BBC News

The first set of documents relating to the appointment of Lord Mandelson as British ambassador to the US has been released.

UK Prime Minister Keir Starmer was advised that Mandelson's relationship with convicted sex offender Jeffrey Epstein posed a "general reputational risk" ahead of his confirmation as US ambassador, the files show.

The documents say Mandelson asked for a payout of £547,000 after he was sacked last year - he received £75,000.

The BBC understands that Lord Mandelson's view is he answered questions about his relationship with Epstein in the vetting process accurately.

Lord Mandelson has repeatedly let it be known that he believes he has not acted criminally, did not act for personal gain and is cooperating with the police.

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A third cargo vessel has been hit by an "unknown projectile" in the Strait of Hormuz, the UK Maritime Trade Operations (UKMTO) has reported.

It was reported at 02:05 GMT that the vessel had been hit 93km (50 nautical miles) north-west of Dubai, with the crew reported "safe and well" and with no environmental impact.

The UKTMO earlier reported on Wednesday that a ship has been hit off the UAE coast and another ship was being evacuated after an attack north of Oman.

The Strait of Hormuz is the world's busiest oil shipping channel, with about 20% of the world’s oil carried through it.

But the war has severely reduced sea traffic through the area, with the UKTMO saying there have been reports of 13 ships attacked since the conflict began.

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The boss of global shipping giant Maersk has told the BBC about the huge disruption the war in the Middle East has caused - warning it has already had a 'profound' effect - that is only going to get worse if the Strait of Hormuz isn't reopened soon.

Maersk is the world’s number two shipping line and has currently suspended all bookings to and from the Gulf states, as well as Iraq and Jordan.

Ships have also been rerouted away from the Suez Canal and are instead going around the Cape of Good Hope. Vincent Clerc, the CEO of Maersk, has spoke exclusively to BBC’s business reporter Jonathan Josephs.

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Iran said it has launched its 35th wave of operations, as it continues its strikes across the region including in Saudi Arabia, the UAE, and Kuwait.

Saudi Arabia shot down missiles aimed at its military air base, and drones targeting its major oilfield, while the UAE said early this morning it was also responding to a barrage of missiles. Bahrain has warned residents to seek shelter.

There have been more than 10 suspected Iranian attacks on vessels operating around the Gulf since the war began.

The US is worried that the Iranians might start mining the Strait of Hormuz - they have before - and has attacked 16 mine-laying boats near the crucial water passageway.

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The US has carried out more mass airstrikes on Iran on the 11th day of the war. The US Defence Secretary Pete Hegseth said it was the "most intense" onslaught on Iran since the start of the conflict.

A US human rights group said more than 1,245 people have been killed in Iran since the conflict began including around 194 children. Around 100,000 people are believed to have fled their homes.

President Trump has attempted to reassure markets that the war will not be a long one, after sharp rises in oil prices. The US President said that if any mines have been laid in the Strait of Hormuz, a key shipping lane off Iran, they must be removed.

Clive Myrie and Reeta Chakrabarti present BBC News at Ten reporting by Jeremy Bowen, Sarah Smith, Paul Adams, Jonathan Beale, Darshini David and Daniel Sandford.

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President Trump has told reporters the Iran war will be over “very soon”, but not this week.

Meanwhile, US Defence Secretary Pete Hegseth says this will be the “most intense” day of US strikes on Iran so far. So how close is the war to ending?

Alex and James are joined by Caitríona Perry, Chief Anchor of BBC News in Washington, to try to decode what Trump might mean.

Meanwhile, Trump has also threatened Iran with "death, fire, and fury" if it continues to disrupt shipping in the Strait of Hormuz, which carries around a fifth of global oil supplies.

Michelle Wiese Bockmann, senior maritime intelligence analyst at Windward, joins Alex and James to explain why the Strait is so vital.

Newscast brings you daily analysis of the latest political news stories from the BBC. New episodes released every day. If you're in the UK listen on BBC Sounds: https://bbc.in/4guXgXd

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00:00 What does Trump mean when he says the war is nearly complete?

01:45 How does Trump get in touch with journalists directly?

04:30 What is Trump planning next in Iran?

12:15 What do US voters think about the war in Iran?

18:30 What does the war in Iran mean for shipping and trade?

US Defence Secretary Pete Hegseth said today would be the "most intense" day of US strikes on Iran.

White House Press Secretary Karoline Leavitt confirmed the war won't end until Iran's "complete and unconditional surrender" and when President Donald Trump determines his objectives have been met.

Trump has also warned Iran against deploying naval mines in the strategic shipping route linking the Gulf to the Arabian Sea after reports emerged that plans were under way to do so.

Meanwhile, people in Tehran have told the BBC of the impact of US-Israeli strikes, saying, "They hit hard last night."

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President Donald Trump has said the US-Israel war with Iran is "ahead of schedule" and could be over "very soon". Hours later, Secretary of Defense Pete Hegseth said Washington is operating on its own timeline, and will not end the conflict until Iran has been "totally and decisively defeated".

Iran's military leaders said Iran, not the US, will determine the war's end. And Prime Minister Benjamin Netanyahu warned that Israel is "not done yet" in Iran.

Now that the conflict has spread across the Middle East, is the timeline for the war out of Donald Trump's hands? Can it actually end soon, or are there too many other dimensons at play?

We speak to the BBC's US State Department correspondent Tom Bateman.

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Oil prices surged to a four-year high on Monday, before dipping after President Trump said the Iran war will end “very soon”. Just days ago, Trump said that he would not stop the war until Iran’s “unconditional surrender”. But how long will the Iran war last? And could oil be the deciding factor?

Turmoil in the region had led to the near complete shutdown of shipping traffic through the Strait of Hormuz, and Iran has reportedly said it will not allow “one litre of oil” to be exported from the Gulf if US-Israeli attacks continue. This has lead to rises in global oil and gas prices. How much impact is this going to have on the cost of living?

We speak to BBC economics correspondent Andy Verity about the lessons both the US and Iran might be learning from the oil crises of the 1970s, and ask whether oil could determine how and when the war ends.

New episodes of The Global Story are released daily. If you’re in the UK, listen on BBC Sounds. If you live outside the UK, listen on BBC.com or wherever you get your podcasts.

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Chapters:

00:00  Is the price of oil what will decide the outcome of the Iran war?

01:32 How could the war affect oil and gas prices?

04.05 How could the war affect the the cost of living?

05:34 Is oil one of the main reasons for the war?

06:39 What is the significance of Kharg Island?

09:52 What happened during the 1970s oil crisis?

13:10 Is Iran using oil as a tactic in the war?

16:04 Is there less likely to be another oil crisis?

18:00 How can the markets be calmed?

21:27 Is the US insulated against oil price shocks?

The world’s biggest producer of crude oil has warned of “catastrophic consequences” if the Strait of Hormuz remains blocked to shipping for an extended period.

Aramco said the longer the disruption to oil exports went on, the more drastic the impact to global exports would be.

The price of oil has fallen from yesterday’s highs but fears of further volatility remain.

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