Evening Briefing: Friday 14 August 2026
- Petrol: Oil climbed to around $88 a barrel, its best week in months, as the standoff over the Strait of Hormuz deepened after the tanker attack. With the strait still shut over the weekend, pump prices are likely to stay high or rise.
- Mortgages: UK borrowing costs jumped, with the 10-year gilt yield back above 5 per cent, on renewed inflation and debt concerns. Fixed mortgage rates are likely to stay high or edge up.
- Cars: The government is set to water down electric-vehicle sales targets after pressure from carmakers — a shift that could reshape car prices and the pace of the switch to electric.
US Threatens Indefinite Blockade of Iran After Tanker Attack
The standoff over the Strait of Hormuz escalated sharply, with the United States saying it could sustain an “indefinite” naval blockade of Iran after the UAE accused Tehran of a drone attack on two of its tankers. Saudi Arabia announced a…
Russia Rejects Ukraine's Offer of a Black Sea Truce
Russia rejected Ukraine’s proposal for a mutual halt to attacks on civilian shipping in the Black Sea, dismissing the offer within hours of it being made. Kyiv had framed the truce as a way to protect global food supplies after its strike…
Colombia Earthquake Toll Passes 281 as Hope Fades
The death toll from the earthquake in western Colombia has risen to at least 281, with reports it is climbing past 285 and hundreds still missing, as the search moves past the 72-hour survival window. More than 12,000 homes are reported de…
WHO Says Congo Ebola on Track to Be Deadliest Ever
The World Health Organization warned the Ebola outbreak in the Democratic Republic of Congo is on track to become the deadliest on record and is spreading faster than any before it, having now reached a sixth province. More than 2,000 peop…
Poland Foils Russian Plot to Kill Man on NATO Soil
Poland’s prime minister, Donald Tusk, said security services had thwarted a Russian-orchestrated plot to assassinate a Ukrainian-American citizen in Warsaw, with one man detained. It is reportedly the first alleged Russian attempt to kill…
Army Called In and Barbecues Banned as Wildfires Spread
Prime Minister Andy Burnham declared Britain a “tinderbox” and announced an emergency response as wildfires spread during the extreme heat, calling in the army to help fight the fires and imposing a temporary ban on the sale of disposable…
Government Moves to Water Down Electric-Car Targets
The government is moving to soften the UK’s electric-vehicle sales targets, launching a consultation on relaxing the Zero Emission Vehicle mandate after lobbying from carmakers. Charging-infrastructure firms warned they could pull billions…
Farage Holds Clacton as Standards Inquiry Reopens
Nigel Farage was re-elected as MP for Clacton, winning comfortably in a by-election the main parties declined to contest, with the novelty candidate Count Binface taking over a quarter of the vote. Mr Farage did not attend the count, citin…
Government May Pay Higher Rents to Spread Asylum Housing
The government could pay above-market rents to disperse asylum accommodation more widely across the country, including into wealthier areas, according to reports. It is a fresh cost angle on a dispersal plan that has already drawn a backla…
Pressure Builds Over Tax Rises Before October Budget
Pressure is mounting over possible tax rises in the autumn budget, due on 28 October, with the Conservatives demanding the government rule out increases. Confirmation this week that the economy grew just 0.4 per cent has sharpened the deba…