NEW YORK — Global oil prices climbed sharply on Monday, with Brent crude rising above $110 per barrel as escalating tensions in the Strait of Hormuz and uncertainty over Iranian supply continued to unsettle energy markets, pushing traders to price in potential disruptions to one of the world’s most critical shipping lanes.

Brent crude, the international benchmark, settled at $110.54 per barrel, up 1.18 percent on the day, while West Texas Intermediate (WTI) crude rose to $101.02 per barrel. The gains extended a multi-week rally fueled by geopolitical risks, with prices now up more than 68 percent compared to the same time last year.

The latest surge comes as Iran has threatened to impose tolls on vessels passing through the Strait of Hormuz, a narrow chokepoint that carries roughly 20 percent of the world’s traded oil. Any significant disruption there could send prices even higher, analysts warn, potentially pushing Brent toward $120 or more in a worst-case scenario.

“Geopolitical risk is firmly back in the driver’s seat,” said Helima Croft, head of global commodity strategy at RBC Capital Markets. “The combination of restricted flows through Hormuz, falling inventories and heightened U.S.-Iran tensions is creating a classic supply shock environment.”

Drivers Behind the Price Spike

Several factors are converging to support higher oil prices. The fragile ceasefire in the region has shown signs of strain, with indirect talks hosted by Pakistan stalling. Former President Donald Trump, a major influence in U.S. politics, has issued stern warnings to Iran, telling Tehran it would face a “very bad time” if it disrupts the strait.

Energy markets are also reacting to tightening physical supplies. The International Energy Agency (IEA) reported one of the fastest inventory drawdowns on record outside of pandemic conditions, with global stocks falling by an estimated 246 million barrels across March and April. Saudi Arabia has also cut output to its lowest level since 1990, further tightening the market.

OPEC+ production discipline, combined with strong demand from Asia and recovering economic activity in major consuming nations, has left the market with little spare capacity. This structural tightness means even modest supply disruptions can cause outsized price reactions.

U.S. gasoline prices have also climbed, approaching $4.55 per gallon in some regions, adding to consumer concerns about inflation and household budgets heading into the summer driving season.

Impact on Global Economy

Higher oil prices are rippling through the global economy. Emerging markets heavily dependent on imported energy are feeling the pinch, with some countries facing higher import bills and currency pressures. In developed economies, rising fuel costs are contributing to sticky inflation readings that are complicating central bank decisions on interest rates.

Airlines, shipping companies and manufacturers are all seeing increased input costs. Some businesses have begun passing on higher energy expenses to consumers, while others are absorbing the costs in hopes of a price reversal.

However, not all effects are negative. Oil-producing nations, particularly in the Gulf, are benefiting from higher revenues that could support fiscal spending and economic diversification efforts. U.S. shale producers are also seeing improved profitability, though many remain cautious about rapidly increasing output given volatility in prices.

Geopolitical Flashpoint

The Strait of Hormuz remains the central focus of market anxiety. Iran has long threatened to disrupt shipping through the strait in response to perceived provocations. While an outright closure is considered unlikely due to the catastrophic consequences for Iran itself, even the threat of tolls or selective interference is enough to keep risk premiums elevated.

U.S. naval forces in the region have increased patrols, and diplomatic efforts continue behind the scenes. Any escalation involving direct confrontation could push prices significantly higher, with some analysts warning of a potential spike toward $150–$200 per barrel in extreme scenarios.

Market Technicals and Outlook

From a technical perspective, Brent crude has broken above key resistance levels and is now trading in a strong uptrend. Momentum indicators suggest the rally could continue if geopolitical risks remain elevated. However, some analysts warn of potential profit-taking if tensions ease or if OPEC+ signals increased production.

Looking further ahead, the IEA and OPEC both forecast robust oil demand growth through the rest of the decade, driven by Asia’s economic expansion and the slow pace of the energy transition in certain sectors. This long-term demand outlook supports a generally bullish view among many commodity strategists.

For consumers and businesses, the advice remains caution. Hedging strategies, fuel efficiency measures and diversified energy sources can help mitigate the impact of volatile prices. Governments may also consider strategic reserve releases or targeted subsidies if prices continue climbing.

Investment Implications

For investors, the current oil price environment creates both opportunities and risks. Energy sector stocks have performed well amid the rally, but they remain sensitive to geopolitical headlines. Diversified exposure through ETFs or broader commodity funds may offer a more balanced approach for those seeking inflation protection without excessive volatility.

Longer-term, the transition toward renewable energy and electric vehicles continues, though oil is expected to remain a critical part of the global energy mix for decades. Companies with strong balance sheets, low production costs and exposure to both conventional and emerging energy technologies are best positioned to navigate the evolving landscape.

As markets digest the latest price movements, attention turns to upcoming economic data from China and the United States, as well as any new developments in the Middle East. For now, oil remains firmly in a geopolitically driven bull market, with traders bracing for continued volatility in the weeks ahead.

The world oil price today reflects the fragile balance between supply security and geopolitical risk. As long as tensions persist around the Strait of Hormuz and global inventories remain tight, prices are likely to stay elevated — a situation that carries significant implications for economies, consumers and investors worldwide.

In today’s travel landscape, confidence matters just as much as price. Travellers want affordable flight options, flexible booking, andreassurance that if something is canceled, their money and plans are protected.

That’s where Kiwi.com is reshaping expectations, combining smart search technology with improved refund processes and flexible support.

Booking flights with confidence

Modern travellers no longer focus only on cost. They want a reliable booking experience with clear options if a flight is canceled orchanged. Kiwi.com brings this together by acting as a platform that connects multiple airlines into one seamless itinerary.

With the right tools, you can:

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This helps ensure your trip stays on track from departure to arrival.

Finding cheap flights across airlines

Kiwi.com specialises in combining routes from different airlines (including budget airlines) to uncover cheaper options. This oftencreates unique itinerary combinations that traditional platforms miss.

Benefits include:

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This approach gives travellers more choice, especially when planning complex travel routes.

Disruption Protection and the Kiwi.com Guarantee

One of the biggest advantages is Disruption Protection, part of the Kiwi.com Guarantee. This ensures support when unexpected changes happen.

Disruption Protection is included with the Kiwi.com Guarantee or can be added after you book. No matter how it’s applied, if any partof your itinerary is canceled or significantly delayed, Kiwi.com will provide Kiwi.com Credit for a comparable alternative flight. Ifthe alternative flight costs more, Kiwi.com may refund your original booking instead. If the alternative is cheaper, you’ll receiveKiwi.com Credit for that amount. When your original departure is less than five hours away, Kiwi.com may issue Credit matching theprice of a replacement flight with an arrival time closest to your original schedule.

This is especially useful for self-transfer routes, where airlines are not normally obligated to help.

Kiwi.com refunds and how the process works

Understanding Kiwi.com refunds is key to booking with confidence. When a flight is canceled, the refund process dependson several factors, including the airline, ticket conditions, and whether Disruption Protection applies.

What happens when your flight is canceled?

If a canceled flight affects your trip, you may be eligible for Kiwi.com Credit

In many cases, the company works with the airline carrier to process a refund request. If the airline issues the refund, Kiwi.com passesit on according to your original booking terms.

Managing your booking and refund requests

The platform makes it easy to manage your booking and submit a refund request. You can:

• Contact support through the website or app
• Submit and track a request
• Monitor the process from start to complete

Clear communication helps ensure the company can respond quickly and keep you informed.

Payments, banks, and getting your money back

Refund timelines depend on the airline applicable law, payment method, and bank processing times.

Important points:

• Refunds may take several hours to several weeks
• Your bank may add additional processing time

If delays occur, it’s important to stay in contact and follow the process carefully.

Rebooking and future travel flexibility

If your plans change

, Kiwi.com supports rebooking and flexible travel options.

Travellers can use Kiwi.com Credit toward a future trip. This flexibility makes it easier to adapt when travel plans evolve.

When disputes happen

In rare cases, a refund may be delayed or refused. If this happens, travellers can:

• Review the contract terms of their booking
• Continue communication with the company and airline Understanding your rights helps ensure a fair outcome.

A better way to travel

Kiwi.com is helping redefine how travellers approach booking, refunds, and flexibility. By combining innovative search toolswith strong support systems, the platform offers:

• More control over your trip
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For travellers planning their next journey (whether a domestic flight or international adventure) the goal is simple: book smarter, travelconfidently, and know your refund options are clear if plans change.

CANNES, France — A decade after “The Wailing” cemented his status as one of cinema’s most unpredictable genre alchemists, South Korean director Na Hong-jin has returned with “Hope,” a blood-soaked, guns-blazing sci-fi creature feature that crashed the 2026 Cannes Film Festival like an alien invasion through a quiet coastal village.

World-premiering in competition on May 17 to a reported seven-minute standing ovation mixed with audible bewilderment, the 160-minute epic marks the first South Korean entry in the main slate since Park Chan-wook’s “Decision to Leave” in 2022. It’s already polarizing audiences and critics, hailed by some as a delirious action masterpiece and dismissed by others as an overlong mess undone by questionable visual effects.

Set in the fictional Hope Harbor, a ramshackle South Korean hamlet perilously close to the Demilitarized Zone, the story opens with a grisly cow carcass and rumors of a man-eating tiger slipping south from the North. Local police chief Bum-seok, played with hangdog charisma and perfect comic timing by Hwang Jung-min, investigates alongside hot-headed hunter Sung-ki (Zo In-sung) and rookie officer Sung-ae (Jung Ho-yeon of “Squid Game” fame, delivering a breakout performance full of fire and frustration).

What starts as a rural procedural quickly explodes into all-out chaos when wildfires cut off communications and reinforcements, leaving the town’s elderly residents — and the handful of cops and civilians still standing — to face something far more terrifying than a big cat. Na, who also wrote the screenplay, keeps the first hour hurtling forward in one sustained, exhilarating set piece after another: cars flipping, walls crumbling, shotguns blazing through doors with darkly comic consequences.

Cinematographer Hong Kyung-pyo, reuniting with Na after “The Wailing,” captures the mayhem with gliding, insolent grace. Long tracking shots weave through narrow alleys and sunlit forests, turning the destruction into a balletic frenzy. Michael Abels’ throbbing score amplifies the panic, blending orchestral swells with guttural pulses that make daylight chases feel nightmarishly vivid.

The human stakes land thanks to a colorful ensemble of Korean actors who ground the escalating absurdity in recognizable small-town dynamics — bickering relatives, grizzled elders with shotguns, and bureaucratic headaches even amid apocalypse. Bawdy humor punctuates the gore: one botched monster hunt ends with mistaken identity and a perforated butcher, leading to a grimly funny sequence of an old man struggling to carry the body.

Yet “Hope” shifts gears dramatically in its middle act, introducing extraterrestrial elements and a hunting party’s forest ordeal. Here the film’s ambitions stretch — and occasionally snap. International stars Michael Fassbender, Alicia Vikander and Taylor Russell appear heavily disguised under motion-capture and CGI as alien figures, their performances largely buried. Cameron Britton also contributes to the creature work. While the casting choice invites cheeky readings about Hollywood othering, the effects themselves draw the sharpest criticism.

Reviewers have described some creature designs and VFX sequences as weightless or unfinished, evoking outdated video-game aesthetics or early-2000s blockbusters. Na reportedly rushed post-production to meet the Cannes deadline, and it shows in certain wide shots where physics feel off and integration falters. These shortcomings blunt momentum during expository stretches that pile on thin mythology and subplots.

Still, the final hour regains ferocious energy with a jaw-dropping highway chase that throws everything — vehicles, debris, sheer kinetic audacity — at the screen. Action aficionados are already calling sequences here potential Oscar contenders for stunt design, comparing the visceral thrill to “Mad Max: Fury Road.” Na’s direction never loses its sweaty, chaotic exuberance, even when narrative logic strains.

At a reported record budget for a Korean feature, “Hope” represents a massive gamble for Plus M Entertainment and distributor Neon, which snapped up North American rights. Early buzz suggests franchise potential, with Na hinting at expanded universe possibilities. The film is slated for a summer 2026 South Korean release, positioning it as a domestic blockbuster contender while testing international appetite for ambitious, unapologetically genre-driven cinema from Asia.

Cannes audiences left the Palais in a mix of exhaustion, laughter and debate. Some praised its refusal to be “respectable,” celebrating raw entertainment value in a festival often favoring restraint. Others found the tonal whiplash and technical hiccups exhausting rather than exhilarating.

Na Hong-jin, now 51, has described the project’s origins in a single vivid image that haunted him years ago. Collaborations with Alfonso Cuarón were reportedly discussed early on, and the production spanned locations in South Korea and Romania’s Retezat Mountains for sweeping forest and mountain sequences. Principal photography wrapped in 2023, but extensive VFX and editing delayed the rollout.

Performances elevate the material throughout. Hwang Jung-min anchors the film with weary authority and slapstick physicality. Zo In-sung brings intensity to the hunter role, while Jung Ho-yeon injects youthful defiance that cuts through the carnage. The Korean-language dialogue crackles with regional flavor and profanity that heightens the grounded absurdity before the sci-fi escalates.

Thematically, “Hope” keeps things light. Allegories about DMZ tensions, isolation or humanity’s resilience flicker but never dominate. Na prioritizes spectacle and character beats over heavy subtext, a choice that feels refreshing — or shallow — depending on one’s expectations for festival fare. Bawdy scatological jokes and gallows humor further distance it from typical Palme d’Or contenders.

As awards buzz builds, “Hope” seems unlikely to claim the top prize but could generate conversation around genre boundaries at Cannes. Its commercial prospects look stronger: Neon’s track record with bold titles, combined with star power and viral action clips, positions it for strong summer box office in multiple territories.

Whether “Hope” ultimately lands as a cult classic or a noble misfire may depend on how audiences embrace its messiness. For now, it has accomplished something rare — waking up a sleepy festival with unhinged, blood-drenched energy. In an era of polished franchises, Na’s willingness to swing big, flaws and all, feels like a defiant roar.

Running at two hours and 40 minutes, the film tests patience during lulls but rewards with sequences of pure cinematic adrenaline. Early Rotten Tomatoes scores reflect the divide, with praise for ambition and action craftsmanship tempered by notes on pacing and effects.

As theaters prepare for wider release, “Hope” stands as a testament to bold filmmaking. It may not be perfect, but its wild heart beats loud enough to demand attention — and perhaps sequels. In Hope Harbor and beyond, the monster has arrived, and cinema feels a little more alive for it.

As President Donald Trump weighs a $14 billion arms sale to Taiwan, communication between Taipei and Washington remains ongoing, according to Alexander Yui, Taiwan’s Representative to the U.S.

“This is a constant thing,” Yui said. “It’s an ongoing dialogue. It’s not just if it doesn’t happen, it ends. It’s just a continuum of things.”

Taiwan is also increasing its own defense spending. Lawmakers recently approved a supplemental defense package worth roughly $25 billion, though Taiwanese President Lai Ching-te had pushed for closer to $40 billion.

TRUMP’S TAIWAN ‘NEGOTIATING CHIP’ REMARK SPARKS ALARM OVER HOW FAR HE’D SHIFT US-CHINA POLICY

House Speaker Mike Johnson, R-La., right, greets Alexander Yui, Taiwan’s representative to the U.S., before a meeting in the U.S. Capitol on Tuesday, Jan. 9, 2024. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

“My government is doing what it can,” Yui said. “But again, I want to stress the determination of the Taiwanese people to defend ourselves through our own means and help from any other ally is more than welcome.”

Yui argued semiconductor production is one of the clearest reasons the U.S. should continue supporting Taiwan militarily. Taiwan produces roughly 90% of the world’s advanced semiconductor chips, forming what he described as a deeply interconnected global supply chain.

The Taipei 101 building and other buildings are illuminated at dusk in Taipei, Taiwan. (I-Hwa Cheng/Bloomberg via Getty Images)

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“The United States is very good at designing the chips, and we’re very good at scaling and fabricating the chips using machines from the United States, from the Netherlands, from Japan,” Yui said. “This triangle of partnership works very well.”

TAIWAN RAMPS UP COAST GUARD AND MILITARY READINESS IN FACE OF BEIJING’S ‘GRAY ZONE’ WARFARE

Taiwan has also pledged to invest $250 billion in semiconductor and technology manufacturing in the U.S. as Trump pushes to expand domestic chip production.

“It’s not that easy. But we’re trying to bring manufacturing to the United States again, because it also suits our interest to expand our manufacturing,” said Yui.

Taiwan has also pledged to invest $250 billion in semiconductor and technology manufacturing in the U.S. (Lyu Bin/VCG via Getty Images)

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Yui also pushed back on any suggestion that Taiwan is moving toward independence, saying the island’s government is working on maintaining the status quo.

“There is no Taiwan independence movement in Taiwan because there is no need. We in Taiwan [are] called Republic of China, we’re already a sovereign, independent nation,” Yui said. “We’re just trying to preserve the status quo as it is.”