- The US and Israel on Feb 28 launched what they described as a “pre-emptive” joint strike against Iranian targets, with Trump announcing start of “major combat operations”
- Supreme Leader Ayatollah Ali Khamenei assassinated in US-Israeli strikes; Mojtaba Khamenei replaces his father as Iran’s new supreme leader
- Iran, US agree to two-week “immediate ceasefire” on April 8 in Pakistan-mediated breakthrough
- No deal between US, Iran delegations after 21-hour-long marathon Islamabad Talks on April 11
Qantas lifts fuel cost forecast as Middle East war jolts oil markets
Australia’s Qantas Airways said on Tuesday it has raised its fuel cost outlook and delayed a planned share buyback, citing sharply higher and volatile jet fuel prices after the war in the Middle East disrupted oil supplies.
The airline said jet fuel prices have more than doubled, lifting its estimated fuel bill for the second half of fiscal 2026 to A$3.1 billion-A$3.3 billion ($2.20bn-$2.34bn), up from its prior forecast of A$2.5bn.
While Qantas has hedged much of its crude exposure, it remains significantly exposed to the spike in jet fuel spreads, the Australian flag carrier said.
“Qantas continues to see strong demand for international travel to Europe as customers seek alternative routes,” the airline said.
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Iran demands compensation from 5 regional countries for role during war: state media
Iran’s Permanent Representative to the United Nations has said the country demands “compensation from five regional countries, including Bahrain, Saudi Arabia, Qatar, the UAE, and Jordan, for their participation in the US and Israeli war against Iran”, Tasnim news agency reports.
Iranian minister describes ‘favourable’ oil sales in March and April
Oil Minister Mohsen Paknejad has said Iran’s oil sales since the start of the war have been “favourable,” Al Jazeera reports.*
In comments carried by the Fars news agency, Paknejad said a portion of the resources should be used to help rebuild the industry damaged by the war.
The minister said last month that the selling price of Iranian crude oil had increased significantly.
Iran FM denounces US’s ‘destructive interference’ in phone call with Omani counterpart
Iran’s FM Abbas Araghchi has denounced the US’s “destructive interference” in the Middle East during a phone conversation with his Omani counterpart Badr Albusaidi, Iran state media Press TV reports.
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