Lufthansa pilots have commenced a two-day strike, resulting in the cancellation of hundreds of flights across its main operations and subsidiaries. The industrial action began shortly after midnight and is scheduled to conclude late Tuesday.

• Hundreds of Lufthansa flights cancelled on Monday.
• The strike is organized by the German pilots' union, Vereinigung Cockpit (VC).
• Disagreements over company pension provisions and pay, particularly at Lufthansa CityLine, are the cause of the dispute.

Oil prices surged back above $100 a barrel after US-Iranian peace talks failed and the US announced a blockade of Iranian ports.

• Brent crude rose 7.3% to $102.30 and West Texas Intermediate was up 8.7% to $104.94.
• President Donald Trump announced the blockade, to be enforced by US Central Command (Centcom).
• The blockade targets vessels entering or leaving Iranian ports, impacting global energy markets and Asian stock indexes.

The Airports Council International (ACI) Europe has warned of potential jet fuel shortages across the European Union within the next three weeks if the Strait of Hormuz remains closed.

• The Gulf region supplies approximately 50% of Europe's aviation fuel imports.
• ACI Europe's director-general, Olivier Jankovec, has urged the EU to intervene, stating that relying on market forces alone is insufficient.
• The price of European jet fuel has already surged to an all-time high of $1,838 per tonne, significantly up from $831 before the conflict began.