Breaking AI & Tech News Analyzed

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.

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.

The conflict in the Middle East is having far-reaching effects beyond the region, impacting UK mortgage rates and consumer confidence. In response to surging oil prices and inflation fears, lenders have pulled hundreds of mortgage products, replacing them with more expensive deals.According to Halifax, average UK house prices fell by 0.5% in March, with demand affected by higher mortgage rates. The Guardian wants to hear from individuals who have lost mortgage deals or been affected by rising interest rates.Share your experience by completing a short form or messaging the Guardian on WhatsApp at +447766780300. Responses can be anonymous, and submissions will be kept secure.The Guardian is seeking stories from people who have:Lost recent mortgage dealsBeen affected by rising interest ratesChanged housing plans due to the current economic climateAll submissions will be reviewed and potentially published, with the option to remain anonymous.

The US inflation rate experienced a significant surge in March, rising to 3.3% over the year, with prices increasing by 0.9% compared to the previous month. This spike is largely attributed to the escalating conflict with Iran, which has resulted in a substantial increase in energy prices.The Consumer Price Index (CPI) for energy rose by 10.9% in March, primarily driven by a 21.2% increase in gasoline prices. This increase accounted for nearly three-quarters of the monthly all-items increase. Airfares also saw a notable rise, increasing by 2.7% in March and 14.9% higher than a year earlier.Core inflation, which excludes volatile food and energy prices, rose at a more modest 0.2% over the month and was 2.6% higher over the year. The annualized inflation rate has not exceeded 3% since summer 2024.The conflict with Iran has driven the American economy into deeper uncertainty, adding to the precariousness that began with Donald Trump's tariffs last year. The war has also led to a rise in oil prices, with US crude oil priced 10% higher than before the conflict and nearly 30% higher since the start of the year.Recent data shows that prices are affecting producers, with the gross domestic product (GDP) for the last quarter of 2025 revised down from an initial 1.4% to 0.5%. The prices index in the Institute for Supply Management's survey of managers saw its largest one-month increase in 13 years, rising from 63 in February to 70.7 in March.Consumer confidence is also falling, with the University of Michigan's closely-watched consumer confidence survey recording a 10.7% drop to its lowest level on record. Survey director Joanne Hsu noted that many consumers blame the Iran conflict for unfavorable changes to the economy.Despite the challenges, the labor market appears resilient, with employers adding 178,000 jobs in March and the unemployment rate falling to 4.3%. However, the Federal Reserve faces a tricky situation in adjusting interest rates amid the conflict, as raising rates could help curb inflation but risk destabilizing the labor market and increasing unemployment.

Protesters in Ireland and Norway have escalated demonstrations against rising fuel costs, turning major highways into blockades and prompting a convoy of lorries to converge on Oslo’s parliament. The unrest is linked to the broader spike in oil prices triggered by the conflict in the Middle East. In Dublin, hauliers, farmers and other groups have shut down motorways for the fourth consecutive day, causing fuel shortages, traffic chaos and warnings that essential supplies—food, clean water and animal feed—are at risk. The Irish police force, An Garda Síochána, described the blockades as unlawful and warned that continued defiance could lead to arrests. The Irish government has placed the army on standby to clear the obstructions, while the justice minister accused outside actors, including far‑right figures such as Tommy Robinson, of exploiting the protests for political gain. Fuel prices have surged dramatically: Irish diesel has risen from roughly €1.70 per litre to €2.17, and petrol from about €1.74 to €1.97. In Norway, despite a recent fuel‑tax cut on 1 April, diesel prices jumped 23.6 % from February to March, with overall fuel and lubricants up 17.9 %. Statistics Norway noted this as the steepest month‑on‑month increase on record, comparable only to the post‑Ukraine‑invasion spike of spring 2022. Irish Prime Minister Mícheál Martin warned that blockades of the Whitegate refinery and key depots in Galway and Foynes were pushing the country to the brink of turning away oil shipments. He called the situation “unconscionable and “illogical.” In response, Dublin unveiled a €250 million relief package that includes a temporary excise duty cut, an expanded diesel rebate for hauliers and bus operators, and an extended fuel allowance. Nevertheless, industry leaders remain skeptical about the measures’ ability to quell the unrest, and many protesters demand direct talks with ministers. Across the North Sea, Norwegian demonstrators—part of the “Dieselbrølet” (diesel roar) movement—marched a convoy of 70‑80 trucks toward the Storting. Their banners read “nok er nok!” (enough is enough). While only a few vehicles were permitted into Oslo, the show underscored hauliers’ demand for more predictable, lower fuel prices despite Norway’s status as an oil producer. Other nations have taken emergency steps: the Philippines declared a national energy emergency, and France authorized fuel tankers to operate on weekends and holidays until 11 May to stave off shortages. Back in Ireland, the blockade of the sole refinery and depots has left dozens of petrol stations empty, prompting a rush of motorists to fill up before supplies run out. Emergency services report slower response times, and the Irish Medical Organisation warns that delayed care could jeopardise patient health. Courier firm DPD has halted deliveries, and protesters have vowed to remain in Dublin for weeks, with spokesperson John Dallon stating, “If it takes a month, we are prepared to sit here.” The crisis has also forced the Irish Taoiseach to postpone a trade mission to Canada, highlighting the domestic political fallout of the fuel‑price turmoil.

Saudi Arabia has halted operational activities at several energy facilities due to recent attacks, according to the Saudi Press Agency. The attacks targeted oil, gas, and electricity sites in Riyadh, the Eastern Province, and Yanbu Industrial City.The attacks resulted in the death of one Saudi national from the industrial security personnel of the Saudi energy company, with seven others injured. The attacks have reduced the kingdom's oil production capacity by approximately 600,000 barrels per day.The Gulf countries, including Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Oman, and Qatar, have faced repeated drone and missile attacks from Iran over recent weeks. These attacks have contributed to increased volatility in the oil market, affecting the security of supply for consuming countries.Oil prices have jumped upward as the world weighs the prospects of a shaky Iran-US ceasefire and possibly the full reopening of the Strait of Hormuz, a vital oil transit point that Iran has effectively blocked during the conflict.The ceasefire, announced by US President Donald Trump, has been placed in doubt due to Israel's ongoing daily attacks on Lebanon and Iran's attacks on the Gulf countries. Several leaders around the world have called for Lebanon to be included in the ceasefire.

The global energy crisis has been labeled 'the mother of all crises' by Turkish Energy Minister Alparslan Bayraktar, as tensions in the Strait of Hormuz continue to escalate. The crisis, sparked by Iran's retaliatory blocking of the strait, has significant implications for global energy supplies and security.Bayraktar, in an exclusive interview with Al Jazeera Arabic, highlighted the importance of diversifying energy routes to mitigate the impact of such crises. He noted that Turkey, with its strategic location between Asia and Europe, has become a pivotal country in the region, hosting key pipelines such as the 'Blue Stream' and 'TurkStream'.The minister emphasized that Turkey is well-suited to weather the crisis, with sufficient strategic energy reserves, including gas storage facilities that are 72 percent full, compared to Europe's 28 percent. However, he warned that rising oil and gas prices still burden the state budget, with an increase of $1 per barrel costing Ankara approximately $400 million.Bayraktar also discussed the potential for a new energy architecture to emerge, driven by the need for diversification. He proposed several projects, including the transportation of Turkmen gas across the Caspian Sea to Turkey and Europe, extending the Iraq-Turkey oil pipeline to reach Basra, and constructing a natural gas pipeline from Qatar to Turkey.The crisis has significant economic implications, with oil prices potentially rising to $200 per barrel in a worst-case scenario, which could lead to another global recession. Bayraktar stressed the importance of a lasting peace in the region to stabilize energy markets and prevent further economic damage.

The recent showdown between the US and Iran has ended with Iran emerging victorious and Trump being forced to pause his war efforts. This outcome is a clear example of how to defeat Trump. According to Robert Reich, a former US secretary of labor, the strategy that connects all the successful countermeasures against Trump is simple: refuse to cave to his demands, despite his superior military or economic power. Instead, use a kind of jiujitsu to turn Trump's power against him. Examples of successful countermeasures include: Iran using cheap drones and missiles to close the strait of Hormuz and drive up oil prices, putting pressure on Trump. China leveraging its control of rare earth metals to gain leverage in trade negotiations. Russia using its vast deposits of oil and natural gas to gain leverage over US allies. Canada and Mexico winning tariff showdowns with Trump by leveraging their economic importance to the US. Greenland curbing Trump's ambitions through public opinion. Inside the US, similar strategies have been used by: The people of Minneapolis, who organized non-violent resistance to protect immigrants. Harvard University, which leveraged its influence with federal courts to stop Trump's interference. Comedian Jimmy Kimmel, who turned a crisis into a ratings victory. Writer E Jean Carroll, who secured over $88m in damages from Trump in two civil cases. Law firms like Perkins Coie, Jenner & Block, Susman Godfrey, and WilmerHale, which refused to follow Trump's executive orders. On the other hand, countries and organizations that have caved to Trump have only strengthened his leverage over them. For example, Europe seems incapacitated, fearing Trump will leave Nato, while media networks like ABC continue to lose viewers. The bottom line is that there is now a clear blueprint for how to defeat Trump: reject his demands and use your own asymmetric power to turn his power against him.

In a stark address delivered as the cease‑fire in the Iran conflict teetered, IMF Managing Director Kristalina Georgieva warned that the war will leave a permanent scar on the global economy, slowing growth beyond the IMF’s original projections for 2026. Georgieva noted that, had the hostilities not erupted six weeks ago, the Fund would have been poised to raise its 2026 growth outlook. Instead, even the most optimistic scenario now entails a downgrade, and a swift return to pre‑war conditions appears unlikely. The uncertainty surrounding the cease‑fire—exacerbated by divergent positions of Washington and Tehran—has already pushed oil prices higher, reflecting fears of continued disruptions to shipments through the Strait of Hormuz, a vital conduit for world energy supplies. According to the IMF’s upcoming World Economic Outlook, the conflict’s “scarring effects” will translate into lower living standards worldwide. The Fund had previously forecast global growth of 3.1% in 2026, a modest slowdown from 3.2% in 2025, buoyed by a tech‑driven investment surge. Georgieva emphasized that the war arrived when the economy was riding “considerable momentum” from technology investment and supportive financial markets. She outlined the mechanisms of damage: damaged infrastructure, supply‑chain interruptions, eroded confidence, and prolonged uncertainty over oil and gas production in the region. These factors will depress growth regardless of whether a peace agreement is ultimately reached. Georgieva highlighted that the most vulnerable will be net oil‑importing nations, poorer economies and small island states, which stand to feel the brunt of higher energy costs and reduced trade flows. She urged governments to avoid unilateral measures such as export bans or price controls, warning that such actions could "pour gasoline on the fire" and further destabilise markets. With many countries already carrying elevated debt levels and higher borrowing costs, the IMF chief called for targeted, temporary assistance to protect the most at‑risk households. She cautioned against broad tax cuts or blanket energy subsidies, which could stoke inflation and strain fragile public finances. Central banks, she added, should keep policy rates steady while remaining ready to act against inflationary pressures. Bank of England Governor Andrew Bailey, who also chairs the Financial Stability Board, echoed the IMF’s concerns, describing the conflict as a "very big shock" that has heightened market volatility. He stressed that the situation remains fluid and that policymakers must stay vigilant. Overall, the IMF’s message is clear: the Iran war will reshape the global growth trajectory for the foreseeable future, and coordinated, prudent policy responses are essential to mitigate its lasting impact.