- Sir Keir Starmer has advised Britons not to panic over the economic repercussions of the Iran conflict, though he conceded that shopping habits and holiday plans might need to adapt.
- The Prime Minister, who will chair a ministerial Iran crisis committee on Tuesday, expressed confidence in supply chains “at the moment” and stressed efforts to reopen the Strait of Hormuz, a crucial oil and gas shipping route closed by Iran.
- Sir Keir also revealed that France and Britain plan to lead a “military mission” to reassure ships in the Strait of Hormuz, an initiative from the Prime Minister and French President Emmanuel Macron, which is expected to commence only after hostilities conclude.
- Oil prices reached a near three-week high following the collapse of anticipated peace talks between the US and Iran, after President Donald Trump stated that US envoys would not be travelling to Islamabad due to a lack of progress.
- Despite the ongoing conflict, the Government has capped household energy costs until July and frozen fuel duty until September, aiming to mitigate the immediate financial impact on the public.
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