Sir Keir Starmer has arrived in Saudi Arabia as part of a visit to Gulf allies to push for a long-term resolution to the Iran conflict. The Prime Minister's trip comes after Iran and the United States agreed to a two-week ceasefire, with the condition that Iran reopens the Strait of Hormuz for shipping.
Mr Starmer is set to hold talks with Gulf leaders, including Saudi Arabia’s Mohammed bin Salman, on how best to support the pause in fighting and ensure permanent passage through the key oil and gas shipping route. He is also expected to thank armed forces from the UK and allied countries stationed in the region.
The ceasefire announcement led to a fall in global oil prices and a rise in stock markets. London’s FTSE 100 index jumped by as much as 2.6% at the start of trading, while the price of Brent crude slid by 14.3% to 93.6 US dollars (£69.78) a barrel. However, petrol and diesel costs for UK motorists have risen sharply since the conflict began, with average diesel prices reaching 190.6p per litre, up 34% since February 28.
A joint statement by world leaders, including Sir Keir, welcomed the ceasefire and said they would contribute to ensuring freedom of navigation in the Strait of Hormuz. “We strongly encourage quick progress towards a substantive negotiated settlement,” they said. “This will be crucial to protect the civilian population of Iran and ensure security in the region.”
US Vice President JD Vance described the deal as a “fragile truce”, with reports of missile or drone raids on Kuwait and the United Arab Emirates, while Iran claimed its Lavan Island oil refinery had come under attack. Israel continued its attacks on Lebanon, asserting it was not covered by the ceasefire agreement.
