Good morning from the Financial Times.
Today is Friday, April 10th, and this is your FT News Briefing.
Hopes are fading fast that a U.S.-Iran ceasefire will reopen the Strait of Hormuz,
and the war is making electric vehicles more attractive to consumers.
Plus, Hungarian voters could oust their longtime leader this weekend.
Orban turned Hungary inside out in those 16 years that he's been in power.
So now Orban very much finds himself cornered and isolated.
I'm Victoria Craig, and here's the news you need to start your day.
Shipping through the Strait of Hormuz remains at a standstill.
That's despite a U.S.-Iran ceasefire that was meant to reopen one of the world's busiest waterways.
Iran effectively closed it when the conflict started.
But yesterday, NATO Secretary General Mark Rutte said the alliance could play a role
in helping to get ships moving again.
If NATO can help, obviously NATO is there.
There's no reason not to be helpful.
Obviously we will.
Oil supplies remain extremely tight, and more cracks in the market are starting to show.
Prices of North Sea oil for immediate delivery rose to record highs yesterday,
and traders were unable to buy some Brent crude contracts.
Since the start of the war, governments around the world have rushed to cut fuel taxes.