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US and Israeli attacks on Iran shake world markets

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US and Israeli attacks on Iran shake world markets

BANGKOK (AP) — The U.S. and Israeli attacks on Iran rattled world markets on Monday, with U.S. futures initially falling more than 1% and oil prices soaring, though both moderated as trading picked up.

The futures for the S&P 500 and Dow Jones Industrial Average were down about 0.8% by mid-morning in Bangkok.

Asian shares opened lower.

Japan’s Nikkei 225 index initially fell more than 2%, but by midday Tokyo time it was down 1.5% at 57,981.54.

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In Hong Kong, the Hang Seng lost 1.6% to 26,215.91, and the Shanghai Composite index was flat at 4,163.01.

Taiwan’s benchmark lost 0.6% and Singapore’s dropped 1.9%. In Bangkok, the SET fell 2.1%.

Australia’s S&P/ASX 200 shed 0.3% to 9,173.50.

Markets were closed in South Korea for a holiday.

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The price of gold, usually viewed as a safe haven for investment in times of uncertainty, rose 2.4% to about $5,371 per ounce.

Traders were betting the supply of oil from Iran and elsewhere in the Middle East would slow or grind to a halt. Attacks throughout the region, including on two vessels traveling through the Strait of Hormuz, the narrow mouth of the Persian Gulf, have restricted countries’ ability to export oil to the rest of the world.

“Roughly one-fifth of global oil and LNG (liquefied natural gas) flows squeeze through the Strait of Hormuz. This is not an obscure canal. It is the aorta of the global energy system,” Stephen Innes of SPI Asset Management said in a commentary.

The price of a barrel of U.S. benchmark crude oil initially surged about 8%. It later was trading 5.9% higher at $71.00 per barrel. Brent crude jumped 6.2% to $77.38 per barrel.

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A prolonged war would likely result in higher prices for other fuels and gasoline and could cascade throughout the global economy, adding to production costs overall.

Likewise, prolonged interruptions to oil flows through the Middle East would have “huge implications for oil and LNG and every market everywhere if it occurs. Energy is an input to ALL production,” RaboResearch Global Economics & Markets said in a report.

Iran exports roughly 1.6 million barrels of oil a day, mostly to China. It may need to look elsewhere for supply if Iran’s exports are disrupted, another factor that could increase energy prices.

But China has ample oil reserves of up to 1.5 billion barrels, and it can offset a decline in oil from Iran by increasing imports from Russia, said Michael Langham of Aberdeen Investments.

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The attacks were anticipated, with a massive buildup of U.S. forces in the Middle East, so traders had adjusted their positions to take that risk into account.

The conflict has shifted attention, for now, away from issues surrounding artificial intelligence that have dominated markets in recent months.

On Friday, the S&P 500 fell 0.4% to finish just its second losing month in the last 10. The Dow industrials dropped 1.1%, and the Nasdaq composite fell 0.9%.

Treasury yields fell in the bond market as investors sought safer places for their money.

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“When markets are fragile, they do not need a knockout blow. They just need another weight on the bar,” Innes said.

Also hurting the broad market was a report Friday showing that inflation at the U.S. wholesale level was at 2.9% last month, much higher than the 1.6% that economists expected.

That could pressure the Federal Reserve to hold off longer on its cuts to interest rates. Lower rates would give the economy and prices for investments a boost, but they risk worsening inflation at the same time.

In other dealings early Monday, the U.S. dollar rose to 156.34 Japanese yen from 156.27 late Friday. The euro slipped to $1.1789 from $1.1762.

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Who gets priority in a potential UK fuel rationing plan?

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Who gets priority in a potential UK fuel rationing plan?

Conflict in Iran and supply issues on the Strait of Hormuz have caused petrol and diesel prices to go up.

The International Energy Agency (IEA) has warned that the disruption is the largest in the history of the global oil market.

The RAC shares that unleaded petrol has gone up 14.4p since the start of the Iran conflict, while diesel has gone up by 28.8p.

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The government has stated that there is no shortage of fuel in the UK, with advice being to continue filling up as normal.

There are contingency plans in place under the Department for Energy Security and Net Zero (DESNZ) if fuel rationing were needed.

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In that scenario, some people might be curious to see what services would get priority.

What services would get priority in a UK fuel rationing plan?

The National Emergency Plan for Fuel was last updated by the DESNZ in April 2024.

Emergency and critical service vehicles would receive priority access to fuel in this scenario.

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Utilities such as gas and electricity suppliers and water companies would have the next priority, followed by public transport vehicles.

Commercial vehicles would be up next, specifically ones fulfilling duties such as delivering food to supermarkets and making health-related deliveries.

Meanwhile, private drivers would face restrictions on how much fuel they could buy per filling station visit, and pumps could be closed overnight.

In an extreme scenario, the Government has the power to allocate how crude oil and other imported oil products are distributed across the UK entirely.

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These measures would only be activated in a severe national shortage.

The Guardian shares that further elements of contingency plans could see speed limits cut by up to 10mph on some roads to lower fuel consumption.

This could be implemented on some motorways, where signage is also adjusted electronically on major routes.

However, the DESNZ is understood to be confident that the UK has a diverse and resilient fuel supply.

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Jack Cousens, the head of roads policy at the AA, said: “Drivers should be assured that there are good fuel supplies and people should not change their fuelling habits.

“Nevertheless, advice to drive as efficiently as possible is something that drivers could adopt at all times to save both fuel and money.

“Reducing speed and braking less harshly are beneficial.

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“Similarly, linking journeys together contributes to saving fuel.”

How much have fuel prices gone up in your area? Let us know in the comments.

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LaGuardia Airport live updates: Video shows horrifying moment of deadly crash

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LaGuardia Airport live updates: Video shows horrifying moment of deadly crash
Horror moment plane hits fire truck at LaGuardia airport killing both pilots

Horrifying new video captures the moment an Air Canada plane collided on the runway with a fire truck at New York City’s LaGuardia Airport, killing two pilots, injuring dozens of passengers and causing travel chaos.

Footage shows the Air Canada Express plane slamming into a Port Authority fire truck on the runway, where the emergency vehicle was responding to an issue on another plane late Sunday night.

The pilot and copilot were killed after landing in New York from Montreal with 72 passengers and four crew onboard. The crash destroyed much of the front cockpit area of the plane, which was operated by Jazz Aviation.

An audio recording revealed air traffic controllers were in a panic moments before the deadly collision. “Stop, stop, stop!” an air traffic control dispatcher is heard saying. A voice later adds: “I messed up.”

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About 40 passengers and crew members were taken to nearby hospitals, some with serious injuries. Most had been released Monday morning, authorities said.

Transportation Secretary Sean Duffy said Monday that the deadly collision served as a reminder to “wear your seatbelts.”

LaGuardia reopened one runway at 2 p.m. Eastern Monday, though officials warned of continued delays and cancellations as a result of the crash.

The delays exacerbate ongoing extended wait times at U.S. airports, which have resulted from the partial government shutdown and a shortage of TSA agents.

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Recap: Air Canada passenger plane in deadly collision with fire struck at LaGuardia Airport

If you’re just joining us, here’s everything you need to know:

  • An Air Canada passenger plane from Montreal with 76 people on board collided with a fire truck on the runway at LaGuardia Airport, New York, Sunday night
  • The pilot and co-pilot of the plane, arriving from Montreal, were killed
  • 41 passengers were taken to hospital. Most had been released by Monday morning, authorities said
  • LaGuardia remained closed until 2 p.m. ET Monday as more than 500 flights were cancelled

Joe Sommerlad23 March 2026 10:48

LaGuardia crash comes at sensitive time for U.S. air travel

Sunday’s late-night crash at LaGuardia comes at a time of considerable strain on the U.S. air travel system.

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The Department of Homeland Security, which oversees the airport-focused Transportation Security Administration, has gone without funding for weeks amid an ongoing partial government shutdown.

Josh Marcus23 March 2026 21:55

Port Authority IDs individuals in truck that collided with plane

Two people who were in a fire truck that collided with an incoming Air Canada jet at LaGuardia on Sunday have been identified.

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The Port Authority of New York and New Jersey, which oversees New York City-area airports, named the individuals as Sgt. Michael Orsillo and Officer Adrian Baez.

“Both were taken to New York Presbyterian Hospital,” Port Authority Executive Director Kathryn Garcia said during a press conference on Monday. “We expect one to be released later this afternoon, and the other to be kept overnight for observation.”

Josh Marcus23 March 2026 21:35

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‘Hero’ pilots died saving passengers, survivor of LaGuardia crash says

“I wish I could tell their families how thankful I am. They are heroes.”

That’s how one survivor of last night’s runway crash at LaGuardia is processing the collision, which killed both pilots and injured scores of passengers.

Shweta Sharma, Paul Farrell, and Jasmine Fernández have the latest details on the incident.

Josh Marcus23 March 2026 21:19

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Josh Marcus23 March 2026 21:05

Transportation Secretary says he has asked Congress for more money for air traffic control

Much-needed modernizations for air traffic control systems can’t happen without more money from Congress, Transportation Secretary Sean Duffy said during a Monday news briefing.

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“We’ve been modernizing our system, but we can’t fully modernize it until Congress gives us the additional money,” he said.

“It’s not a partisan issue, both Democrats and Republicans agree, but they have to have the will to finish the funding,” he continued.

Duffy added: “I’m not saying the crash would have been prevented if we had all the equipment deployed, but it’s important if we care about air travel safety, we care about having a brand new air traffic control system, the best in the world, with the best equipment virtually all of it developed here in America.”

Isabel Keane23 March 2026 20:45

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LaGuardia Airport runway 4 will be closed until Friday morning

Runway 4 at LaGuardia Airport will be closed until 7 a.m. Friday, following the deadly collision between an Air Canada plane and a fire truck, the FAA said.

LaGuardia was closed through much of Monday, but reopened a single runway around 2 p.m.

Isabel Keane23 March 2026 20:19

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One of the pilots killed identified by family

One of the two pilots killed in the crash at LaGuardia Airport has been identified as Antoine Forest.

Forest’s family confirmed his death to the Toronto Star on Monday.

The pilot was originally from Coteau-du-Lac, a small city in southwestern Quebec, Canada. He first started flying planes when he was just 16, his great aunt, Jeannette Gagnier, told the Star.

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Forest, a first officer at Air Canada Express, had been co-piloting the plane that crashed on Sunday. He and his co-pilot, who has not been publicly identified, were declared dead while several passengers were injured.

“It’s a very bad day for me,” Gagnier, who acted as a grandmother to Forest, told the newspaper.

Forest’s LinkedIn page lists him as a first officer for Jazz Aviation since December 2022.

Isabel Keane23 March 2026 20:08

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Transportation Secretary Sean Duffy says LaGuardia is a ‘very well-staffed airport’

Transportation Secretary Sean Duffy said that LaGuardia Airport “is a very well-staffed airport.”

Duffy said they have 37 air traffic controller positions, 33 of which are currently staffed. Seven more controllers are going through training, he said.

Isabel Keane23 March 2026 19:59

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Collision was first incident resulting in death at LaGuardia Airport in over 30 years

The collision involving an Air Canada plane and a Port Authority fire truck was the first incident resulting in death at LaGuardia Airport in over 30 years, officials said during a Monday press briefing.

Kathryn Garcia, the head of the Port Authority, which operates all major New York area airports, said it’s been 34 years since there has been an incident resulting in death at the airport.

“This could have been an even broader tragedy if everyone had not responded as quickly as effectively as they did,” Garcia said.

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Isabel Keane23 March 2026 19:53

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Jesy Nelson says her heart ‘feels super heavy’ despite huge SMA update

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Jesy Nelson says her heart 'feels super heavy' despite huge SMA update
Jesy Nelson says it’s ‘bittersweet’ to see progress made towards SMA screenings outside England (Picture: Instagram)

Former Little Mix singer Jesy Nelson has admitted it’s ‘bittersweet’ seeing progress being made in the fight for babies to be screened for spinal muscular atrophy (SMA).

It has been announced that Scotland will be the first part of the UK to screen babies for the rare muscle disease that Jesy’s daughters also have.

The 34-year-old star and her now ex-fiance, Zion Foster, announced earlier this year that her twins, Ocean Jade and Story Monroe, were diagnosed with the rare genetic condition known as SMA, which causes progressive muscle wasting.

She has since campaigned for all babies to be screened for it, as early treatment can help avoid some of the most devastating effects.

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In a post on her Instagram Story on Monday, the Boyz hitmaker said: ‘Today my heart feels super heavy. It’s a very bittersweet moment knowing that Scotland had become the first UK nation to screen babies for SMA.

‘We’re so close yet so far.

Jesy Nelson says her heart 'feels super heavy' despite huge SMA update
She released a statement after the news that Scotland would begin screening babies for the rare muscular disease (Picture: Instagram)

‘I will never be able to understand why we still do not test for it here in England.’

According to the NHS, the condition causes muscle weakness, movement problems, breathing and swallowing difficulties, muscle tremors, and bone and joint problems.

Jesy said in January that her babies’ diagnosis would mean they are unlikely ever to be able to walk or regain their neck strength.

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She has also previously said their prognosis means they are unlikely to make it to their third birthday, and in her newest update, revealed they had been fitted with leg splints to support their joints.

Her twins have had treatment, a one-off infusion that puts a missing gene back into their bodies to stop other muscles from dying; however, it does not help regain any muscles that have already died.

She continued: ‘To know that my girls lives and so many other children in England could look so different if this had been here for them.

Jesy Nelson Instagram
Jesy is a proud mum to twins Ocean Jade and Story Monroe (Picture: Instagram)
Jesy Nelson instagram
Earlier this year, she was told that it was unlikely her daughters would ever walk (Picture: Instagram)

‘But nevertheless I will keep fighting and pushing for change because nobody should ever have to go through this heartache.’

From today, all parents in Scotland will be offered SMA screening for their newborns, on about day four after birth.

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After Jesy’s twins’ diagnosis, she launched a petition to get screening for SMA added to the newborn blood spot screening test, also known as the heel-prick test, which screens for serious health conditions.

The petition secured more than 100,000 signatures, which means it will be considered for a debate in the House of Commons.

Continuing her activism, she also became a patron of the charity Spinal Muscular Atrophy UK after meeting Health Secretary Wes Streeting earlier this year to speak about the life-changing impact early detection of the condition could have had on her twins.

Announcing her new role last month, the pop star wrote on social media that she felt ‘incredibly proud’ and it meant ‘so much to [her]’.

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Editorial use only Mandatory Credit: Photo by Ken McKay/ITV/Shutterstock (15410904y) Jesy Nelson, Zion Foster, introduce us to their baby girls, Ocean Jade and Story Monroe, 'This Morning' TV show, London, UK - 23 Jul 2025
Jesy shares her children with ex-partner Zion Foster (Picture: Ken McKay/ITV/Shutterstock)
Still from Jesy Nelson: Life After Little Mix.
She has vowed not to stop speaking out until ‘something changes’ (Picture: Amazon Prime Video)

‘I’ve been deeply touched by the SMA community from the strength of the children, the resilience of the families, and the love that surrounds them every single day,’ Jesy penned.

‘I’ll be using my voice to keep raising awareness not only for my girls, but to support families going through the same experiences, and campaigning for the SMA test to be added to the newborn screening heel-prick test so more babies can get the help they need as early as possible.’

Jesy has made it known that she is ‘not going to stop’ talking about SMA until ‘something changes’ and has been inundated with well-wishes since taking Ocean and Story’s diagnoses public.

Symptoms of SMA

As explained by the NHS, symptoms of spinal muscular atrophy (SMA) affect everyone differently but can include:

  • muscle weakness – such as floppy or weak arms and legs
  • movement problems – such as difficulty sitting up, crawling or walking
  • problems with breathing or swallowing
  • twitching or shaking muscles (tremors)
  • bone and joint problems – such as an unusually curved spine (scoliosis)

These symptoms are most often noticed in babies and toddlers, but they can also start in teenagers and adults.

SMA does not affect intelligence or cause learning disabilities.

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This has included messages from her former bandmates, Leigh-Anne Pinnock, Perrie Edwards, and Jade Thirlwall, with Jesy admitting it has ‘healed’ her to be back in touch after several years of not speaking.

On The Smallzy Show, Leigh-Anne, who has her own twin daughters, said recently that she and the other two members ‘obviously’ all reached out to Jesy when the news broke in January.

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‘I think she’s really incredible for spreading that awareness,’ the Don’t Say Love singer added.

Mandatory Credit: Photo by Ibl/Shutterstock (8859182a) Little Mix - Perrie Edwards, Jesy Nelson, Leigh-Anne Pinnock and Jade Thirlwall Little Mix portrait session, Stockholm, Sweden - 06 Jun 2017
Jesy’s ex-bandmates – Perrie Edwards, Leigh-Anne Pinnock, and Jade Thirlwall – have all ‘reached out’ to her this year following their feud (Picture: Ibl/Shutterstock)

Jesy also confirmed to Alison Hammond and Dermot O’Leary on This Morning that it was ‘lovely’ to hear from them.

‘They’re your sisters, aren’t they?’, Dermot asked.

‘Of course!’, Jesy agreed. ‘We were genuinely best friends, and things happen in life; it doesn’t always go how you think it’s going to, but three of us are mums now, I think we’ve all had time to heal; it’s been five, nearly six years, and I think it’s just one of those things that takes time.’

‘Who knows what will happen,’ she said of the possibility of reuniting, having left the group in 2020. ‘But since they’ve been reaching out, it’s lovely. It’s definitely healed a part of me, for sure.’

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DWP confirms early State Pension, PIP and benefit payments for next week

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Cambridgeshire Live

The DWP, HMRC and Social Security Scotland have confirmed some people will receive their payments early due to the Easter bank holidays

The Department for Work and Pensions (DWP) has confirmed that some individuals due to receive State Pension or benefit payments over the Easter weekend will see the money deposited into their bank accounts early. This year, Easter falls on Sunday, April 5, which means scheduled payments set to be made on Good Friday or bank holiday Monday will be issued on Thursday, April 2.

HM Revenue and Customs (HMRC) and Social Security Scotland have also confirmed that payments due on those days – Friday, April 3, or Monday, April 6 – will be made early. The DWP also stated that Jobcentre Plus Offices and phone lines will be closed on Friday, April 3 and Monday, April 6, but will open as usual on Tuesday, April 7.

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It’s crucial to note that if your upcoming payment does not fall on either of the Easter holidays, it will be paid as normal. Below is a full list of DWP, HMRC and Social Security Scotland payments which could be affected by the Easter bank holiday weekend.

If your benefit or payment is not listed, it will not be affected by the Easter bank holiday weekend, reports the Daily Record.

DWP payment dates over Easter weekend

Payments due to be made on Friday April 3 or Monday April 6 for the benefits listed below will be paid on Thursday, April 2.

Payments affected:

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  • Attendance Allowance
  • Carer’s Allowance
  • Employment Support Allowance (ESA)
  • Income Support
  • Jobseeker’s Allowance (JSA)
  • Pension Credit
  • Personal Independence Payment (PIP)
  • State Pension
  • Universal Credit

HMRC payment date changes over Easter weekend

Payments due to be made on Friday April 3 or Monday April 6 for the benefits listed below will be paid on Thursday, April 2.

Payments affected:

  • Child Benefit
  • Guardian’s Allowance

Social Security Scotland payment dates over Easter weekend

Payments scheduled for Friday, April 3, or Monday, April 6, for the benefits listed below will be made on Thursday, April 2.

Affected payments:

  • Adult Disability Payment
  • Child Disability Payment
  • Scottish Child Payment
  • Carer Support Payment
  • Pension Age Disability Payment
  • Scottish Adult Disability Living Allowance.

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Iran’s threat to bomb holiday hotspots as list of places within range revealed

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Daily Mirror

A new map shows areas believed to be within range of Iranian missile strikes after Tehran’s threat to target ‘parks, recreational areas and tourist destinations’

Iran threatened to target tourist sites across the world – and a map shows which locations may be within reach.

Iran’s top military spokesperson, General Abolfazl Shekarchi, warned on Friday that “parks, recreational areas and tourist destinations” worldwide will not be safe for the country’s enemies after the US and Israel launched their war against Tehran.

That same day, two Iranian missiles tried to target the joint US-UK military base in Diego Garcia, which lies in the Indian Ocean about 2,500 miles away from Iran. Defence Secretary John Healey said one failed and one was shot down.

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It is not clear what kind of missiles were used but Sidharth Kaushal, from the London-based think tank the Royal United Services Institute, told the BBC it could have been a version of Iran’s Khorramshah missile, which is based on a single-stage North Korean model and has a range of more than 1,200 miles.

Iranian missiles are generally assessed to have a range of about 1,240 to 1,860 miles, with Israeli estimates suggesting they could reach up to 2,485 miles, according to the BBC. A map shows the countries which are within a 1,200-mile range of Iran, the Express reports.

Countries within 1,200-mile range of Iran:

  • United Arab Emirates (UAE)
  • Cyprus
  • Egypt
  • Turkey
  • Israel
  • Lebanon
  • Syria
  • Iraq
  • Turkmenistan
  • Saudi Arabia
  • Yemen
  • Oman
  • Afghanistan
  • Tajikistan
  • Uzbekistan
  • Kyrgyzstan
  • Georgia
  • Pakistan
  • Russia
  • Kazakhstan
  • Jordan
  • Kuwait
  • Bahrain
  • Qatar
  • Ukraine

More than 1,500 people in Iran have been killed in US-Israeli strikes since February 28. In Lebanon, more than 1,000 people have been killed in Israeli strikes, and more than one million people have been displaced, according to the Lebanese government. UN peacekeepers in southern Lebanon report “intense gunfire and explosions” as Israeli ground forces fight Hezbollah militants.

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Fifteen people have been killed in Israel, and 13 US service members have been killed in combat, along with a number of civilians on land and at sea in the Gulf region.

It comes after US President Donald Trump claimed in a Truth Social post on Monday that his country and Iran held “productive conversations” about a “complete and total resolution” to the war in the Middle East. Several outlets reported that Trump’s special envoys Steve Witkoff and Jared Kushner have been negotiating with Iran’s parliament speaker, Mohammad-Bagher Ghalibaf.

However, Ghalibaf branded reports of talks between the US and Iran as “fake news”. “No negotiations have been held with the US, and fakenews is used to manipulate the financial and oil markets and escape the quagmire in which the US and Israel are trapped,” he said.

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Why the damage to Qatar’s gas infrastructure could push costs higher for years to come

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Why the damage to Qatar’s gas infrastructure could push costs higher for years to come

On March 19, Ras Laffan, the largest liquified natural gas (LNG) terminal in the world, supplying one-fifth of the world’s super-chilled fuel, was hit by Iranian missiles and drones. The Qatari terminal suffered substantial damage in the strikes – fires were raging across the gas-to-liquids facility within the complex, which covers 295 square kilometres – the size of a large city.

Investments worth tens if not hundreds of millions of dollars disappeared into thin air. Damage was estimated to be so extensive that QatarEnergy’s CEO, Saad Sherida al-Kaabi, said the company may have to declare a “force majeure” (non-fulfilment of orders due to circumstances outside their control) on long-term contracts. He said this could affect LNG supplies to Italy, Belgium, Korea and China “for up to five years”.

Similar to oil, gas exports from the Persian Gulf supplied about 20% of world demand. But gas (mostly methane) is a very different fuel from crude oil. To move it in liquified form, methane must be chilled to below -162°C.

But at these temperatures steel becomes brittle and shatters. So storing and transporting LNG in ships is expensive and very energy-intensive. Liquefaction and transportation of methane can easily consume 15% of the initial natural gas extracted.

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It also means that the infrastructure that enables a highly flammable and explosive fuel to be handled at these extreme conditions has to be complex and consequently very expensive. Ras Laffan, for example, was built over decades and in several phases, costing tens of billions of dollars.

No quick fix

Interestingly, Qatar’s North Field and Iran’s South Pars gas field are part of the same massive geological structure, separated only by a maritime border in the Persian Gulf. Together, they form the world’s largest natural gas field.

So, Iran and Qatar are essentially exploiting the same gas reservoir the same way two people would use straws to drink from the same bottle. The US president, Donald Trump, now appears to have retreated from his threats to blow up “the entirety” of the Iranian gas field – but this geological fact had always made his comments quite ridiculous.

While Qatar exports most of its production, Iran uses the bulk of its gas domestically (although some exports go via pipeline to Turkey and Iraq).

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Iran’s South Pars gas field is separated from Qatar’s North Field only by the maritime border in the Persian Gulf.
EPA/ABEDIN TAHERKENAREH

But the damage to the complex has been done, and it affects some 17% of the country’s LNG infrastructure. Repairing it will take a long time, precisely because of the complexity of LNG projects.

The plant must be warmed up slowly before repairs and cooled down slowly after. Rapid temperature changes can cause pipes to bend or even snap. And parts of the plant are bulky and hard to transport. The main heat exchangers can be more than 50 metres long, and compressors, turbines and liquefaction trains can easily weigh 5,000 metric tonnes. Storage tanks must be built of special alloys with double walls and customised insulation.

In other words, gas is very different to oil. Recent events have shown just how vulnerable the LNG supplies from the Gulf region are. They are going to affect Asia most, as about three-quarters of Qatar’s LNG ends up there – particularly China, India, Taiwan, South Korea and Pakistan, as well as others.

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Most of the rest ends up in Europe – Italy, Belgium, Poland and a small amount to the UK (the UK imported only about 1% of its supply from Qatar last year). The majority of the UK’s imports come from its own UK production in the North Sea and imports from Norway and the US.

However, LNG is a part of the global energy market and the shortfall in production will result in higher prices globally. Gas will end up with the highest bidder, while some nations will probably go back to using coal. This may especially be the case with India, Pakistan, Bangladesh and a few other Asian countries that are very sensitive to high fuel prices.

Some European countries may even see coal as a cheaper option. Following the events in the Gulf, this “spark spread” (the profit margin from gas-fired electricity generation) has fallen, narrowing the gap in Europe with the “dark spread” (profit from generating power using coal).

The benchmark for European gas prices, the Dutch Title Transfer Facility, has more than doubled since mid-January. Coal prices have picked up due to higher demand, but not as much. Unlike oil, the LNG shortage has turned from a logistical problem – the closure of the strait of Hormuz – into a structural one. The damage to the Qatari production facility may take several years to repair. This means that gas prices – already high – are likely to remain elevated for some time.

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Wayne Rooney makes Premier League title claim after Arsenal’s defeat to Man City | Football

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Wayne Rooney makes Premier League title claim after Arsenal's defeat to Man City | Football
Wayne Rooney won five Premier League titles at Man Utd (Picture: Getty)

Wayne Rooney has downplayed the importance of Arsenal’s Carabao Cup final defeat to Manchester City on the Premier League title race.

Man City secured the first piece of silverware of the season courtesy of a 2-0 win over Arsenal at Wembley on Sunday.

The Gunners were hoping to lift their first major trophy since 2020 but were undone by Nico O’Reilly’s quickfire second-half brace.

Speaking after the final, Gary Neville suggested Man City had ‘landed a psychological blow’ on Arsenal as they attempt to reel in the Premier League leaders.

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Arsenal boast a nine-point lead at the top of the table but are aware City have a game in hand and a home match against them to close the gap.

Rooney doubts the Carabao Cup final will have a huge impact on the title race, however, and is still backing Arsenal to lift the Premier League trophy for the first time in 22 years.

Asked how big an impact Man City’s win will have on the title race, Rooney said on his BBC podcast: ‘I don’t think it will.

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Arsenal v Manchester City - Carabao Cup Final
Manchester City beat Arsenal in the Carabao Cup final (Picture: Getty)

‘Arsenal are still in a very good position, as good a position as you can be at this stage of the season.

‘For Man City to catch them I think they have to win every game and Arsenal drop seven points. City will need to beat them at home as well.

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‘So I think it’s a tough ask. You never know but I just think Arsenal need to dust themselves down and move on from this quickly.

Arsenal v Manchester City - Carabao Cup Final
Arsenal’s squad after the Carabao Cup final (Picture: Getty)

‘I’m sure they will go back to winning games and see the title out. I just think Arsenal are too good, too efficient and too strong defensively to let it slip from here.’

Asked whether he felt Arsenal could ‘bottle’ the Premier League title, the Manchester United and England legend added: ‘I think this team is different. From all the things I have seen, they look mentally stronger.’

Jamie Carragher also still expects Arsenal to beat Manchester City to the Premier League title despite the Carabao Cup final blow.

‘Man City have let themselves down with a couple of results of late, and there’s enough breathing space for Arsenal right now [for this to] not affect them too much mentally,’ he said on Sky Sports.

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‘In terms of the Premier League, they’ve got a great lead. Yes, if they lose at Man City, it could be on. Of course, it could be, but if [the gap] was a lot tighter it would play into it a little bit more.

‘Arsenal have been the best team in the league. They’ve only lost four games out of 50 [in all competitions], let’s not get too carried away, let’s not forget that.

‘And in the Champions League, they’re on the right side of the draw, and they’ve got a great opportunity [to reach the final].

‘But what we saw today, and one of the criticisms I have of Arsenal as a team… is that they lack something really special in the attack.

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‘They lack a world-class talent who could have just turned that game forward. They definitely lack that.’

After a lengthy gap Arsenal return to Premier League action on April 11 against Bournemouth, while Man City visit Chelsea the following day.

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High-majors rule as NCAA Tournament spins toward Sweet 16

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High-majors rule as NCAA Tournament spins toward Sweet 16

Cinderella has been kicked out of the dance early for the second straight season.

Following a madness-promising first day of upsets, the NCAA Tournament has turned into a high-major affair.

The Sweet 16 invite is for power-conference programs only.

Advocates for fewer automatic qualifiers and bracket expansion will have a field day with this one.

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“I think parity is great for the game, but things change,” said Arizona coach Tommy Lloyd, who spent 21 seasons as an assistant at Gonzaga.

The Big Ten is the big conference on the block, pushing through a league-record six teams into the Sweet 16 — three in the same region.

The SEC has four Sweet 16 teams, the Big 12 three, the Big East two, the ACC one.

Mid-majors: zero for the second straight season.

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East Region

The top three seeds made it through the East.

St. John’s is the Darling.

The fifth-seeded Red Storm (30-6) blew a 12-point lead against Kansas, but Dylan Darling, who hadn’t hit a shot all day, scored at the buzzer for a 67-65 win that sends St. John’s to the Sweet 16 for the first time since 1999.

Next up for the Johnnies is a date with Duke on Friday in Washington.

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The Blue Devils (34-2) and star freshman Cameron Boozer had an opening 1-vs.-16 scare against Siena but took it out on TCU with an 81-58 win to reach the Sweet 16 for the third straight season.

The second regional semifinal likely will leave both teams bruised and battered.

UConn (31-5) lost in the second round last season following consecutive national championships but clamped down on UCLA to earn a Sweet 16 return.

Michigan State (27-7) is in the Sweet 16 for the 17th time under coach Tom Izzo, led by the dynamic duo of Jeremy Fears Jr. and Coen Carr.

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South Region

No. 2 seed Houston avoided having to play reigning national champion Florida — Iowa made sure of that — and will be playing at home for the South Region.

The Cougars (30-6) will be surrounded by Big Ten teams, starting with a 2-mile trip from campus against Illinois on Thursday.

The Illini (26-8) are big — bigger than any team in the country.

They used that size to their advantage, clobbering Penn and VCU to reach the Sweet 16 for the second time in three seasons under coach Brad Underwood.

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The second East semifinal will be the battle of the corn.

No. 4 seed Nebraska (28-6) is the closest thing the Sweet 16 has to an underdog — only because it had never won an NCAA Tournament game prior to this season.

No. 9 seed Iowa (23-12) finished 10-10 in the Big Ten but has bullied its way through the bracket so far, reaching the Sweet 16 for the first time since 1999 by ending Florida’s repeat bid.

Midwest Region

Michigan has looked every bit a top seed, winning its first two games by an average of 22 points.

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Next up is a showdown with No. 4 seed Alabama on Friday in Chicago.

The Crimson Tide (25-9) washed away Texas Tech by raining down 19 3-pointers in a 90-65 thrashing to reach the Sweet 16 for the fourth straight season.

No. 2 seed Iowa State took a big hit when All-America forward Joshua Jefferson sprained his ankle in the Cyclones’ opener and didn’t play against Kentucky.

It did little to slow them down; the Cyclones (29-7) spun away from Kentucky 82-63 to reach the Sweet 16 for the third time under coach T.J. Otzelberger.

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Iowa State hopes to have Jefferson back for Friday’s game and will likely need him against Tennessee.

The No. 6 Vols (24-11) have been Sweet 16 regulars under coach Rick Barnes and made it four straight by outlasting Virginia 79-72.

West Region

The West has an SEC team disguised as Cinderella.

Texas has a world of resources and plays in the SEC yet found itself in Dayton, Ohio, as a No. 11 seed.

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The Longhorns (21-14) pulled it together at just the right time in their first season under coach Sean Miller, knocking off No. 3 seed Gonzaga to become the sixth First Four team to reach the Sweet 16.

That earns them a spot in the West semifinals against No. 2 Purdue on Thursday in San Jose, California.

Coach Matt Painter has molded the Boilermakers (29-8) into a model of consistency, reaching the Sweet 16 seven times the last nine seasons — including the 2024 title game — with their 79-69 win over Miami.

The showdown between No. 1 Arizona and No. 4 Alabama will be an NBA scout’s delight.

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The Wildcats (34-2) go eight deep in potential future pros and guard Jaden Bradley has a knack for making the biggest plays at the biggest moments.

John Calipari set the standard for recruiting NBA lottery picks at Kentucky, and it’s been no different in his second season in Fayetteville. Fabulous freshman Darius Acuff Jr. was the star in Arkansas’ 94-88 win over High Point, scoring 36 points as the Razorbacks secured their second straight Sweet 16 berth.

___

AP March Madness bracket: https://apnews.com/hub/ncaa-mens-bracket and coverage: https://apnews.com/hub/march-madness

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The Standard podcast: Should Harley Street’s cosmetic ‘hot-desking’ be halted?

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The Standard podcast: Should Harley Street's cosmetic 'hot-desking' be halted?

In this episode, host Tamara Kormornick speaks to Niva Yadav, the Standard’s trainee journalist, who has been investigating the world of rogue cosmetic practitioners in Harley Street. The two discuss the medical status of dermal filler, whether the government’s attempts to regulate the industry go far enough, and tips on what to ask a cosmetic practitioner before undergoing a treatment.

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How sex tapes and fake assassination plots have shaped Hungary’s wild election | News Politics

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How sex tapes and fake assassination plots have shaped Hungary's wild election | News Politics
Peter Magyar, left, is hoping to beat Victor Orban, right, to become Hungary’s new prime minister (Picture: Getty/Metro)

The UK’s most recent general election in 2024 certainly contained its share of drama – think Rishi Sunak’s D-Day blunder, or Nigel Farage’s dramatic return to the fray.

But for truly bizarre politics, Hungary really takes the Dobosh.

On April 12, the eastern European nation will go to the polls for its first parliamentary elections since 2022.

Last time around, incumbent Prime Minister Viktor Orbán – a strong ally of Donald Trump with a distinctive centre-parted haircut – achieved a romping victory for his party Fidesz.

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He’s spent the last four years yanking his country further to the right and doing his best to stop support being sent to Ukraine in its fight against Russian invaders.

However, a worsening Hungarian economy has hampered his chances of scoring a fifth term as PM.

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Metro’s senior politics reporter Craig Munro breaks down all the chaos into easy to follow insight, in Metro‘s politics newsletter Alright, Gov? Sent every Wednesday. Sign up here.

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Polls suggest his party has been overtaken by a relatively new challenger called Tisza, which has rocketed in popularity since Orbán critic Péter Magyar took over in July 2024.

Magyar – whose surname literally translates to ‘Hungarian’ – was once a loyal member of Fidesz, but resigned in February 2024 with a blistering attack on Orbán’s record.

Unsurprisingly, there is no love lost between the two men, which may explain why the latest election has become a little… messy.

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BUDAPEST, HUNGARY - MARCH 15: Peter Magyar, Hungarian opposition, leader of the 'TISZA' (Respect and Freedom) party, delivers a speech at a demonstration during commemorations of the 178th anniversary of the 1948/49 Hungarian Revolution on March 15, 2026 in Budapest, Hungary. A rally by Fidesz party supporters of Viktor Orban, Hungary's long-serving prime minister, is taking place alongside a demonstration led by Peter Magyar, leader of the Tisza party, and Orban's main challenger in the upcoming parliamentary elections scheduled for April 12. The 1848 Hungarian Revolution sought independence from Austria through a peaceful movement, standing apart from the many European Revolutions of that same year. Despite its failure, it remains pivotal in Hungarian history, with its anniversary, March 15, being one of the nation's three national holidays. (Photo by Janos Kummer/Getty Images)
Peter Magyar speaking in Hungary during the campaign (Photo by Janos Kummer/Getty Images)

Even before campaigning had fully kicked off, Magyar attracted international headlines with claims his opponents were plotting to blackmail him with a sex tape.

The opposition leader said Fidesz was ‘planning to release a recording, recorded with secret service equipment and possibly faked, in which my then-girlfriend and I are seen having intimate intercourse’.

The accusation stemmed, he said, from a picture of a bedroom that had been shared with journalists, captioned ‘coming soon’.

Fidesz denied any involvement in such a plot, and no such video appears to have been published.

BUDAPEST, HUNGARY - FEBRUARY 17: Russian President Vladimir Putin (L) and Hungarian Prime Minister Viktor Orban arrive to speak to the media following lengthy talks at Parliament on February 17, 2015 in Budapest, Hungary. Putin is in Budapest on a one-day visit, his first visit to an EU-member country since he attended ceremonies marking the 70th anniversary of the D-Day invasions in France in June, 2014. (Photo by Sean Gallup/Getty Images)
Vladimir Putin and Viktor Orban, who is considered one of the European leaders closest to the Russian president (Picture: Sean Gallup/Getty Images)

Then, on Sunday, the Washington Post published an explosive story suggesting the stakes in the election were being felt far beyond Hungary’s borders.

As mentioned above, Orbán has made a name for himself as a rare voice opposing support for Ukraine within the European Union and Nato.

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That has endeared him to Moscow, who allegedly offered some help to tip the scales of the election in his favour – with extraordinarily melodramatic methods.

Citing an internal report for Russia’s foreign intelligence service the SVR, the US newspaper said officers considered a strategy they called ‘the Gamechanger’.

It involved, bluntly, ‘the staging of an assassination attempt on Viktor Orbán’.

Orban, who has led Hungary for 16 years, sits on Donald Trump’s Board of Peace (Picture: Fabrice COFFRINI / AFP via Getty Images)

Their alleged plan may have been inspired by the impact of the attempted killing of Donald Trump during the 2024 US presidential election, which resulted in an iconic picture and rallied support.

This report was dismissed by Hungarian foreign minister Péter Szijjártó as ‘insane conspiracy theories that are beyond imagination’.

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Questions have also been asked about the decision to appoint a former interpreter for Vladimir Putin to a top role monitoring the parliamentary election.

Daria Boyarskaya will help co-ordinate the work of the Organisation for Security and Co-operation in Europe overseeing the democratic process next month.

But in a previous life, she worked for years in Russia’s foreign ministry and helped to interpret meetings including one between Putin and Donald Trump in 2019, according to the Guardian.

How fake assassination plots and sex tapes have shaped Hungary's bizarre election picture: East2West SUPPLIED TO METRO
Daria Boyarskaya beside Vladimir Putin at a meeting with Donald Trump (Picture: East2West)

The choice was criticised by rights group the Hungarian Helsinki Committee, but OSCE secretary general Roberto Montella said Ms Boyarskaya retains his ‘full trust and confidence’.

A spokesperson for the group added: ‘The Russian government does not pay Ms Boyarskaya’s salary, nor has it done it so in the past.’

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Meanwhile, Polish Prime Minister Donald Tusk accused Orbán’s team of ‘inform[ing] Moscow about EU Council meetings in every detail’ in an X post on Sunday.

Political news site Politico reported the EU was limiting the amount of confidential material passed to Hungary’s leaders out of concern it would end up in the hands of the Kremlin.

János Bóka, the Hungarian Europe Minister, described the story as ‘fake news’.

And Russia is not the only source of foreign support for Orbán and his government ahead of the crucial elections – President Trump has his back too.

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In a video message shown at a conference on Saturday, Trump said: ‘He’s a fantastic guy and it’s such an honour to endorse him.’

In less than two weeks, we’ll know whether that had an impact – but who knows what could happen before then?

Get in touch with our news team by emailing us at webnews@metro.co.uk.

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