Iran said on Thursday (Apr 2) that Washington's demands were "maximalist and irrational". It denied that any negotiations were underway on a ceasefire to end the war in the Middle East, as President Donald Trump prepared to make a national address on the conflict.

Trump claimed Wednesday that Iran's president had asked for a ceasefire but said the Islamic Republic must first reopen the Strait of Hormuz, spurring global attention on his televised address from the White House that's happening at 9pm (9am Singapore time on Thursday).

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SINGAPORE: When conflict erupted in the Middle East, global crude oil markets were rattled, and pump prices followed. Petrol spiked first, with motorists feeling the pinch within days. 

But the dynamic has since shifted: diesel has overtaken petrol in price, and analysts say the gap is unlikely to close anytime soon.

A week before the war broke out in late February, major pump stations in Singapore were charging up to S$2.66 per litre of diesel – cheaper than the S$2.88 for 95-octane petrol. 

That has since reversed. As of Tuesday (Mar 31), Shell was the most expensive at S$4.23 per litre for diesel, followed by Caltex and Esso at S$4.13, according to price comparison app Price Kaki. SPC and Sinopec charged S$3.92 and S$3.93 respectively. 

By comparison, 95-octane petrol is now the cheaper option, at S$3.40 to S$3.42 per litre. 

What is driving this shift, and how long will it last? CNA finds out.

Why is diesel outpacing petrol in price?

Diesel is structurally more vulnerable to supply shocks than petrol, analysts say.

It relies on medium or heavy sour crude, which is the type most at risk from Middle East disruptions, and is heavily exposed to global shipping chokepoints such as the Strait of Hormuz, said Mr Nithin Prakash, a commodity analyst at Rystad Energy.

Supply has been further squeezed by Ukrainian strikes on Russian refineries, China's export restrictions limiting Asian diesel flows, and limited refinery flexibility to boost diesel output.

Demand, meanwhile, has not let up. Diesel powers the industrial, transport, logistics and aviation sectors – consumers who cannot simply cut back when prices rise.

A motorist facing high petrol prices can switch to public transport. A logistics operator has no such option, said Dr David Broadstock, a partner at energy consultancy The Lantau Group. 

"Whether it's delivering goods or people, if the price of diesel goes up, they still need to do their work. They won't change the amount of diesel that they consume unless everybody in the economy stops moving around," the economist said.

Petrol prices, by contrast, are cushioned by higher inventories and more flexible supply, added Mr Nithin.

With geopolitical uncertainty showing no sign of easing, fuel providers are in no hurry to bring prices back down.

"Everything about what's happening in the Middle East says that we have more uncertainty ahead, and uncertainty typically translates into higher prices," said Dr Broadstock.

Is the price gap temporary?

The current diesel premium over petrol is unlikely to be short-lived, both analysts agree, though they differ on its duration.

Mr Nithin said the structural supply shortfall means prices will not simply revert once the immediate crisis passes. "Even with a de-escalation, a 30 to 40 per cent correction is possible, but rebuilding damaged infrastructure and restoring flows could take years," he said, predicting diesel will remain more expensive than petrol for at least the next year.

Dr Broadstock similarly does not expect a quick reversal, though he puts the likely horizon at months rather than years.

Seasonal demand adds further support to diesel prices – construction and agriculture in spring, heating in winter – while petrol demand is being softened over time by electric vehicle adoption and slower consumption growth, Mr Nithin said.

Governments are likely to intervene before prices become untenable, Dr Broadstock added. "We're likely to see efforts to try to stabilise those prices … especially where it impacts residential households, which is more likely on the petrol side." 

What does this mean for consumer prices and inflation?

Rising diesel costs ripple quickly through the broader economy. Freight, logistics and production costs all go up – and eventually, so do the prices consumers pay for goods and food.

Historically, a 10 per cent rise in diesel prices can translate into a one to two percentage point increase in the consumer price index over six to nine months, said Mr Nithin. The full effect of recent surges has yet to show up in current inflation data, he noted.

Dr Broadstock cautioned that Singapore's exposure goes beyond domestic diesel prices. As a heavily import-dependent economy, Singapore is vulnerable to price increases across the full range of imported goods – all of which face higher shipping and logistics costs.

"We can confidently say this will add inflationary pressure, but we cannot confidently say how much," he said.

Does Singapore maintain a diesel stockpile?

Yes, as with most countries.

Strategic energy reserves are typically sized to keep an economy running for roughly two to three months should supplies be cut off entirely, said Dr Broadstock. Diesel, as a key transport fuel, would be part of any such reserve.

In Singapore, the Energy Market Authority also requires power generators to hold diesel stockpiles as backup fuel. Recent measures have increased buffer levels, though these are designed for short-term operational resilience rather than broader market intervention, said Mr Nithin.

Is there a global diesel shortage?

Not yet – but supplies are stretched.

"We're not in a situation where diesel is tight globally," said Mr Nithin. However, with inventories already on the lower end and geopolitical risks elevated, securing additional supply is becoming harder. Freight and insurance costs could also climb as a result, he added.

Dr Broadstock noted that governments and major importers are already exploring alternative fuel sources and diversifying away from Russian supply. While the disruption to the Strait of Hormuz has affected roughly 20 per cent of global liquefied natural gas (LNG) flows, he said the market has had time to adapt.

"The ability for the rest of the market to scale up production – and now that we are talking weeks, almost measuring into months of understanding that the supply chain is disrupted – it's also enough time for different parties to scale up their supply," he said.

"IT'S THE SAME CONSTITUTION"

DECISION BY JULY

Wang, the ACLU attorney, told the justices a rejection of birthright citizenship would call into question "the citizenship of millions of Americans past, present and future."  

"Ask any American what our citizenship rule is, and they'll tell you, everyone born here is a citizen alike," Wang said. "That rule was enshrined in the 14th Amendment to put it out of the reach of any government official to destroy."

The Trump administration is arguing that the 14th Amendment, passed in the wake of the 1861-1865 Civil War, addresses citizenship rights of former slaves and not the children of undocumented migrants or visitors.

Trump's executive order is premised on the notion that anyone in the United States illegally, or on a visa, is not "subject to the jurisdiction" of the country and therefore excluded from automatic citizenship.

The Supreme Court rejected such a narrow definition in a landmark 1898 case involving a man who was born in San Francisco to parents from China.

If the Supreme Court rejects ending birthright citizenship, it would be the second major loss for Trump this term - the justices struck down most of his global tariffs in February.

A decision in the case is expected by late June or early July.

NEW YORK: Global stocks rallied and oil prices fell Wednesday (Apr 1) after US President Donald Trump said the Middle East war that has roiled markets could be over within weeks - despite Tehran pushing back against his comments on a ceasefire.

Wall Street's main indices closed higher, building on major gains from the previous day.

In Europe, Frankfurt and Paris both jumped more than two per cent, while London rose 1.9 per cent.

That came after Asian markets closed sharply higher, with Seoul soaring more than eight per cent, Tokyo up five per cent and Chinese stocks also rising.

Oil prices fell, with international benchmark Brent for June delivery down 2.7 per cent after falling as much as five percent earlier. The main US contract WTI dropped 1.2 per cent.

Trump said Tuesday that the United States could end operations in Iran within "two weeks, maybe three," and claimed that the Islamic republic was seeking a ceasefire, a statement denied by Tehran.

The White House said Trump would address the nation on Wednesday "to provide an important update on Iran."

The US president has frequently U-turned after making policy statements, particularly with regards to foreign relations and military operations, a trait that has roiled markets.

Tom Cahill, from Ventura Wealth Management, told AFP markets were due to pull back some ground after being "oversold."

"When news came out about a potential ceasefire in the war in the Middle East, that obviously was the catalyst to drive the market higher," he said.

The economic impact of the conflict is worsening, with average US gasoline prices topping US$4 a gallon this week for the first time in four years, European inflation spiking and governments unveiling a range of support measures.

Iranian President Masoud Pezeshkian said the country had the "necessary will" to end the war, provided its enemies guaranteed it would not flare up again.

But Israeli Prime Minister Benjamin Netanyahu insisted that Israel would press ahead with its military campaign and that "we will continue to crush" the Iranian government.

Traders remained wary as fresh strikes hit Tehran on Wednesday, and an oil tanker off the coast of Qatar was struck by an Iranian missile.

"Despite today's relief wave on markets, deep problems remain," said Susannah Streeter, chief investment strategist at Wealth Club. 

She said elevated crude prices, still about 50 per cent above pre-war levels, "signals that scepticism still remains about Trump's claims of progress, and worries persist about how extraction from the conflict is still set to be complex".

FOREX.com analyst Fawad Razaqzada said there was still a long way to go before oil prices could come back down to levels before the conflict.

"There's simply too much uncertainty, both in terms of supply disruption and geopolitical escalation, for prices to meaningfully reset lower just yet," he said.

In company news, shares in Chinese artificial intelligence startup Zhipu, which went public in January, soared more than 32 per cent after it said revenue from its cloud business almost tripled last year.

MOSCOW: Russia will keep providing assistance to Cuba, Russia's foreign ministry spokeswoman said Wednesday (Apr 1), a day after a Russian oil tanker provided the fuel-starved island with its first shipment of crude in months.

Cuba has been suffering from an energy crisis since January, when US forces abducted Venezuelan president and Cuban ally Nicolas Maduro. 

His removal deprived Cuba of its main oil supplier.

"Cuba is our closest friend and partner in the Caribbean and we don't have the right to abandon it. Assistance to Cuba will continue," Russian foreign ministry spokeswoman Maria Zakharova said at a weekly briefing.

A Russian tanker entered the Cuban port of Matanzas on Tuesday carrying 730,000 barrels of oil following a three-week journey from Russia.

Moscow historically maintains close ties to Havana and has criticised Washington for blocking fuel deliveries to the island.

US President Donald Trump said on Sunday he had "no problem" with Russia sending oil to the island.

"Cuba's finished. They have a bad regime. They have very bad and corrupt leadership and whether or not they get a boat of oil it's not going to matter," he said.

WASHINGTON: United States President Donald Trump will address the nation in a televised speech at 1am GMT (9am, Singapore time) on Thursday as his administration signals it is moving toward a possible exit from the month-long war with Iran.

Trump, facing a war-wary American public and sliding approval ratings, is expected to say the US military has accomplished its wartime goals, according to a White House official. 

He will also reiterate his plan to wind down the conflict within two to three weeks, the official said.

Trump and his advisers have offered shifting explanations and timelines for the conflict, now in its fifth week. 

Should he convince voters that the war is time-limited and near its end, it may help to assuage growing concerns among Americans, most of whom oppose the conflict and many of whom are upset at rising gasoline prices due to disruptions in the global oil supply.

Trump is expected to say the US has destroyed Iran's navy and its ballistic missiles and missile production facilities, while guaranteeing that Iran can never obtain a nuclear weapon, the White House official said. 

Speaking to Reuters in an interview earlier in the day, Trump said he would also express his disgust with NATO for what he considers the alliance's lack of support for US objectives in Iran. 

A transatlantic rift during Trump's second term has deepened after European allies rebuffed his request to help maintain safe passage for oil traffic through the Strait of Hormuz. 

He said he was "absolutely" considering withdrawing the US from NATO, a treaty organization ratified by the US Senate in 1949.

Trump added that, while the US would be out of Iran "pretty quickly", the military could return for "spot hits" as needed.

TO ESCALATE, OR DE-ESCALATE?

Public polling shows that the war is broadly unpopular, particularly with independent voters, and Trump's allies have called for the administration to present a clearer and more consistent rationale for the conflict to voters. 

In a Reuters/Ipsos survey conducted Friday through Sunday, 60 per cent of voters said they disapproved of the war, while 35 per cent approved. 

Some 66 per cent of respondents said the US should work to end its involvement in the war quickly, even if that means not achieving the goals set out by the administration. 

Trump, meanwhile, has flirted with options both to escalate and de-escalate the conflict and his next moves are unclear, even to some close advisers. 

Administration officials have floated a daring operation to physically seize Iran's remaining stockpiles of highly enriched uranium, as well as ground operations to seize strategic pieces of land - including parts of Iran's coastline and Kharg Island, through which Iran exports the vast majority of its oil.

Thousands of additional troops continue to sail toward the Gulf region, indicating the president wants to keep his military options open.

At the same time, Trump has suggested he may walk away from the conflict, even if Iran declines to re-open the Strait of Hormuz.

There are indications he is keen to turn his attention elsewhere. 

On Wednesday morning, Trump visited the US Supreme Court to attend arguments over the legality of a policy he considers crucial to his hardline approach on immigration: a directive he signed last year that would limit birthright citizenship. It was the first time ever that a sitting president had attended oral arguments.

Back at the White House for an Easter lunch, Trump said in reference to the war against Iran that the administration was "pretty much winding that up".

"Have to take a few more hits," he said. 

One White House official said Vice President JD Vance had communicated with intermediaries from Pakistan about the Iran conflict ‌as recently as Tuesday, amid nascent efforts to seek a negotiated settlement. 

Trump has said those talks are going well, while Tehran has said there are no direct discussions going on at all. 

WASHINGTON: Donald Trump said Wednesday (Apr 1) that Iran's president had asked for a ceasefire but insisted that the Islamic republic must first reopen the Strait of Hormuz, ahead of a national address expected to touch on the state of the war.

Tehran denied that President Masoud Pezeshkian had sought a truce with Washington, and announced on Wednesday evening another barrage of missile and drone attacks targeting Israel and US bases in the Gulf.

The United States will consider a ceasefire "when Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion or, as they say, back to the stone ages!" Trump wrote on Truth Social.

The post came ahead of his 9.00pm (0100 GMT, Thursday) televised address, his first since US-Israeli strikes on Feb 28 sparked the war and a global energy crisis.

Tehran has said there are no ongoing negotiations to end the war, and AFP journalists reported massive explosions in the Iranian capital Wednesday.

Trump's tone has see-sawed between combative and conciliatory since the war began. On Tuesday, he said the month-long conflict could be over in "two weeks, maybe three".

Pezeshkian had previously said Iran had the "necessary will" for a ceasefire, but only if its foes guaranteed hostilities would not resume.

Ahead of Trump's address, Iran's president asked the people of the United States if the conflict was truly putting "America First", accusing Washington of war crimes and being influenced by Israel.

Iran's Revolutionary Guards vowed Wednesday to keep the Strait of Hormuz closed to the country's "enemies".

One-fifth of global oil normally passes through the narrow strait, and its effective closure has sent energy prices soaring.

The Guards also confirmed they hit an oil tanker in the Gulf that they said belonged to Israel. A British maritime security agency said the vessel was struck off Qatar, reporting damage but no casualties.

"RESIST TO THE END"

Iran's military said its latest missiles targeted Israeli cities including Tel Aviv and Eilat as well as US military facilities in Bahrain and Kuwait.

An AFP journalist reported huge explosions in Tehran on Wednesday afternoon and earlier strikes near the former US embassy.

Iran's new supreme leader Mojtaba Khamenei, who has not been seen publicly since his father was killed in an airstrike on the war's first day - said "the cruel and ruthless American and Zionist enemy knows no human, moral or vital limits".

Thousands of Iranians gathered in Tehran for the funeral of the Guards' naval commander, killed in an Israeli airstrike.

"We will resist until the end," said Moussa Nowruzi, a 57-year-old mourner.

Iranian media reported that former Iranian foreign minister Kamal Kharazi was seriously wounded in a strike that also killed his wife.

Iranian media also reported Wednesday that a passenger airport in Isfahan province and steel complexes in other parts of the country had been damaged in strikes.

The Israeli military confirmed it struck Tehran, while emergency services said an Iranian missile attack on Wednesday morning wounded 14 people, including an 11-year-old girl.

As Israel prepared for Passover, which began at sunset Wednesday, air-raid sirens warning of incoming missiles sounded repeatedly in the Tel Aviv area.

In Lebanon, seven people were killed in strikes around south Beirut, the health ministry said Wednesday, with the Israeli military saying it had struck a senior Hezbollah commander.

AFP correspondents at the scene saw a blackened, debris-strewn street.

Lebanon's health ministry said Israeli attacks had killed more than 1,300 people in the country since war erupted between Israel and Iran-backed Hezbollah on Mar 2.

Across the Gulf, strikes in Kuwait caused a large fire at its international airport, Bahrain reported a fire at a business facility, and Saudi Arabia said several drones were intercepted.

A Bangladeshi national was killed by falling shrapnel from an intercepted drone in the United Arab Emirates.

"Every day, we hear the sound of drones," said Waad Abdulrazaq, a 31-year-old truck driver near Iraq's Erbil international airport. "We hear them in the morning, and we hear them at night. We can no longer sleep or live in peace."

PRICES TURMOIL

Optimism sparked by Trump's comments on the timeline for the end of the war pushed oil prices down Wednesday, and stock markets rallied in Europe, Asia and the US.

But Iran's chokehold on Hormuz, through which Gulf oil and gas exports reach global markets, has sent energy prices soaring and unleashed global economic turmoil.

Average US gasoline prices topped US$4 a gallon for the first time in four years, European inflation spiked and governments began unveiling support measures.

"The additional diesel cost for me this month is EUR15,000, and we're not managing to pass all of that on," said Nicolas Barthes, a driver at a fuel price protest in the French city of Toulouse.

MANILA: The Philippines has sought safe passage for desperately needed oil shipments in a meeting with Iran, a presidential spokeswoman said on Wednesday (Apr 1), as the import-dependent archipelago jockeys with other regional countries for fuel.

The price of fuel has hit historic highs in the Philippines since treaty ally the United States and Israel launched strikes on Iran on Feb 28, with Tehran effectively closing the vital Strait of Hormuz to traffic since.

President Ferdinand Marcos declared a state of national energy emergency last week, later saying that "nothing was off the table" as the country of 116 million tried to meet its need for fuel.

On Wednesday, Foreign Secretary Theresa Lazaro said she had explored "key avenues for cooperation" in a meeting with Iranian ambassador Yousef Esmaeilzadeh that included the Philippines' energy secretary.

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"Building on the momentum of our Political Consultations last November 2025, we are committed to deepening our cooperation across all fronts, particularly energy cooperation," she said in a post on social media platform X.

Presidential spokeswoman Claire Castro later told reporters that Lazaro had sought safe passage through the strait for oil shipments bound for the Philippines.

"Secretary Lazaro requested that Iran formally designate (the Philippines) as a 'non-hostile country' and ensure safe passage for PH-flagged vessels and oil shipments," Castro told reporters via messaging app.

"This is vital for the protection of our seafarers and our energy supply."

She added the Iranian ambassador had been "awaiting our outreach and reaffirmed their strong willingness to assist the Philippines with our specific requests".

Lazaro was expected to speak with Iran's foreign minister on Thursday to formally secure those commitments, she said.

The Iranian embassy in Manila declined to comment on the meeting.

In a report to the Philippine stock exchange released Monday, the operator of the country's sole oil refinery said it had agreed to purchase Russian crude after seeing at least four million barrels in shipments cancelled since the start of the Middle East war.

Its purchase of 2.5 million barrels of Russian crude had been made out of "extreme necessity", the report from Petron Corp said.

AFP had previously reported that a tanker filled with Russian crude oil had arrived at the harbour servicing Petron's refinery, a purchase unthinkable before the United States eased sanctions tied to Moscow's war in Ukraine.

Wednesday's meeting between the Philippines and Iran comes just days after Malaysia announced its tankers would be permitted to pass through the Strait of Hormuz without paying any toll to Tehran.

MADRID: Spanish police said on Wednesday that they were investigating "Islamophobic and xenophobic" chants that were heard during the Spain-Egypt international football match in Barcelona, which the government said "embarrass us as a society".

Egypt's national anthem was also jeered ahead of the 0-0 draw on Tuesday in a pre-World Cup friendly, while authorities at La Liga side Espanyol's RCDE Stadium appealed to fans more than once over the public announcement system to refrain from making offensive comments.

It was the latest in a string of similar incidents to overshadow Spanish football in recent years, with Real Madrid's Brazilian attacker Vinicius Junior in particular repeatedly racially abused.

"We are investigating yesterday's Islamophobic and xenophobic chants at RCDE Stadium during the Spain-Egypt friendly match," Catalonia's regional police force, the Mossos d'Esquadra, wrote on X.

A section of supporters had chanted: "Whoever doesn't jump is Muslim."

One of Spain's starting players during Tuesday's match, forward Lamine Yamal who plays for Espanyol's city rivals Barcelona and is Muslim, slammed the chants as "a lack of respect and something intolerable".

"To those who sing these things: using a religion as a form of mockery on a pitch shows you up as ignorant and racist," he wrote on Instagram.

Justice Minister Felix Bolanos condemned the incident, saying that "racist insults and chants embarrass us as a society".

"The far right will not leave any space free from their hatred, and those who remain silent today will be complicit," he added on X.

"INTOLERABLE"

The Spanish Football Federation also condemned the incident, as did most major political parties.

But the leader of the far-right Vox party, Santiago Abascal, reposted a photo taken at the match of fans waving red and yellow Spanish flags along with the message: "Proud fans, proud country".

"When Spain plays, there's no room for doubts or division," the message added.

The game in Barcelona was moved from Qatar due to the war in the Middle East and was played out in a hostile environment from the start.

A message urging fans to stop xenophobic chants and remarks was displayed on the screen at half-time and read aloud by the stadium announcer at the ground.

The announcement was repeated early in the second half, prompting some sections of the crowd of 35,000 to respond with whistles.

"I don't know exactly what the protocol is, but I think it was the right decision to display the message on the screen and make the announcement," Spain coach Luis de la Fuente said after the match, calling the chants "intolerable".

"Violent people use football to carve out a space for themselves. They must be removed from society, identified, and kept as far away as possible," the 64-year-old added.

FIRST CONVICTION

Spain has struggled to stamp out racism at football matches.

Vinicius has become a lightning rod for racist abuse since arriving in the Spanish capital in 2018 from Brazilians Flamengo.

The 25-year-old has been targeted in many high-profile incidents, mostly within Spain.

In January 2023, Atletico Madrid fans hung an effigy of Vinicius from a bridge near Real Madrid's training ground.

In 2025, five Real Valladolid fans, who racially abused Vinicius in a 2022 match, were found guilty by a court of committing a hate crime - the first such ruling in Spain regarding insults at a football stadium.

There have been numerous other incidents, most recently Albacete fans singing a racist chant about the forward outside their stadium before knocking Real Madrid out of the Copa del Rey in January.

Spain's game with Egypt was a warm-up fixture for this summer's World Cup, with both nations qualified for the tournament in the United States, Canada and Mexico.

La Roja will face Cape Verde, Saudi Arabia and Uruguay in Group H, while Egypt are scheduled to play against Belgium, New Zealand and Iran in Group G.