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Economy

Oil prices drop over 10% after Iran declares Strait of Hormuz 'open'

Oil prices have dropped over 10% in less than two hours after the Minister for Foreign Affairs of Iran declared the Strait of Hormuz "completely open" for the remainder of the current ceasefire with the US.

Iran

US and Iran announce Strait of Hormuz open, Trump hints at wider deal

Iran and US declare Strait of Hormuz "completely open," but Iran adds that passage is on a "coordinated route" set by Tehran.

Lebanon

Israel says military operation against Hezbollah 'still not complete'

US President Donald Trump announced a 10-day ceasefire on Friday after a meeting between the Israeli and Lebanese ambassadors, the first direct diplomatic talks between the two countries in decades.

Europe News

EU downplays jet fuel shortage risks despite IEA warning

EU officials and the International Energy Agency have contrasting narratives over jet fuel supply. While the European commission minimises the risk, it acknowledges that the market remains “tight” and says the EU is prepared to respond appropriately.

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Iran

Hormuz standoff shows no sign of letting up for shipping to resume

Maritime traffic in the Strait of Hormuz remained at minimal levels on Friday resulting in a giant parking lot, as the US-Iran standoff continues with the same cautious approach since Monday.

Markets

London metals index at record high amid aluminium supply squeeze fear

The London Metal Exchange’s benchmark has climbed to a fresh record as aluminium prices surge on fears of a severe and lasting shortfall in global supply following disruptions in the Middle East.

Economy

Iran war energy shock drives nuclear power plans in Asia and Africa

The Iran war has exposed the fragility of global fossil fuel supply chains. Now dozens of countries across Asia and Africa are turning to nuclear power as their answer.

Europe News

Europe-led coalition prepares mission to reopen Strait of Hormuz

A group of more than 40 countries is meeting in Paris to finalise early plans to reopen the Strait of Hormuz. The France and UK-led coalition insists the operation will only kick in when the war is over. Countries say they are ready to send warships, personnel and demining support.

Europe Today

Iran war ripple effects could lead to other conflicts - UN's De Croo

The head of the UN Development Programme told Euronews that the impact of the Middle East conflict is being felt "way beyond the region", and that, in the absence of a resolution, the groundwork for further conflicts is being laid.

Europe Today

Ribera, De Croo on Euronews as France, UK lead talks to reopen Hormuz

Tune in to Europe Today, Euronews' flagship morning programme at 8 am Brussels time. In just 20 minutes, we bring you up to speed on the biggest news of the day.

Climate

‘Fossil fuelled war’ could give rise to a historic ‘climate reset’

Experts are calling on governments to ‘reduce the risk of every fossil fuel disruption turning into a global energy and economic shock’.

Europe News

Germany could send minehunting boats to secure Strait of Hormuz

According to a report in the Süddeutsche Zeitung newspaper, the navy could also use its logistics base in Djibouti for maritime reconnaissance missions.

Lebanon

Israel and Lebanon agree to 10-day ceasefire, Trump says

Trump had announced earlier on Thursday that the leaders of Israel and Lebanon would speak about halting the fighting, in what would have been the first direct conversation in more than 30 years.

Qatar

Pakistan PM Sharif visits Doha as US–Iran mediation gathers pace

With the fragile ceasefire holding and signs of de-escalation emerging, Pakistan’s mediation efforts to revive US–Iran talks are gathering pace, reflecting a broader push to contain tensions across the Middle East.

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Iran to blame for closing Strait of Hormuz, says Gulf leader

The Gulf Chief Jasem Mohamed AlBudaiwi told Euronews that Iran is responsible for weaponising the Strait to score a geopolitical win and should deal with the effects.

Iran

US to blockade Iran ports 'as long as it takes,' Hegseth says

The US naval blockade of Iran’s ports came into effect on Monday, with President Donald Trump warning that any attack ships would be “eliminated” if they attempted to break it.

Europe News

Europe has 'maybe six weeks of jet fuel left,' IEA chief warns

Last week, the Airports Council International Europe wrote to the European Commission, saying jet fuel shortages could begin at the start of May if tankers do not start passing through the Strait of Hormuz.

Sport

Infantino insists Iran will play at US-cohosted World Cup despite war

The FIFA chief has confirmed that Iran will play in the World Cup despite the ongoing war, saying sport should build bridges and remain outside politics.

Markets

S&P 500 and Nasdaq hit new all-time highs despite Iran war effects

The S&P 500 and the Nasdaq closed at record highs on Wednesday despite the Iran war dragging on, the Strait of Hormuz remaining largely blocked and global economic growth forecasts being cut amid rising inflation.

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Australia: Refinery fire raises fuel supply concerns amid Iran war

Fire at Viva Energy's Geelong refinery, which supplies 10% of Australia’s fuel, sparks supply fears as Iran war keeps global prices elevated.