Pope Leo XIV used a prayer vigil at St Peter's Basilica to condemn the 'delusion of omnipotence' fuelling the US-Iran conflict, marking his sharpest rebuke yet in an escalating series of papal interventions calling for peace.
The Strait of Hormuz crisis threatens far more than oil supplies. From fertilisers and helium to generic medicines and semiconductors, a near-total shipping shutdown is sending shockwaves through global supply chains.
The OECD has cut UK growth to just 0.7% and hiked inflation forecasts to 4.0%, making Britain the worst-hit major economy from the Iran conflict thanks to its heavy reliance on energy imports.
Larry Fink's reported warning about $150 oil triggering a global recession sits alongside his surprisingly optimistic public stance. With Brent crude already above $119 and the Strait of Hormuz disrupted, the gap between concern and catastrophe is shrinking fast.
The Philippines has become the first country to formally declare a national energy emergency over the Iran conflict, signing Executive Order 110 as the Strait of Hormuz closure threatens a nation reliant on the Middle East for up to 98 per cent of its oil.
PM Keir Starmer warned MPs against assuming the Iran war will end quickly, stressing it is 'not our war' while the UK quietly ramps up its military posture in the region.
Friday's papers capture a world of contrasts: a devastating energy crisis triggered by Iranian strikes on Gulf infrastructure sends oil prices soaring, while King Charles inaugurates the world's longest coastal walking path.