April 3, 2026 • 6 min read
ZYMP Global News — April 3, 2026
Iran War Day 34: Tehran Strikes Kuwait Refinery as Conflict Shows No Sign of Easing
MIDDLE EAST
The US-Israeli war on Iran entered its 34th day on Friday with no ceasefire in sight, as Iranian drones sparked multiple fires at Kuwait’s Mina al-Ahmadi oil refinery in the early hours. Kuwait’s air defence systems intercepted incoming missiles and drones, according to the Kuwait News Agency, while sirens sounded in Bahrain warning of further Iranian attacks. Israel reported incoming missiles targeting Tel Aviv and Jerusalem overnight, leaving four people lightly wounded.
President Donald Trump vowed the United States would continue to hit Iran “extremely hard” for the next two to three weeks, claiming American forces were close to achieving their objectives. Despite assertions from Washington and Tel Aviv that Iran’s military capabilities have been largely destroyed, Tehran has continued to press attacks on Israel and Gulf Arab neighbours. The death toll has risen above 1,900 in Iran, with 19 reported dead in Israel, more than two dozen in Gulf states, and 13 US service members killed since the conflict began on 28 February.
Activists reported fresh strikes around Tehran and Isfahan early Friday, though targets were not immediately identified. The increasingly industrial nature of the strikes — targeting refineries, steel plants, and energy infrastructure — has raised fears of prolonged disruption to global energy supplies and deepening economic fallout far beyond the battlefield.
Strait of Hormuz Crisis Deepens as Oil Surges Past $109 and Global Trade Slows
GLOBAL ECONOMY
Brent crude spot prices climbed to approximately $109 per barrel early Friday, up more than 50 percent since the war began on 28 February, as Iran’s grip on the Strait of Hormuz continues to choke off roughly one-fifth of the world’s oil and natural gas supply. Ship transits through the vital waterway have collapsed by approximately 95 percent, falling from about 130 per day in February to single digits, according to the United Nations Conference on Trade and Development (UNCTAD).
In its second rapid assessment of the crisis, UNCTAD warned that the disruption is now feeding through the entire global economy — pushing up fuel and transport costs, slowing trade growth from 4.7 percent in 2025 to a projected 1.5–2.5 percent this year, and threatening a reduction in global GDP growth to 2.6 percent from 2.9 percent. Regions most dependent on Middle East energy imports, particularly South Asia and Europe, face the greatest exposure.
The International Energy Agency has separately warned that the oil supply crunch will intensify through April, while insurance and shipping costs continue to climb in tandem. Economists at Goldman Sachs, Moody’s Analytics, and other institutions have raised their odds of a global recession within the next 12 months.
UK Convenes 40-Nation Summit as UN Security Council Prepares to Vote on Hormuz Resolution
EUROPE / UNITED NATIONS
British Foreign Secretary Yvette Cooper chaired a virtual summit on Thursday with representatives from more than 40 countries — notably excluding the United States — to discuss diplomatic and economic measures to pressure Iran into reopening the Strait of Hormuz. Participants, including France, Germany, and Gulf states, explored “every possible diplomatic, economic and coordinated measure” short of military force to restore freedom of navigation through the waterway.
Separately, the United Nations Security Council was preparing to vote on a Bahraini-drafted resolution to protect commercial shipping in and around the strait. The original text would have authorised countries to “use all necessary means” to secure the waterway, but faced opposition from veto-wielding Russia, China, and France. French President Emmanuel Macron, speaking in South Korea, called the American expectation that Hormuz could be reopened by force “unrealistic,” arguing that a military operation would expose transiting vessels to continued threats from Iran’s Revolutionary Guard.
The dual diplomatic tracks — one led by London emphasising political pressure and sanctions, the other by Manama at the UN seeking legal authority for naval action — highlight growing international divisions over how to address the crisis as the economic toll mounts worldwide.
Trump Proposes Historic $1.5 Trillion Defense Budget Amid War and Economic Uncertainty
UNITED STATES
President Trump is preparing to submit his fiscal year 2027 budget request to Congress, anchored by a proposed increase in defense spending to $1.5 trillion — up from less than $1 trillion in the current fiscal year. The request also includes a $19 billion increase for law enforcement and immigration enforcement, alongside deep cuts to non-defence domestic programmes including health research and low-income housing support.
The budget proposal, expected as early as Friday, is being framed as a message to voters ahead of the 2026 midterm elections, emphasising military strength and border security. However, Trump faces potential resistance from within his own party over envisioned cuts to health and science agencies that Congress rejected on a bipartisan basis last year. The New York Times reports the proposal represents some of the deepest spending cuts in the modern era, seeking to curtail or eliminate entire federal programmes.
Meanwhile, the March jobs report due Friday is expected to show nonfarm payroll gains of approximately 59,000 — an anaemic figure by historical standards but enough to keep the unemployment rate steady at 4.4 percent. Economists note that the labour market has been running on empty for months, with immigration restrictions, shifting demographics, and geopolitical uncertainty leaving companies reluctant to hire or fire.
Apple Celebrates 50th Anniversary with Global Events and Paul McCartney Concert at Apple Park
TECHNOLOGY
Apple marked its 50th anniversary on 1 April, five decades after Steve Jobs, Steve Wozniak, and Ronald Wayne founded the company in a Los Altos garage on 1 April 1976. The milestone was celebrated with events at Apple retail stores around the world throughout March and April, featuring special displays, exclusive merchandise, and community gatherings honouring the company’s journey from a bare circuit board to a $3 trillion technology empire.
The celebrations culminated with a private concert at Apple Park in Cupertino, where Paul McCartney performed a career-spanning set for Apple employees. The former Beatle’s appearance carried symbolic weight — the band’s legacy with Apple Corps having been a cultural touchstone for the company’s own brand mythology. Additional anniversary events have been announced for three more countries as the festivities continue.
From the original Apple I to the Macintosh, iPod, iPhone, iPad, Apple Watch, and AirPods — as well as the services ecosystem that now generates tens of billions annually — Apple’s half-century has reshaped how billions of people communicate, work, and consume media. The company used the anniversary to launch a dedicated “50 Years of Thinking Different” retrospective on its website.
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