Summary
Articles report that President Donald Trump has extended the deadline to re-open the Strait of Hormuz by five days, following talks with Iran. This comes amid rising oil prices due to a blockade by Iran. Other papers focus on the economic impacts of Middle Eastern conflicts, especially on the UK's economy.
Key Facts
- President Trump extended the Strait of Hormuz re-opening deadline from five days to ten.
- Trump claims Iran talks are progressing well.
- Rising oil prices have resulted from Iran's blockade of the Strait of Hormuz.
- Trump thanked Iran for allowing 10 Pakistani-flagged oil tankers to leave safely.
- He criticized UK aircraft carriers and NATO for limited support in the conflict.
- UK's economic growth forecast has been reduced by the OECD due to Middle East tensions.
- Inflation in the UK is expected to rise to 4%, double the Bank of England's target.
- Chancellor Rachel Reeves is accused of benefiting from increased fuel tax receipts due to rising oil prices.
