Keir Starmer’s call was Donald Trump has been described as “not a rosy affair” amid a major fracture in the special relationship.
Yesterday, a Downing Street spokeswoman confirmed the two leaders had spoken about the conflict with Iran.
Their accord had come amid a series of brutal barbs issued towards the Prime Minister by President Trump, describing the UK as “our once great ally”.
The spat was sparked by Sir Keir’s reticence to support the US and their strikes on the Islamic regime.
On their call, a Downing Street spokeswoman said: "The leaders began by discussing the latest situation in the Middle East and the military cooperation between the UK and US through the use of RAF bases in support of the collective self-defence of partners in the region.""
The Prime Minister offered his "heartfelt condolences" to President Trump and the American people over the deaths of seven American personnel in the conflict.
"They looked forward to speaking again soon."
However, it has now emerged that their phone conversation was “not a rosy affair”, per The Sun.
Government warned to deal with energy crisis 'immediatley'
The Government’s ability to shield billpayers from energy price rises will “depend on what happens over the next period” as conflict in the Middle East progresses, a minister has warned.
Lord Whitehead said the Government has got to deal with some problems “pretty immediately”, including the rising price of heating oil.
He told the Lords: “We have in place obviously the energy price cap, which should mean that for three months, at least, we can say that customers for electricity and gas will have a cheaper price for their gas and electricity than has been the case over the most recent period, so that’s protected to that extent.
“Heating oil is not so protected. We’ve seen considerable spikes in how that works, and that’s associated, by the way, with jet fuel as well, because they’re essentially the same thing – kerosene – and we have seen considerable spikes in that as well.”
Lord Whitehead later added: “All this does depend on what happens over the next period, with the progress of the war, whether the Hormuz Strait will be opened or at least put into a position where oil and gas can get through the Hormuz Strait, and whether we can reasonably reliably start talking about a reliable supply for world energy coming through in a way that it’s not at the moment because this crisis – mark my words – is not about supply.”
Elon Musk's X challenged by MP's over 'appalling and offensive' posts
MP's have challenged Elon Musk's social media platform X over “appalling and offensive” posts generated by its AI tool.
Over the weekend, Grok — the platform’s artificial intelligence chatbot — was found to have falsely blamed Liverpool fans for the 1989 Hillsborough disaster, in which 97 supporters died, while also using derogatory language about the city.
During a Foreign Affairs Select Committee hearing in Westminster on Monday, X’s head of global government affairs, Wifredo Fernández, was questioned about the posts.
Emily Thornberry, the committee’s chair, described them as “the most appalling and offensive messages to Hillsborough victims” and asked what action the company had taken.
Mr Fernández told MPs: “I understand there were some unacceptable responses.
"We actioned those posts in line with our policies, and our engineering teams are investigating the issue to ensure it doesn’t happen again.”
Government has 'duty to act' with new 'anti-Muslim hostility' defination
Communities Secretary Steve Reed said the Government has a “duty to act” as he announced the Government’s new definition of “anti-Muslim hostility”.
Mr Reed told MPs: “We will not allow hatred to distort the lives and life chances of those who are targeted.
“Right now Muslim communities are facing shocking levels of abuse. Anti-Muslim hate crimes are at record levels, and they now make up almost half of all religious hate crimes, way out of proportion to the size of our Muslim population.
“Mosques, schools and businesses have been attacked. Women harassed. Families are living in fear. We have a duty to act, but you can’t tackle a problem if you can’t describe it. So today we are adopting a non-statutory definition of anti-Muslim hostility.”
He said it would give a “clear explanation” of “unacceptable prejudice, discrimination and hatred” towards Muslims.
He added: “The definition safeguards our fundamental right to freedom of speech about religion in general or any religion in particular and ensures the concerns raised in the public interest are protected.”
Government accused of 'undermining Britain's international standing'
The Government has been accused of “completely undermining Britain’s international standing” with the delay in deploying HMS Dragon to the Mediterranean, Shadow Defence Secretary James Cartlidge has said.
“Despite the Secretary of State just saying, and I quote, ‘Since January he has been moving military assets to the region’, there isn’t a single Royal Navy warship present, and our Type 45 HMS Dragon hasn’t even set sail.”
He added: “Last week the Cypriot foreign minister said, and I quote, ‘There are questions about the future of the UK’s military bases on the island’.
“Isn’t the reality that Greece, France and Spain are all sending ships and that Labour’s failure to deploy the Royal Navy to the eastern Mediterranean has completely undermined our international standing, not just in the eyes of our many allies in the Middle East, but also in the eyes of those who can now exploit such weakness?”
'Airmchair genreal!' Top Tory blasted by Defence Secretary
Defence Secretary John Healey has called his opposite number, Shadow Defence Secretary James Cartlidge, an “armchair general”.
Evacuations of Britons will 'not stop until our people are safe'
Defence Secretary John Healey has confirmed that 37,000 British nationals have been evacuated since the start of the crisis in the Middle East and “we will not stop until our people are safe”.
He said: “Many of us as MPs have constituents with friends and family that are caught in the region, worried for the safety of their loved ones, and the Foreign Secretary and the FCDO (Foreign, Commonwealth & Development Office) teams are working as fast as possible to get our people out of the region.
“Three chartered flights have now taken off, with more to come this week.
“More than 170,000 people have registered their presence, which has allowed us to get them information and support and advice that they need.
“More than 37,000 British nationals have been evacuated since the start of the crisis response, and as the Prime Minister said last week, we will not stop until our people are safe.”
Tories accuse Labour of 'extraordinary double standards' over US stance
Shadow Defence Secretary James Cartlidge has accused the Labour Government of "extraordinary double standards" over its stance on the US amid the conflict with Iran.
Mr Cartlidge said that: "We know that three US Aegis-class destroyers, their equivalent of the type, 45 have for days, been based in the Mediterranean, providing Cyprus with defence against ballistic missiles.
"Doesn't this mean that until the Prime Minister's U-turn a week ago, this Labour government were displaying the most extraordinary double standards to our closest military ally?
"On the one hand, denying the US the use of our bases, whilst on the other relying on them to protect ours."
HMS Dragon will 'set sail in the next couple of days'
HMS Dragon will sail towards its mission to protect RAF Akrotiri in Cyprus, the Defence Secretary John Healy has said.
"I can confirm today the Dragon will set sail in the next couple of days," Mr Healy said.
"I want to personally thank all those who are working tirelessly some 22 hours a day to get that ship ready."
British jets shot down two drones last night, Defence Secretary confirms
British jets shot down two drones last night, Defence Secretary John Healy has confirmed.
"The UK is now conducting defensive air sorties in support of the UAE.
"Typhoons successfully took out two drones, one over Jordan, the second heading to Bahrain."
Defence Secretary insists on 'legal basis' for Iran response
The Defence Secretary has insisted the Government must have a 'legal basis' for its actions in response to Iran.
"We must have a legal basis for our decisions that allows ministers to make sound choices.
"It allows our military to operate with the fullest confidence and our UK action is grounded in these principles, to protect British people, protect British bases, to protect British allies."
'Iran threatens us all' says Defence Secretary
Defence Secretary John Healy has said "Iran threatens us all" as he addressed the Commons on the crisis in the Middle East.
To that end, he confirmed British assets in the region had made a "real difference" to the crisis.
“Since January, we’ve moved significant military assets into the region ahead of those first US-Israeli strikes, and those preparations made a real difference.
“It meant we’ve conducted defensive military operations from day one, our F-35s destroying Iranian drones over Jordan, our Typhoons shooting down targets heading to Qatar, our counter-drone units defeating further attacks against coalition bases in Iraq.
“We acted early to protect British people and British interests and to support our allies.”
Rachel Reeves accuses Conservatives of 'scaremongering'
Chancellor Rachel Reeves has urged shadow chancellor Sir Mel Stride not to “scaremonger” about energy bills.
Responding to her opposite number, she hit out at “inaction and delay from the Conservatives when they were in government for 14 years".
“This Labour Government is backing the industries of the future, such as carbon capture and storage, funded at the spending review, not funded by the party opposite, because we back Britain’s energy security.
“And through the National Wealth Fund, we are investing in floating offshore wind and in our docks, funded in the spending review, not funded by the party opposite, because we back Britain’s energy security.
“On energy bills, I would urge (Sir Mel Stride) not to scaremonger. The £150 cut to energy bills that I announced in the Budget will continue, as confirmed by Ofgem. We removed the failed Eco scheme, and we removed a number of levies off of bills.
“On heating oil, those conversations will happen this week, and we are working closely with MPs, with colleagues in Northern Ireland to make sure that things are working well.”
Shadow Chancellor offers Labour Tory help in cutting welfare spending
Sir Mel Stride has offered the Government help from the Conservatives to pass welfare cuts.
Responding to Rachel Reeves's emergency statement, he bid his opposite number to "show some backbone" and present reforms to lawmakers.
“Let me reiterate our offer to support the Government if, even at this late stage, and particularly given the gravity of the current global outlook, they do the right thing," the Shadow Chancellor said.
"Show some backbone and come forward with a proper plan to cut welfare spending and strengthen our economy so we can properly support hardworking families.”
Mel Stride blasts Chancellor for 'gross mismanagement' of the economy
Shadow chancellor Sir Mel Stride claimed that Chancellor Rachel Reeves’ decisions have left the UK “more vulnerable” to the economic impacts of the conflict in the Middle East.
Sir Mel said: “Her gross mismanagement has left us far more vulnerable than would otherwise have been the case.
“Inflation was bang on target when we left office, but thanks to (the Chancellor’s) choices, it rose back up to almost 4% last year, the highest in the G7 – and inflation remains elevated. That is far from ideal, given the threat of a significant further spike in energy prices.
“And of course, extraordinarily, the Chancellor has just now reconfirmed that the Government will press ahead with a rise in fuel duty later this year.
“And borrowing is running higher than was forecast when the Government took office. We are spending well over £100 billion a year on debt interest alone. That leaves us far more vulnerable to rising borrowing costs.
“The Government, of course, is continuing to impose ruinously high taxes on our oil and gas sector and choosing to rely on imports, instead of maximising our own domestic energy supply. That is proving to be an incredibly short-sighted approach, but as (the Chancellor) has just told us, there will be no change in direction. That is the wrong choice.”
Chancellor announces additional defence funding for Middle East operations
Rachel Reeves has said the Treasury will fund the net additional costs of operations in the Middle East, not the Ministry of Defence.
“I am proud to be the Chancellor that is delivering the biggest uplift in defence spending since the end of the Cold War, and I am committed to giving our military the resources that they need.
“That is why I can confirm today that I approved access for the Ministry of Defence to the special reserve to deploy additional capabilities in the Middle East, meaning that no net additional costs of these operations will be funded by the MoD, but instead will be funded by the Treasury.”
Rachel Reeves 'ready' to release oil reserves to ease energy crisis
Rachel Reeves has said she “stands ready” to support a coordinated release of oil reserves held by the International Energy Agency.
The Chancellor updated MPs on her plans after speaking with finance ministers from the G7 earlier on Monday.
“I want to ensure the country that the fundamentals of Britain’s economy are strong. Every step that I have taken since the election has built our national resilience.
“Stability in the public finances, investment in infrastructure in both defence and energy security, and reform to our economy.”
Chancellor admits Iran war makes inflation 'likely'
Rachel Reeves has admitted the conflict in Iran is “likely to put upward pressure on inflation” over the coming months.
“The economic impact of the situation in the Middle East will depend, of course, on its severity and its duration. The movements that we have already seen are likely to put upward pressure on inflation in the coming months.”
"We don't yet know how long the conflict will last or what further action will be required, but it is my duty to be responsive in an uncertain world and responsible in the national interest. to protect the public finances and help families with the cost of living," she promised.
"I am clear eyed about my response to the current situation. My economic approach will both be responsive to a changing world and responsible in the national interest.
Rachel Reeves pledges to 'back Britain's energy security' amid Middle East crisis
Chancellor Rachel Reeves said that the Labour Government is “backing Britain’s energy security” as prices skyrocket over the crisis in the Middle East.
Foreign Office minister says new Ayatollah 'suggests no change in direction from Iran'
Mojtaba Khamenei’s appointment as Iran’s ruler “suggests no change in direction from Iran”, a Foreign Office minister has warned.
Asked to respond to Ali Khamenei’s son’s appointment, Baroness Chapman of Darlington told the Lords: “Keeping people safe and defending national security is the Government’s first duty and we continually assess potential threats to the United Kingdom.
“We continue to have discussions at every level with the US and with others.
“American planes operating out of British bases and British jets shooting down drones and missiles to protect American lives is the ‘special relationship’ in action.
“The appointment of Mojtaba Khamenei as the new supreme leader suggests no change in direction from Iran.”
Baroness Chapman serves as Minister of State for International Development and Africa.
First rescue flight from Dubai set to leave today
A Government rescue flight is to bring Britons back from Dubai, the first from the United Arab Emirates (UAE).
The Dubai operation comes after a third rescue flight from Oman landed in the UK early on Monday, with more than 200 British nationals on board.
About 180 British nationals are expected to leave on the first charter flight out of Dubai, with a further two flights expected this week, for £500 a seat.
The majority of people leaving the Middle East after the crisis triggered by the US-Israeli strikes on Iran, and Tehran’s retaliatory attacks, have done so by commercial flights.
About 40 flights to the UK from the region were expected on Monday, a record since the crisis began, following 29 on Sunday.
More than 37,000 British nationals have returned to the UK from the Middle East in recent days. Some 172,000 British nationals have registered their presence in the region.
Conservatives confirm they will support the Government on immigration reform
| GB NEWS
The Conservatives have confirmed they would support changes to indefinite leave to remain for migrants in the UK.
ILR allows someone to live, work and study in the country permanently without time limits.
People with ILR are no longer subject to immigration control, can usually access public funds, and can later apply for British citizenship. Labour is hoping to increase the time to earn the status from five years to ten years for most migrants.
However, Labour backbenchers have recoiled at the policy and have vowed to vote against it.
Speaking to the Commons, Shadow Home Secretary Chris Philp said: “When we proposed a 10-year path, the government voted against it, but I'm delighted they've now done yet another U-turn and adopted our policy.
“Now, while we don't agree with every detail in their plans, we do agree with the substance, but I'm sorry to hear some of the minister's own MPs are apparently unconvinced.
“Given the Government appears to need our votes to pass these ILR changes, we will support them.”
Rachel Reeves ‘closely monitoring situation’ in energy prices with G7 allies
Rachel Reeves is “closely monitoring the situation" over energy prices with her opposite numbers in the G7,
The ministers said: “We, the G7 finance ministers, held a virtual meeting on March 9, together with the Heads of the International Monetary Fund (IMF), World Bank Group (WBG), Organisation for Economic Co-operation and Development (OECD), and International Energy Agency (IEA).
“We discussed the current conflict in the Middle East, its impact for regional stability, global economic conditions, and financial markets, and the importance of secure trading routes.
“We will continue to closely monitor the situation and developments in the energy markets and will meet as needed to exchange information and to coordinate within the G7 and with international partners.
“We stand ready to take necessary measures, including to support global supply of energy, such as stockpile release.”
The G7 consists of the United Kingdom, Canada, France, Germany, Italy, Japan, and the USA.
Kemi Badenoch backs Parliamentary vote on fuel duty
Kemi Badenoch said she would be bringing a vote in Parliament on Tuesday to “keep fuel duty low”.
Asked whether she supported the idea of a Liz Truss-style support package to help households and businesses with a surge in oil prices, she said: “Well, the first thing that the Prime Minister should do is stop Rachel Reeves’ silly changes to fuel duty.
“Last week, she had an opportunity in the spring statement to announce measures to help all of those families out there who are struggling with the cost of living.
“Instead, she spent the statement telling us what a fabulous job she was doing.
"So tomorrow, I’m going to be bringing a vote so that we can make sure that we keep fuel duty low and if I would expect Labour MPs and others to support that at a time when we’re expecting serious shocks to energy prices.”
Downing Street casts doubt on Middle East aircraft carrier deployment
Downing Street has steered away from suggestions that a British aircraft carrier, HMS Prince of Wales, is being readied to deploy to the Middle East.
The Prime Minister’s official spokesman said: “HMS Prince of Wales has always been on very high readiness.
“The MoD (Ministry of Defence) is increasing the preparedness of the carrier, reducing the time it would take to set sail for any deployment, but there is no decision taken to deploy her.”
Chancellor set to address MPs as Iran war sends oil costs soaring
Rachel Reeves is set to address MPs this afternoon after events in Iran sent oil costs soaring.
The Chancellor will speak in the House of Commons just hours after Sir Keir Starmer warned of a "likely" impact to the cost of living.
However, the Prime Minister stressed Britain's economy is in a stronger place compared to 2022.
No10 refuses to say if PM raised Iran criticism in call with Donald Trump
No10 has refused to say if Sir Keir Starmer raised Donald Trump's criticisms in their call last night.
"The Prime Minister was asked [about the call] this morning," a Downing Street spokesman said.
"He spoke about how it was important to emphasise we are working together every day and the importance of acting in the national interest. This has always been the prime minister's approach."
PICTURED: Rachel Reeves joins the G7 crunch meeting
PICTURED: Chancellor Rachel Reeves joins the G7 crunch call to discuss a coordinated release from strategic petroleum stockpiles managed by the International Energy Agency
'Axe the fuel tax' - the Conservatives call for vote on duty hike
The Tories are urging Chancellor Rachel Reeves to abandon plans to raise fuel duty later this year, due to the ongoing cost of living crisis.
Fuel duty has been frozen since 2011, with a temporary 5p-per--litre cut introduced in 2022, that is set to send in September.
Motorists would then face a series of increases, including a 1p rise in September followed by further hikes later in the year and next spring.
The Tories are hoping to put forward a motion to seek a vote in the Commons on the proposed fuel duty increase.
Shadow Chancellor, Mel Stride, wrote on X: "Hardworking people & families will pay the price."
"Today the Conservatives will demand a vote."
This call comes as brent crude oil hit almost $120 a barrel overnight, the highest its been since Russia's invasion of Ukraine in 2022.
Keir Starmer's relationship with Donald Trump 'is over', warns Nigel Farage
Sir Keir Starmer’s special relationship with Donald Trump "is over", Reform UK leader Nigel Farage has warned.
After meeting Mr Trump at Mar-a-Lago, the Reform UK leader said he saw “very little prospect of the relationship between Trump and Starmer improving”.
He added: “Even now, the British Prime Minister is calling for a negotiated settlement with the Iranians, provided they promise to give up nuclear weapons.
"Well, we did all this back in 2015. This relationship with Trump and Starmer is over.”
The Reform UK leader issued the warning as the Prime Minister scrambled to save his relationship with Mr Trump.
Sir Keir called the President last night in the first conversation between the two leaders in eight days.
Mr Trump had recently taken a swipe at Sir Keir on his social media platform Truth Social.
The US President, who described the UK as "our once Great Ally", said: “We don’t need people that join. Wars after we’ve already won!”
Sir Keir vague on how call with President Trump went yesterday
The Prime Minister failed to provide details on how the conversation with President Trump went on Sunday.
He said: "I had a telephone call with President Trump yesterday talking about the conflict in Iran and the region, and what we were doing together and that is important in terms of the ongoing discussion."
Despite the lack of detail, he emphasised that "the US and the UK are working together, every single day as they always have".
He added: "Decisions about what's in Britain's best interests are decisions for the Prime Minister of Britain and that's how I've approached all the questions and decisions I've had to make."
This comes after the Prime Minister has had a string of insults directed at him from President Trump on the UK's response (or lack of) to the conflict in the Middle East.
Mr Trump said last week that dealing with the Prime Minister made it clear he was "not Winston Churchill".
We 'must not let' division 'tear people apart' - Sir Keir urges warns of division during this time
The Prime Minister said that the conflict in the Middle East will be used by some to "divide communities in this country and tear people apart".
In a similar tone to his press conference last week, the Prime Minister reiterated that Britons stuck in the Middle East come from all backgrounds.
He said: "The last thing they want, or their families want, is anything trying to divide.
"This is a time when we need to come together as a country, stand behind our principles and our values and not let people divide us."
He continued by saying the Government is putting a particular focus in the Muslim and Jewish communities, as "that's where people seek to try and find divide".
The Prime Minister went further by saying one of his "biggest concerns" was there are "too many people in politics who want to set up grievances between different groups of people, to point fingers and divide, and say we can't be one country, we can't be one set of communities".
He added: "I totally disagree with that.
"I think one of the great things about this country is that we’re a diverse country and we prove that different people can live by and alongside each other, in tolerant way with our values."
'We've got some headroom' - the economy ready to handle external shocks, says Prime Minister
PICTURED: Sir Keir Starmer attempts to reassure the public over growing conflict in the Middle East
|GB NEWS
The Prime Minister has reassured the public in light of possible economic shocks due to the conflict in the Middle East.
He said referring to Russia's invasion of Ukraine: "It is important to remind ourselves, last time a conflict began to develop, the economy wasn't in a stable place, and inflation was fiver per cent and rising.
"We've got some headroom. Inflation is three per cent and going down".
This comes after the cost of brent crude oil nearing $120 a barrel overnight, hitting levels not seen since Russia's invasion of Ukraine.
35,000 people repatriated from Middle East so far, says Prime Minister
Sir Keir Starmer has confirmed the UK has repatriated 35,000 people from the Middle East so far.
He said there are currently around 300,000 people in the region - some living there, some taking holidays and some there due to layovers that were cancelled.
The Prime Minister said they're "all very concerned", but the UK Government is working with commercial airlines and the countries involved to organise more flights from Britons to get back home.
He said they are "working around the clock" to repatriate more people.
Prime Minister 'reassures' public on Middle East conflict
Speaking at a community centre in London, the Prime Minister has addressed the ongoing conflict in the Middle East and how it will impact the UK.
Firstly, he addressed how the UK is supporting the Gulf countries who have been dragged into the conflict.
He said: "We're working closely with the Gulf countries.
"We've got fighter jets in there and we've increased the capability there over the course of nine days".
He added that these states are our "allies" and he continues to speak to leaders in the region.
Nigel Farage invests in Bitcoin company led by Kwasi Kwarteng
Nigel Farage has taken a stake in a Bitcoin reserve business led by Kwasi Kwarteng, former Chancellor under Liz Truss.
This follows Reform UK's leader wanting to the UK to become a "global hub" for cryptocurrencies, with the party pledging last year they will cut taxes on cryptocurrencies and set up a Bitcoin reserve fund if elected.
He invested £215,000 into Stack BTC alongside Blockchain.com as part of an equity fundraise.
Mr Farage said: “I have long been one of the UK’s few political advocates for Bitcoin, recognising the role digital currencies will play in the future of business and finance.
“London and the UK has historically been the centre of world’s financial markets, and I believe that we can and should be a major global hub for the crypto industry.”
MPs to debate under-16s social media ban for first time today
| GETTY
Today, MPs will debate and vote on the Lord-backed ban on social media for under-16s.
As part of the Children's Wellbeing and Schools Bill, the proposal would create a default block for young people to access social media.
However, the Government has suggested wider-ranging powers instead of the amendment, such as social media curfews.
This comes after Australia banned social media for teenagers late last year.
'We're all concerned, naturally' - Communities Secretary on rising oil prices
Steve Reed, the Communities Secretary has said the rising oil prices is causing concern, but described the UK economy as "stable" which will put the country in "a better position to weather the storms".
Speaking to GB News, Mr Reed was questioned over how the UK Government intends to tackle soaring prices, after brent crude oil went over $100 a barrel on Sunday.
He said: "We're all concerned, naturally, about what is happening in the Middle East.
"I don't know how long it's going to continue."
The Communities Secretary said that households will now have a £150 reduction in their energy bills from April, hoping this will curb the impact of rising fuel prices.
He added: "Whatever crises come, the fact that we have a more stable economy... puts us in a better position to weather the storms."
Shabana Mahmood must ban pro-Iran march, MPs say
Home Secretary Shabana Mahmood has been urged to ban a pro-Iran march due to its link to Tehran.
Ms Mahmood was told by 90 politicians that the Al Quds march will provide a platform for intimidation, extremist propaganda and the promotion of a regime hostile to the West.
Thousands of pro-Iranian protesters, many chanting anti-Israeli and anti-US slogans and backed by groups including The Campaign for Nuclear Disarmament and Stop the War, marched through London in a separate rally at the weekend.
King Charles urged to delay Donald Trump State Visit by MPs: 'It is unthinkable!'
MPs have urged Sir Keir Starmer to step in and prevent King Charles from visiting Washington DC for his State Visit, following Donald Trump’s recent comments.
The United States president hit out at the UK as a "once great ally" and said "we will remember" the lack of support in his campaign against the Islamic Republic.
President Trump reiterated his criticism while speaking on Air Force One earlier this morning, telling reporters the US "didn’t need" the potential support of British aircraft carriers and that "we already won."
Lib Dem leader Sir Ed Davey urged: "Keir Starmer should advise the King that the state visit to the US scheduled for April should be called off.
Rachel Reeves and G7 to discuss triggering emergency release of oil reserves in bid to avert economic catastrophe
The Group of Seven's (G7's) finance ministers including Rachel Reeves are set to hold emergency talks today to address the oil price spike triggered by the war in Iran.
In a crunch call at 1.30pm today, ministers will weigh a coordinated release from strategic petroleum stockpiles managed by the International Energy Agency.
Three G7 nations, the US among them, have already signalled their backing for the proposal, the Financial Times reported on Monday.
The 32 IEA member countries maintain emergency reserves specifically designed for oil market crises.
Some American officials believe releasing between 300 million and 400 million barrels would be suitable, representing roughly a quarter of total reserves.
Brent crude, the global benchmark, surged 24 per cent during Asian trading on Monday, reaching $116.71 per barrel.
Prices later retreated following news of the G7 discussions, settling at $110.85, still up nearly 19 per cent.
West Texas Intermediate, the American marker, climbed 28 per cent to $116.45 before dropping back to approximately $108.
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