FT News Briefing Starmer fights for political survival
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May 11, 2026 
Peter Campbell, a transport industry reporter with expertise in airlines and fuel supply, and Lucy Fisher, a Whitehall correspondent known for political analysis, discuss soaring energy wins for oil majors, a Qatari gas tanker clearing the Strait of Hormuz, airlines cutting fares amid jet-fuel worries, and Keir Starmer’s make-or-break speech as pressure rises on his leadership.
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European Oil Majors Cash In From Gulf Turmoil
- Oil giants have taken advantage of war-driven volatility to earn large windfalls.
- Analysts estimate Shell, BP and TotalEnergies raked in about $4.75 billion as prices swung after the U.S.-Israeli war on Iran.
Coal Imports Surge As Gas Flows Disrupt
- Asian countries are pivoting to coal as gas supply through the Strait of Hormuz is disrupted.
- May coal imports are predicted to be the third highest monthly figure on record as nations seek alternatives.
Budget Airlines Cut Short Haul Fares To Spur Bookings
- Peter Campbell describes budget carriers cutting short-haul fares to spur bookings amid consumer worry about summer flights.
- He cites routes to Italy and Spain where airlines dropped prices to overcome booking hesitancy tied to jet fuel supply fears.