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World Economy Apr 11, 2026

Ceasefire Leaves Strait of Hormuz Shipping Stalled, Oil Prices Edge Higher

Despite a two‑week US‑Iran ceasefire, vessel movements through the Strait of Hormuz remain minimal,…
Shipping through the strategic Strait of Hormuz remains effectively halted even after Washington and Tehran announced a two‑week ceasefire on Tuesday, dampening expectations of a swift end to one of the most severe energy disruptions in recent memory. According to ship‑tracking data from market‑intelligence firm Kpler, only five vessels crossed the waterway on Wednesday, down from eleven the day before, and seven managed the passage on Thursday. The figure is a stark contrast to the pre‑conflict norm of 120‑140 daily transits that the strait typically handled before the February 28 attacks by the United States and Israel. More than 600 vessels, including 325 tankers, are still stranded in the Gulf, as reported by Lloyd’s List Intelligence. Ana Subasic, Kpler’s trade‑risk analyst, warned that even if the ceasefire holds, safe‑passage capacity is likely to stay limited to 10–15 ships per day, reflecting shipowners’ caution and the absence of any toll‑free guarantee. The strait channels roughly one‑fifth of the world’s oil and LNG supplies. Its continued blockage therefore sustains pressure on global energy markets. After a brief dip, Brent crude rose to $96.39 a barrel at 02:00 GMT on Friday, having slipped below $95 the previous day. U.S. President Donald Trump accused Iran of violating the ceasefire’s “safe passage” clause, labeling Tehran’s performance “very poor” in a Truth Social post. Iran’s foreign minister, Abbas Araghchi, countered that the United States had not honored its commitments, urging Washington to choose between a genuine ceasefire and “continued war” linked to Israel’s actions in Lebanon. Maritime veteran C Uday Bhaskar described the atmosphere in the strait as one of “uncertainty and anxiety,” noting that shipping firms remain fearful, especially after Iranian statements about newly laid mines. Sultan Ahmed Al Jaber, CEO of the UAE’s state‑run oil giant ADNOC, echoed the sentiment, asserting that Iran’s conditional permissions amount to “coercion, not freedom of navigation.” Asian equity markets responded positively to the tentative easing of oil price pressure. Japan’s Nikkei 225 climbed 1.8 %, South Korea’s KOSPI rose about 2 %, and Hong Kong’s Hang Seng Index gained roughly 1 % in early Friday trading. While the ceasefire offers a diplomatic window, the reality on the water remains stark: the Strait of Hormuz is far from open, and the global energy system continues to feel the strain of constrained maritime traffic.
#iran #ceasefire #adnoc
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World Economy Apr 11, 2026

Oil Prices May Take Months to Normalize Despite US-Iran Ceasefire

Despite a ceasefire between the US, Israel, and Iran, oil and gas prices are expected to take month…
The recent ceasefire between the United States, Israel, and Iran has brought a fragile calm to the region, but experts warn that energy prices may take months to normalize. The conflict had a significant impact on global oil and gas supplies, particularly through the Strait of Hormuz, a critical waterway through which 20% of the world's oil and gas exports pass.Iran's response to US-Israeli attacks included choking off the Strait of Hormuz and attacking energy infrastructure in several Gulf countries. This led to soaring prices for energy and byproducts like helium, as well as fertilizers that rely on these inputs, affecting sowing seasons and consumers worldwide, especially in developing countries.Experts stress that a predictable and stable flow of cargo through the strait is needed before markets can stabilize. Currently, only a trickle of vessels are passing through, with five vessels crossing on Wednesday and seven on Thursday, down from 120-140 ships per day before the conflict.Rockford Weitz, a professor at The Fletcher School at Tufts University, described the situation as 'the biggest disruption in the history of global oil markets.' He emphasized that normalization will take time and requires collaboration among global powers and regional players.Additionally, concerns remain about Iran charging toll fees and skyrocketing insurance fees, which could keep oil prices high. However, experts agree that these fees are not the primary cost drivers.The International Monetary Fund (IMF) has warned of a looming inflation crisis and plans to downgrade its forecast for the world economy. Kristalina Georgieva, IMF managing director, stated that growth will be slower, even if the new peace is durable.For now, oil prices are expected to remain higher than pre-war levels due to the overhang of greater risk premium of supplies out of the Gulf. The situation remains uncertain, with experts closely watching for any side deals, such as a potential agreement between Iraq and Iran, which could impact oil production and prices.
#oil #prices #iran
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News Apr 11, 2026

Pakistan Hosts US-Iran Talks with Modest Goals

Pakistan is hosting talks between the US and Iran, aiming for a modest outcome of continued negotia…
Pakistan is set to host high-level talks between the United States and Iran in Islamabad, with a modest goal of getting the two nations to find common ground to continue negotiations. The talks, which will be held in a 'proximity format' with Pakistani officials shuttling messages between the two teams, follow a Pakistan-mediated two-week ceasefire agreed upon by the US and Iran.The US delegation, led by Vice President JD Vance, and the Iranian team, expected to be led by Foreign Minister Abbas Araghchi and Parliament Speaker Mohammad Bagher Ghalibaf, will meet at the Serena Hotel in Islamabad. Despite the significant differences between the two nations, experts and sources close to the mediation effort have expressed little expectation of a major breakthrough.Pakistan's goal is to secure an agreement for the US and Iran to continue dialogue, with the aim of building on the truce that led to a collective sigh of relief globally. The talks will focus on finding a lasting peace deal, with key issues including verifiable restrictions on Iran's nuclear programme and full sanctions relief.The talks are taking place against a backdrop of escalating tensions in Lebanon, with Iran framing Israeli strikes on Lebanon as a direct challenge to the ceasefire. Iranian President Masoud Pezeshkian warned that continued attacks would render negotiations meaningless.Despite these challenges, there are tentative signs of easing tensions ahead of the talks, with US Vice President JD Vance expressing optimism about the negotiations and Saudi Arabia's foreign minister speaking with his Iranian counterpart for the first time since the war started.
#pakistan #not #lebanon
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Politics Apr 11, 2026

New York Mayor Zohran Mamdani Marks 100‑Day Milestone with Universal Childcare Rollout and 100,000 Potholes Fixed

In his first 100 days, New York’s newly elected mayor Zohran Mamdani has delivered on key promises,…
Zohran Mamdani celebrated his 100‑day anniversary as New York City’s mayor amid a backdrop of frigid crowds at City Hall and a historic milestone: the city filled 100,000 potholes in just over three months. The 32‑year‑old Democratic socialist, the first Muslim mayor of the United States’ wealthiest city, framed his early tenure as a test of whether a platform built on affordability could be translated into concrete governance. His administration’s headline achievement is the launch of a universal childcare initiative. Partnering with Governor Kathy Hochul, the mayor secured $1.2 billion from the state’s 2026 budget—funds drawn from existing revenue streams rather than new taxes—to add 2,000 daycare seats in low‑income neighborhoods. Sign‑ups for two‑year‑old slots will open in June, with allocations announced by August. “One in four New Yorkers lives in poverty, and after housing, childcare costs are pushing families out of the city,” Mamdani told Al Jazeera, underscoring the program’s role in curbing a citywide affordability crisis. Parallel to the childcare rollout, the mayor’s pothole‑filling campaign has become a symbolic win. By early April, crews had patched the 100,000th pothole, a move Mamdani described as proof that the city can handle “the smallest tasks in New Yorkers’ lives” before tackling larger challenges. However, the administration faces criticism on several fronts. Snowstorm responses earlier in the year exposed gaps in emergency planning, prompting Mamdani to acknowledge the need for better tools to manage “bus stops, sidewalks, and crosswalks.” A newly released cost‑of‑living index revealed that 62 % of New Yorkers cannot afford basic expenses, with families on average falling nearly $40,000 short of a sustainable budget. The burden is especially acute for communities of colour—77 % of Hispanic and 65 % of Black residents are financially strained. Fiscal conservatives, such as Manhattan Institute adjunct EJ Mahon, argue that New York already imposes the highest tax rates on millionaires in four decades, warning that further “tax‑the‑rich” rhetoric could drive wealth out of the city. Local commentator Aria Singer echoed this concern, suggesting that aggressive tax hikes might prompt billionaires to relocate, undermining job creation. Housing remains a central battleground. Rents have risen roughly 25 % since 2019, and while Mamdani’s proposal to freeze rents would affect only about half of the rental stock, his administration is pushing an aggressive construction agenda to increase supply and stimulate competition. Political dynamics add another layer of complexity. The mayor’s ability to raise taxes or fund ambitious projects hinges on Governor Hochul’s approval, as the city lacks autonomous authority over most tax levers. Moreover, initiatives like free city buses require cooperation with the state‑run Metropolitan Transit Authority (MTA). Strategist Adin Lenchner of Carroll Street Campaigns cautioned that sustained grassroots pressure will be essential for Mamdani to translate his agenda into lasting policy, noting that even former President Barack Obama struggled to maintain such momentum. Beyond policy, Mamdani has confronted a surge in xenophobic incidents targeting Jewish and Muslim communities, including a vehicle attack on a Brooklyn Jewish centre and an alleged ISIS‑inspired explosive device outside his Gracie Mansion residence. He condemned the violence, emphasizing that “such acts are antithetical to who we are.” As the 100‑day mark passes, the mayor’s focus has shifted from the symbolic cold of his inauguration to the practical heat of governing a city that demands tangible results. While potholes may seem minor, Mamdani argues they are a litmus test for public trust: “If we can’t fix the pothole you hit every day, how can you trust us with bigger challenges?”
#Zohran Mamdani #New York City #Universal Childcare
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News Apr 11, 2026

Ukraine Deploys Drone Interceptors to Down Iranian Drones in Middle East

Ukrainian President Volodymyr Zelenskyy confirms that Ukrainian technology was used to shoot down I…
Ukrainian President Volodymyr Zelenskyy has confirmed that his country's technology played a crucial role in shooting down Iranian drones in the Middle East. This development comes after Zelenskyy announced last month that expert teams had been deployed to the region following the outbreak of the United States-Israeli war on Iran.In a recent statement, Zelenskyy revealed that Ukrainian forces participated in operations using domestically produced interceptor drones against 'Shahed' drones, which are similar to those used by Russia during its ongoing conflict with Ukraine.Key highlights of Zelenskyy's statement include:Ukrainian forces successfully destroyed Iranian 'shaheds' in several countries.The operations were not limited to training missions but involved actual support in building modern air defence systems.Ukrainian experts provided crucial advice on strengthening air defence systems in countries that collaborated with them.Zelenskyy expressed optimism about the future, stating that it is only a matter of time before mass production of interceptors capable of destroying drones with jet engines commences.Kyiv has effectively utilized cheap drone interceptors to neutralize Russian drones before they reach their targets. As part of the agreement, Ukraine is receiving weapons to protect its energy infrastructure and, in some cases, financial arrangements.During his recent visits to Gulf nations, including Qatar, Saudi Arabia, Jordan, and the United Arab Emirates, Zelenskyy signed defence agreements with the UAE, Qatar, and Saudi Arabia.
#zelenskyy #drones #ukrainian
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News Apr 11, 2026

US‑Iran Ceasefire Talks in Pakistan Undermined by Fresh Tehran‑Washington Dispute Over Lebanon and Frozen Assets

A US delegation arrived in Islamabad for scheduled cease‑fire negotiations with Iran, but newly sur…
The United States team landed in Islamabad on Friday, gearing up for Saturday’s planned cease‑fire talks with Iran aimed at pausing the ongoing US‑Israel‑Iran conflict.New friction erupted on Friday when senior officials from both sides exchanged conflicting accounts of a 10‑point Iranian proposal that underpinned Tuesday’s temporary pause in hostilities.Iranian Parliament Speaker Mohammad Bagher Ghalibaf warned on X that two critical measures—a cease‑fire in Lebanon and the release of Iran’s blocked assets—remain unfulfilled, insisting they must be addressed before negotiations can proceed.Ghalibaf, who is slated to attend the summit alongside Foreign Minister Abbas Araghchi, echoed the Iranian military’s joint command warning that its “fingers are on the trigger” after what it described as repeated “breaches of trust” by the United States and Israel.Meanwhile, former President Donald Trump escalated rhetoric, telling the New York Post that the U.S. is loading ships with the “best weapons ever made” and will employ them “very effectively” if a deal is not reached. In subsequent Truth Social posts, he dismissed Iran’s leverage over the Strait of Hormuz as a “short‑term extortion” and claimed the Iranians are “alive today only to negotiate.”The Trump administration credits Tuesday’s cease‑fire agreement with averting a larger U.S. escalation, yet it has not disclosed the exact framework agreed upon, noting it differs from Iran’s published 10‑point plan.Analysts point to substantial gaps between the parties on several fronts: Iran’s future control of the Strait of Hormuz, the status of frozen Iranian assets, the trajectory of Iran’s nuclear program, and Israel’s ongoing offensive in Lebanon.U.S. and Israeli officials assert that a Lebanese cease‑fire was never part of the deal, contradicting Iran and Pakistan’s position. Nonetheless, President Trump told an Israeli reporter that he urged Prime Minister Benjamin Netanyahu to make Israeli operations against Hezbollah “more low‑key” ahead of the talks.Israeli strikes continued, killing at least 300 people nationwide on Wednesday—the deadliest day of the offensive—while Al Jazeera’s correspondent reported no slowdown in southern Lebanon’s fighting. Kuwait also reported intercepting seven drones launched from Iran into its airspace within 24 hours.Despite the heightened rhetoric, U.S. Vice President JD Vance expressed optimism, stating he expects a “positive” outcome from the negotiations and that he has received “pretty clear guidelines” from President Trump. Vance emphasized that the United States is ready to extend an “open hand” to Iran if it negotiates in good faith, but warned that any attempt to “play us” would meet a “non‑receptive” negotiating team.Vance’s leadership reflects a non‑interventionist strand of the Trump administration, stepping in as Iran’s trust in special envoy Steve Witkoff and Trump’s son‑in‑law Jared Kushner has eroded. Witkoff and Kushner previously headed two rounds of indirect talks on Iran’s nuclear program, both of which collapsed—first after Israel launched a 12‑day war on Iran in June 2025, and again after the latest war erupted on February 28.
#iran #pakistan #lebanon
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Politics Apr 11, 2026

US Court Hears Case Against Trump's Global Import Tariffs

A US federal court is hearing a case against President Donald Trump's global import tariffs, with s…
The US Court of International Trade is hearing oral arguments in a case aimed at overturning President Donald Trump's global import tariffs. The tariffs, which were imposed in February, have been met with opposition from several US states and small businesses.The plaintiffs, including 24 mostly Democratic-led states and two small businesses, argue that the 10% global import tax sidesteps a Supreme Court ruling that invalidated most of Trump's previous tariffs. They claim that the tariffs are based on archaic authority meant to protect the US dollar from sudden depreciation in the 1970s, not to address routine trade deficits.Oregon's lawyer, Brian Marshall, told the judges that they should block the tariffs rather than let them expire on the normal 150-day timeline, to prevent Trump from invoking laws to keep them indefinitely. "[If] we have a successive series where there's always tariffs in place, that's a problem," Marshall said.The Trump administration has argued that the global tariffs are a legal and appropriate response to a persistent trade deficit caused by the fact that the US imports more goods than it exports. "President Trump is lawfully using the executive powers granted to him by Congress to address our country's balance of payments crisis," White House spokesperson Kush Desai said.The case is significant as it challenges Trump's use of Section 122 of the Trade Act of 1974, which authorises duties of up to 15% for up to 150 days on imports during "large and serious United States balance-of-payments deficits" or to prevent imminent depreciation of the dollar.
#Donald Trump #US federal court #Supreme Court ruling
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Politics Apr 10, 2026

US Vice President JD Vance Cautions Iran Against Manipulating Islamabad Peace Talks Amid Lebanon‑Israel Conflict and Oil Shock

JD Vance warned Iran not to try "playing" the United States at the Islamabad negotiations, while Te…
JD Vance, the United States vice‑president, issued a stark warning to Tehran as he boarded Air Force Two for Pakistan: Iran must not attempt to "play" the United States at the peace talks scheduled for Saturday in Islamabad. The talks, mediated by Pakistan, could determine whether the fragile ceasefire in the region holds or if hostilities resume, with significant repercussions for the global economy, especially oil markets. Iranian parliamentary speaker Mohammad Bagher Ghalibaf and foreign minister Abbas Araghchi have conditioned their participation on two unmet measures: a full ceasefire in Lebanon and the release of Iran’s blocked assets. Ghalibaf posted on X that "Two of the measures mutually agreed upon between the parties have yet to be implemented." Uncertainty lingered on Friday night about whether the Iranian delegation would even travel to Islamabad. Earlier reports indicated that Israel had removed the Iranian officials from its bombing target list at Washington’s request. Meanwhile, Donald Trump amplified the tension, telling the New York Post that U.S. forces were "loading up the ships with the best ammunition" and would use them if negotiations failed. He later posted that Iran "has no cards" except short‑term extortion of international waterways. The backdrop to the talks is a worsening Lebanon‑Israel confrontation. More than 300 Lebanese civilians have been killed since the ceasefire began, and 13 Lebanese security personnel died in an Israeli strike on a government building in Nabatieh. Trump and Israeli Prime Minister Benjamin Netanyahu dispute whether the April 7 ceasefire between the U.S. and Iran includes Lebanon, and Israel continues bombing Hezbollah‑linked targets despite Netanyahu’s earlier statements about opening negotiations with the Lebanese government. Oil markets have felt the shock. The February 28 U.S.–Israeli strike on Iran and Tehran’s subsequent closure of the Strait of Hormuz—shutting off roughly one‑fifth of the world’s oil and liquefied natural gas—triggered a sharp price spike, adding political pressure ahead of the November U.S. congressional elections. Vance, however, expressed optimism as he departed for Islamabad: "We’re looking forward to the negotiation. I think it’s going to be positive. If the Iranians are willing to negotiate in good faith, we’re certainly willing to extend the open hand." He added, "If they’re going to try and play us, then they’ll find the negotiating team is not that receptive." The U.S. delegation also includes senior adviser Steve Witkoff and former senior adviser Jared Kushner, both of whom participated in earlier talks on Iran’s nuclear and missile programmes before the February attack. Negotiations are expected to focus on reopening the Strait of Hormuz, the future of Iran’s nuclear program, potential sanctions relief, reparations for war damage, and the release of Americans detained in Iran, according to the Washington Post. Advance teams from the United States and Iran have already taken up rooms at Islamabad’s five‑star Serena hotel, with Pakistani officials acting as intermediaries. Security forces have established a two‑mile perimeter around the hotel, declared a public holiday, and locked down the city centre to ensure a safe environment for the high‑stakes mediation. Hezbollah, while not commenting directly on the Lebanese‑Israeli negotiations, issued a statement urging the Lebanese government to stop "making gratuitous concessions" and vowed to continue fighting to "expel the occupier." The Lebanese army has reinforced its presence in Beirut following an Israeli strike that killed at least 303 people. Fighting persists in southern Lebanon, with Hezbollah claiming to have struck Israeli soldiers near Bint Jbeil—a town symbolic of resistance from the 2006 war—and launching rockets into Israel throughout Friday. Israel’s airstrikes across Lebanon have intensified, culminating in the Nabatieh attack that killed the highest number of Lebanese security forces to date.
#JD Vance #Iran #Islamabad peace talks
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Commentisfree Apr 10, 2026

Trump’s Iran Threat Ignites Global Condemnation Over War‑Crime Rhetoric

An editorial warns that President Donald Trump’s recent genocidal threat against Iran, framed as a …
Linguist George Lakoff warned that metaphors can kill, noting how euphemistic language in the Gulf War concealed harsh realities. He argued that framing conflict with business‑like cost‑benefit analogies or heroic narratives masks civilian suffering. Historically, the U.S. military has preferred sanitized terms such as “collateral damage” and “surgical strikes” to describe civilian casualties. In stark contrast, President Donald Trump has resorted to overtly hostile language, issuing a series of threats that culminated this week with the claim that “a whole civilisation will die tonight” unless Iran accepts a deal. The threat emerged amid a fragile two‑week ceasefire that the United States helped broker after the conflict it ignited six weeks earlier. While the ceasefire offered a brief respite, its stability was immediately questioned, and upcoming talks in Islamabad faced similar uncertainty. At the same time, Israel intensified its campaign in Lebanon, launching a ten‑minute strike—dubbed “Operation Eternal Darkness”—that killed dozens of civilians, including children, a poet, and journalists. In Gaza, despite a ceasefire declared six months ago, Israeli forces have continued to kill hundreds of Palestinians, accompanied by rhetoric that borders on annihilation. Legal experts stress that Trump’s ultimatum would compel the U.S. military to carry out clearly illegal acts. Although soldiers are obligated to obey only lawful orders, the administration’s erosion of institutional checks has left them with few avenues to refuse. Political philosopher Mathias Risse observed that the language of civilizational destruction is not merely a symptom of atrocity but a tool of it, effectively making the threat itself a war crime. Scholars note that such an explicit declaration of intent is rare, and pursuing accountability through international law may seem futile. Nevertheless, the editorial argues that any attempt to hold Trump accountable is essential; allowing the threat to go unchecked would further undermine the rules‑based international order. The Pope and a prominent Hollywood actor have publicly condemned the president’s statements, underscoring the moral urgency of the issue. Failure to challenge this rhetoric, the piece warns, could erode legal and normative standards worldwide, leaving Iran and other populations exposed to heightened peril.
#iran #israel #lebanon
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