Jet fuel prices are rising. That could make summer flights more expensive
Airline ticket prices are starting to climb as carriers respond to rising jet fuel costs tied to the war in Iran. Cathay Pacific, Air France-KLM and a handful of other carriers already have raised their fares or added fuel surcharges. United Airlines CEO Scott Kirby has warned that higher ticket prices will “probably start quickly.” Experts say it’s not a question of if airfares rise, but when and by how much — especially on long-haul international routes. The security director of a global risk management company advises travelers to book early, set fare alerts and use frequent flyer miles or credit card points instead of holding out for a perfect deal.
Trump seeks to close $1.6 trillion revenue gap with raft of new tariffs
WASHINGTON (AP) — The Trump administration this week stepped up its ambitious effort to replace about $1.6 trillion in lost tariff revenue that was eliminated by the Supreme Court’s decision to strike down a range of the president’s import taxes. Recovering that lost revenue, which the White House was counting on to help offset the steep, multi-trillion dollar cost of its tax cuts, is possible but will be challenging, experts say. The administration has to use different legal provisions to impose new duties, and those provisions require longer, complex processes that U.S. companies can use to seek exemptions. It could be months or more before it is clear how much revenue the replacement tariffs will yield.
Greek oil tanker damaged in suspected Black Sea drone attack as wars disrupt global shipping
ATHENS, Greece (AP) — A Greek oil tanker was damaged in a suspected drone attack in the Black Sea while approaching the Russian port of Novorossiysk. Greek officials said the Maran Homer, chartered by Chevron, sustained material damage in the attack Saturday but remained seaworthy and the 24 crew members were unharmed. The tanker was struck before loading Kazakh oil. Greek Maritime Affairs Minister Vassilis Kikilias said the attack could be linked to a recent decision by the United States to ease sanctions on Russian oil exports. Commercial shipping is facing increased risks due to the wars in Ukraine and Iran.
What to know about the Strait of Hormuz, a key passageway essential for global energy supply
DUBAI, United Arab Emirates (AP) — The Strait of Hormuz is a small strip of water connecting the Persian Gulf to the world’s oceans, and it has become a big problem for the global economy. On a typical day, ships carrying about a fifth of the world’s oil sail out of the Gulf through the narrow passageway. But the war with Iran means it’s effectively closed. The snarls have sent oil prices above $100 per barrel and threatened a surge of painful inflation for the global economy if the blockages last a long time. Some analysts say oil prices could quickly jump to $150 per barrel if the strait remains closed
Judge quashes subpoenas in Justice Department's investigation of Fed chair Jerome Powell
WASHINGTON (AP) — A federal judge on Friday quashed Justice Department subpoenas issued to the Federal Reserve in January, a severe blow to an investigation that has already attracted strong criticism on Capitol Hill. Judge James Boasberg said that a “mountain of evidence suggests” that the purpose of the subpoenas was simply to pressure the Fed to cut its key interest rate, as President Donald Trump has repeatedly demanded. Fed Chair Jerome Powell revealed the investigation Jan. 11, prompting Senator Thom Tillis, a North Carolina Republican to block consideration of Trump’s pick to replace Powell as Fed chair when his term expires May. 15.
Tehran claims the US attacked it from the UAE as Iran war enters its third week
DUBAI, United Arab Emirates (AP) — Iran has warned people to evacuate three major ports in the United Arab Emirates, including the busiest in the Middle East, as its war with the U.S. and Israel enters its third week. Tehran's warning Saturday was its first open threat to a neighboring country's non-U.S. assets. It said the U.S. had attacked a Kharg Island, crucial to Iran's oil sector, from the UAE. President Donald Trump has said the U.S. destroyed military sites on Kharg Island and warned that its oil infrastructure could be next. Trump said he hopes other countries send warships to keep the Strait of Hormuz “open and safe."
Rwanda threatens to withdraw its counterinsurgency troops from Mozambique
KAMPALA, Uganda (AP) — Rwanda's foreign minister says the country's government will withdraw its counterinsurgency troops from Mozambique if the mission’s foreign backers don't maintain sustainable funding. Foreign Affairs Minister Olivier Nduhungirehe said in an X post on Saturday that Rwandan troops were “being constantly questioned, vilified, criticized, blamed or sanctioned by the very countries that benefit from our intervention in Mozambique.” The U.S. State Department imposed visa restrictions last week on “several senior Rwandan officials for fueling instability” in eastern Congo. It intensified pressure on the East African country after sanctions that targeted Rwanda’s military.
Protest in central Cuba at local communist headquarters ends in 5 arrests
HAVANA (AP) — A group of residents of a city in central Cuba have taken to the streets and partially destroyed the local headquarters of the ruling communist party. Authorities said that five people were arrested in Moron in a demonstration on Saturday that was linked to the island’s energy supply issues and access to food. Cuba's government said through official media that “vandalism acts” were directed at the building while a smaller group also threw stones and set furniture on fire in the reception area. Videos published on social media showed that a drugstore and a store were also affected.
Anti-war protests in Italy and Spain as high-stakes referendum on Italian judges looms
ROME (AP) — Thousands of people have protested in Italy against wars in the Middle East and proposed judicial reforms by Italian Prime Minister Giorgia Meloni. Demonstrators gathered in Rome on Saturday chanting against Meloni’s government as a March 22–23 referendum on changes to Italy’s judicial system becomes a key political test before next year’s election. Meloni said that the reforms would speed up courts and restore trust. But critics say that the changes will threaten judicial independence. Anti-war protests have grown across Europe following U.S. and Israeli airstrikes on Iran. Thousands joined protest rallies in Madrid and dozens of other cities in Spain.
