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The UK government's proposal to boost North Sea oil and gas drilling is unlikely to provide relief to consumers in the form of lower energy prices. Oil prices have surged to $100 a barrel following the US and Israel's attack on Iran, with potential increases to $150 a barrel due to supply issues in the Strait of Hormuz.Kemi Badenoch, leader of the Conservative party, has introduced a plan to 'get Britain drilling' by opening new oil and gas fields in the North Sea. However, experts argue that this will not reduce energy bills for UK consumers. Oil and gas are sold on international markets, and prices are set globally, so there is no direct discount for UK consumers.The Conservative party has previously acknowledged this, but now suggests that tax reforms and removal of VAT on bills could deliver £200 cuts to household energy bills. The plan involves scrapping the windfall tax on North Sea producers, which has raised about £12bn so far.Critics argue that the windfall tax is essential and that removing it would not stimulate production significantly. The tax does not increase prices to consumers and has the support of the International Energy Agency.Analysis suggests that redirecting tax revenues from the North Sea back to consumers would have a minimal impact on bills. A study found that households would gain only about £16 a year if tax revenues from a maximally exploited North Sea were redistributed.Badenoch's claims about job creation in the North Sea are also disputed. The sector is declining, and geology, not politics, will dictate the future of North Sea oil and gas. Most of the UK's sector has already been drained, with only about 218m tonnes of oil recoverable by 2050 from existing fields.New drilling could add only 74m tonnes of oil and 1.1% to gas production, equivalent to putting off the end of the North Sea by a year or two. Job losses in the sector are a concern, with at least 70,000 jobs lost in the decade to 2024.Experts stress that renewable energy sources are a more secure and sustainable alternative. The UK should focus on creating conditions for clean energy infrastructure to attract investment and drive growth.

The UK is set to host 35 countries, excluding the US, to discuss ways to reopen the Strait of Hormuz, a crucial shipping route for oil and gas that has been blocked by Iran. Prime Minister Keir Starmer announced that the next phase of discussions, led by the UK and France, will take place on Thursday, with Yvette Cooper, the foreign secretary, alongside international leaders.The meeting will focus on assessing viable diplomatic and political measures to restore freedom of navigation, guarantee the safety of trapped ships and seafarers, and resume the movement of vital commodities. British military planners will meet afterwards to discuss how to marshal their capabilities and make the strait accessible and safe after the fighting has stopped.The blockade has resulted in around 1,000 ships being stranded, with only about 130 ships passing through since the war began, compared to the normal daily number. The strait is a critical route, with a fifth of the world's oil and gas supplies and a third of global fertilisers passing through before the conflict.The US has not been directly invited to participate in the talks, which will include countries that signed a joint statement last month, such as the UK, France, Germany, Italy, and the Netherlands, as well as Japan, Canada, South Korea, and New Zealand. The Ministry of Defence has sent military planners to US Central Command to explore options for getting tankers through the strait.Iran's Islamic Revolutionary Guards Corps has stated that the Strait of Hormuz will remain closed to 'enemies of this nation', and US President Donald Trump has posted that there will be no ceasefire with Iran until it relinquishes control of the waterway.

Israel has unleashed a significant military operation against Iran, launching two waves of attacks on Tehran and killing a senior Hezbollah commander. The attacks have escalated tensions in the region, with Iran's president, Masoud Pezeshkian, denying claims of a ceasefire request.US President Donald Trump has claimed that Iran's leadership is seeking a ceasefire, but Iran's foreign ministry spokesperson has denied this, calling Trump's account 'false and baseless'.The conflict has resulted in at least 1,900 people killed and 20,000 injured in Iran, according to estimates from the International Federation of Red Cross and Red Crescent societies. The Israeli military has also reported that 10 of its soldiers have been killed since fighting broke out on the Lebanese front.The attacks have had significant economic implications, with the strait of Hormuz effectively closed to oil and gas tankers and other merchant shipping since the beginning of the conflict, hiking oil prices and causing critical shortages around the world.Iran's president has written to Americans, asking which of their interests are being served by this war, and stating that Iranians 'harbor no enmity towards other nations, including the people of America'. The conflict continues to escalate, with further waves of attacks reported across the densely populated centre of Israel.

Ukraine is facing a critical spring as the country's situation continues to deteriorate. US financial support has dried up under Donald Trump, making European aid crucial. However, Hungary's Prime Minister Viktor Orbán is blocking a €90bn EU loan to Kyiv, causing exasperation for Ukrainian President Volodymyr Zelenskyy.Orbán's opposition is driven by his nationalist base and allegations of collusion with Russia to undermine European decision-making. With US attention shifting to the Middle East, Ukraine has become more vulnerable and reliant on European support. Higher oil prices and the lifting of restrictions on Russian oil have boosted Vladimir Putin's war economy, while stocks of US Patriot missile interceptors are dwindling.Meanwhile, peace negotiations with Moscow have paused, and the White House's priorities in the Gulf are taking precedence over Kyiv's needs. Ukraine's president has stated that future US security guarantees are being linked to the surrender of unoccupied territory in the Donbas. Europe must develop stronger mechanisms to counter blocking tactics like Orbán's and provide crucial financial support to Ukraine.

The UK is bracing for a potential third inflationary shock in less than a decade as the conflict between Iran and the US threatens to disrupt oil supplies. The Strait of Hormuz, a critical waterway for global oil supplies, is at risk of being blocked, which could lead to a significant increase in oil prices. The impact of such a disruption would be felt globally, with Asia being particularly affected as it buys 80% of the oil transported through the strait. Countries in the region are already experiencing the effects, with governments imposing limits on driving and shortening working weeks to conserve energy. Populations are struggling with dramatic hikes in food prices and shortages of petrol and diesel. In Bangladesh, the government reportedly believes it will run out of oil and gas within weeks. To conserve fuel, some temples in Thailand have stopped cremations. The energy-supply storm may well hit the UK's shores just before next month's elections, prompting Keir Starmer to call Cobra meetings and Rachel Reeves to summon business leaders into Downing Street. The poorest households will be hit hardest by the inflationary shock, with food producers predicting prices will rocket nearly 10% this year. According to calculations done exclusively for this column by the Energy and Climate Intelligence Unit (ECIU), that will add £127 to the average household's annual food bill. However, the ECIU also notes that because the poorest spend proportionately more of their money on food, they will be hit far worse. The author suggests that the UK needs to adopt a more progressive approach to utility pricing, with a move away from fossil fuels and from the current system of ownership. The days of relying on a growth miracle are over, and the UK needs to focus on addressing the inequality and regressive utility pricing that will exacerbate the impact of the inflationary shock.

The UK has been identified as the most vulnerable country in Europe to potential jet fuel shortages as the Iran war disrupts supplies from the Gulf, according to Ryanair CEO Michael O'Leary. O'Leary stated that Britain's reliance on Kuwait for approximately 25% of its jet fuel supply makes it particularly exposed to shortages. He emphasized that even if there is a surplus of jet fuel in the Middle East, the logistics of shipping it to Europe remain uncertain.Jet fuel prices have surged, averaging $195 a barrel last week, more than double the average from the previous year. This increase is largely attributed to the effective closure of the Strait of Hormuz, a critical passage through which over a fifth of the world's oil normally passes.While oil prices eased slightly after US President Donald Trump expressed hope for an end to the Iran war within two to three weeks, the situation remains precarious for airlines. Ryanair has hedged 80% of its fuel costs until next March at $67 a barrel, but O'Leary highlighted that supply disruptions, rather than prices, pose the greater risk.The airline industry faces potential flight cancellations and capacity reductions if fuel supply issues persist. O'Leary also mentioned that higher fares could be a possibility, although there are currently no plans to increase prices. Additionally, he called for the UK government to abolish air passenger duty (APD), a tax that recently increased, further impacting the competitiveness of UK air travel.

The UK Prime Minister's recent announcement of a 'five-point plan' to address the energy crisis has been met with skepticism. During his remarks from Downing Street, Prime Minister Starmer outlined measures that were largely pre-existing or unrelated to the immediate crisis. The plan included: cutting energy bills by over £100 per household, which was announced by Chancellor Rachel Reeves in last November's budget and has since been adjusted to £117 for an average dual-fuel household; extending the cut in fuel duty until September; supporting people exposed to heating oil rises with £53m; investing in clean British energy through the Clean Power 2030 plan; and pushing for de-escalation in the Middle East. Critics argue that most of these points were not new and did not adequately address the current crisis. The plan did not provide specifics on who else could get help with energy bills or how targeted support would be delivered. The Clean Power 2030 plan, a five-year £200bn infrastructure project, will not yield immediate results for consumers, with savings expected to arrive around 2040. The article concludes that repeating measures from last November's budget is not a plan and that a proper five-point plan would be needed if an energy price shock turns into a supply shock, possibly meaning rationing.

Nicola Jennings, a renowned cartoonist for The Guardian, has created a thought-provoking cartoon titled 'Nicola Jennings on Trump and the strait of Hormuz – cartoon'. The cartoon, published on April 1, 2026, offers a visual commentary on US President Donald Trump's stance on the Strait of Hormuz, a strategically vital waterway in the Middle East. The cartoon, illustrated by Jennings, is part of The Guardian's series of opinion cartoons. It reflects on the geopolitical tensions in the region, particularly focusing on the US-Israel relations and the potential conflict with Iran. The Strait of Hormuz is a critical passage for global oil shipments, and any disruption in this area can have significant impacts on the world economy. Jennings' work often provides insightful and satirical views on current affairs. In this cartoon, she uses her signature style to convey the complexities and risks associated with Trump's policies in the Middle East. The cartoon serves as a reflection of the broader tensions between the US, Israel, and Iran, highlighting the delicate balance of power in the region.

The film 'Fuze' is a London heist thriller that promises to deliver a wild ride with its intricate plot and high-stakes action. Written by screenwriter Ben Hopkins and directed by David Mackenzie, the movie boasts a talented cast, including Theo James and Aaron Taylor-Johnson.Aaron Taylor-Johnson plays Major Will Tranter, a bomb disposal officer who becomes embroiled in a daring heist. The plot thickens when a crew of bank robbers, led by Theo James and Sam Worthington, use a giant unexploded WWII device as a diversion to tunnel into a safe-deposit vault.The film's tense moments include a three-second bank transfer of millions of illicit dollars, which can be monitored on a smartphone in real-time. The reviewer notes that the movie's chutzpah and athletic plot contortions help to make up for its innate silliness.The movie features a star-studded cast, including Gugu Mbatha-Raw as the Met's chief superintendent. With its action-packed plot and high-stakes heist, 'Fuze' is set to thrill audiences when it hits cinemas on April 3 in the UK, April 16 in Australia, and April 24 in the US.