The International Energy Agency (IEA), the developed nation body founded in the 1970s to deal with oil crises precisely like the one we’re now facing, has announced something extraordinary.
Its members, which is to say most of the world’s rich nations, will release an unprecedented amount of oil from their national stockpiles into the global market in the coming weeks.
This emergency stockpile release is more than double the last record, a whopping 400 million barrels of oil, to come from the stockpiles of its members around the world. Yet here’s the striking thing: far from falling, oil prices barely budged. After the announcement, Brent crude was still around 25% higher than before the attacks in the Gulf began.
Image: Tankers sit in Muscat, Oman, as Iran vowed to shut the Strait of Hormuz. Pic: Reuters
All of which raises the question: why? The short answer is that even after this new infusion of oil, the world is likely to remain short of oil. The long answer comes back to the fundamental nature of the oil market.
The best way to think of the oil market is as an enormous set of pipes through which crude oil and its products are constantly flowing. What matters, far more than how much oil there is in the ground, either in the form of reservoirs or stockpiles, is something more simple: how much oil is pumped through the global system every day.
And in recent years, the amount pumped through the system each day has worked out at about 100 million barrels of oil. Now, these numbers go up and down as the seasons turn and perhaps, in the coming years, might go down as people adopt electric cars and find alternatives to fossil fuels. But the key thing to keep in the back of your mind is that for the time being, much of the world’s living standards – our access to transportation, to power, to consumer goods, pharmaceuticals and the rest – depends on that 100 million barrels of oil pumped through the world’s pipes.
All of which brings us back to the Persian Gulf, which is responsible for about 30% of the world’s oil, of which around 15 million barrels pass through the Strait of Hormuz each day. The heart of the energy shock the world is getting its head round comes back to the fact that it is running short of 15 million barrels of oil a day. In other words, it’s all about that gap – between the oil we need to keep the world functioning and the oil we actually have.
Just not enough supply
That brings us back to the IEA’s emergency release. While the overall number is certainly high, what matters even more is a number the organisation didn’t release on Tuesday: how much of that oil it expects to come out each day. In other words, how much of the 15 million barrel gap will those emergency supplies fill?
The expectation among analysts is that the number will be 4-5 million barrels, which is not nothing but, as you’ll know if you have elementary mathematics, still leaves the world at least 10 million barrels short of oil each day.
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There are other sources of oil. For one thing, Saudi Arabia, and to a lesser extent the United Arab Emirates, could pump more oil through their pipelines to ports that are not inside the Gulf (in other words, meaning tankers do not need to brave the straits). That might, optimistically, mean another 5.7 million barrels of oil.
On top of this, there are a handful of ships still passing through Hormuz. An educated guess suggests this might bring in another half a million or maybe, at the outside, a million barrels.
Tot it all up, though, taking the very best case scenario, and you’re still talking about a shortfall of 4 million barrels of oil for the global economy. This is far less scary than the 15 million shortfall we started off with, but it is nonetheless not enough to satisfy global oil consumption.
Why prices are still high
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Which is at least part of the explanation for why oil prices are still so high and why, all around the world, countries are feeling the impacts. We tend to focus, here in Europe, on the stuff we are beginning to see – on higher petrol prices and the implications for bills. But it’s fanning out elsewhere too, especially in Asia. Indian oil refineries are shutting down; provinces are rationing liquefied petroleum gas (LPG) supplies for local households. Workers in Thailand and Vietnam are being urged to work from home to safeguard petrol supplies.
And the longer this goes on, the more of these impacts we will see. The world is facing an energy gap; it’s not clear how it bridges it.
According to Kidney Care UK and the National Pharmacy Association (NPA), diabetics or people with high blood pressure should be particularly careful, due to a risk of kidney disease.
Non-steroidal anti-inflammatory drugs (NSAIDs) such as ibuprofen, naproxen and diclofenac can increase blood pressure and damage blood vessels inside the kidneys.
Olivier Picard, chair of the NPA, said: “Medicines have the power to harm as well as to heal.
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“Although NSAIDs, such as ibuprofen, are effective and safe medicines, patients should be aware of their impact – particularly if a patient is at increased risk of developing kidney disease – and consider alternative medication where appropriate.
No I will never shut up about the fact that you’re supposed to ingest a source of Vitamin C whenever you take an NSAID like ibuprofen, aspirin, or naproxen, and if you don’t do that, you increase your risk of heart disease
“If a patient has concerns about their usage of NSAIDs, they should speak to their pharmacist who can advise them.
“Pharmacists are experts in medicines and are best placed to offer advice to people who may be concerned about any potential long-term effect of some medicines and can help patients effectively manage pain.”
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About 7.2 million people in the UK are living with some form of chronic kidney disease, which usually has no symptoms in the early stages.
Kidney Care UK also estimates that about one million people are undiagnosed.
Those at an increased risk of developing the condition include: diabetics; people with high blood pressure; people with a family history of kidney disease; and those from black and south Asian communities.
Fiona Loud, policy director at Kidney Care UK, said: “Kidney disease can happen to anyone at any time, and can have a devastating impact on your life, relationships, finances as well as your physical and mental health.”
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Of the 294,999 people who completed the charity’s kidney health checker between October 2024 and March 2026, almost a quarter (24%) said they regularly used over-the-counter medication for pain relief.
Ms Loud added: “You can lose up to 90% of your kidney function without realising, so it’s important to be aware of the signs to look out for, to know if you might be at increased risk, and what to do if you are concerned.
“It only takes a few minutes to complete our online kidney health checker to see if you might be at increased risk.
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“If you have any concerns, you can raise these with your GP or have a chat with your local pharmacist.”
It’s generally safe for most adults to take paracetamol and ibuprofen together.
Because they work in different ways and are processed by different parts of the body, they don’t interact directly, which means combining them can provide stronger or longer-lasting pain relief than using them individually.
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Mixing paracetamol and ibuprofen can be helpful when a headache, toothache, muscle ache, period pain or fever isn’t fully controlled by one medication alone.
A 45-year-old man has been charged with murder and possession of an offensive weapon with intent as mourners prepare to gather to celebrate Ellie Flanagan’s life
01:03, 12 Mar 2026Updated 01:03, 12 Mar 2026
A man has been charged with the murder of a 23-year-old in Co Fermanagh.
Ellie Flanagan was found dead at an address in the Corban Avenue area of Enniskillen on Saturday evening, March 7.
PSNI have charged a 45-year-old man with murder and possession of an offensive weapon with intent.
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Ellie’s body was found by officers who were carrying out enquiries relating to a crash which took place on the Carn Road near Tempo at around 9.15pm on Saturday.
It has been previously reported that the man is understood to be known to her. The force were granted an additional 24 hours to question the man on March 10.
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The funeral of Ellie is to be held on Friday, March 13 with the family requesting mourners wear bright colours in her memory.
The 23-year-old is described in the funeral notice as the ‘beloved daughter of Karen. Cherished Granddaughter of Attracta and Roger (Da). Special Grandniece of Marian Haggins and Joe Clarke. Loving niece of Kevin (Martina), Jenny (Owen) and Paddy (Melissa), and adored cousin of Niamh, Aodhan, Shay, Pauric, Sarah, Aoife, James, Conan and Callum.
It added: “Ellie is deeply regretted and will be sadly missed by her heartbroken family, extended family circle, friends and neighbours.”
Detective Chief Inspector Gary Robinson said: “Our thoughts are firmly with Ellie’s family and loved ones at this very distressing time.
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“I would reiterate our appeal to anyone who may have information that could assist us, to contact police on 101, quoting reference number 1564 07/03/26. Any detail, no matter how small, could prove crucial to our investigation.“The local community will continue to see a police presence in the Corban Avenue area over the coming days, as our investigation develops.”
He is due to appear before Strabane Magistrates’ Court on Thursday 12th March via video link.
“But I do think the idea of a basic level of charter – I don’t know, there might be an example out there – but an overall charter that has a time length like this, I think there should be a standard provision that just goes forever, basically, until Parliament, or whatever the mechanism is, decides through recent debate – actively, actively, not passively – to say, okay, we don’t want the BBC anymore.”
National Insurance credits can have a direct impact on how much state pension you can get
People not claiming the National Insurance credits they are entitled to may end up with lower state pension payments as a result. Despite popular belief, these credits are not exclusively given to people on certain benefits.
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National Insurance credits can plug holes in your National Insurance record, which is used to calculate how much state pension your are entitled to. These credits are usually provided to people on certain benefits like Carer’s Allowance and Child Benefit to stop people from losing out on state pension entitlement due to caring for loved ones.
However, there are four circumstances where people do not need to be receiving any benefits in order to get National Insurance credits. However, some will not be provided automatically and people will need to claim their entitlement or risk missing out.
Training courses
People who are over the age of 18 and have been sent on a Government-approved training course by Jobcentre Plus should automatically get Class 1 National Insurance credits. However, this is only provided if the course lasts no longer than one year.
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If you are over 18 and on a Government-approved training course that does not last more than one year but you were not sent by the Jobcentre, you may still be eligible for credits but you will need to apply. To do this, you will need to write to HMRC explaining when the credits are for and why you are eligible.
People who are not self-employed and have been called for jury service may be able to get National Insurance credits to cover the time they have attended court. You will need to write to HMRC to apply for these Class 1 credits.
Partners of people in armed forces
You need to be married to, or a civil partner of, a member of the armed forces and went with your partner on an overseas posting in order to potentially claim National Insurance credits.
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If you left for the posting after April 6, 2010 and are returning to the UK you can apply for Class 1 credits. If you were on an overseas posting after 6 April 1975, reached state pension age on or after 6 April 2016, and are not getting Class 1 credits then you can apply for Class 3 credits instead.
Wrongly imprisoned
If your conviction was quashed by the Court of Appeal, or the Court of Criminal Appeal in Scotland, you can apply for Class 1 credits. You’ll need to write to HMRC, include your National Insurance number and explain why you are eligible. Details on how and where to apply for these credits can be found on the Gov.uk website.
Class 1 National Insurance credits count towards other benefits like Jobseeker’s Allowance and your state pension. Class 3 National Insurance credits only count towards your state pension entitlement.
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You can check your National Insurance record and state pension forecast online to see if there are any gaps that you could top up with credits and to check that any credits you have applied for are put in correctly.
Cops locked down the road and urged drivers to avoid the area. Footage from the scene shows a lorry in flames, with thick plumes of black smoke billowing overhead, reports Edinburgh Live.
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It is unclear if anyone was injured as a result of the incident.
Bystander, Mark Innes, said: “It carried forward with the momentum, driving along the motorway and it probably almost instantly burst into flames.
“It was terrifying. It was honestly like something out of a film. It’s good that everyone is okay.
“I got my van into a safe position, and by that point that was a few bystanders and other drivers helping. By the time I ran over the driver was out, he was obviously very shaken and panicked.
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“The lorry was exploding. There were tyres blowing thirty feet into the air and crashing down, going into the nearby bushes and setting them on fire.”
Police Scotland said: “The A1 is closed northbound between the Thistly Cross roundabout and the Haddington turn off following a two-vehicle crash reported to police around 3.50pm on Wednesday, 11 March. Road users are advised to avoid the area.”
Traffic Scotland posted to X at the time: “NEW 4.05pm. A1, Haddington.
“The A1 is CLOSED northbound at Haddington to a road traffic incident. Please use alternative routes and expect delays.”
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A van has been driven into a barricade near the White House, officials have said.
The driver has been arrested in Washington DC and no injuries have been reported, a police spokesman said.
Officers were called at about 6.37am local time “to the vicinity of the White House… after a van drove through the barricade at Connecticut Avenue and H Street, Northwest”, he added.
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The Secret Service said the man crashed into the temporary security barrier just before 6.30am (10.30am in the UK).
He was immediately arrested by officers from the Secret Service’s uniformed division, the agency said, adding that he was being interviewed and that criminal charges were pending.
A police bomb squad was called to the scene, checked the vehicle and determined it to be safe.
The Cork-born actor fronted the award-winning series, which filmed key scenes in Bolton, for almost a decade as ruthless gangster Tommy Shelby, the leader of violent crime gang the Peaky Blinders.
The series ended in 2022 but will return later this year with its spin-off film The Immortal Man, which will see Shelby driven back from his self-imposed exile amid the chaos of the Second World War.
Speaking during a press conference, the 49-year-old actor said: “I feel really, really proud of the work. It’s nuts that it’s been so long. The end of 2012 is when we shot the original series.
“So many people have watched it, and it’s become so beloved, so I just feel immensely proud of it.”
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Murphy added: “I think the luxury of having played (Tommy Shelby) for so long is that all the research is kind of done, you know?
“You’ve got like 13 years there. You’ve lived it alongside him, and also you’ve kind of aged alongside him. It’s kind of unique.
“I’ll never experience that again, and it’s really unusual and gratifying to have that opportunity to play a character like that.”
The upcoming film will also explore the relationship between Tommy Shelby and the illegitimate son he abandoned, Erasmus “Duke” Shelby, played by Irish actor Barry Keoghan.
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Murphy said: “In order for us to conclude (the series) with a film, it needed to justify itself.
“Ultimately, that comes down to the script.
“The main sort of thematic drive of the show has always been family, if we continued with that and made it a father and son story and introduced Duke in that manner then we knew we were on the right track – and off we went.”
Speaking about his character in the upcoming film, Murphy said: “When we meet him, (he) is kind of withdrawn from the world, and he’s dealing with his own personal stuff.
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“But I think what setting the film against the backdrop of the war means that his values are being tested all the time.
Peaky Blinders filming in Bolton March 2021. Picture Danny Crompton (Image: Danny Crompton)
“What do you actually believe in? What do you actually stand for, aside from illegal bookmaking and racketeering and making money and buying houses and abandoning children and abandoning wives, what do you actually stand for? And then he figures it out.
Scenes from the BBC series, which ran for six series from 2013 to 2022 were shot in the town, most notably the Le Mans Crescent arches.
Fans from across the country – along with the media – descended on Bolton to watch the filming taking place.
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“And I think he begins – towards the end of the film – to really realise what he actually stands for.”
Cillian Murphy attending the 79th British Academy Film Awards, at the Royal Festival Hall, Southbank Centre, London. The Irish actor has said his role in Peaky Blinders is one he will “never experience again”, as he reflected on 13 years as the face of the popular crime drama. Issue date: Thursday March 12, 2026. PA Photo. Photo credit should read: James Manning/PA Wire (Image: James Manning/PA Wire)
The TV drama following Birmingham-based crime family the Shelbys was first launched on the BBC in 2013.
Peaky Blinders: The Immortal Man will be available on Netflix from March 20.
Scenes from the BBC series, which ran for six series from 2013 to 2022 were shot in the town, most notably the Le Mans Crescent arches.
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Fans from across the country – along with the media – descended on Bolton to watch the filming taking place.
There are performances that are destined for a special place even in a history as rich as Real Madrid’s. Fede Valverde has achieved much in his time at the Bernabeu and may yet end this season lifting the Champions League trophy but this was his night, a seminal, spectacular performance.
Often Real’s deluxe odd-job man, Valverde took on the role of the superstar, glittering on a terrible night for Pep Guardiola.
No Kylian Mbappe, no Jude Bellingham, no Rodrygo? No problem. Valverde more than compensated for the absence of Real’s injured attackers. He took on the mantle of the sidelined Rodrygo, often the tormentor of Manchester City.
He had three goals all season. Indeed, he had three in 75 Champions League appearances. Then came three before half-time.
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Stand-in skipper, stand-in scorer, he was outstanding. The first hat-trick of his career was completed with the best of a terrific trio and came in a virtuoso display. “He represents Real Madrid perfectly and will be a leader for a very long time,” said his manager, Alvaro Arbeloa.
An unhappy, and emergency, right-back earlier in the season, Valverde showed the merits of unleashing him in the final third. “He can play well in every single place,” said Arbeloa. Valverde is one of the great footballing all-rounders of his generation. Here he was, a roving right winger, materialising in the middle, timing his runs superbly, forever the elusive man on the move.
Haaland was totally anonymous, with only one touch in the opposition box (Getty Images)
He left City dumbstruck. “It feels really bad. Now it feels really dark,” said the captain Bernardo Silva. Guardiola added: “A bad result; we cannot deny it.”
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There is still a second leg at the Etihad to come but City were eviscerated, and may have been eliminated, by a team featuring plenty of understudies. They had conceded a hat-trick at the Bernabeu last year. But that was to Mbappe, to the man who may be destined for the World Cup scoring records. Not to Valverde. Yet his blend of dynamism and opportunism was stunning.
Donnarumma made an error for the first goal (Action Images/Reuters)
Guardiola is aware of the regal power of Real Madrid but he can also testify to their resourcefulness. They usually find a way in this competition, often at his expense. They did so this time with a weakened team.
Perhaps that lured Guardiola into a false sense of security. His own selection looked overly bold, with three wingers behind Erling Haaland. Real had no real striker, Valverde operating further forward than usual. That proved a devastating formula.
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City were cut open too easily. Real sat off them, then counterattacked superbly. For the opener, Nico O’Reilly, a scorer in City’s December win at the Bernabeu, misjudged the flight of Thibaut Courtois’s long ball, allowing Valverde to dart in behind him, slip the ball past a sliding Gianluigi Donnarumma and angle a shot into the empty net. Guardiola used to have the goalkeeper who got the assists, in Ederson, but Courtois gave him a taste of his medicine.
Courtois was barely troubled all night bar an excellent reflex save from O’Reilly (Getty)
Then Valverde went through his repertoire. His second came courtesy of a surge through the inside-left channel to meet Vinicius Junior’s pass, followed a fine finish with his left foot. The third was the best of the lot, Arda Guler chipping the ball into the box, Valverde volleying it past Marc Guehi with his first touch and beating Donnarumma with his second.
Such solace as City could take came courtesy of their goalkeeper. “Three-nil is better than four-nil,” said Guardiola.
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It should have been four. Released by Trent Alexander-Arnold, Vinicius escaped behind City’s defence and was felled by Donnarumma. Yet his spot kick was tame and parried by the Italian. Real may have wished the irresistible Valverde took it instead.
Valverde starred with a first career hat-trick (PA)
Donnarumma also saved from Arda Guler in the second half while Vinicius curled a shot wide. City, in a bind between needing a goal and needing not to concede another, occasionally threatened to reduce the deficit.
Antonio Rudiger celebrated a goal-saving interception to stop Erling Haaland tapping in Antoine Semenyo’s cross. Courtois made a magnificent save from an O’Reilly shot that was in part a tackle on Thiago Pitarch, the teenager otherwise excelling in the biggest game of his life.
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Yet the fact that the 18-year-old was starting showed how Real’s resources were stretched. For once, they may have been underdogs. “People expected us to get battered tonight,” said Alexander-Arnold.
Valverde saved his best for last with a sublime 22-minute hat-trick (Getty)
And if that was an exaggeration, the rookie of a manager, in Alvaro Arbeloa, was scarcely expected to outmanoeuvre Guardiola. He did, aided by some of the supposedly lesser lights. “I think we have been a team in capital letters,” said Arbeloa.
Guardiola, whose starting 11 looked too attacking, sounded defensive. “Our game was not as bad as the result,” he said. “My feeling about ourselves is we’ve done quite a good job but because the score is 3-0 that is a little bit useless.”
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His side have beaten Real 4-0 before in a second leg, but not when they needed to. Now that is the requirement. “We’ll try,” pledged Guardiola.
“We will suffer a lot in Manchester,” said Arbeloa. But probably not as much as Valverde made City suffer in Madrid.
David McDonald has been missing since Wednesday afternoon and water searches are underway.
22:32, 11 Mar 2026Updated 22:34, 11 Mar 2026
Water searches have been launched and are underway to find a missing Scots man. David McDonald disappeared earlier this afternoon.
The 51-year-old was last seen around 2.30pm on Wednesday, March 11 in Cardross. He has been described as 5ft 10″ tall, bald with facial hair.
Police Scotland has urged worried members of the public not to take part in search parties looking for David. HM Coastguard are carrying out searches for him at this time.
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Cardross, where David was last spotted, is near Loch Lomond and on the Firth of Clyde. It is not known which body of water HM Coastguard are searching for David in at this time.
Inspector Ross Mooney has made a public appeal for information. He said: “Along with his family and friends, we are growing increasingly concerned for the welfare of David.
“We would kindly ask members of the public not to take part in search activities for David at this time. Coordinated searches are being carried out with our partners at HM Coastguard.
“Anyone who knows where David is, should contact Police Scotland on 101 quoting incident number 2021 of 11 March, 2026.”
A spokesperson for the force added: “Officers in Argyll and Bute are appealing for information to help trace 51-year-old David McDonald. David was last seen around 2.30pm on Wednesday, 11 March, 2026 in Cardross. He is five foot ten inches tall, bald, with facial hair.”
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