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The global oil trade is facing a chokepoint crisis, with Libya's oil disputes mirroring the situation in the Hormuz Strait. The Strait of Hormuz, a critical waterway for oil transportation, was briefly closed after US and Israeli strikes on Iran in late February, causing Brent crude oil prices to soar to nearly $120 a barrel.Libya, with its strategically located oil terminals on the northeastern coast, has become a crucial player in the global oil trade. The country's light, sweet grades of oil are particularly valuable to European refiners. However, Libya's political instability and factional oil deals are threatening to disrupt oil supplies, with Europe's energy security hanging in the balance.The Libyan National Army (LNA), led by Khalifa Haftar, controls the territory where Libya's oil is located, while the Government of National Unity (GNU) in Tripoli signs oil contracts. This has led to a situation where Tripoli may sign oil contracts, but Haftar decides whether oil actually flows. The Arkenu agreement, a private oil company linked to the Haftar family, was recently terminated due to corruption allegations, leaving the future of Libya's oil supplies uncertain.The US is attempting to broker new talks between Tripoli and Haftar's camp, but a deal is not yet certain. Meanwhile, European energy security is at risk, with the Mediterranean Sea becoming a battleground for proxy wars between Russia and Ukraine. The sabotage of oil infrastructure and attacks on tankers are exacerbating the situation, highlighting the need for a stable and secure oil supply to Europe.

Recent developments have positioned Asia as the central arena of the global oil crisis, a shift driven by a confluence of rising consumption, supply-chain bottlenecks, and heightened geopolitical friction across the region.Demand for petroleum products in major Asian economies continues to outpace the limited output from traditional exporters, intensifying competition for scarce barrels. At the same time, regional disputes—particularly those affecting key maritime routes and production hubs—have compounded the supply shortfall, prompting governments and industry leaders to reassess energy strategies.Analysts warn that the crisis could ripple through global markets, inflating transport costs, squeezing manufacturing margins, and accelerating the push toward alternative energy sources. Policymakers are now under pressure to balance short‑term relief measures with longer‑term diversification plans to mitigate future vulnerabilities.While the situation remains fluid, the emergence of Asia as the crisis’s hotspot underscores the interconnected nature of modern energy systems and the urgent need for coordinated international responses.

A Russian court on Monday handed former Kursk governor Alexei Smirnov a 14‑year prison term in a penal colony after finding him guilty of corruption that left the region’s border defenses vulnerable during Ukraine’s August 2024 offensive. According to the verdict, the 52‑year‑old official accepted bribes from construction firms tasked with building anti‑tank barriers. Investigations revealed that the barriers were erected with substandard materials incapable of stopping Ukrainian armored units, directly contributing to the rapid advance of an estimated 11,000 Ukrainian soldiers into Kursk. The court also imposed a fine of 400 million roubles (≈ $4.9 million), confiscated more than 20 million roubles (≈ $220,000) from Smirnov’s assets, and barred him from any employment for ten years. Smirnov, who had been appointed governor in May 2024 and resigned in December of the same year, pleaded guilty and was subsequently detained. He claimed that his predecessor, Roman Starovoit, encouraged the practice of accepting kickbacks. Starovoit, later appointed transport minister, was dismissed by President Vladimir Putin in July 2025 and died under circumstances ruled as suicide. The incursion marked the first time in decades that foreign troops entered Russian soil, forcing an estimated 78,000 Russian soldiers to engage the Ukrainian force and exposing systemic weaknesses in Russia’s border security. The Kremlin responded with a sweeping crackdown on regional and military officials deemed responsible for the failure. Russian forces eventually expelled the Ukrainian units from Kursk in April 2025, reportedly with assistance from several thousand North Korean troops. The episode remains a diplomatic embarrassment for President Putin, highlighting the strategic and political fallout of corruption within Russia’s regional administrations.

The Grand National continues to be a major highlight in the horse racing calendar, with its enduring popularity and cultural significance in the UK. Despite ongoing concerns about horse welfare, the event has seen a decrease in serious injuries and fatalities in recent years, thanks in part to modifications made to the course.The Grand National has a long history dating back to 1839 and remains one of the most-watched and highly bet-on events in the sport. While animal rights groups continue to criticize the race, citing concerns over horse safety, the sport's governing bodies have implemented various measures to minimize risks.In recent years, there has been a steady reduction in the number of fallers in the National, with data showing a decline from 8-8-4-4-6-4-5-4-4-0-3 fallers between 2014 and 2025. The 2024 and 2025 runs, with easier fences and a maximum field of 34, recorded the lowest and third-lowest numbers of fallers this century.Despite these improvements, fatalities still occur, and the RSPCA has called for lessons to be learned from recent incidents, emphasizing that 'one death is too many.' The organization has highlighted the need for continued vigilance and improvement in horse welfare and safety protocols.The racing community continues to evolve, with jockeys and trainers working to balance the thrill of competition with the imperative of protecting the animals involved. As the sport prepares for upcoming events, including the Grand National, there is a renewed focus on safety, welfare, and the integrity of the sport.

In the face of rising fuel costs, Sydney commuters are increasingly turning to bicycles as a viable alternative for their daily commutes. This shift is reminiscent of Copenhagen's response to the 1970s global oil crisis, where the city dramatically expanded its bicycle network.Recent data shows a significant increase in cycling activity in Sydney. In March, there were 600,000 bike-sharing trips in the City of Sydney, a 25% increase from the previous month. Additionally, thousands of cars have disappeared from Sydney's roads, with car traffic falling by around 5% in March compared to the previous year on major arterial roads.The surge in cycling is also reflected in the sales of electric bikes. At 99 Bikes, ebike sales have surged by 136% year on year in the past week. Bike retailers are experiencing booming business, with many customers citing high petrol prices as the reason for purchasing a bicycle or ebike.According to Australian Automobile Association (AAA) data, in the last quarter of 2025, the average Australian household spent about $453 per week on car-running costs. With unleaded petrol prices peaking at almost 260c per litre in April, a 50% increase from last year, the financial incentive for switching to bicycles is clear.Experts see this trend as an opportunity for a green revolution in transportation. Peter McLean, the CEO of Bicycle NSW, suggests that governments should capitalize on the cycling boon by investing heavily in active transport infrastructure rather than relying on short-term fuel excises.

A federal appeals court has ruled that New Jersey gaming regulators cannot prevent Kalshi from allowing people in the state to use its prediction market to place financial bets on the outcome of sporting events. The decision marks a significant victory for Kalshi and similar prediction market operators.The three-judge panel of the Philadelphia-based third US circuit court of appeals ruled 2-1, finding that the US Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over the sports-related event contracts that Kalshi allows people to trade on its platform.This ruling is a major setback for states like New Jersey, which had argued that firms like Kalshi were operating without required state licenses, in violation of gaming laws, including bans on wagers by those under 21. New Jersey had sent Kalshi a cease-and-desist letter last year, stating that its listing of sports-related event contracts on its platform violated state gambling laws.Kalshi had sued the state, arguing that its event contracts qualify as “swaps”, a type of derivative contract, that under the Commodity Exchange Act can only be regulated by the CFTC, which had granted the company a license to operate a designated contract market (DCM).The ruling was in line with the position advanced by the CFTC under Donald Trump’s administration. The regulator sued Arizona, Connecticut, and Illinois last week to prevent them from pursuing what it called unlawful efforts to regulate prediction markets.“Congress gave the CFTC exclusive jurisdiction over trades on DCMs, and this decision affirms the goals of Congress,” said Brooke Nethercott, a CFTC spokesperson.However, US circuit judge Jane Richards Roth dissented, saying Kalshi was facilitating gambling and that its “offerings were virtually indistinguishable from the betting products available on online sportsbooks, such as DraftKings and FanDuel”.The New Jersey attorney general's office said it was evaluating its options, including potentially asking the full third circuit to rehear the case.

Arsenal manager Mikel Arteta has insisted that his team will not panic after suffering back-to-back losses for the first time this season. The Gunners, who were defeated by Manchester City in the Carabao Cup final and Southampton in the FA Cup, face Sporting in the Champions League quarter-final on Tuesday.Arteta emphasized the importance of understanding the reasons behind their recent setbacks and regaining their identity. He stated, 'Instead of panic, understand if that happens, why it happened, and bring clarity. And when you analyse that and you accept that, you'll be better.'David Raya, set to start against Sporting, echoed Arteta's sentiments, urging his teammates to use their recent disappointments as motivation. 'Now that it's gone, we just have to use that fuel, that pain that we had after the game to pick it up for the rest of the season,' he said.Arsenal will be without Bukayo Saka and Jurriën Timber due to injuries, but Gabriel Magalhães, Declan Rice, and Leandro Trossard are expected to feature.Sporting manager Rui Borges expressed confidence in his team's ability to pull off an upset, stating, 'They are a great team and great teams always want to win. They will be more focused and more willing to show their collective and individual capacity.'

Tadej Pogacar, the winner of the Tour of Flanders for a record-equalling third time, is among the riders under investigation for allegedly running a red light at a railway crossing during the race on Sunday. The incident occurred when Pogacar, along with a group of riders, proceeded through the crossing without stopping, while most of the peloton behind them had to halt before the railway. Belgian officials have confirmed that an investigation is underway into the riders who allegedly ran the red light. Although no further details were provided immediately, local media reports suggest that the riders could face fines ranging from €320 to €4,000 (£279 to £3487) and a driving ban of eight days if found guilty. Pogacar, who rides for UAE Team Emirates-XRG, explained after the race that the signal to stop came too late for them. He described the situation, saying, “Suddenly three guys jump on the middle of the road and start waving to stop. How can you stop in one second? I think they could prevent this by stopping us before, no? Not 10 metres before the crossing. I was thinking: ‘Maybe it’s like some protesters or something crazy is going on.’” The Belgian newspaper Het Laatste Nieuws reported that the East Flanders public prosecutor’s office intends to prosecute the riders. Riders could face significant penalties, including fines and a driving ban, if convicted. Race officials ordered the riders who went through the red light to slow down so the rest of the peloton could catch up. The Tour of Flanders, also known as De Ronde (the Tour), is one of cycling’s most challenging one-day races and a “monument” of the sport. This year’s 278km route featured 16 short but punishing climbs and several cobblestone sections. Pogacar’s victory was notable, but the incident has overshadowed his achievement.

Sir Craig Reedie, a giant of the Olympic movement, has passed away at the age of 84. He served as chair of the British Olympic Association for over a decade and was instrumental in securing the 2012 Olympics for London.Reedie was also the president of the World Anti-Doping Agency (WADA) during a tumultuous period when Russia was found guilty of state-sponsored doping. He recommended banning Russia from the 2016 Rio Games, although this was ultimately rejected by the International Olympic Committee.Tributes have poured in for Reedie, with Sebastian Coe, the World Athletics president, describing him as a mentor, wise counsel, and great friend. Coe credited Reedie with playing a pivotal role in London's successful bid to host the 2012 Olympics.Reedie's dedication to the Olympic movement and clean sport has been widely praised. Dame Katherine Grainger, the current BOA chair, highlighted his tireless efforts to promote Olympic sport and his commitment to fair play.