Geopolitical tensions spike energy markets as Middle East conflict escalates. Israeli military operations near Lebanon have triggered evacuation orders, while ADNOC priced Murban crude at $104.44 per barrel, reflecting heightened risk premiums. Europe's economic divergence widened sharply, with Sweden slipping into deflation at negative 0.1 percent year-over-year, contrasting starkly against Germany's wholesale prices surging 6.3 percent annually. Shipping giant Hapag-Lloyd reported a first-quarter EBIT loss of 134 million euros on 4.2 billion euros in revenue, though management maintained full-year EBITDA guidance between 900 million and 2.6 billion euros. Political uncertainty also mounted as UK Prime Minister Keir Starmer faces mounting pressure from Labour unions predicting his departure before the next election.
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