Global News

FAO data shows global food prices rose for a third straight month in April, driven by higher energy costs, Middle East disruptions, and tighter fertilizer and wheat supply outlooks.

The U.S. and Iran are reportedly close to a 14-point peace memorandum that could end the conflict, ease sanctions, and resume nuclear talks, triggering a sharp drop in global oil prices.

Global oil prices fell sharply as optimism over US–Iran peace talks eased Middle East supply risks, with WTI and Brent dropping to two-week lows despite continued US inventory draws.

U.S. President Donald Trump said the United States has fully taken control of the Strait of Hormuz amid escalating tensions with Iran, as Tehran rejects the claim and both sides trade warnings over maritime control.

Global oil prices jumped over 3% after renewed attacks in the Strait of Hormuz despite a claimed U.S. ceasefire, intensifying supply concerns and forcing airlines to cut capacity worldwide.

EU fuel prices surged in March, with diesel rising over 19% month-on-month and gasoline up more than 10%, according to Eurostat, highlighting broad inflationary pressure across member states.