Middle East tension
What jet fuel shortages could mean for your next trip
A looming jet fuel shortage in Europe and Asia sparked by the Iran war and the effective closure of the Strait of Hormuz could further upend world travel within weeks if oil doesn’t start flowing again soon — meaning higher airfares and flight cancellations as the summer travel season approaches.
In an exclusive Associated Press interview Thursday, International Energy Agency Director Fatih Birol said Europe has “maybe six weeks” of remaining jet fuel supplies and said the global economy faces its “largest energy crisis.”
In general, some European countries hold several months’ worth of jet fuel inventory at a time, according to an IEA report released this week.
Jet fuel — a refined kerosene-based oil product — is airlines’ biggest cost, making up about 30% of overall expenses, according to the International Air Transport Association. And jet fuel prices have roughly doubled since the war began. Shortages could start next.
“Every passing day that the Strait of Hormuz remains shut, Europe is edging closer to supply shortages,” said Amaar Khan, head of European jet fuel pricing at Argus Media. “The strait accounts for around 40% of Europe’s jet fuel imports, but no jet fuel has passed the strait since the war broke out.”
Airline officials have largely reacted with caution, acknowledging potential fuel issues but working to reassure customers. Still, some carriers have already passed costs on to consumers by increasing fees for baggage and other add-ons, embedding costs into ticket prices, or raising fuel surcharges.
A handful of airlines already are cutting flights. Experts say other parts of air travel — such as scheduling flexibility and routes — would likely be impacted.
Here’s a look at how jet fuel supplies work and how consumers might see effects.
How does jet fuel get to the plane?
Jet fuel is made from crude oil at refineries, which also create gasoline and diesel.
Airlines generally buy jet fuel from refineries or fuel companies, similar to drivers buying gasoline from stations, but on a much larger scale. Jet fuel travels on ships and through pipelines and is stored by airlines at airports.
Purchasing is handled by airlines. If fuel supplies are running out in a region, that doesn’t necessarily mean there will be no flights. Some airlines might have more stored than others.
But remaining flights are likely to be expensive, reflecting fuel costs.
Larger airlines have advantages in regions with shortages. They have the financial means to deal with high prices, said Jacques Rousseau, managing director at financial firm Clearview Energy Partners.
In Europe, a number of countries are now relying on less than 20 days of coverage in their fuel supplies, according to this week’s IEA report. Supplies haven’t dropped below 29 days since 2020, the report said.
If that falls under 23 days, physical shortages may emerge at some airports, resulting in flight cancellations and lower demand, the report warned.
Which regions could feel pain?
Asia-Pacific countries are the most reliant on oil and jet fuel from the Middle East, followed by Europe, Rousseau said.
Most of Europe’s jet fuel is produced by European refiners, but about 20-25% of its supply is missing because of the war, Rousseau said.
To fill some gaps, the U.S. has increased its exports of jet fuel to Europe considerably, sending about 150,000 barrels per day in April, or about six times the normal level, Rousseau said.
Availability of jet fuel is less of an issue in the U.S., a major oil producer, he added.
“I tell my kids ... we’re not so much going to run out of supply,” Rousseau said. “It’s just going to cost more here, whereas in different parts of the world you could actually get to a point where there’s just no fuel.”
How much is the world supply of jet fuel lagging?
The world is losing 10 million to 15 million barrels of oil a day due to the closure of the Strait of Hormuz, said Pavel Molchanov, senior investment strategist at investment firm Raymond James & Associates.
“There are exactly the same refineries in exactly the same places in Asia and Europe, but if there is not enough oil for those refineries to operate, it’s going to lead to physical supply disruption,” he said.
Even though the IEA has released 400 million barrels of oil from members’ emergency reserves, that won’t help in the short term, he added.
“It could take until the end of the year to get all of those barrels onto the market,” he said.
How will my travel be affected?
Christopher Anderson, a professor of operations, technology and information management at Cornell University, said travelers should prepare for more than just higher airfares.
“This is no longer just a fuel-price story. For airlines, it is now a network-planning story,” he said. “Higher fuel costs matter, but so do longer routings, reduced scheduling flexibility and greater uncertainty about what demand will look like even a few weeks out.”
Travelers might see “a market with later booking patterns, more schedule volatility and fewer low-fare options if this disruption lasts into the core summer season,” he said.
What are airlines doing?
Dutch airline KLM and U.K. budget carrier easyJet told AP they weren’t experiencing current fuel shortages, without commenting further on the IEA’s warning.
Still, both airlines are among those that have seen higher costs eat into their budgets.
On Thursday, KLM said it would cut 160 flights next month — about 1% of its total European routes. The airline cited “rising kerosene costs” and said a limited number of flights are “no longer financially viable to operate.”
In a Thursday update, EasyJet said it expects to see a pretax loss of 540 million to 560 million pounds (about $731 million to $758 million) for the first half of the 2026 fiscal year. Still, CEO Kenton Jarvis said demand remains strong overall — noting that Easter travel was easyJet’s busiest ever for that holiday period.
Lufthansa said Thursday that labor disputes and high fuel prices are forcing it to immediately shut down feeder airline CityLine, earlier than planned, and take its 27 older, less fuel-efficient planes out of service. The decision accelerates a shutdown that had been expected for next year.
U.S. carrier Delta Air Lines — which frequently flies to European destinations — said on Thursday that it was “aware of the potential jet fuel supply issue” on the continent and monitoring the situation. Delta, which bought a refinery in Philadelphia in 2012 to manage its largest expense, said it doesn’t expect any “near-term impact to our operations.”
How are prices affected?
Other airlines have sounded the alarm about rising fuel prices, with some already passing along new costs to travelers, often embedded into ticket prices and add-on fees.
U.S. carriers Delta, United, American Airlines, Southwest Airlines and JetBlue have all increased checked baggage fees, for example, in recent weeks.
United CEO Scott Kirby said in a recent memo to staff that if fuel prices stay elevated, it could add $11 billion in annual costs. “For perspective,” Kirby wrote, “in United’s best year ever, we made less than $5B.”
Meanwhile, Hong Kong’s Cathay Pacific recently bumped fuel surcharges by roughly 34% across all routes, while Air India added up to $280 in fees to some flights earlier this month. Emirates, Lufthansa and KLM have also adjusted fees or fares to keep pace with the price volatility.
20 hours ago
Stocks climb on rising hopes of U.S.-Iran negotiations
Shares around the world rose as investors grew optimistic of a ceasefire extension in the Iran war.
In Europe, Britain’s FTSE 100, France’s CAC 40 and Germany’s DAX were all up by around 0.5%.
In Asia, Tokyo’s Nikkei 225 closed 2.4% while Hong Kong’s Hang Seng rose 1.7% to 26,394.26. The Shanghai Composite index ended 0.7% higher.
Pakistan’s army chief is set to meet with Iranian officials in Tehran on Thursday in a bid to extend the ceasefire which paused almost seven weeks of war between Israel, the U.S. and Iran that have killed thousands of people and upended global markets by disrupting the flow of oil.
Uncertainty remains whether the frantic diplomacy can lead to a deal.
The meeting comes as President Donald Trump announced the leaders of Israel and Lebanon will speak later on Thursday about halting the fighting between them.
If it takes place, the conversation would be the first time the leaders of the two countries have spoken directly in more than 30 years.
Both Israeli and Lebanese governments refused to confirm a conversation.
1 day ago
Israel strikes Lebanon; death toll rises to 254
Israeli airstrikes across Lebanon, including the capital Beirut, have killed at least 254 people and injured more than 1,165, according to Lebanese civil defence authorities.
The casualties were reported from multiple places with Beirut recording 92 deaths and 742 injuries, followed by heavy losses in the southern suburbs, Nabatieh, Tyre, and Sidon, reports Al Jazeera.
Israeli Prime Minister Benjamin Netanyahu said Lebanon would not be part of any ceasefire arrangement involving Iran, reaffirming continued strikes against Hezbollah targets.
“We are continuing to hit Hezbollah,” Netanyahu said, adding that Israeli forces targeted areas previously considered safe by the group.
US President Donald Trump also said Lebanon is not included in the reported two-week ceasefire deal, describing the situation as a “separate skirmish” linked to Hezbollah.
Meanwhile, Iran’s Foreign Minister Abbas Araghchi urged the United States to choose between ceasefire and continued conflict.
“The world is witnessing the killings in Lebanon… the ball is now in America’s court,” he said.
Qatar condemned the Israeli attacks, calling them a “dangerous escalation” and a violation of international law and UN Security Council resolutions, and urged the international community to act to stop the violence.
The latest developments have raised concerns over a wider regional conflict as diplomatic efforts remain uncertain.
9 days ago
Iran threatens to widen maritime pressure
Iran’s parliamentary speaker, Mohammad Bagher Qalibaf, issued a veiled threat late Friday to disrupt traffic through a second strategic waterway in the region, the Bab el-Mandeb.
The strait, 32 kilometers (20 miles) wide, links the Red Sea with the Gulf of Aden and the Indian Ocean. More than a tenth of seaborne global oil and a quarter of container ships pass through it.
“Which countries and companies account for the highest transit volumes through the strait?” Qalibaf wrote.
More than 1,900 people have been killed in Iran since the war began.
In Gulf Arab states and the occupied West Bank, more than two dozen people have died, while 19 have been reported dead in Israel and 13 U.S. service members have been killed. In Lebanon, more than 1,400 people have been killed and more than 1 million people have been displaced. Ten Israeli soldiers have died there.
12 days ago
Hegseth asks US Army chief to step down amid Iran war
Gen. Randy George, the U.S. Army's top uniformed officer, was asked to step down Thursday by Defense Secretary Pete Hegseth. Pentagon officials have not given a reason for the departure, which comes during the Iran war and is the latest of more than a dozen firings of top generals and admirals.
Iran is firing more missiles at Israel and Gulf Arab states, with a spokesperson for its military insisting Thursday that Tehran maintains hidden stockpiles of arms, munitions and production facilities.
In Lebanon, where Israel has launched a ground invasion against Iran-backed Hezbollah militants, Israeli strikes have killed 27 people in a single day, Lebanon's Health Ministry said.
Stocks recovered most of their losses from earlier in the day, though oil prices remained elevated after Trump failed to offer a clear timetable for ending the conflict in his address. U.S. crude oil was up 8.4% at $108.82 per barrel, pulling back from over $110.
In his address Wednesday night, U.S. President Donald Trump said U.S. forces will keep hitting Iran “very hard” in the next two or three weeks and bring the country “back to the Stone Ages,” even as he touted the success of U.S. operations and argued that all of Washington’s objectives have so far been met or exceeded.
14 days ago
Week of War: US-Israel strikes on Iran spread across region
One week after the United States and Israel launched a large-scale military offensive against Iran, the conflict has quickly spread across the Middle East, with strikes targeting nuclear facilities, military bases and senior leadership sites inside Iran.
The fighting has already killed nearly 1,400 people, according to Iranian emergency authorities and media reports, after waves of airstrikes and missile attacks across the country.
Iran responded with ballistic missiles and attack drones targeting Israel and US interests across the region, with Gulf states bearing the brunt of the retaliation as missiles and drones were intercepted over countries including the UAE, Qatar, Saudi Arabia, Bahrain, Kuwait and Jordan.
Iranian President Masoud Pezeshkian said Tehran would not target neighbouring Gulf countries, unless attacks originated from those nations, and apologised for earlier attacks, but missile and drone strikes in the Gulf continued as the conflict intensified.
The conflict has also spilled into key shipping lanes and energy infrastructure, raising fears of wider economic disruption.
A rift between more pragmatic politicians looking to de-escalate the week-old war and others committed to battling the United States and Israel could complicate efforts to end the fighting. Conflicting statements involved two of the three members of the leadership council overseeing Iran since Supreme Leader Ayatollah Ali Khamenei was killed in the war's opening airstrikes.
Meanwhile, U.S. President Donald Trump threatened that Iran would be “hit very hard" and more “areas and groups of people” would become targets, without elaborating. Already, the conflict has rattled global markets and left Iran’s leadership weakened by hundreds of Israeli and American airstrikes.
Along with his apology, Iranian President Masoud Pezeshkian dismissed Trump’s call for Tehran to surrender unconditionally, saying: “That’s a dream that they should take to their grave.”
Pezeshkian's message, seemingly filmed in a hurry, underlined the limited powers exercised by the theocracy's leaders over the paramilitary Revolutionary Guard, which controls the hundreds of ballistic missiles targeting Israel and other countries. It answered only to Khamenei and appears to be picking its own targets.
Earlier, a wave of missiles and drones had disrupted flights at Dubai International Airport, targeted a major Saudi oil facility and sent people fleeing for cover in Bahrain.
And several hours after Pezeshkian’s apology, the United Arab Emirates, Qatar and Bahrain were still sounding alerts or reporting intercepted missiles.
U.S. allies in the Gulf have said the Trump administration did not give them adequate time to prepare for the war.
Iran makes varying statements on attacks
Pezeshkian’s statement said Iran's leadership council had been in touch with the armed forces over the attacks.
“I should apologize to the neighboring countries that were attacked by Iran, on my own behalf,” he said. “From now on, they should not attack neighboring countries or fire missiles at them, unless we are attacked by those countries. I think we should solve this through diplomacy.”
The U.S. strikes haven’t been coming from the Gulf Arab governments under attack, but from U.S. bases and vessels in the region.
But hard-line judiciary chief Gholam Hossein Mohseni-Ejei, another member of the three-man leadership council, suggested that war strategy will not change.
“The geography of some countries in the region — both overtly and covertly — is in the hands of the enemy, and those points are used against our country in acts of aggression. Intense attacks on these targets will continue,” he posted on X.
“As long as the presence of U.S. bases in the region continue, the countries will not enjoy peace,” Iran’s Parliament speaker and a former Revolutionary Guard general, Mohammad Bagher Ghalibaf, said on X. He called defense policies in line with the late supreme leader’s guidance.
Iran's U.N. mission later suggested, without offering evidence, that strikes on nonmilitary sites “may have resulted from interception by U.S. electronic defense systems.”
Iran's next supreme leader is yet to be named. Prominent cleric Ayatollah Nasser Makarem Shirazi urged Iran's Assembly of Experts responsible for that decision to act quickly.
US says more intense bombing lies ahead
The Trump administration approved a new $151 million arms sale to Israel after Trump said he would not negotiate with Iran without its “unconditional surrender” and U.S. officials warned of a bombing campaign they said would be the most intense yet.
Associated Press video showed explosions over western Tehran as Israel said it carried out another wave of strikes and struck a Tehran airport it said was used to transfer weapons and cash to militant groups.
“Tehran is under severe bombardment" and even people far from military and government targets are living in fear, said a university student in western Tehran, speaking on condition of anonymity for security concerns.
The U.S. and Israel have battered Iran, targeting its military capabilities, leadership and nuclear program. The war's stated goals and timelines have repeatedly shifted as the U.S. has at times suggested it seeks to topple Iran’s government or elevate new leadership from within.
The fighting has killed at least 1,230 people in Iran, more than 290 in Lebanon and 11 in Israel, according to officials in those countries. Six U.S. troops have been killed.
Incoming missiles from Iran had people heading to bomb shelters again across Israel. There were no immediate reports of casualties.
Strikes target Bahrain, Saudi Arabia and Dubai
Sirens sounded early Saturday in Bahrain as Iran targeted the island kingdom. Saudi Arabia said it destroyed drones headed toward its vast Shaybah oil field and shot down a ballistic missile launched toward Prince Sultan Air Base, which hosts U.S. forces.
In Dubai, several blasts were heard Saturday morning and the government said it had activated air defenses. Passengers waiting for flights at Dubai International Airport were ushered into train tunnels.
Long-haul carrier Emirates later said all flights to and from Dubai were suspended until further notice, but then said it would resume operations.
Fighting in Lebanon kills dozens
The Iranian-backed militant group Hezbollah said its fighters clashed with an Israeli force that landed late Friday in eastern Lebanon's mountains, and intense clashes and airstrikes lasted into Saturday.
Lebanon’s Health Ministry said Israeli airstrikes on Nabi Chit and nearby areas left at least 41 people dead and 40 wounded. The Lebanese army said the dead included three of its troops.
Israel did not acknowledge the fighting, and its military did not immediately respond to requests for comment.
Israel also has carried out waves of airstrikes on Beirut's southern suburbs, where Hezbollah has a large presence. It is home to hundreds of thousands of civilians.
Iranian naval vessel has docked in India
India’s foreign minister said Saturday that an Iranian naval vessel has docked in India, speaking after a U.S. submarine sank the Iranian warship IRIS Dena off Sri Lanka’s coast Wednesday.
Subrahmanyam Jaishankar said the IRIS Lavan was moored in the southern city of Kochi after India granted permission when the vessel reported “having problems” Sunday, a day after the war began.
“I think it was the humane thing to do,” Jaishankar said.
Another Iranian vessel, the IRIS Bushehr, requested assistance from Sri Lanka. The ships previously took part in naval exercises hosted by India.
#With inputs from agencies
1 month ago
Khamenei’s death: Who will be Iran’s next supreme leader?
The death of Iran's Supreme Leader Ayatollah Ali Khamenei after almost 37 years in power raises paramount questions about the country's future. The contours of a complex succession process began to take shape the morning after Khamenei's assassination.
Here is what to know:
A temporary leadership council assumes duties
As outlined in its constitution, Iran on Sunday formed a council to assume leadership duties and govern the country.
The council is made up of Iran’s sitting president, the head of the country’s judiciary and a member of the Guardian Council chosen by Iran’s Expediency Council, which advises the supreme leader and settles disputes with parliament.
Iran’s reformist President Masoud Pezeshkian and hard-line judiciary chief Gholamhossein Mohseni Ejei are its members who will step in and “temporarily assume all the duties of leadership.”
A panel of clerics selects a new supreme leader
Though the leadership council will govern in the interim, an 88-member panel called the Assembly of Experts “must, as soon as possible” pick a new supreme leader under Iranian law.
The panel consists entirely of Shiite clerics who are popularly elected every eight years and whose candidacies are approved by the Guardian Council, Iran’s constitutional watchdog. That body is known for disqualifying candidates in various elections in Iran and the Assembly of Experts is no different. The Guardian Council barred former Iranian President Hassan Rouhani, a relative moderate whose administration struck the 2015 nuclear deal with world powers, from election for the Assembly of Experts in March 2024.
Khamenei's son could be a possible contender
Clerical deliberations about succession and machinations over it take place far from the public eye, making it hard to gauge who may be a top contender.
Previously, it was thought Khamenei's protégé, hard-line President Ebrahim Raisi, may try to take the mantle. However, he was killed in a May 2024 helicopter crash. That has left one of Khamenei's sons, Mojtaba, a 56-year-old Shiite cleric, as a potential candidate, though he has never held government office. But a father-to-son transfer in the case of a supreme leader could spark anger, not only among Iranians already critical of clerical rule, but also among supporters of the system. Some may see it as un-Islamic and in line with creating a new, religious dynasty after the 1979 collapse of the U.S.-backed Shah Mohammad Reza Pahlavi's government.
A transition like this has happened only once before
There has been only one other transfer of power in the office of supreme leader of Iran, the paramount decision-maker since the country's 1979 Islamic Revolution.
In 1989, Grand Ayatollah Ruhollah Khomeini died at age 86 after being the figurehead of the revolution and leading Iran through its bloody eight-year war with Iraq. This transition now comes after Israel launched a 12-day war against Iran in June 2025 as well.
The vast powers of a supreme leader
The supreme leader is at the heart of Iran’s complex power-sharing Shiite theocracy and has final say over all matters of state.
He also serves as the commander-in-chief of the country's military and the powerful Revolutionary Guard, a paramilitary force that the United States designated a terrorist organization in 2019 and which Khamenei empowered during his rule. The Guard, which has led the self-described “Axis of Resistance,” a series of militant groups and allies across the Middle East meant to counter the U.S. and Israel, also has extensive wealth and holdings in Iran.
1 month ago
Global tensions rise as US-Israeli strikes on Iran fuel fears of 'wider war'
Coordinated military strikes by the United States and Israel on Iranian targets have sharply escalated global tensions, triggering widespread concern over the risk of a broader regional conflict.
World leaders and neighbouring countries have urged restraint as fears grow that the rapidly intensifying situation could spiral into a wider war.
Iranian state media, citing the Red Crescent, on Saturday evening said at least 201 people were killed and more than 700 injured.
U.S. President Donald Trump urged the Iranian public to “seize control of your destiny” by rising up against the Islamic leadership that has ruled the nation since 1979.
In a video announcing the “major combat operations," Trump told Iranians that “when we are finished, take over your government. It will be yours to take. This will be probably your only chance for generations."
Meanwhile, Iran retaliated by firing missiles and drones toward Israel and U.S. military bases in the region, and exchanges of fire continued into the night.
Some of the first strikes on Iran appeared to hit near the offices of 86-year-old Supreme Leader Ayatollah Ali Khamenei. Smoke rose from the capital as part of strikes that Iranian media said occurred nationwide.
Iranian Foreign Minister Abbas Araghchi told NBC News that Khamenei and President Masoud Pezeshkian are alive “as far as I know,” and called the attack “unprovoked, illegal and absolutely illegitimate.”
He also said Iran will continue to exercise its inherent and lawful right of self-defense until the ongoing aggression by the United States and Israel is ceased “fully and unequivocally.”
Araghchi made the remarks in a letter to the UN secretary-general and the president of the UN Security Council on Saturday.
Besides, Foreign Ministry spokesperson Esmaeil Baqaei has denounced the United States and the Israeli regime for killing civilians, including dozens of students in a primary school, in their unprovoked attacks on Iranian cities.
“The US & Israel launched an egregious, unwarranted act of aggression against Iran by indiscriminately targeting Iranian cities. In just one single case, they targeted a primary school in Minab, Hormozgan Province, killing and maiming tens of innocent young girls,” Baqaei wrote in a post on his X account on Saturday afternoon.
Calling the attack on the school “a blatant crime” he said, “The world must stand up to this grave injustice and the UNSC must act now in exercise of its primary responsibility under the Charter.”
How world leaders react
Global leaders have voiced deep concern following military strikes by Israel and the United States on Iran, and Tehran’s subsequent retaliation, warning of the risk of a wider regional conflict across the Middle East.
The United Nations Human Rights Chief, Volker Türk, called for “restraint” and urged all parties to “see reason, to de-escalate, and for a return to the negotiating table.”
“I deplore the military strikes across Iran this morning by Israel and the United States of America, and the subsequent retaliatory strikes by Iran,” he said, stressing that civilians ultimately bear the brunt of armed conflict. He reminded those involved that protecting civilians is “paramount” under international law.
The European Union’s top diplomat, Kaja Kallas, described the latest developments as “perilous.”
A spokesperson for the Government of the United Kingdom said London does not want to see “further escalation into a wider regional conflict.” The statement emphasised that the immediate priority is the safety of UK nationals in the region, adding that Britain stands ready to protect its interests.
Prime Minister Keir Starmer chaired a meeting of the government’s emergency Cobra committee and is expected to hold a series of calls with allies.
The BBC reported that the UK was not involved in the US-Israeli strikes.
Germany said it had been informed of the attack in advance, with Chancellor Friedrich Merz consulting relevant security ministers.
In Rome, the office of Italian Prime Minister Giorgia Meloni said she had held a conference call with ministers and intelligence chiefs and would consult allies and regional leaders to support efforts aimed at easing tensions.
Australian Prime Minister Anthony Albanese said his country supported the US in acting to prevent Iran from obtaining a nuclear weapon and from continuing to threaten international peace and security.
Meanwhile, Russia condemned the US-Israeli strikes, calling them a “reckless move.” The Russian foreign ministry said it was “condemnable” that the attacks were being carried out under what it described as the guise of renewed negotiations, referring to recent US-Iran nuclear talks.
Moscow also urged the international community to assess what it termed “irresponsible actions aimed at undermining peace, stability, and security” in the region.
As diplomatic activity intensifies, world leaders continue to call for restraint, warning that any further escalation could destabilise an already volatile Middle East.
Oil prices poised for volatility amid fears of wider conflict
Oil markets, currently closed for the weekend, are expected to see sharp price swings next week as uncertainty lingers over the impact of U.S. and Israeli strikes on Middle East oil supplies.
Earlier projections suggested any price spike would be short-lived if oil shipping routes and infrastructure—such as Iranian pipelines and the Kharg Island terminal—remain unaffected. However, disruption to infrastructure or tanker traffic through the Strait of Hormuz could trigger a sharper and more prolonged surge.
Brent crude has already climbed to a seven-month high of $72.87. Iran exports about 1.6 million barrels per day, mostly to China, and any disruption could push Chinese buyers to seek alternative supplies, driving global prices higher.
Around 20% of global oil passes daily through the Strait of Hormuz, used heavily by Saudi Arabia, Iraq and the UAE. Analysts say Iran is unlikely to close the strait as it would harm its own exports and key customer China.
Pre-conflict forecasts suggested limited strikes could raise prices by $5–$10 on market fears alone, while a broader war disrupting tanker traffic could push crude above $90 per barrel and send U.S. gas prices well above $3 per gallon, from last week’s average of $2.98.
# With input from agencies
1 month ago
201 killed, 747 injured as US–Israel strikes hit 24 provinces in Iran
The Iranian Red Crescent Society has reported that at least 201 people have been killed and 747 others injured in attacks across Iran, according to Mehr news agency.
A spokesperson for the humanitarian organisation said US and Israeli strikes have affected 24 provinces. More than 220 Red Crescent teams have been deployed to the impacted areas, and rescue efforts are ongoing.
Meanwhile, Donald Trump stated that the United States has initiated “major combat operations” in Iran, following Israel’s announcement that it had carried out missile strikes on the country. Iranian media, citing the Red Crescent, confirmed the casualty toll of at least 201 deaths across 24 provinces.
In response, Iran has launched retaliatory strikes targeting Israel and US assets in several Middle Eastern countries, including Qatar, United Arab Emirates, Kuwait, Bahrain, Jordan, Saudi Arabia and Iraq, reports Al Jazeera.
Multiple explosions were reported in the capital, Tehran, along with blasts in other parts of the country. State media also reported that a strike on a school in southern Iran left more than 80 people dead.
Amid the escalating exchanges, several countries in the region have closed their airspace.
Separately, Iran’s Foreign Ministry spokesperson Esmail Baghaei said the US attacks do not “serve the interests of the American people”.
“This is something that is imposed on Iran. We never sought war. We were going to resolve this issue diplomatically. And this was the demand of all the countries of the region and the international community”, he told Al Jazeera.
“This was asserted by the US, and we believe that it is just to advance the whims of the Israeli regime. And I think this war would not serve the interests of the American people.”
Moreover, Baghaei said that Iran was “friendly with all countries of the region”.
“The problem is that the US is conducting this war of aggression at the cost of everyone, including the countries of the region.”
1 month ago
Dhaka deeply concerned over safety of Bangladeshis in Middle East
Bangladesh on Saturday expressed deep concern over the welfare of its citizens in the Middle East in the wake of recent hostilities in the region including Iran.
Bangladesh has already initiated actions to ensure the safety and security of its premises in Tehran, its diplomats and other staff in the Embassy, as well as Bangladeshi students in Iran.
Foreign Minister Dr Khalilur Rahman, State Minister for Foreign Affairs Shama Obaed Islam, Adviser to the Prime Minister on Foreign Affairs Humaiun Kobir and Foreign Secretary Asad Alam Siam held an emergency meeting to review the evolving situation in the Middle East in the evening.
During the meeting, they spoke to the Head of Bangladesh Mission in Tehran.
Bangladesh regrets the failure of negotiations and expresses deep concern at the latest escalation of hostilities in the Middle East, said the Ministry of Foreign Affairs.
It re-emphasised the importance of respecting the sovereignty and territorial integrity of every country in the region.
Bangladesh said it strongly believes that conflict brings no solution and only dialogue, mutual respect and adherence to international law can resolve disputes.
Bangladesh also urged all parties to exercise maximum restraint, avoid further escalation and immediately pursue diplomatic efforts to de-escalate.
Bangladesh reaffirmed its consistent position in favour of peace, stability and security in the Middle East, and called upon the international community to intensify efforts towards restoring calm and facilitating dialogue.
The suspension of air traffic and air space is affecting Bangladeshi workers destined for the Middle East.
The government has already requested all the relevant countries to allow stranded citizens, including workers, destined for the Middle East to enter when the situation improves and received assurances from some of the countries in this regard.
Bangladesh authorities have also taken measures to accommodate the needs of stranded workers at different airports in Bangladesh.
1 month ago