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US President Donald Trump has requested a delay in his highly anticipated trip to China, initially scheduled for March 31-April 2, by about a month. The decision comes amid the ongoing US-Israeli war on Iran, which has resulted in significant escalation of tensions in the Middle East. “We've requested that we delay it a month or so,” Trump told reporters at the White House on Monday. “There's no tricks to it either. It's very simple. We've got a war going on. I think it's important that I be here.” The delay underscores how the Iran war has upended Trump's foreign policy agenda and risks magnifying tensions between Washington and Beijing. The war has joined trade and Taiwan as among the spectrum of issues separating the world's two biggest economies. Trump's request has been largely rebuffed so far, with China not directly responding to his request to help unblock the Strait of Hormuz, which Iran says is closed to US and Israeli-linked vessels. The Strait of Hormuz is a critical waterway through which one-fifth of the world's oil usually transits. US Secretary of the Treasury Scott Bessent said earlier on Monday that Trump may need to delay the trip due to coordinating the war effort, not because of China's unresponsiveness to Trump's request or because of any trade disagreements. “The president wants to remain in DC to coordinate the war effort. Traveling abroad at a time like this may not be optimal,” Bessent said. In related trade negotiations, the Chinese showed openness to potential additional purchases of US agricultural goods, including poultry, beef, and non-soya bean row crops, during talks with Chinese Vice Premier He Lifeng in Paris.

Asian stock markets experienced a significant downturn on Monday, with South Korea's KOSPI index plummeting 6.5% and Japan's Nikkei 225 falling 3.5%. The Hang Seng Index in Hong Kong tumbled more than 4%, while Australia's ASX 200 closed 0.75% lower and New Zealand's NZX 50 was down 0.7%.The turmoil was triggered by US President Donald Trump's ultimatum to Iran, warning the country to reopen the Strait of Hormuz or face the destruction of its energy infrastructure within 48 hours. The strait is a critical waterway through which about one-fifth of global oil and natural gas exports usually transit.Trump's threat has added to fears of a cascading global energy crisis as the US and Israel's war on Iran approaches its one-month mark with no clear end in sight. Oil prices have surged more than 50% since the start of the war, which began on February 28. Analysts warn that energy prices are likely to rise significantly further if the strait remains effectively closed, with some predicting oil to hit $150 or even $200 a barrel.In response to Trump's ultimatum, Tehran has warned it will completely close the waterway and launch retaliatory attacks on energy and water infrastructure across the region if Trump follows through on his threat. The deadline for Trump's ultimatum is set to expire at 23:44 GMT on Monday.European markets also saw significant losses, with London's FTSE 100 down 1.4% and the DAX 40 in Frankfurt falling about 2% in morning trading. On Wall Street, US stocks saw significant losses ahead of Monday's opening, with futures tied to the S&P; 500 down about 0.8% as of 07:00 GMT.

The world is currently experiencing a severe energy crisis, surpassing the combined impact of the 1970s oil shocks and the Ukraine war, according to Fatih Birol, Executive Director of the International Energy Agency (IEA). Speaking at a media event in Australia, Birol warned that the energy crunch prompted by the US-Israel war on Iran has exceeded the 1973 and 1979 oil shocks and gas shortages stemming from Russia's 2022 invasion of Ukraine.Birol stated that the crisis is equivalent to two oil crises and one gas crash combined. He noted that the effective closure of the Strait of Hormuz and attacks on energy facilities have reduced global oil supplies by about 11 million barrels per day (bpd), more than double the combined shortfalls of the 1970s crises. Additionally, liquefied natural gas (LNG) supplies have been reduced by about 140 billion cubic meters, compared to a shortfall of 75bcm in the aftermath of Ukraine's invasion by Russia.At least 40 energy facilities across nine countries have been severely damaged in the conflict, according to the IEA chief. Birol emphasized that the global economy is facing a major threat and expressed hope that the issue will be resolved soon.Birol also expressed concern that the scale of the crisis had not been fully understood, which prompted him to speak publicly about the situation. The IEA has proposed measures to reduce energy consumption, including facilitating remote working and carpooling, and lowering speed limits on motorways.The IEA chief is in consultation with different countries about releasing more strategic oil reserves if needed. However, he emphasized that the single most important solution to the crisis is to unblock the Strait of Hormuz, which usually carries about one-fifth of global oil and LNG supplies.

US President Donald Trump has taken to social media to mock UK Prime Minister Keir Starmer, sharing a Saturday Night Live (SNL) skit that depicts Starmer panicking at the prospect of a call with Trump. The skit, which aired on the premiere of the new British version of SNL, shows Starmer, played by George Fouracres, trying to avoid a call with Trump.The video was shared on the same evening that Trump and Starmer spoke about the escalating tensions in the Middle East and the US-Israel war on Iran. During their call, the two leaders focused on the need to reopen the Strait of Hormuz, which has been effectively blocked by Iran since the US and Israel launched strikes on February 28.The closure of the strait has sent oil prices soaring, creating the biggest energy crisis since the 1970s. Trump has repeatedly criticized Starmer for not doing enough to support the US efforts to break the blockade, accusing him of being a 'coward' and saying he is 'disappointed' in him.Starmer has asserted that any attempt to reopen the Strait of Hormuz needs careful consideration and a viable plan, and that his number one priority is to protect British interests and de-escalate tensions. The UK government has given authorization for the US to use its military bases to carry out strikes on Iranian missile sites that were attacking ships in the Strait of Hormuz.