Why budget carriers are lowering fares

A gas shipment made it through the Strait of Hormuz as European oil majors cash in billions from the US-Israeli war on Iran, airlines across Europe are cutting prices for summer flights despite a potential jet fuel shortage, and bond giant Pimco says the war could prompt the Federal Reserve to raise rates. Plus, the FT’s Lucy Fisher explains what to expect from a make-or-break speech by UK prime minister Keir Starmer today. 

Mentioned in this podcast:

Qatari gas shipment clears Strait of Hormuz after Pakistan-Iran talks

Euro oil majors make billions off war  

Coal shipments jump as countries seek alternatives to disrupted gas supplies

Airlines cut prices to entice holiday bookers worried about jet fuel

Iran war could prompt Federal Reserve to raise rates, Pimco says

Starmer faces fight for survival as calls to resign escalate

Britain’s elections in maps and charts

Political Fix podcast

Note: The FT does not use generative AI to voice its podcasts 

Today’s FT News Briefing was hosted by Victoria Craig, and produced by Katya Kumkova, Marc Filippino and Saffeya Ahmed. Our show was mixed by Alex Higgins. Additional help from Peter Barber. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music. 

Read a transcript of this episode on FT.com

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