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Donald TrumpがUS Navyによる封鎖を維持する意向を見せ、Iranがstrait of Hormuzをほぼ閉鎖し続けていることで、石油市場には動揺が広がっている。Donald TrumpがIranの港に対するUSの封鎖が数ヶ月続く可能性があると警告し、和平交渉が停滞したままとなったことを受け、水曜日のBrent oilの価格は1 barrelあたり126ドルを超え、2022年以来の高値を記録した。24時間で13%以上急騰し、Brent crudeは戦争が始まった2月28日以来の最高値を更新した。2022年のRussiaによるUkraine侵攻以来、Brentが120ドルを超えたことはなく、当時の価格は139ドルでピークに達していた。Continue reading...

Ursula von der Leyen later due to meet new Hungarian leader who is seeking to unlock EU funds in return for reformsVon der Leyen says that “every member state has a different energy mix,” so no blanket EU solution would work.But she calls for more coordination not just on common procurement, but also on fuel reserves, “especially jet fuel and diesel, where markets are tightening.”“ Let us use this to make the switch to electricity – not just in transport, but also in industry and heating. This is not only a matter of affordability and competitiveness; this is also a matter of economic security. Thus, speaking of European independence, this is the moment to electrify Europe.”“This is the second energy crisis within four years, and the lesson should be very clear. Our overdependency on imported fossil fuels makes us vulnerable. … We must reduce our overdependency on imported fossil fuels and boost our home-grown, affordable, clean energy supply. From renewables to nuclear, in full respect of technology neutrality.” Continue reading...

Niesr says even under best-case scenario, economy would grow at slower pace in 2026 and 2027 because of conflictBritain is facing a £35bn economic hit and the risk of a recession this year as the fallout from the Iran war adds to the pressure on Keir Starmer’s government, a leading thinktank has warned.The National Institute of Economic and Social Research (Niesr) said that even under a best-case scenario the UK economy would grow at a much slower pace this year and next because of the Middle East conflict. Continue reading...

Israeli strikes killed 14 people and wounded 37 on Sunday, Lebanon's health ministry said, as the Israeli military warned residents to leave ‌seven towns beyond the "buffer zone" it occupied before a ceasefire that has failed to fully halt hostilities.

Rabbis Charley Baginsky and Josh Levy say criticising Israeli government is not disloyalty but a Jewish obligationThe UK’s most senior progressive rabbis have warned that Israel’s current political direction risks becoming “incompatible with Jewish values”, while insisting that criticism of the country’s government is “a Jewish obligation” rather than an act of disloyalty.Rabbi Charley Baginsky and Rabbi Josh Levy, co-leads of Progressive Judaism – the newly formed movement representing around a third of synagogues in the UK – said Israel’s trajectory could pose an “existential threat” not just to the country itself but to Judaism. Continue reading...

Australia is dependent upon UK’s ability to deliver new submarines, but report finds ‘cracks are already beginning to show’ “Cracks are already beginning to show” in the UK’s funding for the Aukus agreement that could derail the ambitious nuclear submarine plan, a British parliamentary inquiry has found, highlighting a threat to Australia’s security.UK shipbuilding has been under-funded for decades and the country’s submarine availability is “critically low”, the House of Commons defence committee’s report found. Continue reading...