Simon Browning
Business Reporter

Image source, PA Media

The trade body representing airlines operating in the UK says they “are currently not seeing disruption to jet fuel supply”.

Airlines UK says it continues to engage with fuel suppliers and government to monitor the situation.

Other airline sources have told the BBC they have good visibility and supply for the next five to six weeks and there are no crisis meetings happening about operational supply.

Reports have suggested that the UK is a week away from running out of jet fuel, something that aviation leaders do not recognise, with one referring to that as "sensationalist".

While there are issues with supply in other regions of the world, those who have spoken to the BBC say it could present problems - but those problems are not imminent.

One aviation source fears that "we are talking ourselves into something that isn’t real".

As Iran and Israel trade strikes this morning, Gulf states are continuing to face projectile attacks.

• UAE: A Bangladeshi man died after debris from an intercepted drone fell at a farm in the emirate of Fujairah
• Qatar: A tanker off the coast of the country was struck by "two projectiles", according to the UK Maritime Trade Operations (UKMTO) Centre
• Bahrain: Sirens sounded this morning, according to the Ministry of Interior, and emergency workers responded to a fire "in a facility of a company as a result of the Iranian aggression"
• Saudi Arabia: The defence ministry said it had intercepted and destroyed two drones this morning and more last night
• Kuwait: Fuel tanks at Kuwait International Airport were targeted by drones, according to the civil aviation authority, who blamed Iran. It said a "large fire" broke out and the attack resulted in "significant damage" but no casualties

Ghoncheh Habibiazad
Senior reporter, BBC Persian

Image source, EPA

It’s still very difficult to contact those inside Iran amid a government-imposed internet outage, but from what I’ve heard, the strikes on the city mostly happened early this morning.

“I feel like I’ve been in a purgatory for a month. I can’t do anything, and everything is up in the air. I’m so tired of the war,” a Tehran man in his 20s says.

Some still support the strikes. A woman in her 40s in the capital tells me: “I want them to continue striking. I’m tired of this situation, I want them [clerics] to go.”

Some have tried to find routines for themselves as the war goes on, like going to cafes, walking outside in a park, or going to the gym.

Ghoncheh Habibiazad
Senior reporter, BBC Persian

Iran's internet blackout has now entered day 33, with most users cut off from the outside world for over 768 hours, according to internet monitoring group NetBlocks.

Connectivity to the outside world remains at 1% of normal levels.

Netblocks has said that “authorities widen their crackdown on satellite terminals in a bid to eliminate remaining means of communication with the outside world".

Meanwhile, the BBC understands that some officials, pro-establishment users, and journalists still have unrestricted access, while others are paying large sums to get online.

A few people have managed to connect using satellite internet such as Starlink and other methods, but using or possessing Starlink can lead to up to two years in prison in Iran.

Dearbail Jordan
Senior business and economics reporter

Oil prices have fallen even further and are now back down below $100 a barrel – for the moment.

Following US President Donald Trump’s statement about the Iran war potentially ending “very soon”, Brent crude is now trading at $99.32.

European stock markets have opened higher. In London, the FTSE 100 is up 1.7%. Germany’s Dax is ahead 2.5% and in France, the Cac has risen by 2.1%.

Oil prices have been extremely volatile during the five weeks of the US-Israel war with Iran.

Image source, EPA

We're now bringing you up to speed on the latest developments. US President Donald Trump says the US will "leave" Iran in "two to three weeks" when they are certain the regime cannot build a nuclear weapon "for years".

He says while Iran is "begging to make a deal", whether it happens is "irrelevant" to America's timetable. His latest comments delivered in the Oval Office come ahead of a national address on Iran Trump is scheduled to make on Wednesday night Washington local time.

Iran's president Masoud Pezeshkian has said his country has the "necessary will" to end the war with the United States and Israel as long as certain conditions are met.

Meanwhile, the head of Iranian Parliament's National Security Committee, Ebrahim Azizi, says in an X post addressing Donald Trump, "the Strait of Hormuz will certainly reopen, but not for you", in reference to Iran's blocking of the key shipping lane that has caused global energy prices to soar.

Israel and Iran have continued to trade strikes overnight, with injuries reported following a strike outside Tel Aviv, and a tanker was hit by two projectiles off the coast of Qatar, and a man has been killed in the UAE as Gulf States continue to confront strikes.

In the UK, Prime Minister Keir Starmer will hold a media conference on the war, including how the government is responding to rising costs.

Dearbail Jordan
Senior business and economics reporter

Oil prices have fallen on Wednesday, down more than 3% to just above $100 per barrel.

It follows US President Donald Trump's remarks in the Oval Office last night the country will be leaving Iran “very soon” and military action could end in two or three weeks.

However, Brent crude prices remain 39% higher compared to 28 February, when the war began and Iran effectively closed the Strait of Hormuz, a crucial route for global oil and gas supplies.

Image source, Magen David Adom

Fourteen people, including an 11-year-old girl and 13-year-old boy, have been injured in the earlier Iranian strike on the outskirts of Tel Aviv.

In an update on the injuries suffered in the strike, Magen David Adom, Israel's emergency services, says the girl suffered shrapnel injuries and has been evacuated to a local hospital.

In a separate update, the service says no further injuries have been reported following another barrage of strikes from Iran.

A man has died after debris from an intercepted drone fell at a farm in Al Rifa, in the Emirate of Fujairah in the UAE, local authorities say.

The man was a Bangladeshi national, the Fujairah Media Office says in a statement shared on social media.

The UAE has intercepted 1977 drones and 433 ballistic missiles since the start of the war, the country's ministry of defence said yesterday.

Image source, EPA

A little earlier, the Israel Defense Forces (IDF) said it had carried out a wide-scale wave of overnight strikes on Iran's capital, Tehran.

The IDF says it has been targeting infrastructure site linked to the Iranian regime.

In the last hour and a half, Tehran has responded with three separate missile launches on Israel.

The UK Maritime Trade Operations (UKMTO) Centre has provided an update on the tanker struck off the coast of Qatar earlier.

UKMTO says the vessel was struck by "two projectiles". One caused a fire which has now been extinguished while the other "remains unexploded within the vessel's engine room".

The centre says it is currently unable to confirm the origin of the projectiles and an investigation is underway.

Image source, Reuters

Israel emergency services, Magen David Adom, says its teams have been deployed to multiple areas after reports of fresh Iranian missiles strikes.

The Israel Defense Forces (IDF) said a little before 06:00 BST (08:00 local time) it had detected a new wave of projectiles fired from Iran.

MDA says it has provided treatment to an 11-year-old girl in a "serious condition" and two others in Bnei Brak, east of Tel Aviv.

Peter Ruddick and Shanaz Musafer
Business reporters

Image source, EPA

Staying in the UK, Chancellor Rachel Reeves has told the BBC any support the government offers to help people with high energy bills pushed up by the Iran war would be based on household income.

Wholesale oil and gas prices have soared over the past month, with supply from the Middle East severely disrupted. While household energy bills are set to fall in April under Ofgem's price cap, there is likely to be a big jump over the summer.

Rachel Reeves said it was "too early" to say exactly who would get help but hinted any support would not arrive until the autumn.

In a new interview with BBC Breakfast, she said: "I want to learn the lessons of the past because when Russia invaded Ukraine, the richest, the best-off third of households got more than a third of the support. That makes no sense at all."

When asked if support could go beyond people who receive benefits, Reeves said: "We're looking at ways in which we can support people based on their household income."

Read the full story here

Image source, Reuters

We're expecting to hear from Prime Minister Keir Starmer later this morning. He'll be providing an update on the latest situation in the Middle East and how the government is planning to support families amid the cost of living.

The ongoing war in Iran has fuelled concerns that energy bills may rise further and Starmer has previously pledged to "protect the British people at home and abroad".

The update follows the announcement that extra British troops and UK defence systems will be deployed to the Middle East for defensive action against Iranian attacks.

The prime minister said earlier this week that the UK is "not going to get dragged into this war" but would continue to defend its interests and allies in the region.

Katy Watson
Reporting from Doha

Overnight, US Central Command released a video showing its forces dropping what it called precision munitions on underground military targets deep inside Iran.

Israel says it attacked a factory which it says was involved in the production of chemical weapons. Iran says it was making medicines.

The Gulf continues to be targeted too, as Iran retaliaites – fuel depots at Kuwait’s International Airport were hit by drones, causing a huge fire.

Saudi Arabia said it had intercepted two drones, Bahrain was also attacked and a tanker off the coast of Qatar was hit by a missile.

Gulf leaders aren’t saying much right now – their main focus is on defending their territory – but countries in the region have made it clear they want an end to the war and an end to the uncertainty that comes with this conflict.

Ghoncheh Habibiazad
Senior reporter, BBC Persian

The head of Iranian Parliament's National Security Committee, Ebrahim Azizi, has used his X account to send a message to Donald Trump, telling him: "The Strait of Hormuz will certainly reopen, but not for you; it will be open for those who comply with the new laws of Iran."

Azizi has said the "47 years of hospitality are over forever", referring to the period since Iran’s 1979 Revolution.

Azizi added: "Trump has finally achieved his dream of 'regime change'—but in the region's maritime regime!"

Iran's National Security Committee has approved a plan to toll vessels crossing through the Strait of Hormuz, the semi-official Fars News Agency reported on Monday.

Israel's Minister of Defence has said a buffer zone will be set up inside southern Lebanon and that Israel will keep security control over a swathe of the territory, even after the end of the current war against the armed group Hezbollah.

Israel Katz said the area to be occupied would go up to the Litani River - about 30km from the border with Israel. The plan has drawn criticism from the UN, European nations and Canada - who called it "a violation of territorial sovereignty".

Katz said more than 600,000 displaced Lebanese residents would be "completely prohibited" from returning to that area until the safety of residents of northern Israel was guaranteed. He added that all the houses in Lebanese villages near the Israeli border would be demolished, "according to the model of Rafah and Beit Hanoun in Gaza".

The BBC's Hugo Bachega in Beirut told the Global News Podcast, external what that could mean for Lebanon.

Osmond Chia
Business reporter

The price of Brent crude oil to be delivered in May rose by a record 64% in March - the highest monthly gain since the Gulf war in 1990.

The global benchmark for oil is a contract to buy a barrel of Brent crude one month in the future. When this price rises, it typically pushes up fuel prices too as oil is a key component in its production.

On Wednesday, the price of Brent for June delivery was trading 1.2% higher to $105.36 (£79.61).

Brent's previous highest monthly gain was in 1990 during Iraq's invasion of Kuwait, which disrupted the global supply of energy and sparked fears of a broader Middle East conflict, said Alberto Bellorin from InterCapital Energy.

These conditions mirror those seen in the ongoing conflict with Iran, which has driven up oil prices as markets take account for the heightened geopolitical risk, he said.

Oil prices are likely to continue to rise if shipping flows remain disrupted and if the conflict does not ease, said Goh Jing Rong from the Singapore Management University.

Meanwhile, Asian stock markets jumped this morning after President Donald Trump said the US will leave Iran in "two to three weeks".

Japan's Nikkei 225 index gained by 4%, while the Kospi in South Korea rose by more than 6%.

Read more here.

Image source, Getty Images

A tanker has been hit by an "unknown projectile" off the coast of Qatar's capital of Doha, according to the UK Maritime Trade Operations.

The agency says the vessel was struck "on the port side causing damage to hull above the water line", but all crew members were reported as safe.

It adds that authorities are investigating the incident and there is "no environmental impact" from the incident.

The attack comes a day after a tanker transporting two million barrels of oil from Kuwait and Saudi Arabia was hit by an Iranian drone strike while it was docked off the coast of Dubai.

A fire broke out and was later extinguished, with all crew members safe and uninjured, according to local authorities.

Laura Bicker
China correspondent

Image source, Reuters

China and Pakistan have presented a five-point plan to try to end the war in Iran which includes an immediate ceasefire and the reopening of the Strait of Hormuz.

The initiative was drafted after Pakistan’s foreign minister flew to Beijing to ask for Chinese support for the country’s efforts to negotiate an end to the war.

China’s Foreign Ministry said the two were making “new efforts towards advocating for peace”.

China’s response to the war in Iran has so far been quite muted. Beijing has a stockpile of oil and is more insulated than many other Asian countries from shortages. But there are already fears that China’s industrial heartland which forms the factory of the world will be impacted long term if this crisis continues.

The war in Iran jeopardises something President Xi covets - stability. Beijing needs a stable global economy if it is to continue growing and exporting goods.

Now, a month into the conflict, with petrol prices continuing to climb, the Chinese government is stepping up efforts to push for a ceasefire.

The Chinese government has tried the role of peacemaker in the Middle East before, with limited success. In 2023 it brokered a deal between Saudi Arabia and Iran which did result in a resumption of diplomatic ties. A year later it hosted leaders from 14 Palestinian factions which resulted in a national unity government.

There are few signs anyone is responding to the plan for now, but pushing forward this initiative allows President Xi to play the role of neutral broker and peacemaker - and once again stand in contrast to the leader of the other major superpower.