Middle East peace breakthrough as Iran hints it will open Strait of Hormuz and Trump hails major Israel and Lebanon development
Two of Europe's biggest airlines have cancelled hundreds of flights amid soaring fuel costs triggered by the Middle East war. Lufthansa said today that a regional subsidiary, Lufthansa CityLine, would be suspending operations from Saturday amid high kerosene prices and labour disputes. And KLM said it had cancelled 160 flights in the next month due to rising fuel costs. It comes after the head of the International Energy Agency (IEA) warned the continent has 'maybe six weeks' of jet fuel left in a sobering prediction. IEA Executive Director Fatih Birol painted a damning picture of the global repercussions of what he called 'the largest energy crisis we have ever faced' in an interview with AP, stemming from the pinch-off of oil, gas and other vital supplies through the Strait of Hormuz. 'In the past there was a group called "Dire Straits." It's a dire strait now, and it is going to have major implications for the global economy. And the longer it goes, the worse it will be for the economic growth and inflation around the world,' he said.The impact will be 'higher petrol (gasoline) prices, higher gas prices, high electricity prices,' Birol added, with some parts of the world 'hit worse than the others'.'The front line is the Asian countries' that rely on energy from the Middle East, he said, naming Japan, Korea, India, China, Pakistan and Bangladesh.'Then it will come to Europe and the Americas,' he added, speaking from his Paris office looking out over the Eiffel Tower.If the Strait of Hormuz isn't reopened, he said that for Europe, 'I can tell you soon we will hear the news that some of the flights from city A to city B might be canceled as a result of lack of jet fuel'.Meanwhile, Israel and Lebanon agreed to a 10-day ceasefire beginning at 5pm EST (10pm BST) on Thursday.
Lufthansa to shut down CityLine feeder airline due to high fuel costsLatest updatesEurope has 'maybe six weeks of jet fuel left' according to the head of the International Energy Agency, warning of flight cancellations 'soon' if oil supplies remain blocked by the Iran warIran-US talks have turned to interim deal amid rifts over nuclear work, Iranian sources sayPete Hegseth has warned Iran that America is 'locked and loaded' as he claimed US in control of Strait of HormuzUS President Donald Trump said Israel and Lebanon have agreed to a 10-day ceasefireHuge plumes of smoke were seen rising above Nabatiyeh as Israel unleashed a barrage of strikes on southern Lebanon, destroying the last bridge connecting the region to the rest of the countryIran is considering allowing ships to sail freely through the Omani side of the Strait of Hormuz without risk of attack, as part of proposals it has offered in negotiations with the USThe White House has expressed optimism about the prospect of a peace deal, with conversations mediated by Pakistan described as 'productive and ongoing'Europe has 'maybe six weeks of jet fuel left,' warns energy agency headBreaking:Lebanon accuses Israel of violating ceasefireTrump wants Hezbollah to act 'nicely and well' during ceasefireStarmer to say reopening Hormuz is a 'global responsibility'The unconditional and immediate reopening of the strait is a global responsibility, and we need to act to get global energy and trade flowing freely again.Emmanuel Macron and I are clear in our commitment to establish a multinational initiative to protect freedom of navigation.We must reassure commercial shipping and support mine clearance operations to ensure a return to global stability and security.PICTURED: Hezbollah supporters brandish weapons in celebration of ceasefire deal UN chief asks for 'respect' for ceasefireIsrael warns Lebanese not to return south of Litani riverPICTURED: Displaced Lebanese make their way home amid ceasefirePICTURED: Tracer rounds fired in celebration in BeirutIsrael and Hezbollah exchange fire minutes before ceasefire
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Airlines cancel hundreds of flights as jet fuel prices soar amid fears Europe has just 'six weeks' of supply left: Updates
