Middle East war creating ‘largest supply disruption in the history of oil markets’

Oil markets are facing the “largest supply disruption in history” as the war in Iran continues to block tankers from shipping millions of barrels of crude each day, the world energy watchdog has warned.The International Energy Agency (IEA) said the supply shock ignited by Iran’s effective blockade of the strait of Hormuz meant the world faced a deeper crisis than after the Yom Kippur war of 1973 and the 2022 outbreak of war in Ukraine.The warning came as Iran issued a statement that was said to be the first from its new supreme leader, Mojtaba Khamenei, to call for the vital trade artery to “remain closed”, in a blow to hopes of a resolution to the crisis.In response, global oil prices passed $100 (£75) a barrel on Thursday as widespread Iranian attacks on energy facilities in the Middle East overshadowed a vast release of government reserves.In an attempt to calm concerns over oil supplies, the IEA ordered the largest release of government reserves in its history on Wednesday, when its 32 members unanimously agreed to release 400m barrels of emergency crude

Antibiotics need coordinated G7 investment | Letter

Recent coverage of the pipeline of new antibiotics (Pipeline of new drugs to fight superbugs is ‘worryingly thin’, experts warn, 11 March) is a timely reminder that antimicrobial resistance is one our most urgent health crises. The reason the pipeline is so thin is a fundamental market failure.One of the most logical ways to protect antibiotics is to limit their use to the most essential cases, but this means fewer antibiotics sold. If revenues are limited, companies have less incentive to invest in developing and manufacturing new antibiotics. This is where policy intervention is crucial

UK regulator examines IT glitch that enabled bank customers to see others’ accounts on app

The UK information regulator is examining an IT glitch that enabled some customers of Lloyds, Halifax and Bank of Scotland to see other users’ transactions when they logged into their banking app.The Information Commissioner’s Office (ICO) said it was “aware of an incident affecting some online banking services” and that it would make inquiries.Worried bank customers posted on social media they feared they had been hacked when they checked their account and were greeted with the details of other people’s finances, including cash withdrawals and benefits payments.In a Facebook post, the consumer champion Martin Lewis said people had been messaging about “being shown other people’s transactions”.In response, the founder of MoneySavingExpert was inundated with close to 2,000 comments from worried bank customers

Middle East war creating ‘largest supply disruption in the history of oil markets’, as Brent crude hits $100 again – as it happened

Time to recapOil prices have jumped again after a statement from Iran’s new leader said the crucial Strait of Hormuz should remain closed.Brent crude has climbed by 10% to over $101 a barrel, on track to end the day over the hundred dollar a barrel mark for the first time in the crisis.US crude is also up 10% at $96.55 a barrel.Crude prices jumped after Iran’s supreme leader, Ayatollah Mojtaba Khamenei apparently called for national unity and said that all US bases in the region should close or face attacks

John Lewis pays first annual staff bonus in four years as profits rise

The owner of John Lewis and Waitrose has paid an annual bonus to workers for the first time in four years after underlying profits rose by 6%.The retail group’s 69,000 employees – which it calls partners – will share £35m, the equivalent of 2% of salary, after it recorded an increase in sales and profits. The payout amounts to about one extra week of pay.Sales at the John Lewis Partnership rose 5% to £13.4bn and profits increased to £134m in the year to 31 January, slightly behind expectations in what the chair, Jason Tarry, called “a subdued market”

Welsh Water to pay £44.7m after ‘unacceptable’ sewage works failings

Welsh Water is to pay a proposed £44.7m after the industry regulator found “serious and unacceptable” breaches in the supplier’s sewage and network services.The water authority for England and Wales, Ofwat, said the non-profit Dŵr Cymru, or Welsh Water, failed to properly operate, maintain and upgrade its wastewater network to ensure it could cope with levels of sewage.Ofwat also found the company also did not have “adequate processes in place or oversight by senior bosses”.The planned enforcement package will include £40

Shell CEO’s pay jumps 60% despite slump in profits at oil company

The chief executive of Shell saw his pay jump more than 60% to almost £14m in 2025 despite a slump in profits at the oil company and prospects of rising pump prices related to war in the Middle East.The package for Wael Sawan, who took the top job in 2023 and has refocused the company on fossil fuels, rose from £8.6m in 2024 to £13.8m in 2025.The increase, which was announced in Shell’s annual report, triggered an immediate condemnation from pay campaigners, who said people were unlikely to “look favourably” on Sawan’s remuneration package given fears around another rise in energy and fuel prices linked to the US-Israeli war on Iran

Oil price tops $100 again as Iran strikes economic targets across Middle East

Oil prices have again topped $100 a barrel as widespread Iranian attacks on energy facilities in the Middle East overshadowed a vast release of government reserves.As Donald Trump vowed to “finish the job” and press ahead with the US-Israel war on Iran, the country’s regime stepped up retaliatory strikes on economic targets across the region.Several merchant ships were struck in and around the strait of Hormuz, one of the most important arteries in global trade. Three crew members onboard one of the ships – the Thai-registered Mayuree Naree – were “believed to be trapped”, the vessel’s owner said.Meanwhile, Iraq halted all operations at its oil ports after an attack on two nearby tankers

Estée Lauder sues Jo Malone over use of her name on Zara fragrance

Estée Lauder is taking legal action against the British perfumer Jo Malone after she used her name on a fragrance for the fashion chain Zara.Malone sold her perfume brand to Estée Lauder Companies in 1999 in a deal under which she was blocked from using her name for particular commercial reasons including the marketing of fragrance.Malone stepped down as creative director of the Jo Malone brand in 2006 and has since said she regretted selling the rights to her name, calling it the “biggest mistake of my life” in several interviews.After a non-compete clause ended in 2011, Malone set up the Jo Loves brand. In 2019, the perfume brand launched a collaboration with Zara that included eight scents

How will Australians’ flights to Europe be affected, and at what cost, as the Iran war rages on?

Australians planning to fly to Europe in the northern summer face uncertainty over routes, insurance and even safety, as well as rising prices, as a result of the Middle East war.Major airlines operating through the region – including Emirates and Qatar, both popular choices for Australians heading to Europe – are still reeling amid the war between Israel, the US and Iran. Both carriers are only operating limited flights as they work to alleviate a backlog of passengers stuck in Dubai or Doha.But with European summer on the horizon, Australians are questioning how they may get overseas, and what it might cost.Zara Zarezadeh, a lecturer in tourism at Griffith University, says any international event, whether it be a conflict, political instability or a pandemic, would influence tourist behaviour in both the short and long term

Billionaire Zara founder Amancio Ortega to receive €3.23bn dividend

The billionaire founder of Zara is to receive a company record €3.23bn (£2.8bn) dividend this year from the world’s biggest fashion retailer.Amancio Ortega, who still controls 59% of Spain’s Inditex and whose daughter Marta Ortega Pérez is now chair, will receive half his dividend in May and half in November – as will other shareholders.Inditex, which owns a raft of high street chains including Bershka, Massimo Dutti, Pull&Bear, Stradivarius and Oysho, said on Wednesday it would increase its dividend by 4% after a “robust operating performance” in 2025

Sir Ronnie Hampel obituary

Ronnie Hampel was a businessman’s businessman, a major force in the reshaping of ICI, Britain’s largest manufacturing company, in the 1990s and in the birth of the pharmaceutical company Zeneca (now part of AstraZeneca), as well as a powerful influence on other company boards.He was exceptionally well-connected. His place at the heart of the UK business establishment as chairman of ICI – from 1995 to 1999 – was highlighted by his regular golfing four which included the then cabinet secretary, the chairman of BP and the permanent secretary of the Treasury.Hampel, who has died aged 93, joined ICI in 1955 – in those days the company was known as “the bellwether of British industry”. He learned fast in a range of posts in its sprawling divisions

‘Highly problematic behavior’: Noma residency in LA starts with PR crisis

It was always going to be an indulgence for René Redzepi, the Danish-Albanian chef of Noma fame, to bring his exacting, innovative vision of haute cuisine to Los Angeles and spend several weeks tickling the palates of well-heeled diners at a hilltop estate once dubbed “the most beautiful home in Hollywood”.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more.The timing has certainly been unfortunate, since the US is now fighting a destabilizing war in the Middle East and food prices are climbing so steeply that many ordinary Americans can no longer afford to eat at McDonald’s, much less contemplate the counterintuitive delights of tacinga cactus, bougainvillea petals, mealworms and giant tuna eyes

Before sunrise: while Sydney sleeps, suhoor meals attract a lively social scene during Ramadan

Suhoor – the pre-dawn meal – is typically shared at home. But in Sydney customers also queue outside food trucks, restaurants and cafes with extended trading hoursIt’s just after midnight in an industrial courtyard in Auburn in Sydney’s west and a glow of string lights and the constant sizzle of a grill signal one of Ramadan’s newest late-night rituals. A food truck specialising in halal steak sandwiches has attracted a small crowd and a queue begins to form.The rest of the city is largely asleep but here the courtyard hums with life as young Muslims arrive in waves after evening taraweeh prayers, chatting and checking their phones as the clock edges closer to suhoor – the pre-dawn meal eaten during Ramadan before the day’s fast begins.Inside The Meat Up, a Lebanese husband-and-wife duo move quickly over the grill

How to use up limp herbs in a flavoured butter – recipe | Waste not

Compound butter is simply butter that’s been mixed with flavourings, both sweet and savoury, and is a tasty and easy way to give a small bunch of tired herbs new life. It can be melted over vegetables, stirred through pasta, grains or pulses, basted over meat or fish, spread on toast, or frozen in slices to use a little at a time. Think of this less as a recipe and more as a framework: taste as you go and decide whether you want something bold and explosive or a more gentle experience.Long before the TikTok revival, compound butter was something most home cooks admired on restaurant plates rather than made themselves. But it’s a really simple way to save a few tired herbs and give a meal a welcome boost, adding both serious flavour and visual impact

Chicken wings and soup: Helen Graves’ spring onion recipes

March is a tricky pin in the seasonal calendar, with energising winter citrus fading and spring’s stars yet to emerge. It’s a time when I find pleasure in reappraising ingredients that are routinely overlooked. Spring onions, say, which are often considered a garnish, but which are good for so much more. Their contrasting colourway is a clue to their varying intensity, with the white roots holding pungency and the greens more akin to especially bolshie chives. Today’s recipes harness the properties of both, bridging the gap between the current need for comfort and the warmer weather ahead

Chefs the world over strive for a perfect score from Rate My Chives. Could I achieve one at home?

My goal: a perfect 10 from Rate My Chives, the ‘number one authority on chives worldwide’. Why is this so hard?Get our weekend culture and lifestyle emailChopping chives, I notice my weak wrists for the first time. My knife is connected to my hand which is connected to my wrist, which is flopping about like an overcooked piece of asparagus.“You’ve got to keep them more sturdy,” says chef Trisha Greentree. “Lock in that line

What’s the secret to crisp-skinned fish? | Kitchen aide

When I fry fish, the skin never goes crisp, and instead either sticks, rips or goes limp. What am I doing wrong?Emily, by email “The secret to perfectly crisp fish skin is heat,” says Mitch Tonks, founder of Rockfish in south-west England. Well, heat plus a little bit of prep. Fish are, of course, moist things, and moisture is the enemy in the quest for that golden-brown crust, so the first thing Emily is going to need to do is dry that skin out. “If the fish has any moisture on it, it will create steam while it’s being cooked, which, in turn, will make the skin go soggy and inedible, rather than crisp and delicious,” says British fish guru Nathan Outlaw, whose latest book, On Fish: A Seafood Handbook, is published next month

Thomasina Miers’ recipe for stuffed cabbage in white wine and escabeche, with buttered dill and pea rice | Sunday best

I love stuffed vegetables. When I was young, I came across a recipe for stuffed aubergines in an old book of my mother’s and must have cooked it a score of times. Later, in the early 1990s and to the echoes of nouvelle cuisine, Delia Smith showed us how we could work similar magic with peppers and tomatoes. Then the technique went deeply out of fashion, but I stayed loyal, and continued quietly stuffing tomatoes, pumpkins and courgettes, all no doubt influenced by my travels in Mexico. Thoday’s stuffed cabbage is inspired by the most delicious tongue in a tantalisingly light escabeche that I once had at Nicos in Mexico City, and also because I can’t get enough of cabbage at the moment

Georgina Hayden’s quick and easy recipe for cauliflower, lentils and chorizo | Quick and easy

The transformation that cauliflower undergoes in a very hot oven means there is now rarely a time when I don’t roast it first. Making cauliflower cheese? Roast, don’t boil – you’ll end up with a richer, potentially less watery finish. Soup? Absolutely roast it first – it is a gamechanger and almost feels insulting to boil it, because that doesn’t release its full potential. Here, roasting cauli with a few spices and paprika-laced chorizo is a dream, resulting in a salad or side that’s packed with flavour and creates its own intense dressing. It is the sort of dish I will make just for me, then proudly tub up leftovers for meals the following days

Meal-breakers: can any relationship survive food incompatibility?

For Anna Jones, it’s lemons. For Ben Benton, it’s rice. For Gurdeep Loyal, it’s anchovies on pizza and, for me, it’s Yorkshire Tea in the morning. I could – did – date someone who “didn’t drink hot drinks”, but I would never have married a man I couldn’t make tea for when I woke up, or who couldn’t make me tea in turn.The Guardian’s journalism is independent

‘Peas are criminally overlooked!’ Seven fabulous forgotten superfoods

Yes, we all know blueberries and kale are good for us. But what about some of the other less well-marketed food heroes that have fallen out of favour?Think of a superfood. What comes to mind? Avocado? Turmeric? Quinoa? Many of us will have a grasp of the most mainstream so-called superfoods. The ones that have become dietary superheroes thanks to savvy marketing. Larger-than-life in the public imagination, they walk among us with a sheen: blueberries with their polyphenols; kale and its vitamin K; goji berries and all their antioxidants

How to make salt and pepper squid – recipe | Felicity Cloake's Masterclass

This crisp, salty, pungently aromatic dish is a strong contender to kick off my fantasy final meal – it wouldn’t really go with the steak frites and trifle to follow, but I find the combination of hot, crunchy batter and soft, creamy squid utterly irresistible. Happily, there’s no need to save it for the end times when it’s so easy to make for dinner tonight.Prep 10 min Cook 15 min Serves 2350g small sustainably-sourced squid, cleaned and defrosted, if necessary¾ tsp black or white peppercorns ¾ tsp Sichuan peppercorns ¼ tsp fine salt 50g potato starch, or cornflour 1 generous pinch MSG (optional)1 egg, beatenNeutral oil, to deep fry1 red chilli, stalk, pith and seeds discarded, flesh finely sliced2 spring onions, trimmed, white and green parts finely sliced1 garlic clove, peeled and slicedIf you’re not a fan of the cephalopod, this recipe can be easily adapted to suit anything from small pieces of chicken or fish to whole prawns or mushrooms (king oysters seem to be the most popular, if you can get hold of them; as with anything with a high water content, however, you’ll need to blanch and drain them first).I prefer to use smallish rather than baby squid for this, but it will work with all sizes. Ask your fishmonger to clean them for you, if they’re not already done (those sold frozen generally are), or look at a guide online to help if you’re unsure of how to do this

Trillium, Birmingham B4: ‘There’s a general feeling of people – gasp! – actually enjoying life’ – restaurant review | Grace Dent on restaurants

Trillium, the latest Birmingham restaurant by Glyn Purnell, is absolutely not one of those po-faced, sedate, mumbly kind of places where some Ludovico Einaudi is piped plinky-plonkily throughout the dining room while guests stiffly eat six teensy courses. In fact, it’s quite the opposite, even if Purnell, via the likes of Purnell’s and Plates, is pretty much synonymous throughout the Midlands with fancy, special-occasion, Michelin star-winning refinement. Yet on a recent Saturday night, in this brand new, glass-fronted, multicoloured mock birdcage, the talk is loud, the music is roaring and the plates of battered potato scallop with soured cream are appearing thick and fast.Trillium is a genuine attempt by a Michelin-starred restaurateur to translate some of their best bits into a semi-rowdier yet still upmarket stage. It’s been attempted many times by other chefs (see Corenucopia and Bar Valette for details), but, miraculously, Purnell seems to have pulled it off