The United Arab Emirates (UAE) has announced its departure from the Organisation of the Petroleum Exporting Countries (Opec), ending a nearly 60-year affiliation with the oil cartel.
Global oil prices have surged and stock markets have fallen following US President Donald Trump's renewed threats of severe action against Iran, casting doubt on a swift resolution to the conflict and its impact on global energy supplies.
Former US President Donald Trump's proposed budget would allocate an additional $1.5 trillion to defence, funded in part by a 10% reduction in non-defence discretionary spending, impacting various domestic programmes.
Escalating tensions in the Middle East, primarily stemming from Israel's actions and subsequent US involvement, could significantly impact UK homeowners, with the Bank of England warning of potential mortgage rate increases for 1.3 million households due to surging energy prices.
