Business

Strikes on the natural gas production facilities of Iran and Qatar have sent energy prices soaring, with central bankers around the world struggling to set monetary policy amid a highly uncertain inflationary outlook. We take a closer look. Also in this edition: the French shipbuilding industry welcomes the start of construction of the country's next nuclear-powered aircraft carrier.

The Trump administration is taking steps to curb rising energy costs, as it continues to wage war in the Middle East. The US is easing sanctions on Venezuela, and suspending a century-old shipping law, in an effort to get more oil supplies into the global market. Meanwhile, oil prices continue to rise, with crude topping $109 per barrel, as Gulf energy infrastructure is targeted by strikes. Also in the show: the UN's maritime agency seeks safe passage for sailors trapped by the conflict. 

The long-awaited return to the stage of K-pop sensation BTS is set to boost South Korea's tourism and consumer economy. Our regional correspondents report. But first: the war in Iran upends the spring travel season for airlines and passengers alike, and investors await the latest rate call from the US Federal Reserve.

Two Indian-flagged tankers together carrying over 92,000 metric tonnes of liquefied petroleum gas have arrived at ports in Gujarat state after safely passing through the Strait of Hormuz. New Delhi has been negotiating with Iran, but the government denies discussing the possible release of Iranian tankers it seized in February as part of the bargain. Meanwhile, global crude prices jumped again amid new Iranian attacks on the UAE. 

Iran sends drones to attack the UAE port of Fujairah in the Gulf of Oman, raising the stakes as Gulf states send their blocked crude through pipelines away from the contested Strait of Hormuz. We take a closer look. Also in this edition: central banks face a dilemma as high oil prices threaten to both rekindle inflation and slow global growth.

Global oil prices fell sharply on Monday after a Pakistan-bound oil tanker passed through the Strait of Hormuz with its transponder on. The decline came even as countries have so far rebuffed Donald Trump's request to send warships to escort vessels through the waterway. Meanwhile, the International Energy Agency said its members could unlock more oil from their strategic reserves after agreeing to jointly release a record 400 million barrels from their emergency stockpiles. 

New Delhi walks a policy tightrope, with public anger mounting over shortages of cooking gas as the US demands support for its war on Iran. Also in this edition: China's economy turns in stronger than expected figures, and oil prices continue to rise as Washington threatens to strike Iran's oil export infrastructure.

Brent crude has once again topped $100 a barrel as energy markets brace for the Iran conflict to drag on. US President Donald Trump says he is less concerned about high oil prices than about stopping Iran, while his energy secretary has confirmed the military cannot yet escort tankers through the Strait of Hormuz. Also, Indian households and businesses are facing high prices and shortages of cooking fuel, linked to disruptions in the Gulf.

Oil markets fell and picked up again on Wednesday, as the International Energy Agency reportedly considers its largest-ever release of emergency crude stockpiles to stabilise global markets, while Iran is said to have laid naval mines in the Hormuz Strait. In this edition, we look at how the latest developments in the ongoing Middle East war are affecting markets.

As the Iran war continues to disrupt oil supplies from the Middle East, Paris has hosted a summit aimed at boosting the use of civilian nuclear energy. Announcing a plan to provide a €200 million guarantee for investment in innovative nuclear technologies, European Commission President Ursula von der Leyen said it had been a strategic mistake for the continent to reduce the share of nuclear power in its energy mix.