UK cabinet minister Darren Jones warns of prolonged price rises, predicting consumers may face increased costs for over eight months after the Iran conflict. The government is preparing for supply chain disruptions, with further measures discussed in a cabinet meeting chaired by Sir Keir Starmer.

Iran has declared the Strait of Hormuz “completely open” for all commercial vessels during the ongoing ceasefire, as announced by foreign minister Seyed Abbas Aragchi. This decision follows the recent easing of tensions and aims to stabilise global energy supplies. Further actions are anticipated.