Entertainment
Gas, food, household prices explained
Iranian authorities have issued a stark warning that oil prices could skyrocket to $200 per barrel as the Islamic Republic escalates its military campaign in the strategic Strait of Hormuz, vowing to halt all petroleum shipments to the U.S. and its allies.
The warning follows as at least three vessels were struck by projectiles in the vital chokehold on Wednesday, March 11.
The price rise to $200 per barrel has impacts beyond geopolitical sabre-rattling, directly affecting household budgets globally.
The most immediate impact hits drivers worldwide.
It is expected that the gas prices could surge in the United States past $6 per gallon. Europeans, already paying $6 to $8 per gallon with taxes, can see prices reaching $10 or more.
In developing nations of the region, the fuel costs could become unbearable, forcing families to choose between commuting and eating.
In addition to oil prices, fertilizer prices are also at risk. The World Food Programme warns that every dollar increase in oil prices pushes millions closer to hunger.
Heating homes and electricity demand will follow crude prices upwards.
For Europe, which is currently in the grip of an energy crisis, heating costs in winter may no longer be affordable for millions of people.
For developing countries, where governments often heavily subsidize electricity costs, it may mean severe cuts in other areas of public expenditure or even power outages.
Air conditioning in sweltering summers in the Middle East and South Asia may no longer be affordable.
The conditions can create a ripple effect affecting everything, everywhere, all at once.
Manufacturing grinds slower when energy costs soar. With high energy prices, manufacturing grinds to a halt.
In China, factories are already facing impossible margins.
Retailers from Lagos to London raise prices. Airlines tack on fuel surcharges, making travel prohibitive for ordinary families.
Additionally, ride-hailing services are becoming too expensive, and delivery apps are adding fees.
The International Monetary Fund (IMF) issued a stark warning that sustained $200 oil could shave 1.5 to 2% points off global GDP, which is enough to tip multiple economies into recession.
Although the conflict lies between the U.S., Israel, and Iran, the whole world is paying the price.
Entertainment
Was rapper close to her?
Eminem has lost another close family member, with his maternal grandmother Betty Kresin dying on Tuesday, 10th March at her home in Missouri at the age of 87. But the relationship seems to be in question.
Sources close to the family confirmed to TMZ that she died from complications related to breast cancer.
The rapper, whose real name is Marshall Mathers, was not present when she passed.
The loss comes just over a year after the death of his mother, Debbie Nelson, who died in December 2024 following a battle with advanced lung cancer.
Betty was Debbie’s mother.
The relationship between Eminem and his grandmother was a complicated one.
In an August 2000 interview with London’s Mirror, Kresin spoke candidly about the painful distance that had grown between them as her grandson’s fame, and notoriety, grew.
“Neither his mother Debbie nor I can figure out what happened to this sweet, caring youngster. In just over 12 years he’s gone from telling me ‘Grandma I love you,’ to ‘Go to hell.’ It just breaks my heart,” she said.
“I can’t believe this is my Marshall, the same boy who used to come and sit on my lap.”
She also described his music at the time as “vile and disgusting.”
Despite the public airing of those grievances, fans who knew of the family’s history have been quick to note the role Kresin played in Eminem’s early life.
One Instagram commenter writes: “That was the grandma’s house he always went to as a kid when things got rough at home. She loved him so much and always took care of him.”
Tributes from fans have poured in across social media since news of her death broke.
Eminem, 53, has not publicly commented on the loss.
He recently became a grandfather himself after his daughter Hailie Jade welcomed a son, Elliot Marshall McClintock, with husband Evan McClintock, a name chosen in honour of Marshall Mathers himself.
Entertainment
Rebecca Gayheart reveals Eric Dane’s ‘urgent’ project before death
Rebecca Gayheart has revealed that Eric Dane spent some of his final weeks working on an urgent personal project, using artificial intelligence to restore his voice before ALS robbed him of it entirely.
Gayheart, 54, spoke to Variety about her late husband’s collaboration with AI firm ElevenLabs in the weeks before his death on 19th February at the age of 53.
Dane, who was diagnosed with amyotrophic lateral sclerosis just ten months before he died, had been losing his ability to speak as the disease progressed.
“He was really excited about it, because he was losing his voice, and it was becoming more difficult for him to communicate each and every day. So it became sort of urgent,” Gayheart recalled.
ElevenLabs’ Impact Program, which provides free licences to individuals with accessibility needs, uses past recordings to create a synthetic voice for people in Dane’s situation.
The moment they heard the finished result together was one Gayheart will not forget.
“He was waiting anxiously to hear it, and when we got it from ElevenLabs it was a really big moment. It was a powerful moment,” she said.
“We played it, and Eric became visibly emotional. And when I heard it, I cried. I think everyone in the room did.”
She added that Dane had wanted to use the experience to advocate more broadly for ALS awareness and the wider movement around voice restoration technology.
“For a million people to get a voice to be able to communicate with their children or their loved ones or their caretakers or their doctors or in their job, this is a really huge movement,” she said.
“He wanted to advocate for love and for the movement and so I’m there to do this for him.”
Gayheart and Dane, best known for his roles in Grey’s Anatomy and Euphoria, met in 2003 and married the following year.
They separated in 2018 but remained close, and Gayheart became one of his primary carers during his illness.
The couple share two daughters, Billie, 16, and Georgia, 14. Dane’s family confirmed his passing in a statement to PEOPLE, describing him as a “passionate advocate for awareness and research” who was surrounded by friends, his wife, and his daughters in his final days.
Entertainment
IEA announces record 400 million barrel oil release amid Middle East tensions
The International Energy Agency (IEA) has authorised the historic release of 400 million barrels of oil to address the shortage caused by supply disruptions amid intensifying tensions in the Middle East.
The decision comes after Iran announced the closure of the Strait of Hormuz, a critical passage through which much of the world’s oil supply passes, following U.S.–Israeli joint military strikes on Iran.
The announcement, made on Wednesday, did not set out a timeline for the release of oil stocks. However, it added that the oil would be released in appropriate time depending on the circumstances of the 32 member states.
For context, IEA was formed in 1974 to maintain global energy security in response to the 1973 Arab oil embargo. It primarily consists of advanced economies from Europe, North America and Northeast Asia.
Speaking at the organisation’s headquarters in Paris, the IEA Executive Director Fatih Birol said that considering the significant impacts of the conflict in the Middle East on global oil, gas markets, energy security and global economy for oil, “I can now announce that IEA countries have unanimously decided to launch the largest-ever release of emergency oil stocks in our agency’s history.”
The agency holds over 1.2 billion barrels of oil in public emergency reserves, along with around 600 million barrels of industry stocks held under government obligations
Birol said the release would help mitigate immediate effects of the closure of the Strait of Hormuz.
The normal flow of traffic from the Strait is needed to bring oil and gas flows back to the global market.
-
Politics5 days agoIndia let Iran warship dock the day US sank another off Sri Lanka, say officials
-
Sports5 days agoPakistan set for FIH Pro League debut | The Express Tribune
-
Business5 days agoRestaurant group changes name after bid to buys pubs across the UK
-
Entertainment5 days agoHarry Styles kicks off new era with ‘One Night Only’ comeback show
-
Business5 days agoHome heating oil: ‘Most of my pension has gone on home heating oil’
-
Sports5 days agoWinners and losers of the 2026 NHL trade deadline
-
Entertainment5 days agoKanye ‘Ye’ West trips during trial: ‘Is he asleep?’
-
Entertainment1 week agoUS launches military operations in Ecuador amid ongoing Iran War
