German airline Lufthansa has announced the cancellation of 20,000 short-haul flights across Europe this summer. The airline attributes these cuts to a doubling of jet fuel prices since the US-Israel coalition initiated strikes on Iran in February 2024, rendering many routes unprofitable. Other carriers, including KLM-France and Delta, have also reduced services or increased fares.
UK motorists are seeing a slight reduction in petrol and diesel prices for the first time since the US-Israel war with Iran began. This follows weeks of elevated costs driven by the closure of the Strait of Hormuz, a critical transit route for global oil and gas.
Ukraine's President Volodymyr Zelensky has criticised the US decision to extend a waiver allowing Russia to sell oil until 16 May, arguing that such sales directly fund Moscow's military operations in Ukraine. The US justified the extension by citing global energy supply disruptions following the US-Israel war with Iran.
Iran has announced the renewed closure of the Strait of Hormuz to commercial shipping, threatening to target any vessel attempting passage. This development follows reports of multiple attacks on ships in the vicinity and Iran's condemnation of a persistent US blockade on its ports, deepening a conflict that commenced with US-Israeli strikes on 28 February.
