“Storage Wars” star Darrell Sheets was found dead by police on Wednesday in Lake Havasu City, Ariz. He was 67.
According to Variety, which obtained a report from the Lake Havasu City Police Department, Sheets died from what appeared to be a self-inflicted gunshot wound. The statement said that on Wednesday around 2 a.m., officers were dispatched to Sheets’ home on Chandler Drive after reports of a deceased individual.
“Upon arrival, officers located a male subject who suffered from what appeared to be a self-inflicted gunshot wound to the head. The male was pronounced deceased on scene and the Lake Havasu City Police Department’s Criminal Investigations Unit was notified and responded to the scene to assume the investigation,” the statement read.
“The body was ultimately turned over to the Mohave County Medical Examiner’s office for further investigation,” the release continued.
Police said that they identified the man as Sheets and that his family had been notified. “This incident remains under active investigation, and additional information will be released as it becomes available.”
Sheets appeared across 15 seasons of the popular A&E reality show “Storage Wars” from 2010 to 2023. His son, Brandon Sheets, was also a cast member, and the father-son duo was often considered the heart of the show. Darrell would use his not-so-stealthy approach when bidding on storage lockers that he was willing to bet contained what he would describe as “wow factor” treasures.
“I’m a buyer by trade. I love buying storage sheds. It’s my addiction,” he said on the series. “I’m basically known for taking the good stuff and just getting the heck out of here.”
According to Sheets’ cast bio, the antiques enthusiast loved to brag about “four Picassos and the world’s most lucrative comic book collection” that he scored through storage auctions. He told The Times in 2015 that he once invested in a locker and discovered pieces of original artwork by Frank Gutierrez that he said appraised for about $300,000, making for the biggest take in the TV show’s then-five-year history.
Rene Nezhoda, another “Storage Wars” cast member who was often considered Sheets’ rival due to their onscreen antics, posted on Instagram after news of Sheets’ death broke and called out cyberbullies.
“Unfortunately, Darrell Sheets took his own life,” Nezhoda said. “I know a lot of you guys think we hated each other because we competed a lot on the show, and you know, we had our moments. We had our run-ins, but that’s because we were both competitors, right?
“Deep down, me and Darrell were friends. We talked every now and then. He is a very hard worker that cared more than anyone I’ve probably ever met about their family, about his son, about [his granddaughter] Zoie.”
Nezhoda said that Sheets had someone “really, really tormenting” him on social media.
The “Storage Wars” alum then addressed cyberbullies for their treatment of public figures, saying, “Just because you watch us on television doesn’t mean you know us. You never know what demons somebody faces.”
Redi Tlhabi speaks to economist Mariana Mazzucato on the Iran war’s economic fallout and who’s really paying the price.
The world is reckoning with the biggest oil supply disruption in history, one that has sent energy prices soaring, rattled stock markets and exposed the deep vulnerabilities of economies still hooked on fossil fuels. While millions face higher fuel and energy bills, top oil and gas companies are reportedly profiting about $30m per hour since the war began.
This week on UpFront, Redi Tlhabi speaks with renowned economist Mariana Mazzucato about what a genuine green industrial strategy looks like, why the World Bank has fallen short, and how her concept of the “common good economy” offers a new compass for governments navigating crises.
The International Monetary Fund has downgraded its global growth forecast for 2026 from 3.3 to 3.1 percent, citing the impact of the United States-Israeli war on Iran and the shutdown of the Strait of Hormuz on the world economy.
The war has damaged energy infrastructure across the Gulf, while critical exports like oil, gas, chemicals and fertiliser remain largely stranded by Iran’s shutdown of the strait and the subsequent US naval blockade of Iranian ports.
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In the worst-case scenario of a prolonged war, the IMF said global growth could fall to 2.5 percent in 2026, with low-income and developing economies hit the hardest by soaring commodity and energy prices. The global shipping and logistics industry is facing a separate crisis.
But every economic crisis also has beneficiaries: despite the dire macroeconomic outlook, some corners of the global economy are thriving on the uncertainty.
Here’s a look at five industries that are doing well either despite – or because of – the darkening economic outlook.
Wall Street investment banks
Global investors have been on a rollercoaster since the start of US President Donald Trump’s second term last year. The president’s erratic decision-making, where he often issues an ultimatum one day and then changes it the next, has led traders to coin the term “TACO trade”, where TACO stands for “Trump Always Chickens Out”.
The recent volatility has made some investors anxious, but it’s been a boon to investment banks, which make millions in commissions and revenue from the surging volume of trade, according to Sean Dunlap, a director of equity research at Morningstar Research Services.
“Clients want to reposition, so they trade frequently,” he told Al Jazeera. “Spreads tend to increase, which increases the profitability for trade intermediaries like banks.”
First-quarter results for 2026 – released this week – showed that Morgan Stanley reported a profit of $5.57bn, up 29 percent year on year, while Goldman Sachs reported a profit of $5.63bn, up 19 percent year on year.
JP Morgan Chase also reported major gains, with first-quarter earnings of $16.49bn, up 13 percent year on year. The banks all cited high levels of trading, deal-making, and “robust client engagement” as the reasons behind surging profits.
The boomtime for banks could reverse course, however, if volatility persists for too long, Dunlap warned, because investors may become increasingly cautious and less willing to borrow money to make trades.
Prediction markets
As mainstream Wall Street banks reap profits, the crypto-based prediction platform Polymarket has been earning upwards of $1m a day since the start of the month by letting users make peer-to-peer bets on everything from sports tournaments to elections.
Polymarket has been doing well since the start of the war, but it revised its fee structure on March 30 to cash in even more on its popularity.
Rival platforms like Kalshi, Novig and Robinhood also follow the same business model, but Polymarket has been the standout winner of 2026 because it controversially allows users to bet on the outcome of conflicts like the Iran war.
Polymarket revised its fee structure on March 30 to cash in on its popularity. The change has already netted the platform more than $21m in fees since April 1, up from $11.6m for all of March and $6.23m for all of February, according to DefiLlama, a website that provides data analysis for decentralised finance platforms.
If the current trend continues, Polymarket could make $342m in fees this year alone, according to DefiLlama’s analysis.
Anonymous users have also made millions correctly predicting the dates of major events like the US-Iran ceasefire, but the outcomes for rank-and-file users are typically less impressive.
Researchers found that the top 1 percent of Polymarket users captured 84 percent of all trading gains, according to a new report released this month analysing 70 million trades from 2022 to 2025. The returns are so high that US federal regulators have pledged to crack down on insider trading in prediction markets following suspiciously well-timed bets on Iran war outcomes.
Aerospace and defence
Unsurprisingly, the aerospace and defence industries are booming this year due to major conflicts in Ukraine, Iran, Sudan, Gaza and Lebanon and a surge in global defence spending.
About half of the world’s countries have increased their military budgets over the past five years, according to an April report from the IMF, which means they are also buying everything from drones to missiles — more than ever before. Demand is growing particularly fast in Europe, where NATO countries have committed to raising defence spending to 5 percent of gross domestic product (GDP) by 2035.
The defence industry has, in turn, seen major gains on the stock market. The MSCI World Aerospace and Defence Index – which tracks aerospace and defence stocks across 23 global markets – reported net returns of 32 percent year on year at the end of March.
The defence index outpaced the MSCI World Index, which tracks 1,300 large and mid-cap companies across the same 23 markets. The index, which gives a broader overview of global stock markets, reported net returns of 18.9 percent over the same period.
Artificial intelligence
Last year, the United Nations Trade and Development (UNCTAD) office predicted that the AI industry would grow from $189bn in 2023 to $4.8 trillion by 2033, and the Iran war does not seem to have dented the outlook.
“Despite the shocks from the Iran war, we’re still seeing resilience in a lot of sectors like artificial intelligence and renewable energy,” said Nick Marro, lead analyst for global trade at the Economist Intelligence Unit.
One metric for the AI boom has been the high volume of semiconductor chips still being exported out of East Asia, he said. At the top of the chart is chipmaking powerhouse Taiwan, which reported record-breaking merchandise exports of $80.2bn in March, up 61.8 percent year on year, according to EIU analysis.
The surge was led by exports to the US, which grew by 124 percent year on year, the EIU said.
Taiwan Semiconductor Manufacturing Company, the world’s top chipmaker better known by its acronym “TSMC,” on Thursday posted a net income of 572.8 billion New Taiwan Dollars (NTD) ($18.1bn) for the first three months of 2026 – up 58 percent year on year in NTD.
Another metric, initial public offerings or “IPOs,” also shows that the industry is confident for the moment, with industry leaders Anthropic and OpenAI both planning to go public this year.
Renewable energy
The Iran war has highlighted the need to transition from fossil fuels not only for environmental reasons, but also for reasons of energy security. The war marks the third major energy shock this decade, following the COVID-19 pandemic and the 2022 Russian invasion of Ukraine.
The Iran war has “boosted” renewable energy “given the urgency to switch away from fossil fuels and diversify towards renewable sources,” Marro of the EIU said.
Even before the Iran war began, the International Energy Agency reported that global governments were already taking active measures to invest in renewable energy for geopolitical reasons.
According to an IEA report released this month, “150 countries have active policies to advance renewable and nuclear deployment, 130 have energy efficiency and electrification policies, and 32 have policies to incentivise supply chain resilience and diversification across critical minerals and clean energy technologies.”
The Iran war has triggered another flurry of policymaking in Asia, which typically buys 80 to 90 percent of the oil and gas that transits through the Strait of Hormuz. Since the shutdown, the region has been struggling to find alternative sources of energy, forcing governments to deploy emergency measures like fuel rationing and price caps.
South Korea, Thailand, India, Cambodia, Indonesia, Vietnam and the Philippines have all announced a variety of measures from tax breaks for at-home solar panels to commissioning new renewable energy projects – and even restarting nuclear reactors.
The surge in policymaking has been good for the renewable industry. The S&P Global Clean Energy Transition Index, which tracks 100 companies that produce solar, wind, hydro, biomass and other renewable energy across emerging and developed markets, is up 70.92 percent year on year.
All this comes as Trump has been telling media outlets that he believes the war could soon end. We’ll talk more about that later in this story.
“China is very happy that I am permanently opening the Strait of Hormuz,” the American leader proclaimed on Truth Social, even as the flow of oil from the Middle East has been drastically reduced by the war. “I am doing it for them, also – And the World. This situation will never happen again. They have agreed not to send weapons to Iran.”
“President Xi will give me a big, fat, hug when I get there in a few weeks,” he added. “We are working together smartly, and very well! Doesn’t that beat fighting??? BUT REMEMBER, we are very good at fighting, if we have to – far better than anyone else!!!”
In a pre-taped interview that aired Wednesday morning, Trump told Fox News that the war hasn’t soured his relationship with Xi, who has expressed frustration with American actions in the Middle East.
“I don’t think it does,” Trump told Fox News host Maria Bartiromo. “He’s somebody that needs oil. We don’t. He’s somebody I get along with very well. He just wrote me a beautiful letter…He responded to a letter that I wrote because I had heard that China is giving weapons to – I mean, you’re seeing it all over the place – to Iran…I wrote him a letter asking him not to do that, and he wrote me a letter saying that essentially he’s not doing that.”
Trump:
I wrote a letter to Xi. I asked him not to give Iran weapons. He wrote me a letter, and he is saying that he is essentially not doing that. pic.twitter.com/yrTT9Dwi2V
Before his Truth Social Post and the Fox interview aired, Financial Times reported that Iran “secretly acquired a Chinese spy satellite that gave the Islamic republic a powerful new capability to target US military bases across the Middle East during the recent war.”
“Leaked Iranian military documents show the satellite, known as TEE-01B, was acquired by the Islamic Revolutionary Guard Corps’ Aerospace Force in late 2024 after it was launched into space from China,” according to the outlet. “Time-stamped coordinate lists, satellite imagery and orbital analysis show that Iranian military commanders later tasked the satellite to monitor key US military sites. The images were taken in March before and after drone and missile strikes on those locations.”
Meanwhile, China continues to push back against accusations that it is helping Iran and repeated previous assertions that it will respond should Trump go through with his threat to impose a 50% tariff.
“Media reports accusing China of providing military support to Iran are purely fabricated,” Chinese Foreign Ministry spokesman Lin Jian stated on X. “If the U.S. goes ahead with tariff hikes on China on the basis of these accusations, China will respond with countermeasures.”
Lin did not offer details about those countermeasures.
Media reports accusing China of providing military support to Iran are purely fabricated.
If the U.S. goes ahead with tariff hikes on China on the basis of these accusations, China will respond with countermeasures. pic.twitter.com/QwETjpJEyY
Regardless, Iran’s use of commercial space imagery to strike U.S. and allied targets “will force the Pentagon to adjust, the head of U.S. Space Command said,” according to Defense One.
“We have to recognize that the rest of the world can now see the entire planet transparently and almost 24/7 and so we have to be able to operate in that environment successfully,” Gen. Stephen Whiting, the head of U.S. Space Command told reporters Tuesday during the Space Symposium conference.
UPDATES
UPDATE: 2:24 PM EDT –
White House Press Secretary Karoline Leavitt denied the U.S. requested an extention to the ceasefire.
‘I saw some reporting that we had formally requested an extension of this ceasefire. That is not true. We remain engaged in these negotiations.’
She also thanked Pakistan for its help in the negotiations.
PRESS SEC on U.S.-Iran negotiations: The Pakistanis have been incredible mediators and we really appreciate their friendship and efforts to bring this deal to a close.
The President feels it’s important to continue to streamline this communication through the Pakistanis. pic.twitter.com/3iIeF0oUpn
Trump, as we noted earlier, is saying that he believes the war could soon be concluded.
“I think it’s close to over,” Trump posited. “I mean, I view it as very close to over. You know what? If I pulled up stakes right now, it would take them 20 years to rebuild that country. And we’re not finished. We’ll see what happens. I think they want to make a deal very badly.”
When asked by Sky whether a deal could happen before King Charles visits the U.S. at the end of the month, Trump said: “It’s possible. Very possible. They’re beaten up pretty bad.”
U.S. and Iranian negotiators made progress in talks on Tuesday, moving closer to a framework agreement to end the war, two U.S. officials said, Axios reported on Wednesday.
“U.S. officials and sources familiar with the mediation cautioned that a deal is not guaranteed, given the substantial differences between the two sides,” the news outlet noted.
“Let’s wait and see if we can get a deal. We are hopeful and accordingly trying to push with both sides,” a Pakistani official told Axios.
“U.S. officials and sources familiar with the mediation cautioned that a deal is not guaranteed, given the substantial differences between the two sides.”
“We want to make a deal. And parts of their government want to make a deal. Now the trick is to get the whole of government…
In another step toward potential future negotiations, Pakistan’s Army Chief of Staff Asim Munir arrived in Tehran today for talks.
Iran’s Foreign Minister Spokesman, Esmail Baghaei, said that during the visit, “the views of both sides are likely to be discussed in detail.”
Iran’s Foreign Minister Spokesman, Esmail Baghaei, confirms that a high-ranking Pakistani delegation will visit Tehran today to follow up on talks with the U.S. in Islamabad. “During this visit, the views of both sides are likely to be discussed in detail,” Baghaei said. pic.twitter.com/bdMnyCKUA5
— Ariel Oseran أريئل أوسيران (@ariel_oseran) April 15, 2026
Baghaei, however, said Iran would not capitulate.
“If a negotiation is based on one side imposing conditions on the other, that is not negotiation; it is dictation and imposition, and you know that the Islamic Republic of Iran and the Iranian nation will never accept such imposition,” he stated.
Iranian Foreign Ministry spokesperson:
If a negotiation is based on one side imposing conditions on the other, that is not negotiation; it is dictation and imposition, and you know that the Islamic Republic of Iran and the Iranian nation will never accept such imposition. pic.twitter.com/lnKeJT9Pow
In an X post, CENTCOM on Wednesday said that during “the first 48 hours of the U.S. blockade on ships entering and exiting Iranian ports, no vessels have made it past U.S. forces. Additionally, 9 vessels have complied with direction from U.S. forces to turn around and return toward an Iranian port or coastal area.”
During the first 48 hours of the U.S. blockade on ships entering and exiting Iranian ports, no vessels have made it past U.S. forces. Additionally, 9 vessels have complied with direction from U.S. forces to turn around and return toward an Iranian port or coastal area. pic.twitter.com/h4msgvaPTl
Late Tuesday night, Adm. Brad Cooper, commander of CENTCOM, took to X to announce that the “blockade of Iranian ports has been fully implemented as U.S. forces maintain maritime superiority in the Middle East.”
“An estimated 90% of Iran’s economy is fueled by international trade by sea,” Cooper noted. “In less than 36 hours since the blockade was implemented, U.S. forces have completely halted economic trade going into and out of Iran by sea.”
Senior IRGC commander Maj. Gen. Ali Abdollahi claimed the Islamic Republic would consider it a prelude to the breach of the ceasefire if “the aggressive and terrorist America” continues the blockade.
Abdollahi “threatened that the powerful Iranian armed forces would not allow any export and import to keep going in the Persian Gulf, the Sea of Oman, and the Red Sea region, in the face of the US maritime aggression,” the official Iranian IRNA news agency stated on Wednesday.
Meanwhile, the Malta-flagged VLCC Agios Fanourios I became the first crude carrier to head west through the Strait of Hormuz since the US blockade on Iran’s ports came into force, according to MarineTraffic.
First crude carrier heads west through Strait of Hormuz since the US blockade
The Malta-flagged VLCC Agios Fanourios I has become the first crude carrier to head west through the Strait of Hormuz since the US blockade on Iran’s ports came into force. According to #MarineTraffic… pic.twitter.com/K8syfSZtFL
Though another round of peace talks between the U.S. and Iran is being discussed, the Pentagon continues to pour resources into the Middle East, something we have been reporting about for weeks.
“The forces moving into the region include about 6,000 troops aboard the aircraft carrier USS George H.W. Bush and several warships escorting it, said current and former officials,” according to The Washington Post, citing anonymous officials. “About 4,200 others with the Boxer Amphibious Ready Group and its embarked Marine Corps task force, the 11th Marine Expeditionary Unit, are expected to arrive near the end of the month.”
The Nimitz class aircraft carrier USS George H.W. Bush. (U.S. Navy photo by Mass Communication Specialist 2nd Class Mitchell Mason) Petty Officer 2nd Class Mitchell MasonA stock picture of the Wasp class amphibious assault ship USS Boxer. USN
During the pause in fighting, Iran appears to be using the time to reopen entrances to underground missile cities damaged during the war, according to CNN. The network published footage showing engineering equipment at the Tabriz South missile base and the Khomein missile bases.
The network also noted that, according to U.S. intelligence estimates, about half of the Iranian missile launchers remained intact after a month of fighting, and that many of these launchers could have been buried in underground storage facilities as a result of strikes on the entrances.
CNN published footage showing engineering equipment making use of the ceasefire to reopen the entrances to underground facilities at missile bases that were damaged during the war.
The sites documented include the Tabriz South missile base and the Khomein missile base.
A day after negotiations took place in Washington between the U.S., Israel and Lebanon, Hezbollah issued a veiled threat to Beirut. Considered a terrorist organization by the U.S. and Israel, Hezbollah was not a party to the talks.
“The Lebanese authorities must reconsider their actions and return to the embrace of the people,” said Hezbollah MP Hassan Fadlallah in a statement. “The authorities withdrew the army from the south, leaving it vulnerable to occupation and giving the enemy [Israel] free rein.”
Meanwhile, Israel is continuing to bombard Hezbollah.
“In the past 24 hours, the IDF struck over 200 Hezbollah terror infrastructure sites in southern Lebanon,” it claimed. “Among the targets struck: terrorists, military structures, approximately 20 launchers, including those recently used to fire towards the State of Israel.”
ביממה האחרונה הותקפו יותר מ-200 מטרות של ארגון הטרור חיזבאללה בדרום לבנון. בין התשתיות שהותקפו: מחבלים, מבנים צבאיים וכ-20 משגרים, בהם משגרים ששיגרו לעבר שטח הארץ והושמדו בסגירות מעגל מהירות. pic.twitter.com/LeR2mr37Vv
ISLAMABAD — The United States and Iran began face-to-face negotiations Saturday in Pakistan, days after a fragile, two-week ceasefire was announced, as the war that has killed thousands of people and shaken global markets entered its seventh week.
The White House confirmed the direct nature of the talks, a rare instance of high-level U.S. government engagement with the Iranian government.
Iran’s state-run news agency said three-party talks including Pakistan had begun after Iranian preconditions, including a reduction in Israeli strikes on southern Lebanon, were met, and after U.S. and Iranian officials met separately with Pakistani Prime Minister Shehbaz Sharif.
The U.S. delegation led by Vice President JD Vance and the Iranian delegation led by Parliament Speaker Mohammad Bagher Qalibaf were discussing how to advance the ceasefire already threatened by deep disagreements and Israel’s continued attacks against the Iranian-backed Hezbollah in Lebanon.
Since the Islamic Revolution in Iran in 1979, the most direct U.S. contact had been in September 2013 when President Obama called newly elected President Hassan Rouhani to discuss Iran’s nuclear program. The recent highest-level meetings were between Secretary of State John Kerry and counterpart Mohammad Javad Zarif during negotiations over the program.
Iran sets ‘red lines’ including compensation for strikes
Iran doubled down on parts of its earlier proposal, with its delegation telling Iranian state television it had presented some of the plan’s ideas as “red lines” in meetings with Sharif. Those included compensation for damage caused by the U.S.-Israeli strikes that launched the war on Feb. 28 and releasing Iran’s frozen assets.
The war has killed at least 3,000 people in Iran, 1,953 in Lebanon, 23 in Israel and more than a dozen in Gulf Arab states, and caused lasting damage to infrastructure in half a dozen Middle Eastern countries. Iran’s chokehold on the vital Strait of Hormuz has largely cut off the Persian Gulf and its oil and gas exports from the global economy, sending energy prices soaring.
Reflecting the high stakes, officials from the region said Chinese, Egyptian, Saudi and Qatari officials were in Islamabad to indirectly facilitate the talks. The officials spoke on condition of anonymity to discuss the sensitive matter.
In Tehran, residents told the Associated Press they were skeptical yet hopeful about the talks after weeks of airstrikes left destruction across their country of some 93 million people. Some said the path to recovery would be long.
“Peace alone is not enough for our country, because we’ve been hit very hard, there have been huge costs,” 62-year-old Amir Razzai Far said.
Meanwhile, Israel pressed ahead with strikes in Lebanon after saying there is no ceasefire there. Iran and Pakistan have disagreed. The Lebanese state-run news agency reported at least three people killed.
Officials posture over key issues ahead of talks
Ahead of the talks, President Trump accused Iran of using the Strait of Hormuz, a key artery for global energy supplies, for extortion, and told reporters Friday it would be opened “with or without them.”
Iran’s closure of the strait has proved its biggest strategic advantage in the war. Around a fifth of the world’s traded oil had typically passed through on over 100 ships a day. Only 12 have been recorded transiting since the ceasefire.
Iran has floated the idea of charging ships, though the idea has been widely rejected by countries including the United States and Iran’s neighbor Oman.
On Saturday, Trump said on social media that the U.S. had begun “clearing out” the strait, but it was unclear whether he was referring to the reported use of mines there or Iran’s broader ability to control the area.
Iranian Foreign Minister Abbas Araghchi had said Tehran was entering negotiations with “deep distrust” after strikes on Iran during previous rounds of talks. Araghchi, part of Iran’s delegation in Pakistan, said Saturday that his country was prepared to retaliate if attacked again.
Iran and the United States outlined competing proposals ahead of the talks.
Iran’s 10-point proposal called for a guaranteed end to the war and sought control over the Strait of Hormuz. It included ending fighting against Iran’s “regional allies,” explicitly calling for a halt to Israeli strikes on Hezbollah.
The United States’ 15-point proposal includes restricting Iran’s nuclear program and reopening the strait.
Israel and Lebanon will have direct negotiations
Negotiations between Israel and Lebanon are expected to begin Tuesday in Washington, Lebanese President Joseph Aoun’s office said Friday, after Israel’s surprise announcement authorizing talks despite the countries lack of official relations.
Israel wants the Lebanese government to assume responsibility for disarming Hezbollah, much like was envisaged in a November 2024 ceasefire. But it is unclear whether Lebanon’s army can confiscate weapons from the militant group, which has survived efforts to curb its strength for decades.
Israel’s insistence that the ceasefire in Iran does not include a pause in its fighting with Hezbollah has threatened to sink the deal. The militant group joined the war in support of Iran in the opening days. Israel followed up with airstrikes and a ground invasion.
The day the Iran ceasefire deal was announced, Israel pounded Beirut with airstrikes, killing more than 300 people in the deadliest day in Lebanon since the war began, according to the country’s Health Ministry.
Energy pressures grow
The spot price of Brent crude, the international standard for oil prices, was above $94 on Saturday, up more than 30% since the war started.
And new pressures emerged in Europe for travelers.
The head of Airports Council International-Europe, Olivier Jankovec, warned the European Union that a ″systemic jet fuel shortage’’ could come within three weeks because of the blockage of the Strait of Hormuz.
Jankovec said in a letter obtained by the Associated Press that the crunch could impact the summer travel season and ″significantly harm the European economy.’′
Ahmed, Metz, Castillo and Magdy write for the Associated Press. Metz reported from Jerusalem, Castillo from Beijing and Magdy from Cairo. Associated Press writer Josh Boak contributed to this report.
Lebanon is facing a rapidly worsening food security situation as the fallout from the war involving Iran disrupts supply chains and drives up prices. The warning comes from the World Food Programme, which says the crisis is deepening alongside ongoing displacement and economic strain.
A fragile ceasefire between the United States and Iran has done little to stabilise conditions, with continued tensions and regional spillover, including Israeli strikes inside Lebanon, undermining recovery efforts.
From Displacement to Hunger
According to WFP officials, Lebanon’s crisis is evolving beyond displacement into a full scale food emergency.
As conflict intensifies and populations are forced to move, demand for food is rising sharply. At the same time, supply disruptions are making essential goods increasingly scarce and unaffordable.
This combination of rising demand and shrinking supply is accelerating inflation, placing basic food items out of reach for many households.
Collapse of Local Markets
The crisis is not uniform across the country but reflects a fragmented economic landscape
In southern Lebanon, where bombardment has been most intense, more than 80 percent of markets have ceased functioning altogether In the capital, Beirut, markets remain operational but are under growing pressure from increased demand and limited supply
This two tiered breakdown highlights the uneven but interconnected nature of the crisis, where disruption in one region intensifies strain in another.
Supply Chains Under Strain
One of the most immediate concerns is the rapid depletion of food stocks. Traders report having less than a week’s worth of essential supplies remaining in some areas.
The disruption of key shipping routes and broader regional instability linked to the Iran conflict has made it difficult to replenish these stocks.
Even when aid is available, delivering it has become increasingly challenging. A recent WFP convoy to southern Lebanon took over 15 hours to complete a journey that would normally take only a few hours, underscoring logistical and security constraints.
Ceasefire Fragility and Regional Spillover
The instability of the ceasefire is a central factor in the worsening situation. Accusations of violations, particularly around the Strait of Hormuz, and continued military actions in Lebanon are undermining confidence and prolonging uncertainty.
This environment prevents the normalisation of trade routes and discourages commercial activity, both of which are essential for stabilising food supply.
Lebanon’s vulnerability is heightened by its dependence on imports, making it especially sensitive to external shocks in global and regional supply chains.
Implications
The emerging food crisis carries significant risks
A sharp increase in food insecurity among already vulnerable populations Further displacement as living conditions deteriorate Greater reliance on international humanitarian assistance
The situation also places additional strain on aid organisations, which must operate under increasingly difficult conditions while demand for assistance continues to grow.
Analysis
The crisis in Lebanon illustrates how modern conflicts extend far beyond immediate battlefields, disrupting economic systems and humanitarian conditions across borders.
The intersection of war, supply chain disruption, and domestic fragility has created a compounding effect. Lebanon’s pre existing economic weaknesses, including reliance on imports and limited state capacity, amplify the impact of external shocks.
At the same time, the breakdown of local markets and logistical bottlenecks reveals how quickly food systems can collapse under sustained pressure. The difficulty in delivering aid further complicates the response, turning what might have been a manageable shortage into a systemic crisis.
The situation also highlights the limits of ceasefires that fail to stabilise broader regional dynamics. Without secure trade routes and consistent de escalation, even temporary pauses in fighting offer little relief to economies and populations already under strain.
Around two dozen protesters gathered outside the US embassy in Tel Aviv, calling for an end to the war with Iran and Lebanon. Police ordered the protest to disperse within minutes as tensions rose and members of the public confronted demonstrators.
