Stocks rise and oil dips on hopes of 15-point Iran peace plan
The price of oil has dipped and stock markets around the world have moved higher on reports that the US has sent a 15-point framework for peace to Iran, amid hopes of a ceasefire in the Middle East.Positive sentiment may also have been bolstered by reports that Iran had announced it was permitting “non-hostile” ships to pass safely through the strait of Hormuz, a move that could help to reopen the vital shipping lane.Oil prices had fallen by 4% in the early hours of Wednesday, with the Brent crude benchmark sinking below $100 a barrel, as traders reacted to the prospect of an easing of the squeeze on supplies.Stock markets in Asia moved higher, with Japan’s Nikkei closing up 2.9% and Hong Kong’s Hang Seng adding just over 1%.
European markets also rose,The FTSE 100 in London closed up 1,4%, Germany’s Dax rose 1,3% and France’s Cac 40 climbed by about 1,3%.
US stocks extended gains, with the the Nasdaq gaining 0.7% and the S&P 500 and Dow Jones both up about 0.6%.Oil later rose slightly to hover at about $100 for most of the day amid mixed signals about the status of negotiations between the US and Iran, after Tehran denied any talks had taken place since the start of the war.Amelie Derambure, a senior multi-asset manager at Amundi, said: “The mood is on the positive side.
[The] market is trading now the idea that peace talks or a ceasefire could be on the way.”Iran’s de facto closure of the strait of Hormuz has all but halted global shipments of oil and gas in a narrow channel through which 20% of global supplies normally transit, sparking what the International Energy Agency has called the largest ever disruption to oil supply.Just four vessels were recorded as having transited the strait on Tuesday, the latest available data from S&P Global showed, although others may have done so with their transmitters switched off.That represents less than 3% of the historical average daily traffic level of 138 vessels registered before the war.More than 30 countries including the United Arab Emirates, the UK, France, Germany, Canada and Australia have signed a joint statement agreeing to work on “appropriate efforts” to safeguard the Hormuz channel.
However, Iran’s foreign affairs ministry has told the UN security council and the International Maritime Organization that “non-hostile” vessels – defined as those not taking part in or supporting “acts of aggression against Iran” – are permitted to pass through the strait.A third of the world’s fertilisers also pass through the waterway, and a senior official at the World Trade Organization (WTO) has warned that disruption to fertiliser supplies is threatening global food security as a result of the impact on food production.The WTO’s deputy director general, Jean-Marie Paugam, told Agence France-Presse: “Fertilisers are the number one issue of concern today.If there is no more fertiliser, there is an impact on quantities but also on prices.The effect compounds the following year: harvests shrink and prices rise.
”Volatility in global markets since the outbreak of conflict in the Middle East has also affected the price of gold, traditionally seen as a safe haven asset during troubled times.Gold’s historic run – where it moved above $5,000 an ounce for the first time in January – appears to have come to an end since the outbreak of the Iran conflict.After holding steady in the first days of the war, gold has fallen by approximately 13% to about $4,550, calling into question the metal’s traditional role as a financial safety net.Separately, the boss of the world’s largest asset manager has said a prolonged conflict in the Middle East could lead to a rise in oil prices to $150 a barrel that would trigger a global recession.Larry Fink, the chief executive of BlackRock, which controls assets worth $14tn (£10.
4tn), told the BBC that if Iran remained a threat and oil prices remained elevated, there would be profound implications for the global economy.
No escape from the energy shock for UK business. A long-term strategy is still essential | Nils Pratley
The cost of energy for British business was a crisis even before the Iran war sent prices higher: the UK already had the highest electricity prices for industry among G7 countries. Now comes the next whack. How big will it be?Projections from the energy consultancy Cornwall Insight are steep for electricity and gas. For the former, it thinks increases of 10-30% are on the cards; for the latter 25-80%. The ranges are wide because, unlike with households, there are no price caps for businesses
Stocks rise and oil dips on hopes of 15-point Iran peace plan
The price of oil has dipped and stock markets around the world have moved higher on reports that the US has sent a 15-point framework for peace to Iran, amid hopes of a ceasefire in the Middle East.Positive sentiment may also have been bolstered by reports that Iran had announced it was permitting “non-hostile” ships to pass safely through the strait of Hormuz, a move that could help to reopen the vital shipping lane.Oil prices had fallen by 4% in the early hours of Wednesday, with the Brent crude benchmark sinking below $100 a barrel, as traders reacted to the prospect of an easing of the squeeze on supplies.Stock markets in Asia moved higher, with Japan’s Nikkei closing up 2.9% and Hong Kong’s Hang Seng adding just over 1%
UK iPhone users face over-18 age check to use services after update
Millions of Apple iPhone customers in the UK will now have to confirm they are 18 or older to use all available services, including by showing a credit card or by scanning an ID.The move, believed to be a first for a European market, comes amid pressure on tech companies from the government to do more to protect children online.The new requirement will be included in a software update. It was welcomed by Ofcom, the online regulator, which called it “a real win for children and families” and said it was part of a wider drive to “keep young people away from harmful content”.However, some users complained that it raised concerns about the privacy of the information that is uploaded to prove age
What are the rules on cryptocurrency donations to UK political parties?
Ministers are introducing a temporary ban in cryptocurrency donations following an official review.Philip Rycroft, a former senior civil servant, made the recommendation as part of a review into countering foreign financial influence and interference in UK politics.Rycroft said the moratorium would allow regulators to catch up, although a full ban was not deemed necessary. Nonetheless, “there is a risk that crypto assets are used as a vehicle to channel in foreign money”, he said.Donations of crypto assets – such as bitcoin, stablecoins and non-fungible tokens – to political parties are not illegal, although the moratorium will put these on hold
US runners led off course in chaotic half-marathon given entry to world championships
Three runners who were led off course in a race that served as a qualifier for the World Road Running Championships have been given entry into the upcoming competition.Jessica McClain, Emma Grace Hurley and Ednah Kurgat were leading the USA Track & Field Half Marathon Championships in Atlanta earlier this month when the guide vehicle took the trio off course. Molly Born, who had been more than a minute behind the leaders, came through to win the race, with Carrie Ellwood and Annie Rodenfels in second and third. McClain, Hurley and Kurgat finished in ninth, 12th and 13th respectively, around two minutes behind Born.As well as missing out on the first prize of $20,000, McClain, Hurley and Kurgat were deprived of the three qualifying places for the World Road Running Championships awarded to the top finishers in Atlanta
Lily James, Andy Murray and a million Britons: padel’s rise nears milestone
It was once seen as a quirky upstart or continental fad. But padel now has nearly a million players across the UK after participation levels more than doubled in 2025.According to LTA figures seen by the Guardian, 860,000 Britons played padel at least once last year – up from 400,000 in 2024 and 129,000 in 2023 – as the racket sport’s dizzying rise continued.The LTA, tennis’s national governing body, puts the extraordinary boom down to padel’s accessibility, with beginners able to play in minutes, more courts, and the cool factor from celebrities such as Eva Longoria, Lily James and Cristiano Ronaldo taking up the sport.Rapper Stormzy and tennis star Andy Murray have also become vocal advocates for the fast-paced racket sport, which combines many of the rules and scoring system of tennis with some elements of squash, including a back wall
Would Morgan McSweeney’s stolen phone have Mandelson messages on it?
Show of strength by Reform MPs at PMQs turns into a cameo appearance | John Crace
‘Doge of the left’ could save UK taxpayers up to £30bn, says new green thinktank
English councils to get guidance on designing safer streets for women and girls
Police to reassess Morgan McSweeney phone theft over address error
Starmer’s government increasing spending on foreign trips, figures show