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Iran's response to aggression
The Islamic Revolution Guards Corps (IRGC) spokesman says Iran has reached a point where if the enemy hits two or three targets, the Islamic Republic will respond by striking twenty targets. Spokesman Brigadier General Mohseni Mohebi made the remarks at a meeting with media managers. He said the enemy is using psychological warfare to weaken national will, but Iran's self-reliance and domestic capabilities have proven decisive. General Mohebbi also reiterated Iran's conditions for reopening the Strait of Hormuz, which include a complete halt in aggression, refraining from new threats, Israeli withdrawal from Lebanon, an end to the blockade on Yemen, the release of Iran's frozen assets, and an end to all interference in Iran's nuclear and missile capabilities.
Oil prices rise
Oil prices have surpassed one-hundred dollars a barrel, as tensions in West Asia raise fresh concerns over global energy supplies and fuel inflation fears. Brent crude rose more than 3% to over $101 a barrel, marking its highest level since July. West Texas Intermediate followed suit, surpassing ninety-six dollars per barrel, its highest level since June. The rise follows a sharp drop in shipping through the Strait of Hormuz, a key route for global oil supplies. The continuing war is also raising concerns that central banks could keep interest rates higher to contain inflation. Investors are now closely watching the release of US consumer price data on Friday, which could influence the Federal Reserve’s decision on interest rates next week.
UK travel chaos
Thousands of passengers remain stranded across the UK and Europe after a second day of widespread flight cancellations caused by an air traffic control issue. An aviation analytics firm says more than two-thousand flights have been affected over the past two days. British Airways alone cancelled nearly 200 flights on Wednesday, following over 300 cancellations on Tuesday. Stranded passengers have described sleeping on airport floors and poor communication from airlines, calling the experience a nightmare. The disruption could last for days as crews and planes are out of position, with many passengers now facing delays of up to two days.
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