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Published by Capital Client Group, Inc. Good morning from the Financial Times.
Today is Monday, May 11th, and this is your FT News Briefing.
We 've got a few updates on the situation in the Strait of Hormuz,
and despite warnings of jet fuel shortages, some airlines are not upping their ticket prices.
Plus, Britain's prime minister will step up to the podium today as calls for him to resign get louder.
This is being billed as the speech of Starmer's career after the absolutely dismal results
for the ruling Labour Party in the local elections.
I'm Victoria Craig and here's the news you need to start your day.
Been talking for months about how oil tankers have been stuck in the Gulf.
That's because the Strait of Hormuz has been effectively shut since the U.S.-Israeli war on Iran began back in February.
But just yesterday, a Qatari gas shipment made it through.
It 's bound for Pakistan and is the first from Qatar to make it through the Strait
with Iran's sign-off since the war started.
The tanker's lonely journey through the waterway comes as European oil majors are reaping billions
of dollars from the energy market turmoil.
Analysts estimate that Shell, BP, and Total Energy is raked in as much as $4.75 billion from volatile price swings.
But as these oil giants earn a windfall from the war,