US-Israel-Iran War Live News Updates: US Inflation Projected To Reach 4.2% This Year; Iran Earning $139 Million A Day From Oil

Locals of Ladakh's Kargil city donate money, jewellery, utensils, and other items in support of Iran against the US-Israel attacks on the country.

Iran is raking it in amidst the war, with its crude oil selling at a slimmer discount to Brent, the international benchmark, which has shot up above $100 a barrel. Despite the conflict, Iran's exports remain steady at 1.6 million barrels a day, with ships loading at Kharg Island and exiting the Persian Gulf through the Strait of Hormuz. In fact, Tehran is earning around $139 million daily from its Iranian Light crude blend sales, up from $115 million in February.

This windfall is largely due to Iran being one of the few countries still able to ship crude through the Strait of Hormuz, while other Gulf producers face disruptions. China is a major buyer, snapping up Iran's flagship crude grade at a narrow discount.

(Source: NDTV)

The Iran war's disruption of oil exports from the Middle East will substantially boost consumer prices while also slowing growth in the United States and many other developed countries, the Paris-based Organisation for Economic Cooperation and Development said.

The OECD expects US inflation to jump to an annual average of 4.2% this year, from about 2.6% in 2025. The increase will manly be driven by spiking gas costs, but fertiliser exports have also been interrupted and could raise food prices in coming months, the OECD said.

Growth is expected to slip to 2% this year from 2.1% in 2025, then decline further next year to 1.7%. In 20 of the largest countries, referred to as the Group of 20, which includes Japan, Europe, and large emerging economies such as Brazil, inflation is forecast to rise to 4% from 3.4%.
 

(Source: AP)

As Israel's leaders hint at a long-term occupation of southern Lebanon modelled on the devastating conquest of much of Gaza, many Lebanese who fled their homes are in limbo. Some fear they may never return. Elias Konsol and his neighbors fled the Christian border village of Alma al-Shaab with UN peacekeepers' help. He was reunited with his mother, who cried in his arms, at a church near Beirut where funeral services were being held for a resident killed in an Israeli strike. Konsol said there were no weapons or Hezbollah fighters in his village, but it was forced to evacuate anyway. "We no longer know our fate," he said. "We don't know if we will see our homes and village again."

(Souce: AP)

India reduces special additional excise duty on petrol to Rs 3 per litre from Rs 13 per litre.

India reduces special additional excise duty on diesel to Nil from Rs 10 per litre.

(Source: NDTV)
 

Israel's military said early on Friday that it had conducted a wave of strikes “in the heart of Tehran”.

Smoke was seen billowing in the Beirut skyline early Friday. There was no advance warning of a strike from Israel's military, which didn't immediately provide information.

IRGC Navy Commander Alireza Tangsiri eliminated in a precise IDF strike in Bandar Abbas

Iran sent a letter to the United Nations over claims that the country's foreign minister and parliament speaker had been "targets for assassination." The letter, dated Thursday and signed by Ambassador Amir Saeid Iravani, focused on media reports that Foreign Minister Abbas Araghchi and Speaker Mohammad Bagher Qalibaf both had been spared for the time being by Israel and the US as negotiations to reach a ceasefire in the war go on.

"The reports indicate the existence of an operational framework contemplating the assassination of the highest-ranking political officials of the Islamic Republic of Iran," the letter reads. It added, "The conditional nature of the purported suspension' further underscores that the threat remains real, deliberate and ongoing."

The letter called any such programme "state-sponsored terrorism." Qalibaf has been considered as a possible negotiating partner to the US, while Araghchi has continued diplomatic outreach.

Iranian communications to the United Nations maritime authority and the experience of ships transiting the Strait suggest the creation of something akin to a "toll booth." Ships must enter Iranian waters and be vetted by Iran's Islamic Revolutionary Guards Corps. At least two vessels have paid for passage.

Iran has also started charging transit fees on some commercial vessels passing through the Strait of Hormuz, adding to uncertainty in global markets.

Thousands more US troops neared the region, Israel poured more troops into southern Lebanon to fight the Iran-backed militant group Hezbollah, and Tehran tightened its grip on the crucial Strait of Hormuz.

Sirens over Israel warned of barrages of incoming Iranian missiles, and Gulf nations worked to intercept fire. Heavy strikes were reported in Iran's capital and other cities.

US Secretary of State Marco Rubio slammed the imbalance in the US's relationship with NATO. He pointed out that the US has consistently provided support in various conflicts, but when the US needed help, NATO allies didn't come through as expected.

"The US has been constantly asked to help in wars, and we have; But when we had a need, we didn’t receive positive responses from NATO," US Secretary of State Marco Rubio said.

Hello and welcome. Here are latest news of the day from the US-Israel-Iran War

US President Donald Trump has extended his deadline for Iran to open the Strait of Hormuz to April 6. He said he will hold off on bombing Iran's energy plants. The update comes even as earlier in the day, the two countries appeared at an impasse, hardening their positions over ceasefire talks.