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UK house prices experienced a significant increase in March, rising by 0.9% month-on-month, the largest gain since December 2024. This growth, reported by Nationwide, pushed the average UK house price to £277,186. On an annual basis, house price growth accelerated to 2.2% in March, up from 1% in February.Despite this positive trend, Nationwide warned that the outlook has been clouded by the US-Israel war on Iran, leading financial markets to expect the Bank of England to raise the base rate three times over the next 12 months, from the current 3.75%. This has resulted in a sharp rise in longer-term interest rates, which underpin fixed-rate mortgage pricing.As a result, mortgage rates have risen above 5% in recent weeks, with the average two-year fixed-rate mortgage reaching 5.77% and the five-year fixed-rate mortgage increasing to 5.7%. This rapid deterioration in affordability is expected to soften housing market activity.Northern Ireland continues to show the strongest growth in house prices across the UK, with a 9.5% year-on-year increase in the first quarter to £225,269. In contrast, two regions experienced year-on-year declines: the outer south-east of England (-0.7%) and East Anglia (-0.4%).

US President Donald Trump has stated that his 'preference would be to take the oil' in Iran, sparking concerns about the potential for a US invasion or occupation of the country. Iran is one of the world's biggest oil producers, holding around 24 percent of the Middle East's and 12 percent of the world's proven oil reserves, with about 157 billion barrels of proven crude oil.The Trump administration has threatened to target Iran's energy infrastructure, including oil wells, if Tehran does not reopen the Strait of Hormuz, which has been under a de facto Iranian blockade for weeks, triggering a global energy crisis. The US has also unveiled plans to prepare for limited ground operations in Iran, potentially including raids on Kharg Island and coastal sites near the Strait of Hormuz.Seizing Iranian oil would not be easy, as the US would have to occupy Iran's oil production sites and refineries, essentially occupying mainland Iran. However, if the US were to lift sanctions on Iranian oil after seizing it, it could lead to a flow of more Iranian oil into global markets, bringing down oil prices.The US-Israeli war on Iran has already sent global oil prices soaring, with benchmark Brent crude rising to more than 3 percent on Monday to $116 a barrel – the highest level in nearly two weeks. The oil price was about $65 per barrel before the war.In 2023, Iran's gross domestic product (GDP) was around $457.5bn, according to World Bank data. Iran's net oil export revenues were estimated at $53bn, equivalent to roughly 12 percent of Iran's GDP.This is not the first time the US has shown an interest in Iranian oil. In 1953, the government of Mohammad Mossadegh, Iran's first democratically elected prime minister, was toppled in a CIA-orchestrated coup after he nationalised the British-controlled firm Anglo-Iranian Oil Company (AIOC), the predecessor of modern-day BP.

Kuwait's Ministry of Electricity confirmed that an Iranian attack on a power and water desalination plant resulted in the death of an Indian worker and significant material damage to a service building. The attack is part of Iranian aggression against Kuwait, according to the ministry.Emergency response teams were quickly dispatched to the site to manage the aftermath and ensure continued operations. The incident occurred as regional tensions spike following the start of the US-Israeli war on Iran over a month ago.Iranian forces have retaliated against Israel and countries hosting US military assets with drone and missile strikes, causing casualties and infrastructure damage. The conflict has also led to Iran effectively blocking the Strait of Hormuz, a critical passage for 20% of global oil and liquefied natural gas, driving up energy prices and unsettling financial markets.The vulnerability of critical water infrastructure in one of the world's most water-scarce regions has been exposed by the war. Kuwait has faced repeated attacks since the conflict began, including the detection of 14 missiles and 12 drones in its airspace, with several targeting a military camp and injuring 10 servicemen.The US and Israeli attacks on Iran have killed over 2,000 people, including high-ranking officials and children, and destroyed critical infrastructure. The situation remains volatile, with US President Donald Trump pausing threatened attacks on Iranian energy plants until April 6, and Iran vowing to respond to any attacks on its facilities with strikes on energy sites across the Gulf region.

Spain has taken a firm stance against the US-Israel war on Iran by closing its airspace to US military aircraft involved in attacks. This decision, confirmed by Defence Minister Margarita Robles, underscores Spain's position as a leading critic of the conflict in Europe. The move forces military planes, including those based in the UK and other European countries, to bypass Spain when heading to targets in the Middle East, except in emergency situations. This development comes after Spain denied the US permission to use its military bases for operations related to the war. “We don’t authorise either the use of military bases or the use of airspace for actions related to the war in Iran,” Robles stated, emphasising Spain's clear stance. She described the war as “profoundly illegal and profoundly unjust.” Spanish Prime Minister Pedro Sánchez has been vocal in his opposition to the war, calling for the US, Israel, and Iran to cease hostilities. His statements have previously drawn criticism from former US President Donald Trump, who threatened to cut off trade with Spain. The decision to restrict airspace access could potentially worsen Spain's already strained relations with the White House. However, Economy Minister Carlos Cuerpo reiterated that Spain's stance is part of its broader refusal to participate in or contribute to a war initiated unilaterally and against international law. While US military aircraft can still use Spanish bases for logistics support under a bilateral agreement, 15 American KC-135 refuelling planes were recently diverted from bases in Spain to those in France and Germany.

In a significant diplomatic development, foreign ministers from Pakistan, Turkiye, Egypt, and Saudi Arabia have convened in Islamabad for crucial talks aimed at de-escalating the intensifying US-Israel war on Iran. The regional summit comes amid heightened tensions in the Middle East as international efforts intensify to prevent further conflict escalation.Adding complexity to the diplomatic landscape, Iran's Parliament Speaker Mohammad Bagher Ghalibaf has made a serious allegation, claiming that the United States is secretly plotting a ground attack against Iran despite public assertions of pursuing diplomatic channels to end the ongoing hostilities. This accusation raises questions about the sincerity of recent diplomatic efforts and suggests a significant disconnect between public statements and private intentions.The Islamabad meeting represents a coordinated regional response to the growing crisis, with neighboring nations attempting to play a constructive role in finding peaceful resolutions. The participation of these key countries underscores the widespread concern about the potential regional and global implications of the conflict.

Israeli police have taken unprecedented action by blocking Cardinal Pierbattista Pizzaballa, the Latin patriarch of Jerusalem, from entering the Church of the Holy Sepulchre on Palm Sunday. This move marks a significant escalation in tensions, as it is the first time in centuries that the Heads of the Church have been prevented from celebrating the Palm Sunday Mass at this sacred site.The Catholic Church strongly condemned the decision, describing it as a 'manifestly unreasonable and grossly disproportionate measure' that disregards the sensibilities of billions of people worldwide. The Church emphasized that this incident represents an extreme departure from basic principles of reasonableness, freedom of worship, and respect for the status quo.Israeli police cited safety concerns due to the ongoing US-Israeli war on Iran as the reason for closing all holy sites in Jerusalem. However, this explanation has been met with criticism from various countries, including Italy and France. Italian Prime Minister Giorgia Meloni described the incident as 'an offence not only to the faithful, but to any community that respects religious freedom.'The incident has sparked international condemnation, with French President Emmanuel Macron emphasizing that worship 'for all religions' must be guaranteed in Jerusalem. The Italian Foreign Minister Antonio Tajani also summoned Israel's ambassador over the incident, highlighting the growing diplomatic fallout.

The US-Israel war on Iran has entered its 30th day, with diplomatic efforts intensifying to bring an end to the conflict. Foreign ministers from Pakistan, Turkiye, Egypt, and Saudi Arabia are scheduled to hold talks in Islamabad, aimed at de-escalating the situation.The conflict has escalated across the Middle East, with Yemen's Houthis joining the war by firing missiles at Israel on Saturday. Tehran has threatened retaliatory attacks on Israeli and US universities in the region after the United States and Israel bombed Iranian universities.US-Israeli strikes have continued, with powerful explosions rocking Tehran on Sunday morning, killing two people and wounding five in a residential area. The Iranian Fars news agency reported that US-Israeli attacks also hit the Saadat Abad neighbourhood of northern Tehran and another residential area in the west of the capital.In the Gulf, Saudi Arabia intercepted and destroyed 10 drones in the early hours of Sunday, while the UAE Ministry of Defence said its air defences responded to missiles and drone threats. Emirates Global Aluminium reported that an Iranian attack on Saturday inflicted significant damage on one of its sites in Abu Dhabi and wounded six employees.Iran's power has been underestimated, according to Al Jazeera's Mohamed Vall, reporting from Tehran. He said that one month into the war, Iran has proved that its power was underestimated by the enemy, who thought that the war would be a short excursion and that the country would capitulate after just a few days of bombardment.The conflict has also led to protests in Lebanon, with protesters taking to the streets in Beirut after Israeli forces killed journalists Fatima Ftouni and her brother and colleague, Mohammed, of Al Mayadeen, as well as Al-Manar's Ali Shuaib on Saturday.In Israel, people took to the streets in Tel Aviv, rallying against the war and increased settler violence, as they clashed with police. The Israeli military announced the death of a soldier, Moshe Yitzhak HaCohen Katz, in southern Lebanon as Hezbollah's attacks on northern Israel continue.The US Central Command (CENTCOM) said some 3,500 additional soldiers arrived in the Middle East on board the USS Tripoli. The Washington Post reported that the Pentagon is preparing for weeks of ground operations in Iran, although Al Jazeera could not independently verify the report.

Pakistan's capital, Islamabad, has become a hub for diplomatic activity as key regional powers converge to address the escalating conflict between the US and Iran. Egyptian Foreign Minister Badr Abdelatty, Turkish Foreign Minister Hakan Fidan, and Saudi Foreign Minister Faisal bin Farhan Al Saud have arrived for talks with Pakistani Deputy Prime Minister Ishaq Dar. The meetings aim to bring an end to the US-Israeli war on Iran, which has entered its 30th day and caused a global energy crisis. The conflict has led to a significant increase in tensions in the Middle East, with 20 percent of the world's oil and gas supplies passing through the Strait of Hormuz, which has been choked by Iran. Pakistan is walking a diplomatic tightrope, with close defense ties to Saudi Arabia and cultural ties to Iran. The country is also home to the second-largest Shia population in the world after Iran. Analysts describe Pakistan's role as a 'very delicate balancing act' as it tries to bring the Americans and Iranians back to the negotiating table. The diplomatic push is driven by severe economic fears, with millions of Pakistani citizens potentially losing their jobs in the Gulf region if the conflict spreads. The stakes are existential for Islamabad, which risks a major crisis if energy supplies decline. Experts point out that the enormous economic costs borne by the Gulf countries have dropped drastically due to the closure of the Strait of Hormuz. Iranian drone and missile attacks have targeted energy and industrial facilities, forcing petroleum companies to declare force majeure on supply contracts. The Islamabad gathering serves as a foundational step for an 'Islamic alliance' designed to counter the Israeli project in the region, address geopolitical vacuums, and mitigate uncertainties surrounding future US involvement.

Recent air strikes on Iraq's Popular Mobilisation Forces (PMF) have resulted in the deaths of three PMF fighters and two Iraqi police officers. The attacks, which occurred near northern Iraq's Kirkuk Airport, also left two fighters wounded and six Iraqi soldiers injured.An Iraqi security source revealed that the double-bombing was part of the ongoing US-Israeli war on Iran, which has been spilling over into Iraq's eastern border. The PMF, a coalition now integrated into the regular Iraqi army, accused the US and Israel of a 'treacherous Zionist-American' attack.In a separate incident, Reuters reported that two members of the Iraqi police were killed in an air strike targeting the PMF in Mosul, approximately 105 miles northwest of Kirkuk. This development has contributed to the escalating tensions in the region.Al Jazeera's Nicolas Haque reported from Baghdad that Iraq is becoming an 'expanding battleground' in the crisis. The conflict began on February 28 with US-Israeli strikes on Iran and now threatens to engulf the region in a protracted conflict.The PMF, formed in 2014 to fight ISIL (ISIS), has been targeted by pro-Iran armed groups within the coalition. These groups have claimed responsibility for attacks on US interests in Iraq and beyond.Haque noted that the PMF takes its orders from Baghdad, but some factions are loyal to Tehran. This complex dynamic makes it challenging for Baghdad to manage the different factions effectively.Iraq finds itself 'on a tightrope' between the US and Iran, said Haque, due to its economic and security ties with both countries. The government must balance its relationships with its biggest neighbor, Iran, and the United States.In related incidents, two drones targeted an airbase serving as a hub for US and coalition forces near Erbil airport in Iraq's semi-autonomous Kurdish region. The US C-RAM air defence system successfully intercepted the drones.French President Emmanuel Macron described the increased attacks in Iraq as a 'worrying development' after speaking to Nechirvan Barzani, president of the Kurdish region.