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The conflict in Iran has sparked concerns about a potential global food crisis due to a looming shortage of fertiliser, a crucial component in food production. The Strait of Hormuz, a vital shipping route, has been disrupted, impacting the export of fertilisers from Gulf countries.On March 2, Ebrahim Jabari, a senior adviser to the commander-in-chief of Iran's Islamic Revolutionary Guard Corps (IRGC), announced that the Strait of Hormuz was 'closed', causing oil prices to soar above $100 per barrel. However, experts warn that a parallel crisis is emerging - a considerable threat to global food security due to a shortage of fertiliser.Nearly half of the world's traded urea, the most widely used fertiliser, and large volumes of other fertilisers are exported from Gulf countries via the Strait of Hormuz. Recent disruptions to gas supplies and shipping have already forced fertiliser plants in the Gulf and beyond to shut or cut their output.Countries such as India, Brazil, and China are heavily dependent on Gulf fertiliser exports, with India sourcing over 40% of its urea and phosphate fertilisers from the region. A prolonged fertiliser shortage and hike in fertiliser prices could lead to reduced crop yields, affecting food security worldwide.The urea export prices from the Middle East have surged by about 40%, rising from just less than $500 to a little more than $700 per metric tonne. The price is currently close to 60% higher than this time last year.According to one shipping services company, 20% of the world's fertiliser originates in the Gulf, while 46% of global urea supply comes from the Gulf. Qatar Fertiliser Company (QAFCO), considered the world's largest urea supplier, alone supplies 14% of the world's urea.Analysis by Kpler, a data and analytics company, shows that as much as one-third of global fertiliser trade could be disrupted if the closure of the Strait of Hormuz persists. This could lead to nitrogen fertiliser prices doubling and phosphate prices climbing by about 50%.

Nigerian President Bola Tinubu was welcomed by UK's King Charles III at Windsor Castle on Wednesday, marking the first state visit by the leader of Africa's most populous nation in nearly four decades.The visit, which concludes on Thursday, highlights the deep cultural and commercial links between the UK and Nigeria, with trade between the two countries currently at a record high.During the visit, Tinubu and his wife were greeted with artillery salutes and shown items from the UK's colonial rule of Nigeria, which ended in 1960. A lavish state banquet was also held in their honor.The Nigerian presidency described the visit as a 'renewed chapter' in UK-Nigeria relations, reflecting a shared commitment to 'advancing trade and strengthening diplomatic ties'.Tinubu is also expected to meet with British Prime Minister Keir Starmer and members of the Nigerian community in the UK. Notably, the visit went ahead despite a deadly bombing in northeastern Nigeria's Borno State on Monday, which killed 23 people and injured over 100.

The conflict between Iran and Israel has taken a significant turn, with oil prices skyrocketing to unprecedented levels. Analysts are now warning that prices could reach $150 or even $200 per barrel, a scenario that was previously considered far-fetched.The global benchmark, Brent crude, has hit nearly $120 per barrel and has remained above $100 since March 13. The recent Israeli strike on Iran's South Pars gasfield and subsequent Iranian attacks on oil and gas facilities in Qatar, Saudi Arabia, and the United Arab Emirates have further pushed crude prices up to over $108 per barrel.The Strait of Hormuz, which accounts for about one-fifth of global oil supplies, has been effectively closed since Iran declared it shut early in the conflict. Only a handful of ships, mostly Indian, Pakistani, Turkish, and Chinese-flagged vessels, have been allowed to pass through in recent days.Market watchers agree that prices have room to move much higher if the Strait of Hormuz remains closed. Vandana Hari, founder of Vanda Insights, notes that benchmark Middle Eastern crudes have already crossed the $150 threshold, making $200 a possibility.The International Monetary Fund estimates that every 10% rise in oil prices would correspond with a 0.4% increase in global inflation and a 0.15% reduction in economic growth. Oil prices at $150 or higher would weigh heavily on the global economy.Adi Imsirovic, an energy expert at the University of Oxford, warns that oil at $200 per barrel would be a major handbrake to the world economy, impacting inflation, growth, employment, and potentially causing shortages of fuel and materials.

The trial in San Francisco centers on a class-action lawsuit filed against Elon Musk, who is accused of engaging in a pattern of deceptive behavior that misled investors as he attempted to back out of his $44bn deal to buy Twitter, now known as X, in 2022.Musk's claims about the number of bots on Twitter were a key part of his argument for backing out of the deal. He testified that Twitter had a much higher number of fake and spam accounts than the 5 percent it disclosed in regulatory filings, claiming it was actually around 20 percent. However, Twitter's former CFO Ned Segal disputed this claim, saying the number was closer to 1 percent.The trial has significant implications for Musk, whose fortune is now estimated at $839bn. If the court rules in favor of the shareholders, Musk could be liable for damages. The case highlights the challenges of navigating complex financial deals and the importance of transparency in corporate transactions.Closing arguments are set to begin on Tuesday, with the jury instructed to consider the evidence presented during the trial. The case has been closely watched by investors and observers, who are eager to see how the court will rule on the matter.

Oil prices are continuing to rise as markets see no end in sight to the effective closure of the Strait of Hormuz. The critical waterway, which usually transports about one-fifth of the global oil supply, has been brought to a standstill by Iran in retaliation for US and Israeli strikes on the country.Brent crude, the most important benchmark for global prices, rose as much as 3 percent on Sunday to top $106 a barrel, before easing slightly early on Monday to $104.63 a barrel, up nearly 1.5 percent. This represents a more than 40 percent increase in global oil prices since the start of the war.US President Donald Trump has called on other countries to help Washington reopen the Strait, but his proposal has received a muted response. None of the countries he appealed to by name – including China, Japan, France, and the UK – have publicly committed to deploying their navies to secure the strait. Japan and Australia have both stated they have no plans to send ships to the critical waterway.The closure of the strait has resulted in what the International Energy Agency has called the largest disruption to global energy supplies in history. According to the United Kingdom Maritime Trade Operations (UKMTO) centre, no more than five ships have passed through the strait each day since the start of the war, compared with a historical average of 138 daily transits. At least 16 commercial vessels have been attacked in the region since the war began on February 28.Trump has repeatedly stated he is willing to deploy the US Navy to escort commercial shipping through the strait if necessary. However, Trump administration officials have said that warships will not be deployed to the waterway until Tehran's military capacity has been further degraded.

Iran has started to permit a limited but increasing number of commercial vessels to transit the Strait of Hormuz, as indicated by ship tracking data. On Monday, eight non-Iranian flagged vessels were detected in the strategic waterway. This represents a notable increase, with MarineTraffic recording nine transits on Monday and Sunday, compared to just five over the preceding two days. According to Michelle Wiese Bockmann, an analyst at Windward, the growing number of ships rerouting via Iran's territorial waters suggests that Tehran is granting 'permission-based transits to friendly countries.' The Strait of Hormuz, a critical passage that normally carries about one-fifth of global oil supplies, has seen traffic plummet by more than 95 percent since the onset of the conflict between the US, Israel, and Iran. This drastic reduction has led to a surge in oil prices, which have risen above $100 per barrel, an increase of over 40 percent. Iranian officials have issued mixed messages regarding the strait's status. Iranian Minister of Foreign Affairs Abbas Araghchi stated that the strait was 'open, but closed to our enemies'. Conversely, a spokesperson for the Islamic Revolutionary Guard Corps (IRGC) warned earlier in the month that any ship attempting passage would be set ablaze. The situation has drawn international attention, with US President Donald Trump asserting that Washington does not require other countries' assistance to secure shipping traffic through the strait. Meanwhile, the US military reported dropping bunker buster bombs on 'hardened' Iranian missile sites located near the strait, citing the risk these posed to international shipping.

Israeli military operations have escalated significantly with the destruction of the Qasmiyeh Bridge, a critical infrastructure link connecting southern Lebanon to the rest of the nation. President Joseph Aoun characterized the strike as a “prelude to ground invasion,” suggesting a strategic shift in the ongoing conflict.The assault follows a directive from Israeli Defense Minister Israel Katz to dismantle all crossings over the Litani River and demolish homes in border villages. Analysts note that this strategy mirrors tactics employed in Gaza, aiming to create buffer zones by clearing territory near the border.Aoun argued that the attacks are designed to sever the geographical connection between the southern Litani region and the central government, a move he described as part of a scheme to establish a permanent buffer zone and facilitate Israeli expansion within Lebanese territory.Israeli military leadership has signaled that the operation against Hezbollah is far from over. Lieutenant General Eyal Zamir stated that the campaign would be “prolonged” and that preparations for targeted ground operations are underway.Diplomatic tensions remain high as French Foreign Minister Jean-Noel Barrot expressed reservations to his Israeli counterpart regarding a potential ground operation of significant scale and duration.Humanitarian organizations are sounding alarms over the widening conflict. Ramzi Kaiss of Human Rights Watch warned that wholesale destruction of homes and bridges constitutes wanton destruction, a potential war crime. He emphasized that isolating the southern region would create a humanitarian catastrophe, cutting off access to essential supplies like food and medicine.The conflict has already claimed significant lives, with Lebanon's Health Ministry reporting 1,029 deaths and over one million displaced civilians in just three weeks. On the Israeli side, the first civilian death linked to fire from Lebanon was recorded, alongside the deaths of two Israeli soldiers.

The conflict in the region has intensified, with Iraq becoming a two-way battlefield between armed factions and the United States during its war with Iran. The US carried out strikes against the Shia paramilitary umbrella group, also known locally as Hashed al-Shaabi, late on Sunday after attacks on a US diplomatic and logistics centre at Baghdad International Airport.The attack was carried out after Iraqi security officials said four explosions were heard near Camp Victory, a US logistics centre at the capital’s main airport. No casualties were reported as the positions were deserted.The PMF is part of Iraq’s regular armed forces and includes some pro-Iranian groups. Pro-Iran armed groups have claimed responsibility for attacks on US interests in Iraq and across the region while strikes have also targeted these groups.Economic worries also are weighing heavily after Iraq’s Ministry of Oil last week announced a case of force majeure on all oilfields developed by foreign oil companies, citing disruptions to navigation through the Strait of Hormuz, which have halted most of the country’s crude exports.“Iraq relies on that revenue,” said Nicolas Haque, a reporter from Iraq’s capital. “That’s 90 percent of its revenues, so that’s going to have an impact on people.”US President Donald Trump on Saturday threatened to attack Iran’s power plants if freedom of navigation through the Strait of Hormuz was not fully restored in 48 hours. On Monday, hours before his deadline was to expire, Trump ⁠ordered the US ⁠military to postpone ⁠strikes ⁠against the power plants for five days.

Israeli settlers carried out coordinated attacks on multiple towns and villages in the occupied West Bank for the second consecutive night, resulting in at least nine Palestinian injuries. The violence took place during the Eid al-Fitr holiday, marking the end of Ramadan.In one incident, a 45-year-old man was shot in the foot during a confrontation with Israeli settlers in Deir al-Hatab, east of Nablus. The Palestine Red Crescent Society (PRCS) reported that a 47-year-old Palestinian man was attacked by settlers in Jabal al-Arma in Beita, while others were beaten.The attacks were widespread, with homes and cars set ablaze and property vandalized across the occupied West Bank. Simultaneous assaults occurred in at least six communities, including villages near Jenin and Nablus.The violence followed a funeral for 18-year-old Yehuda Sherman, an Israeli settler killed in a collision with a Palestinian vehicle. Israeli police are investigating claims that the collision was deliberate.The Israeli government's expansion of illegal settlements in the occupied West Bank has been met with international criticism. The United Nations Office for the Coordination of Humanitarian Affairs reported that 25 Palestinians have been killed by Israeli settlers and soldiers so far this year.Amnesty International condemned the expansion of illegal settlements and state-backed settler violence, calling it a "direct indictment of the international community's catastrophic failure" to take action. The International Court of Justice ruled in 2024 that Israel's continued presence in the occupied Palestinian territory is unlawful and should end "as rapidly as possible".