Oil price continues to rise amid Middle East crisis but stock markets rebound across Asia

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Stock markets have rebounded in Asia after days of heavy losses driven by the war in the Middle East, but oil and gas prices have continued to climb amid disruption to supplies.South Korea’s KOSPI, which posted its biggest ever fall on Tuesday of 12%, rose by almost 10% on Thursday, while Japan’s Nikkei climbed by 1.9%.MSCI’s Asia-Pacific index excluding Japan jumped by 2.7%.

Oil rose further after Iran’s Tasnim news agency reported that US oil tanker in the northern Persian Gulf had been hit by a missile launched by Iranian forces.Brent crude lifted by 3.3% to $84 a barrel.Gas prices also pushed higher, with UK gas up almost 1%, while European natural gas futures climbed 2%.Qatar, the Gulf’s biggest liquefied natural gas producer, suspended activity at its facilities on Monday and declared force majeure on gas exports on Wednesday, freeing it from contractual obligations to its customers.

Reuters quoted sources as saying that a return to normal production volumes could take at least a month.In the Middle East, the Abu Dhabi stock market fell by 2.6% while the Dubai exchange was down 2.2%.Both exchanges said they would temporarily set a 5% lower price limit on securities.

In London, the FTSE 100 index slipped by 0,3% in early trading, but later rose 60 points, or about 0,5%,Wizz Air, which has cancelled flights to and from Israel, Dubai, Abu Dhabi and Amman until 15 March, warned of a €50m (£43m) hit to annual profits, also reflecting the impact of higher jet fuel costs,This means net profits this year are likely to be below its previous range of a €25m loss to a €25m profit, the Hungarian airline said.

Its London-listed shares fell as much as 6%, and other airline stocks also declined.China’s government has told the country’s biggest oil refiners to halt exports of diesel and gasoline as it faces disruption to crude supplies, according to Bloomberg.Its reported that officials from the National Development and Reform Commission, the country’s top economic planning body, had met refinery executives and called for a temporary suspension of refined product shipments that would begin immediately.In South Korea, a ruling party lawmaker warned that the US-Israeli war with Iran, now in its sixth day, could disrupt supplies of important semiconductor manufacturing materials.South Korea’s chip industry, which supplies two-thirds of global memory chips, is also concerned that a prolonged conflict in Iran will lead to higher energy costs and ​prices, Kim Young-bae said after meeting with executives from firms such as Samsung Electronics and trade groups.

Stephen Innes, managing partner at SPI Asset Management, said: “The geopolitical backdrop remains as combustible as ever.President Donald Trump continues to project confidence in the military campaign against Iran even as the timeline for operations remains murky.Missiles are still flying across the region, and bombs are still falling.“Yet the strategic calculus on trading desks has begun to shift subtly but importantly.Intelligence circulating through US Command channels suggests Iran’s conventional military capacity is deteriorating quickly after huge naval losses and sustained airstrikes on missile-launching capabilities.

”He also pointed to “solid” economic data for the US, a strong ADP jobs report and a jump in service sector activity, according to a survey.Another boost to Asian stock markets came from China setting out a five-year roadmap to speed up scientific breakthroughs and embed AI across its industrial economic machine.
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£25 for a cookie? What the baffling luxury bakery boom tells us about Britain

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I still remember, when I was a kid, the end of spring and early summer when markets in Jerusalem and across Palestine overflowed with freshly harvested freekeh. As you approached, the air carried a smoky, earthy aroma. Freekeh is an ancient grain, a staple across the Middle East and Turkey, made from green wheat roasted over open fires to burn off the husks, which gives it the characteristic nutty flavour. The name comes from the Arabic freek, meaning “to rub”, which describes how the grains are cleaned, dried, cracked and stored for the year.Throughout the Middle East and Palestine, mahashi (stuffing vegetables) is a true labour of love, creating dishes that are designed to be shared

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Australian supermarket muesli bars taste test: the worst is ‘both dry and moist’

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Why do my potatoes go black after cooking? | Kitchen aide

Why do some potatoes turn black on cooking, and how do I stop this happening? I usually leave them to cool in the cooking water, but should I plunge them in cold water instead?”Jean, Hampshire“We’ve all been there,” sympathises spud queen Poppy O’Toole. “It’s a harmless chemical reaction,” the author of The Potato Book continues, “but it looks rank and only gets worse with the slow cooling process that Jean’s using.” But let’s wind things back for a moment. According to the food science guru Harold McGee, in his bible On Food & Cooking, the darkening of cooked potatoes “is caused by the combination of iron ions, a phenolic substance [chlorogenic acid] and oxygen, which react to form a pigmented complex”. So what’s the solution? Make the pH of the water “distinctly acidic”, which McGee does by adding cream of tartar or lemon juice “after the potatoes are half-cooked”

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‘Where the magic really happens’: the influencers out to celebrate – and save – Britain’s ‘proper boozers’

The Calthorpe Arms on Gray’s Inn Road is a fairly atypical central London pub. With patterned red carpets, brass fittings, leather bar stools, a pool table and Christmas tinsel still hanging in early February, it feels very much a “local”, although on a Thursday evening it’s busy with the post-work crowd.It’s the fifth time Niall Walsh, who works nearby and runs the Proper Boozers Instagram account, has visited in recent months. “It’s just off the beaten track, but easy to get to,” Walsh says over a pint of Harvey’s. “You can get a real, authentic pub experience

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Stuffed battered chillies and chilli cheese toasties: Maunika Gowardhan’s favourite Holi snacks – recipes

Celebrate Holi, the festival of colours and the arrival of spring, with sumptuous, delicious and addictive snacks. The bharwa mirchi pakode ki chaat is full of flavour and topped with tamarind, green chutney and chaat masala. Alongside it, a street-food favourite from my home town of Mumbai: the classic chilli cheese toastie stuffed with potato, peppers and green chutney. Both are the sort of dishes you can eat at any time of day, and the unifying ingredient is the humble potato, which I feel is the backbone of Indian cooking, be it in curries, stir-fries, flatbreads, snacks and even raitas.I’d happily eat this delicious street-food classic on any day of the week