Overview
- Following a prime‑time address in which President Trump vowed heavier strikes for two to three weeks, Brent and U.S. crude jumped about 7–8% to near $108 and Asian stocks fell.
- Governments launched coordination efforts, with the UK convening about 35 countries to discuss reopening Hormuz as the World Bank warned of severe inflation and food risks.
- UAE leaders said energy operations remain resilient, with ADNOC activating continuity plans, adjusting export products, and noting limited site impacts after air defenses intercepted Iranian attacks.
- Financial Times reporting said Gulf states are revisiting expensive pipeline projects to bypass Hormuz, highlighting Saudi Arabia’s East–West line as the key current workaround and noting new routes could take years and cost billions.
- The shock is reaching daily life, as Chinese airlines raised fuel surcharges and Malaysia urged remote work to save energy, even as Dubai posted a record AED 175.88 billion in Q1 property sales that signal local resilience.