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Global financial markets experienced a significant shift on Wednesday as oil prices plummeted and stock markets rallied following comments from US President Donald Trump. He suggested that the conflict in Iran would be resolved within 'two to three weeks'.The international benchmark for oil, Brent crude, fell as low as $98.35 a barrel, marking a decline of over 15% from the previous day and its lowest level in a week. It later recovered slightly, trading down 2.5% at $101.Stock markets in Asia saw substantial gains, with Japan's Nikkei surging 5%, South Korea's Kospi jumping 8%, Hong Kong's Hang Seng rising 2%, and China's CSI 300 index up 1.7%. European markets also followed suit, with the UK's FTSE 100 up 1.8% and the Europe Stoxx 600 index rising 2.2%.Trump's comments on Tuesday sparked a relief rally in the US stock market, with the S&P; 500 rising 2.9%. He stated, 'Now we're finishing the job. I think in two weeks or maybe a few days longer, we'll do the job. We want to knock out everything they've got.'Market analysts are cautiously optimistic, with Emma Wall, chief investment strategist at Hargreaves Lansdown, noting that markets are 'choosing to believe the optimism from the White House.' However, she also warned that energy disruptions could continue for months, impacting inflation and economic growth.The prospect of interest rate rises in the UK has diminished, with money markets pricing in about 41 basis points of increases to the UK bank rate by the end of 2026, down from 66 basis points anticipated on Tuesday.The price of gold rose to its highest level in almost two weeks, up 0.8% to more than $4,700 an ounce.

Cricket Australia released its 21‑man contract roster for the 2026‑27 season, rewarding most Ashes‑winning players but leaving out Sam Konstas and veteran all‑rounder Glenn Maxwell as the board prepares for an unusually dense calendar. Fast‑bowler Brendan Doggett, who debuted in the opening Ashes Test at Perth last November, secured his first national contract. Meanwhile, opener Jake Weatherald retained an upgraded deal despite a modest series average of 22.33 runs. Both Michael Neser and spinner Todd Murphy were again awarded full contracts, reflecting the board’s focus on depth ahead of a schedule that kicks off with a two‑match home Test series against Bangladesh in August. Following the Bangladesh series, Australia will embark on ODI tours of Zimbabwe and South Africa, a home white‑ball series versus England, and a marathon stretch of 10 Test matches in 14 weeks. The latter includes contests against New Zealand, India and the historic 150th Anniversary Test at the MCG. Konstas, who burst onto the scene with a memorable 60‑run debut against India on Boxing Day 2024, failed to build on that promise, accumulating only 103 runs across nine further Test innings for an average of 16.30. The lack of consistency cost him a place on the new list. Despite the setback, selector chair George Bailey stressed that the 20‑year‑old’s journey is far from over. “He is highly talented and still on a development path,” Bailey said. “We saw encouraging signs toward the end of the season, with more consistent starts in the Sheffield Shield.” Bailey added that Konstas could feature in the upcoming Australia A tour to India, noting the board’s continued interest in his progress. Alongside Konstas and Maxwell, the contract cuts also affected Lance Morris, Jhye Richardson and Matt Short. Long‑time opener Usman Khawaja remains absent following his retirement. Weatherald’s contract renewal signals the selectors’ confidence in his potential to open the batting against Bangladesh, although Bailey cautioned that final selections will be made closer to each series, with extensive camp periods in Brisbane to fine‑tune the squad. Current contracted players: Xavier Bartlett, Scott Boland, Alex Carey, Pat Cummins, Brendan Doggett, Nathan Ellis, Cameron Green, Josh Hazlewood, Travis Head, Josh Inglis, Matthew Kuhnemann, Marnus Labuschagne, Nathan Lyon, Mitchell Marsh, Todd Murphy, Michael Neser, Steve Smith, Mitchell Starc, Jake Weatherald, Beau Webster, Adam Zampa.

The Iran war has triggered a massive energy shortfall in Asia, forcing governments to ramp up their use of coal, the dirtiest fossil fuel. Countries across the region, including South Korea, Thailand, the Philippines, India, and Bangladesh, are trying to compensate for a drop-off in imported energy, much of which comes from the Middle East.Climate experts have warned that the increased use of coal will have a devastating environmental impact, and that the energy crisis should be a wake-up call for governments to invest in renewables. The crisis has highlighted the importance of renewable energy for energy security in Asia.The global market has flipped within four weeks from a healthy supply surplus to a severe deficit, leading to price spikes and fuel shortages. Almost 30bn cubic meters of LNG has been removed from global supply chains, with over 80% of this loss affecting the Indo-Pacific region.Experts warn that it will take years to recover LNG supplies and that the crisis will have a lasting impact on the energy landscape in Asia. Governments are racing to overcome shortfalls, with some countries introducing measures to reduce energy consumption, such as four-day workweeks and remote work arrangements.

Tiger Woods announced he is pausing his golf career to focus on health and treatment after a police stop near his Jupiter Island, Florida home that led to a DUI suspicion charge.In a statement posted on X, Woods said, "I know and understand the seriousness of the situation I find myself in today. I am stepping away for a period of time to seek treatment and focus on my health. This is necessary in order for me to prioritize my well‑being and work toward lasting recovery." He added that he hopes to return "healthier, stronger, and more focused" and asked for privacy for his family.According to court records released Tuesday, Woods entered a plea of not guilty and has asked for a jury trial. The incident occurred on a residential road when his Land Rover clipped a truck, crossed a double yellow line, and rolled onto its driver’s side, causing roughly $5,000 in property damage to the other vehicle.Deputies observed several signs of impairment, including profuse sweating, bloodshot and glassy eyes, and lethargic speech and movements. Woods told investigators he had not consumed alcohol but had taken "a few" prescription medications, including Vicodin, blood‑pressure medication, and cholesterol medication. A search of his pocket uncovered two hydrocodone pills, a prescription opioid.While Woods refused a urine test for drugs, a breathalyzer showed no alcohol in his system. He was charged with misdemeanor DUI, property damage, and refusal to submit to testing. After a brief hospital clearance, he was held for the mandatory eight‑hour Florida detention period before posting $1,150 bail.Former President Donald Trump commented on the situation, noting Woods’ extensive injury history and stating, "He tested negative for alcohol... He lives a life of pain. He doesn’t have an alcohol problem, but he does have pain." Trump also mentioned Woods’ relationship with his former daughter‑in‑law, Vanessa Trump.Woods’ attorney, Douglas Duncan, filed a waiver of arraignment and a demand for a jury trial, moving his initial court appearance to a docket‑sounding hearing scheduled for May 5. The golfer has not competed in a PGA Tour event since July 2024, though he appeared in the TGL indoor league last week.Prior to the crash, Woods was listed for the US Senior Open and was undecided about playing in the upcoming Masters at Augusta National, leaving his future tournament schedule uncertain.

The Iraqi Ministry of Interior announced on Tuesday that an unidentified foreign journalist was seized by "unknown individuals" in Baghdad, though the reporter’s name was not disclosed in the initial statement.Security forces swiftly pursued the kidnappers, arresting one suspect and confiscating the vehicle used in the abduction. Authorities emphasized that investigations remain ongoing to locate all participants and secure the journalist’s release.This kidnapping comes as Iraq experiences a surge in violence linked to the broader US‑Israel war on Iran. Recent weeks have seen attacks on Iraqi security forces in Anbar province and elsewhere, underscoring a volatile security environment.The Committee to Protect Journalists (CPJ) expressed deep concern after media reports identified the victim as U.S. freelance journalist Shelley Kittleson. CPJ’s Middle East regional director, Sara Qudah, urged Iraqi authorities to "do everything in their power to locate Shelley Kittleson, ensure her immediate and safe release, and hold those responsible to account."U.S. State Department official Dylan Johnson confirmed that Washington is "aware of the reported kidnapping of an American journalist" in Baghdad. He noted that the State Department had previously issued a warning to the journalist about threats and that it is coordinating with the FBI to facilitate a swift release.Johnson also revealed that Iraqi authorities have taken into custody an individual with ties to the paramilitary group Kataib Hezbollah, who is believed to be involved in the kidnapping.Press‑freedom advocates have repeatedly called on the Iraqi government to strengthen protections for journalists. Reporters Without Borders warned that journalists face "threats from all sides" amid political instability and financial pressure, noting that abductions are often employed to "terrorise and silence" media workers.CPJ has documented a series of press‑freedom violations since the war began on February 28, including a mid‑March assault on a television crew in Kirkuk allegedly carried out by fighters affiliated with the Popular Mobilization Forces (PMF), a faction of Iraq’s armed forces with Iran‑aligned elements.

Amid the escalating United States‑Israel confrontation with Iran, parliamentary speaker Mohammad Bagher Ghalibaf has emerged as an unexpected voice on financial strategy, posting a series of warnings on X that market‑moving headlines are often engineered to trigger profit‑taking. Ghalibaf’s core advice is simple yet provocative: if a headline inflates prices, bet against it; if it drags prices down, go long. He describes pre‑market news bursts as a “reverse indicator” designed to manipulate investors. His posts are laced with sarcasm, referencing alleged manipulation of oil futures and even joking about turning rhetoric into “actual fuel at the pump.” Behind the humor, analysts say, lies a calculated effort to exploit the overlap between digital propaganda and real‑world conflict. The backdrop to Ghalibaf’s messaging is Iran’s use of asymmetric warfare, notably the brief shutdown of the Strait of Hormuz—a chokepoint through which roughly 20% of global oil and LNG shipments pass. The closure sent crude prices soaring and heightened economic pressure worldwide, underscoring Tehran’s ability to influence U.S. markets by targeting critical supply routes. On March 22, Ghalibaf warned financial institutions that support U.S. military financing in the Middle East, declaring that U.S. Treasury bonds are “soaked in Iranians’ blood” and that their portfolios were under surveillance. Economist Jo Michell of the University of the West of England observes that falling equity markets, rising energy costs, and higher interest rates could eventually force President Donald Trump to seek a diplomatic exit from the conflict. Michell notes that Trump often delivers his most aggressive statements over weekends when markets are closed, only to retreat before the opening bell—a pattern traders have dubbed TACO (“Trump always chickens out”). Indeed, when Trump’s original 48‑hour deadline for Iran to reopen the Strait of Hormuz loomed, he extended it by five days and later pledged a further 10‑day pause on attacks against Iranian energy infrastructure, actions that analysts interpret as deliberate market signaling. Middle‑East specialist Zeidon Alkinani explains that the conflict’s volatility creates new leverage points beyond direct price manipulation. Even light‑hearted rhetoric from officials like Ghalibaf can exacerbate market instability, as investors scramble for any hint of the war’s trajectory. In this environment, uncertainty itself becomes a powerful market driver. Alkinani stresses that the significance of the Strait of Hormuz now extends beyond physical oil flow disruptions; it reshapes investor expectations and amplifies the impact of digital messaging, especially given Trump’s high‑visibility online presence. Overall, Ghalibaf’s social‑media campaign illustrates how Tehran is blending military pressure with information warfare, turning market sentiment into an additional front of the broader geopolitical struggle.

The United Nations Development Programme (UNDP) released a stark assessment on Tuesday, projecting that a four‑week US‑Israel conflict with Iran could slash Arab regional GDP by 3.7 % to 6 %. In monetary terms, the loss translates to a contraction of $120 billion to $194 billion, marking one of the deepest economic shocks in recent Middle‑East history. UNDP’s regional director, Abdallah Al Dardari, warned that the downturn would likely eliminate 3.7 million jobs and drive around four million additional people below the poverty line. He described the situation as exposing the “fragility of the Arab economy.” The analysis is based on a scenario of a “short but intense conflict lasting for four weeks.” Should hostilities extend beyond that window, the economic fallout could be even more severe, especially as Iran’s attacks on Gulf energy infrastructure tighten oil and gas flows through the Strait of Hormuz. Amid tightening supplies, Brent crude futures surged 4.7 % to over $118 per barrel. The report highlighted that disruptions to “strategic maritime corridors” generate “knock‑on effects on inflation, trade flows, and global supply chains,” threatening the livelihoods of interconnected economies across the region. Poverty spikes are expected to be most pronounced in the Levant and in “fragile” states such as Sudan and Yemen, where baseline vulnerability is already high and economic shocks translate quickly into welfare losses. Lebanon faces a compounded crisis after Hezbollah’s retaliatory strikes against Israel, following the US‑Israeli killing of Iran’s Supreme Leader Ayatollah Ali Khamenei on 28 February. Ongoing air strikes, evacuation orders, and widespread destruction of residential areas, transport networks, and public services have triggered large‑scale displacement. Al Dardari concluded with a plea: “We hope the fighting will stop tomorrow, as every day of delay has negative repercussions on the global economy.”

During an emergency session of the United Nations Security Council, humanitarian chief Tom Fletcher pressed members to outline concrete measures for safeguarding Lebanese civilians as Israel intensifies its ground offensive and aerial bombardment.Fletcher highlighted the stark parallel between Israel’s stated objectives in Lebanon and the ongoing genocidal war in Gaza, asking the council how it intends to prevent a repeat of the humanitarian catastrophe witnessed there.Since the escalation on 2 March, more than 1.1 million people have been forced from their homes across Lebanon, a displacement surge linked to Israel’s retaliatory strikes after Hezbollah fired missiles into northern Israel.In a video address, Israeli Defence Minister Israel Katz announced that, once the current operation concludes, the Israeli army will establish a security zone extending to the Litani River and maintain control over the area, effectively creating a new occupied territory.Israeli forces have pushed deeper into the south this week, claiming the moves are necessary to shield northern Israeli communities from missile attacks. Human‑rights organisations have condemned the expansion, warning that targeting civilian infrastructure and preventing residents from returning would exacerbate the crisis.The heightened conflict has also claimed the lives of three UN peacekeepers. Two Indonesian soldiers were killed on Monday when an unexplained explosion destroyed their vehicle near the village of Bani Haiyyan, while a third Indonesian peacekeeper died the previous day after a projectile detonated at a UNIFIL post near Aadshit al‑Qusayr.UN Under‑Secretary‑General for Peace Operations Jean‑Pierre Lacroix said early investigations suggest a roadside blast was responsible for the Monday deaths, emphasizing that such incidents must not occur and that peacekeepers should never be targeted.A spokesperson for Secretary‑General Antonio Guterres condemned the attacks, stating they breach international law and could constitute war crimes. The statement called for accountability and urged all parties to uphold their legal obligations to protect UN personnel and property at all times.

Coordinated strikes by United States and Israeli forces hit Tehran, Isfahan and several other Iranian cities on Tuesday, prompting widespread power outages and extensive damage to civilian sites. The Ministry of Energy confirmed that shrapnel from the raids ruptured a primary power‑transfer line, but the outage was restored within a few hours. Among the most critical targets was the Tofigh Darou pharmaceutical complex in the Karaj industrial zone. The facility, which supplies over 90% of Iran’s domestically produced medicines—including cancer and multiple‑sclerosis treatments—sustained heavy damage from multiple projectiles. In central Iran, Isfahan endured a barrage of heavy bunker‑buster bombs over a nearby mountainous area, likely aimed at military installations. The explosions triggered secondary blasts that illuminated the night sky and produced reverberating shockwaves across the city. North‑west of Tehran, in Zanjan, a building identified as the administrative department of the Hosseinieh Azam religious centre was struck, resulting in at least four fatalities and several injuries. Iranian authorities now claim that more than 2,000 people have been killed by US‑Israeli attacks since the conflict erupted on 28 February, with residential blocks, schools, hospitals and historic sites also affected. Additional targets this week included civilian nuclear facilities, major steel producers, petrochemical plants, and the Iran University of Science and Technology, where an imaging satellite was developed. A professor linked to Iran’s missile programme and his two children were assassinated at their home in northern Tehran. U.S. President Donald Trump reiterated threats to strike Iran’s oil and gas infrastructure, power plants and water‑desalination facilities. Despite the onslaught, the Islamic Revolutionary Guard Corps (IRGC) continues to project defiance. A spokesperson for the Khatam al‑Anbiya Central Headquarters declared that Tehran’s adversaries are “humiliated and on the path of destruction,” while senior commander Ali Fadavi warned that American warships are vulnerable and allegedly transmit false transponder signals. The IRGC also released footage of ballistic missiles aimed at Israel and surrounding nations, and claimed to have downed two U.S. MQ‑9 Reaper drones, promising retaliatory strikes against technology firms linked to the United States and Israel. Domestically, the judiciary announced the execution of two members of the foreign‑based Mojahedin‑e‑Khalq (MEK) group, labeling them terrorists. This follows a series of recent executions tied to the January protests and broader dissent. Authorities also issued new indictments against roughly 200 individuals accused of assisting the U.S. and Israel, including alleged “mercenaries” who disseminated strike footage abroad. Penalties for national‑security offenses now encompass asset confiscation and capital punishment. President Masoud Pezeshkian convened his first cabinet meeting since the war’s onset in a makeshift, blue‑covered space, emphasizing that any peace negotiations will safeguard Iran’s “dignity, security and national interests.” Israel’s Channel 14 reported that Pezeshkian sought greater negotiating leverage with the United States, a request allegedly rebuffed by IRGC chief Ahmad Vahidi.