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European airports have issued an urgent warning that jet fuel shortages could materialise within the next three weeks if the Strait of Hormuz remains closed.Airports Council International (ACI) Europe addressed a letter to EU transport commissioner Apostolos Tzitzikostas, stating the bloc is only three weeks away from a systemic shortage.The threat is linked to the ongoing US‑Israel conflict with Iran, which has effectively shut the strait—a key shipping lane for Gulf oil exports—pushing Brent crude to around $96 per barrel, up from roughly $72 before the hostilities.ACI warned that without a stable resumption of traffic through Hormuz within three weeks, a “systemic jet fuel shortage is set to become a reality for the EU.”Jet‑fuel prices have more than doubled year‑on‑year, reaching $1,650 per tonne according to IATA data. Europe’s price surge stands at 138%, while Asia has seen a 163% increase.Ryanair chief Michael O’Leary highlighted that the United Kingdom, heavily dependent on Kuwaiti supplies, is the most vulnerable market in Europe.Shipping data from Vortexa shows the last Gulf‑origin jet fuel cargo for Europe is due in Copenhagen tomorrow, following a partial delivery to Rotterdam earlier this week. The final tanker bound for the UK arrived in Kent on Tuesday.More than 60% of Europe’s jet fuel traditionally comes from Gulf refineries, with over 40% shipped via the Hormuz corridor. The blockade forces European buyers into direct competition with Asian carriers for alternative cargoes.Australian investment bank Macquarie notes that jet fuel lacks the pipeline alternatives available to crude oil, making the market especially vulnerable. Even if shipments resume, the refined‑product market could take two to three months to normalise, lagging behind crude markets.Airlines have already begun trimming schedules and raising fares, a trend that will feed into broader inflationary pressures. A genuine shortage could force travelers and businesses to postpone trips and shipments, deepening economic damage.ACI called for proactive EU monitoring and action, warning that the peak summer travel season—critical to many economies—could be hit hard if fuel supplies falter.IATA director‑general Willie Walsh cautioned that even with the strait reopened, restoring adequate supply will take months due to disrupted refining capacity in the Middle East. IATA had previously projected a 4.9% year‑on‑year growth in passenger traffic for 2026.

British Airways announced that, when it resumes operations in July, its Middle East timetable will be significantly scaled back, with a portion of the freed‑up fleet redirected to launch additional direct services to India and Kenya. The carrier has suspended all flights to the region following the outbreak of the Iran‑related war. It plans to restart flights to Riyadh in mid‑May and to reopen routes to Dubai, Doha and Tel Aviv on 1 July. However, the airline will reduce Dubai flights from three to one per day and cut the frequency to Doha, Tel Aviv and Riyadh from two daily services to a single flight each. In a permanent move, BA will drop Jeddah as a destination from 24 April. Service to Bahrain and Amman will remain on hold until 25 October, while flights to Larnaca, Cyprus are slated to return on 22 May. Speaking on the adjustments, BA said, “Given the ongoing situation in the Middle East, we have revised our schedule to give customers clearer options. We continue to monitor the situation closely and are in direct contact with affected passengers to provide alternatives.” Since the conflict began, the airline has facilitated the repatriation of thousands of travelers, operated humanitarian relief flights, and increased capacity on key long‑haul sectors. Looking ahead, BA will deploy larger aircraft on its Delhi route from 1 June and similarly upscale the Hyderabad service. The summer schedule will also see additional daily flights to Bengaluru and Nairobi through late October. Further expansion includes new flights to Delhi and Mumbai, a development first reported by the Financial Times, underscoring BA’s strategy to offset reduced Middle East capacity with growth in high‑demand Asian and African markets.

The recent ceasefire between the United States and Iran may provide temporary relief, but the oil crisis triggered by their conflict is far from over. After 40 days of fighting, the two nations agreed to a two-week ceasefire, with negotiations set to begin in Pakistan's capital, Islamabad.One of the key points in Iran's 10-point proposal is allowing shipping to resume through the Strait of Hormuz, a critical waterway through which 20 percent of the world's oil and gas is shipped during peacetime. The strait has been effectively closed since the start of the war, causing global oil and gas prices to soar.Following the announcement, oil prices dropped to $92 on Wednesday, down from over $110 for much of the war. However, delays in restarting production and transport mean the energy crisis is far from over. For ships to continue operating, they need certainty about security during the next two weeks of the ceasefire.Even with the waterway reopened, it will take weeks for large oil tankers – now scattered thousands of miles away – to return to the Gulf to collect the millions of barrels sitting in large reservoirs. With very few tankers able to load or unload and their onshore storage full, producers began shutting wells, causing regional oil output to plummet despite efforts to reroute limited volumes via overland pipelines.Economists warn that the true impact on grocery bills will likely persist throughout 2026 and into 2027. Additionally, it will take years for the Gulf energy industry to repair facilities damaged or destroyed during the war.Shipping data shows that combined exports from Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates fell from 469 million barrels in February to 263 million barrels in March – a decline of 206 million barrels, or 44 percent. Iraq's crude exports have been hit the hardest, falling 82 percent from 94m barrels in February to 17m in March.The 206 million barrels of Gulf oil lost since the start of the war would fill approximately 103 Very Large Crude Carriers (VLCCs), the workhorse supertankers of the global energy trade. A single VLCC stretches nearly 330 metres (1,080 feet) in length, nearly the same height as the Eiffel Tower in Paris.To put that in more practical terms, if you drove a pick-up truck that averages 24 miles per gallon (or 10 litres per 100km), one barrel of crude oil would carry you about 730km or 450 miles. That is about the distance from New York City to Cleveland, Ohio.For much of the war, oil has traded above $100 per barrel, hitting a peak of nearly $128 on April 2. The value of 206 million lost export barrels at various oil prices is significant, with Brent crude being the global benchmark.

Delta Air Lines chief executive Ed Bastian told investors that customers should expect higher airfares as oil prices climb in response to the ongoing US‑Israel conflict with Iran. The carrier has already absorbed an additional $330 million in fuel costs and anticipates a further $2 billion increase in fuel expenses for the current quarter. Despite the cost pressure, Delta forecasts a 10% rise in revenue, citing robust passenger demand that it describes as a "healthy" travel environment. Bastian noted that the surge in demand is especially strong among affluent travelers who continue to purchase premium‑class seats. Other U.S. airlines have begun raising baggage fees, attributing the move to volatile fuel markets. Bastian suggested that such fee hikes could become a permanent feature of airline pricing, adding that "at this level of fuel pricing, it’s hard to call anything temporary." Oil markets showed a brief reprieve after Iran announced the reopening of the Strait of Hormuz under a two‑week cease‑fire agreement with the United States. Brent crude fell from roughly $110 per barrel to just under $95 per barrel, yet prices remain about $20 per barrel above pre‑conflict levels. U.S. carriers have felt the ripple effects of the conflict. Since the start of the year, American Airlines shares have slipped about 25% and United Airlines about 13%. United’s CEO, Scott Kirby, warned that fares could climb as much as 20% if fuel costs stay elevated, even as airlines strive to keep demand strong. Delta’s stock, which surged 17% last year, has been flat so far in 2026, reflecting both consumer resilience and the headwinds from the conflict. The shares did gain 6% in early trading on Wednesday. To mitigate fuel consumption, Delta plans to trim capacity on lower‑load midweek and overnight routes, mirroring a similar capacity‑reduction announcement from United earlier in the month. Bastian also highlighted that Delta has benefited from a "K‑shaped" economic recovery, where wealthier consumers continue to spend on travel while lower‑income households curb discretionary spending. "Our customers at the top of the K are still investing in travel," he told CNBC, emphasizing that premium travel remains a priority for this segment.

The recent US-Iran ceasefire agreement has not led to a significant change in the situation for ships trying to pass through the Strait of Hormuz. According to shipping analysts, there will be no 'mass exodus' of ships through the strait, despite provisions for a temporary reopening of the crucial maritime channel.The ceasefire agreement 'doesn't change the situation in the sense that Iran is still in control,' said Richard Meade, the editor-in-chief at maritime data provider Lloyd's List Intelligence. 'It still requires ships to essentially seek permission, and that's the key. That means that nothing has changed – no permission, no transit.'An estimated 2,000 ships and 20,000 seafarers have been trapped in the Persian Gulf since the outbreak of war at the end of February, according to the UN, unable to pass through the strait to continue their journeys. The trapped vessels include oil and gas tankers, bulk carriers, and cargo ships as well as six tourist cruise liners.Under Iran's 10-point ceasefire plan, the country's foreign minister said safe passage through the strait would be allowed under Iranian military management. However, analysts believe that Iran will continue to control the flow of traffic, and few expect traffic to return to normal daily averages during the two-week ceasefire.The head of the UN shipping agency, the International Maritime Organization (IMO), welcomed the ceasefire and called for a safe evacuation of seafarers from the Gulf. Arsenio Dominguez, the secretary-general of the IMO, said: 'I am already working with the relevant parties to implement an appropriate mechanism to ensure the safe transit of ships through the strait of Hormuz. The priority now is to ensure an evacuation that guarantees the safety of navigation.'

An oil slick from a damaged Iranian drone carrier, the Shahid Bagheri, is threatening to contaminate the Hara biosphere reserve, one of the Middle East's most important wetlands. The slick was caused by a US warplane attack in early March, which left the ship leaking heavy fuel oil in Iranian territorial waters near the Strait of Hormuz.The oil has slowly been moving westwards towards the Hara biosphere reserve, the largest mangrove forest on the Gulf shoreline. By 18 March, the oil had traveled 16 miles southwest in the direction of Hara, according to satellite image analysis. The spill could be the most ecologically significant in the region since the first Gulf War.The Hara reserve is an important ecosystem for migrating birds and critically endangered turtles, as well as many species of fish and crustaceans. The region's fishing communities depend almost entirely on the sea for their livelihoods, making the potential impact of the spill significant.Environmental analysts have expressed concern that the situation could worsen if attacks on oil and chemical tankers continue. Wim Zwijnenburg, an environment analyst, noted that “if you keep shooting at oil [and] chemical tankers, at some point you will create a catastrophe if it goes wrong.”

Ukraine's military has launched a significant drone strike on Russian energy infrastructure in the Black Sea, targeting the port of Novorossiysk. According to Ukrainian drone forces commander Robert Brovdi, the overnight attack hit the Admiral Makarov missile carrier in the port, which serves as Russia's largest oil exporting outlet on the Black Sea.The attack is part of Ukraine's broader strategy to disrupt Russian energy exports and reduce Moscow's revenues. Ukraine has increased its attacks on Russian energy infrastructure in recent weeks, aiming to halt Russian oil exports and impact the Russian economy.Russian authorities reported that at least eight people, including two children, were injured in Novorossiysk. Videos posted on Telegram showed a fire at one of the oil port's docks. Novorossiysk Mayor Andrei Kravchenko stated that debris from drones had fallen on two locations in the city, including a residential area.Russia's military claimed that air defense units had downed 148 Ukrainian drones over a three-hour period. The Caspian Pipeline Consortium (CPC) terminal, located in the Novorossiysk port area, exports oil from Kazakhstan and has major US oil companies, such as Chevron and ExxonMobil, as shareholders.The attack on Novorossiysk comes amid a series of Ukrainian drone strikes on Russian oil infrastructure. On the previous day, Ukrainian drones struck Russia's Baltic Sea port of Primorsk and the NORSI oil refinery in Nizhny Novgorod. These attacks are part of Ukraine's efforts to reduce Moscow's revenues from oil sales, which are crucial for the Russian economy.In response to the attacks, Russia's Ministry of Defence accused Ukraine of deliberately targeting the CPC terminal to inflict economic damage on its largest shareholders, including US and Kazakh energy companies.

Iran is experiencing the longest nationwide internet blackout ever recorded, according to the global monitoring group NetBlocks. Since the United States and Israel launched their war on Iran on February 28, connectivity has hovered at about 1% of pre‑war levels, effectively cutting the country off from the global web. The blackout follows a prior 20‑day shutdown in January, which coincided with deadly nationwide protests. Combined, these measures mean that Iranian civilians have spent close to two‑thirds of 2026 in digital darkness, relying only on a slow, state‑controlled intranet for basic services and state‑run news. NetBlocks highlighted that while regions such as Myanmar, Sudan, Kashmir and Tigray have endured longer intermittent outages, no other war has forced an entire nation offline to this extent. The monitor added that Iran is the first country to lose previously functional internet connectivity by reverting to a national network. Economic analysts warned that the January shutdown already caused the economy to lose tens of millions of dollars each day in direct damages, with far‑reaching indirect effects. Companies reported that many online businesses could not survive more than three weeks without connectivity, leading to a wave of layoffs and reduced pay raises. One affected worker, Kamran, a product designer in Karaj, said he was dismissed after the latest wave of cuts. He now relies on a local skill‑matching group, but fears competition from thousands of similarly displaced workers. A senior data analyst from a Tehran firm disclosed that the firm is offering lower-than‑expected raises and shifting to three‑month contracts, creating uncertainty about future employment. Compounding the digital crisis, the war has targeted Iran’s steel factories, petrochemical plants and other civilian infrastructure, aggravating pre‑existing problems of high inflation and unemployment. Only a limited segment of the population can access the global internet—either because they are whitelisted by the state or because they pay steep fees for proxy connections that often disappear after a few hours. Government spokeswoman Fatemeh Mohajerani stated that internet access is being granted only to those who can “get the voice out,” such as officials, state‑affiliated entities and news agencies. Citizens on the ground describe a grim reality: frequent power outages, uncertainty about water supplies, and an inability to use services like Google Search or AI tools, even as they watch live feeds from space missions that remain inaccessible. In response to the prolonged shutdown, authorities have begun rolling out a tiered system dubbed “Internet Pro.” Business groups have received a “guide to connect to international internet,” urging them to contact a state‑run messaging app, Bale, for registration. Parallel efforts by a major telecom carrier offer one‑year data packages at prices higher than normal plans, while existing providers have not refunded customers for services they cannot deliver. President Masoud Pezeshkian’s administration, which campaigned on unblocking Iran’s internet, has offered no official explanation for the shutdown, leaving both the battered digital sector and the broader economy facing an uncertain future.

Oman and Iran convened deputy foreign minister‑level talks on Saturday to discuss measures that could guarantee the smooth passage of ships through the Strait of Hormuz, according to a statement from the Omani Foreign Ministry.The meeting, described as an "undersecretary‑level" dialogue, was attended by specialists from both ministries, underscoring the technical nature of the discussions.Officials said the parties examined possible options to ensure safe transit amid the volatile regional environment, with a series of proposals now slated for further study.Tracking data from the shipping journal Lloyd’s List showed that, on Sunday, three Omani vessels – two large oil supertankers and an LNG carrier – navigated the strait outside Iran’s "approved corridor" near Larak Island, sailing unusually close to the Omani coast.Earlier in the week, an Iranian official announced a draft protocol with Oman aimed at monitoring traffic through the strait, which carries roughly one‑fifth of global oil supplies and has been heavily restricted as retaliation for the ongoing US‑Israeli war on Iran.Since the conflict erupted on February 28, Iran’s Islamic Revolutionary Guard Corps (IRGC) has permitted limited transits for vessels from Pakistan, France and Turkey, while an estimated about 3,000 ships remain stranded in the region.The Strait of Hormuz is a critical energy chokepoint; any disruption fuels market volatility and compels oil‑importing nations to scramble for alternative supplies.U.S. President Donald Trump took to social media over the weekend, warning that he would unleash “all Hell” if the waterway is not reopened by Monday, highlighting the geopolitical pressure surrounding the passage.Egypt’s foreign minister, Badr Abdelatty, held separate calls with U.S. special envoy Steve Witkoff and regional counterparts, including Iran’s foreign minister Abbas Araghchi, to explore de‑escalation proposals.Professor Amin Saikal, an emeritus scholar at the Australian National University, cautioned that an expansion of the war would be “hell for the whole region” and stressed the urgent need for a negotiated settlement, though he noted that diplomatic avenues appear increasingly narrow.