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Global markets were jolted on Thursday as oil prices skyrocketed and stocks sank following a televised address by Donald Trump, in which he vowed to take 'extremely hard' action against Iran in the coming weeks. This development has dashed investor hopes of a swift resolution to the conflict in the Middle East.Brent crude prices jumped by 8% to surpass $109 a barrel, reversing the previous day's decline when hopes of de-escalation had briefly pushed the international benchmark below $100 a barrel.Asian markets were particularly hard hit, with Japan's Nikkei index falling 2.4%, China's CSI 300 index dropping 1.36%, and South Korea's Kospi tumbling 4.8%. In Europe, Germany's Dax fell 2%, France's Cac 40 dropped 1.15%, and Italy's FTSE Mib was down 1.45%. The FTSE 100 in London initially opened 0.7% lower but later stabilized, buoyed by gains in fossil fuel companies BP and Shell, which rose 4.5% and 3.1% respectively.Government borrowing costs also increased, with the yield on 10-year UK gilts rising four basis points to 4.886% and the two-year UK bond yield rising six basis points to 4.36%, reflecting growing fears of inflation due to higher energy costs.Chris Beauchamp, chief market analyst at IG, noted that investors are betting on the impact of delayed oil supply deliveries from the Gulf, given Trump's failure to provide guidance on a potential end to the US-Israeli conflict with Iran. 'Instead of 'no more war', we got 'no, more war!', Beauchamp said, highlighting the market's concerns about hundreds of millions of barrels of oil that may not be delivered soon.The US dollar gained 0.6% against a basket of major currencies as investors sought safe-haven assets, pushing the pound down by almost a cent to $1.321. The market turmoil is already affecting consumers, with the Bank of England warning that 1.3 million more homeowners may see their mortgage payments rise due to financial shocks from the Iran conflict.Additionally, data from the RAC showed that petrol and diesel prices jumped by a record amount in March, with the average price of a litre of unleaded petrol rising by 20p to 152.83p by the end of the month, surpassing the previous monthly record.

Russia's Ministry of Defence has declared that its forces have gained complete control over the Luhansk region in eastern Ukraine. This development comes as Moscow continues its efforts to expand its territorial control in the region. The ministry stated that units of the 'West' military grouping have completed the 'liberation' of the Luhansk People's Republic, a term used by Moscow to refer to the Ukrainian region. However, there was no immediate confirmation of this claim from Ukrainian authorities. Luhansk, along with Donetsk, forms the broader Donbas area. More than 99 percent of Luhansk has been under Russian control since the beginning of the 2022 invasion. The region was one of four Ukrainian territories annexed by Russia in 2022. Additionally, Russia controls approximately three-quarters of Donetsk. The Kremlin reiterated its demand for Ukrainian forces to withdraw from the entirety of Donetsk, which Kyiv has consistently rejected. Kremlin spokesman Dmitry Peskov urged Ukrainian President Volodymyr Zelenskyy to withdraw his forces from the Donbas area, suggesting that this would bring an end to what Russia refers to as the 'hot phase' of the war. In related developments, Ukrainian President Volodymyr Zelenskyy reported that Russia used 339 drones in overnight attacks on Ukraine. These attacks resulted in the deaths of two women in a civilian car in the Kherson region. Zelenskyy also mentioned that he would be holding a video call with US envoys to discuss stalled negotiations with Russia. Meanwhile, Ukrainian drones have been reported to have crossed into the airspace of several countries, including Estonia, Finland, and Latvia. Ukrainian Foreign Minister Andrii Sybiha clarified that Ukraine never aimed drones at these countries.

The Super League marked a significant milestone recently, celebrating 30 years since its launch in 1996. To commemorate the occasion, the league hosted a special event at Headingley, where Leeds played Warrington in a repeat of one of the original fixtures. The event featured a nostalgic look back at the league's early days, with Sky Sports anchor Brian Carney welcoming guests to reminisce about their past heroics. In 1996, only three Super League games were televised, despite Sky Sports investing £87m in the new competition. Fast-forward to the present, and the media landscape has transformed dramatically. Today, fans can access live broadcasts of almost every Super League game, with Sky Sports paying £21.5m to show every game this season, a significant decrease from the £17.3m they paid for two games a week in 1996. The way people consume sports media has also undergone a substantial shift. Fans now rely on their phones for updates, rather than traditional radio bulletins. The proliferation of social media and online platforms has changed the way journalists work, with many now producing content for rugby league websites, such as Serious About Rugby League and Love Rugby League. The number of full-time reporters covering the sport has dwindled, with most journalists now working part-time or for online publications. Despite this, the sport remains popular, with radio coverage expanding to include live broadcasts of almost every Super League game on BBC's local stations, 5 Live Sports Extra, or TalkSport. Veteran journalists, such as Paul Fitzpatrick and Andy Wilson, reflect on the changes they've seen over the years. They note that while the sport has become more accessible, the media landscape has become more challenging, with fewer resources and a greater emphasis on online content. Nevertheless, the openness of rugby league players and the humility of the sport's stakeholders have made it a pleasure to cover.

Ukraine is facing a critical spring as the country's situation continues to deteriorate. US financial support has dried up under Donald Trump, making European aid crucial. However, Hungary's Prime Minister Viktor Orbán is blocking a €90bn EU loan to Kyiv, causing exasperation for Ukrainian President Volodymyr Zelenskyy.Orbán's opposition is driven by his nationalist base and allegations of collusion with Russia to undermine European decision-making. With US attention shifting to the Middle East, Ukraine has become more vulnerable and reliant on European support. Higher oil prices and the lifting of restrictions on Russian oil have boosted Vladimir Putin's war economy, while stocks of US Patriot missile interceptors are dwindling.Meanwhile, peace negotiations with Moscow have paused, and the White House's priorities in the Gulf are taking precedence over Kyiv's needs. Ukraine's president has stated that future US security guarantees are being linked to the surrender of unoccupied territory in the Donbas. Europe must develop stronger mechanisms to counter blocking tactics like Orbán's and provide crucial financial support to Ukraine.

The Guardian’s March reading roundup gathers a diverse set of recommendations from both its writers and its readership, offering a snapshot of the titles that captured their attention over the past month.John Lanchester highlights two recent British novels that resonated with him after completing his own manuscript: Drayton and Mackenzie by Alexander Starritt, a story of friendship intertwined with business, and The New Life by Tom Crewe, which explores gay life in the 1890s. His European picks include Eurotrash by Christian Kracht, a darkly comic road‑trip tale, Perfection by Vincenzo Latronico, a critique of the digital‑nomad lifestyle, and Olga Tokarczuk’s genre‑defying Drive Your Plow Over the Bones of the Dead. Lanchester also notes his own recent release, Look What You Made Me Do, available from Faber for £20 via the Guardian bookshop.James, a regular Guardian reader, is immersed in Tom’s Crossing by Mark Danielewski. He describes the 1,200‑page modern western as a masterclass in character depth and meticulous detail, urging readers not to be deterred by its length.Patmeena Sabit turns to shorter forms when time is scarce, recommending Hue and Cry by James Alan McPherson for its understated humanity, Fifty‑Two Stories (a new Chekhov collection translated by Richard Pevear and Larissa Volokhonsky) for its blend of classics and previously untranslated pieces, and Ada Limón’s poetry collection Bright Dead Things for its poignant beauty. Sabit also promotes her own work, Good People, published by Virago at £16.99.David praises Zbig: The Life of Zbigniew Brzezinski, America’s Cold War Prophet by Edward Luce, calling it a dense yet illuminating autobiography that traces U.S. and global power dynamics from the 1960s to the early Trump era, and recommending a piecemeal reading approach.Arash finds profound resonance in Mother Mary Comes to Me by Arundhati Roy. He describes the memoir as an emotionally powerful tribute to Roy’s mother, noting its refusal to fall into gendered clichés while championing compassion and resistance against chauvinism.

Ukrainian President Volodymyr Zelenskyy has announced that he will ask US mediators to convey his proposal for an Easter ceasefire to Russia. This offer aims to suspend attacks on Ukraine's energy facilities during the Easter holidays.Zelenskyy made this statement on the sidelines of an event marking the fourth anniversary of Ukraine's Bucha massacre. He plans to discuss this proposal with US envoys Steve Witkoff and Jared Kushner in online talks scheduled for Wednesday.“I will definitely convey this proposal to the United States,” Zelenskyy said. “We are ready for a ceasefire for the Easter holidays … We are ready for any compromises, except compromises involving our dignity and sovereignty.”Earlier, Kremlin spokesman Dmitry Peskov responded coolly to Zelenskyy's previous mention of an energy truce, stating that they hadn't seen any clearly formulated initiatives for an Easter truce from Zelenskyy.Zelenskyy's offer comes after he mentioned that some of Ukraine's allies had sent signals about potentially scaling back long-range strikes on Russia's oil sector due to surging global energy prices.Ukraine has escalated its attacks on Russian energy to prevent Russia from benefiting from high oil prices and easing sanctions. In return, Zelenskyy stated that Ukraine is ready to reciprocate if Russia stops attacking the Ukrainian energy system.The US, Russia, and Ukraine have held three rounds of high-level trilateral talks this year, but progress has been stalled, particularly on the issue of territory in eastern Ukraine. Russia insists that Ukraine cede control of the Donbas region, which Zelenskyy has refused to consider.Zelenskyy also mentioned that Russia has told the US it could conquer the remainder of the Donbas region in two months, but Kyiv believes it can continue defending its "fortress belt" of industrial towns and cities in the Donbas for years.

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.

The Strait of Hormuz, a vital passageway for nearly 20% of the world's oil supply, has become a focal point of geopolitical tensions. Any disruption in this waterway could have significant impacts on global energy markets. Three scenarios are emerging as possibilities for the Strait of Hormuz: 1. Increased Military Presence: An escalation in military presence from various nations could lead to a heightened sense of security but also risks accidental confrontations. 2. Diplomatic Efforts: Diplomatic channels could open up, aiming to de-escalate tensions through dialogue and negotiation, potentially leading to a more stable region. 3. Blockade or Closure: A blockade or closure of the strait could have severe economic consequences, including skyrocketing oil prices and disruptions to global supply chains. The situation in the Strait of Hormuz remains fluid, with global implications for energy security and international relations.

President Donald Trump took to his Truth Social account on Tuesday to lambaste several European governments for declining to support the United States’ military campaign against Iran. He told nations struggling with fuel shortages to “go get your own oil” by force, a statement that immediately pushed global oil markets higher. European leaders pushed back. France barred Israeli aircraft carrying weapons from traversing French airspace, while Italy reportedly denied a last‑minute request for U.S. bombers to land in Sicily. Spain’s defence minister announced that Madrid would no longer tolerate “lectures” from any foreign power after refusing U.S. use of its bases and airspace. The United Kingdom, despite allowing U.S. forces to operate from its bases, faced a public rebuke from Trump, who singled out the UK for its inability to secure jet fuel through the Strait of Hormuz. U.S. Secretary of Defense Pete Hegseth echoed the president’s hard‑line stance, suggesting that allied navies should be ready to intervene in the strategic waterway. Analysts warn that any attempt to seize the Strait of Hormuz by force would be highly risky and likely unrealistic. Nonetheless, the rhetoric has already contributed to a surge in fuel costs: U.S. gasoline prices have crossed the $4‑per‑gallon threshold for the first time in four years, and Brent crude slipped below $104 a barrel after Iranian President Masoud Pezeshkian hinted at a possible de‑escalation. The conflict, now in its fourth week, has claimed more than 3,000 lives and triggered a worldwide economic shock. Irish Taoiseach Micheál Martin described the oil‑supply disruption as “probably the worst ever,” reflecting growing anxiety over inflation, stagnant growth, and a cost‑of‑living crisis that many nations are already grappling with. In a parallel diplomatic development, Pakistan and China unveiled a joint five‑part proposal aimed at ending hostilities and reopening the Strait of Hormuz, though it remains unclear how this aligns with recent U.S. diplomatic overtures through Islamabad. Meanwhile, the war’s regional dimensions have intensified. Israel announced plans to permanently occupy a swath of southern Lebanon up to the Litani River, a move that would cement its military presence well beyond the current confrontation with Hezbollah. Even the Vatican entered the fray. Pope Francis expressed hope that the fighting would cease by the upcoming Easter weekend, urging world leaders to find “ways to reduce the amount of violence.” His comments were widely interpreted as a subtle rebuke of the Trump administration’s aggressive posture. Overall, Trump’s incendiary remarks have highlighted a widening fissure between Washington and its traditional European partners, while the escalating oil price volatility underscores the broader economic ramifications of the Iran conflict.