the Iranian president has requested a ceasefire amid the ongoing conflict with the United States and Israel. A senior Iranian official stated that there has been no such request, contradicting Trump's post on social media.According to Al Jazeera's Ali Hashem, reporting from Tehran, the Iranian government is refuting Trump's claim, stating that they have not asked for any ceasefire. This development occurs as the US and Israel continue their military actions against Iran, leading to soaring global energy prices and widespread opposition among the US public.Trump's claim came just hours before he was scheduled to deliver a speech in Washington, DC, which the White House described as an 'important update on Iran'. In his social media post, Trump mentioned that his administration would consider the purported ceasefire request once the Strait of Hormuz is 'open, free, and clear'. He also threatened to continue 'blasting Iran into oblivion' until this condition is met.The ongoing conflict has raised serious concerns about a global economic downturn, particularly due to the critical nature of the Strait of Hormuz, through which about one-fifth of the world's oil and liquified natural gas supplies transit. Experts, such as Mohamad Elmasry from the Doha Institute for Graduate Studies, have expressed concerns over Trump's aggressive rhetoric and its implications for civilian infrastructure in Iran.Al Jazeera's Alan Fisher, reporting from the White House, suggested that Trump is unlikely to announce an immediate end to the war during his address. Instead, sources indicate that he may state the conflict will continue for a couple of weeks, acknowledging the financial strain on the public but framing it as a short-term pain.

President Donald Trump has made a bold statement regarding the ongoing conflict with Iran, suggesting that the US could potentially end the war within two to three weeks. He emphasized that a deal is not a prerequisite for the US to withdraw from the conflict, indicating a possible shift in his diplomatic approach.Trump's comments come amid rising tensions and escalating energy prices, with domestic petrol prices in the US jumping past an average of $4 a gallon. The conflict has disrupted energy supplies and shaken the global economy, with Iran's attacks on Gulf oil facilities and its continued control over fuel supplies through the Strait of Hormuz, a vital waterway through which one-fifth of the world's oil and liquified natural gas passes.In a surprising move, Trump has criticized allied countries for not providing sufficient support in the conflict. He took aim at countries like the UK, telling them to either buy US fuel or get involved in the rapidly escalating war. 'Go get your own oil!' he stated, emphasizing that the US wouldn't be there to help them anymore.Trump's statements have been met with caution by experts, who note that it would not be easy for him to simply walk out of a conflict that has spread across the region and resulted in thousands of deaths. Trita Parsi, a foreign policy expert, suggested that Trump's comments should be treated with skepticism, predicting that the timeline for the conflict would likely continue to be extended.The conflict has also drawn in other countries, with Israeli Prime Minister Benjamin Netanyahu arguing that the war on Iran was 'definitely beyond the halfway point.' The situation remains volatile, with experts warning that Iran will continue to control the Strait of Hormuz and potentially continue to target it.

The Group of Seven (G7) countries have committed to taking all necessary measures to stabilize the energy market, which has been roiled by the ongoing conflict between the US and Iran. In a statement released after a teleconference organized by France, the G7 emphasized its readiness to preserve the stability and security of the energy market in close coordination with its partners. The meeting came as Brent crude prices surged above $116 a barrel due to Iran's retaliatory actions against Gulf oil producers and the effective blockade of shipping through the Strait of Hormuz. The G7, comprising the US, Canada, Japan, Britain, France, Germany, and Italy, also called on countries to refrain from imposing unjustified export restrictions on oil, gas, and related products. The International Energy Agency (IEA) had earlier agreed to release a record 400 million barrels of oil from strategic stockpiles to combat spiking global crude prices. The G7 central banks have committed to maintaining price stability, with monetary policy to be based on data. The conflict has raised fears of further escalation that could drive oil and natural gas prices even higher.

Australia's government has taken swift action to alleviate the financial burden on its citizens, announcing a plan to cut petrol and diesel taxes by half from April 1 to June 30. This move comes as the international benchmark for crude oil surged above $116 a barrel, its highest level in nearly two weeks, amid the escalating conflict in the Middle East.Prime Minister Anthony Albanese made the announcement on Monday, stating that the fuel excise would be reduced by half in recognition of the 'financial stress' caused by rising energy prices. The cut is expected to reduce the cost of petrol by 26.3 Australian cents ($.18) per litre, saving motorists nearly $19 ($13) on a 65-litre (17-gallon) tank of fuel.Albanese emphasized that the government is acting to be 'over-prepared' as the impact of the war on the other side of the world plays out in Australia. The government will also suspend its charge on heavy vehicles for three months. While Australia is a major exporter of coal and natural gas, the country sources about 80 percent of its refined fuel needs from overseas.However, some critics argue that the tax cut may not have a significant impact, as petrol prices have risen by about 33 cents ($0.21) per litre in the past two weeks alone. The National Roads and Motorists' Association in Australia noted that a similar tax cut after Russia's full-scale invasion of Ukraine in 2022 was barely felt by motorists.Despite these concerns, the Australian government remains committed to supporting its citizens during this challenging time. Minister for Energy Chris Bowen assured parliament that Australia's energy supply remains secure, with all expected fuel deliveries arriving as scheduled, and that the country has 39 days of petrol in emergency stockpiles, as well as about 30 days each of diesel and jet fuel reserves.

Kuwait's Ministry of Electricity confirmed that an Iranian attack on a power and water desalination plant resulted in the death of an Indian worker and significant material damage to a service building. The attack is part of Iranian aggression against Kuwait, according to the ministry.Emergency response teams were quickly dispatched to the site to manage the aftermath and ensure continued operations. The incident occurred as regional tensions spike following the start of the US-Israeli war on Iran over a month ago.Iranian forces have retaliated against Israel and countries hosting US military assets with drone and missile strikes, causing casualties and infrastructure damage. The conflict has also led to Iran effectively blocking the Strait of Hormuz, a critical passage for 20% of global oil and liquefied natural gas, driving up energy prices and unsettling financial markets.The vulnerability of critical water infrastructure in one of the world's most water-scarce regions has been exposed by the war. Kuwait has faced repeated attacks since the conflict began, including the detection of 14 missiles and 12 drones in its airspace, with several targeting a military camp and injuring 10 servicemen.The US and Israeli attacks on Iran have killed over 2,000 people, including high-ranking officials and children, and destroyed critical infrastructure. The situation remains volatile, with US President Donald Trump pausing threatened attacks on Iranian energy plants until April 6, and Iran vowing to respond to any attacks on its facilities with strikes on energy sites across the Gulf region.