Economy

Oil prices have surged to their highest level in more than a year, driven by supply disruptions linked to the US–Israel conflict with Iran. Production in Iraq has dropped sharply, adding pressure to global markets. The rapid rise in both WTI and Brent crude highlights growing concerns about the stability of oil supplies.

TUI has repatriated 250 stranded tourists to Hanover after tensions in the Middle East disrupted air travel. The flights brought travellers from the United Arab Emirates back to Europe, while hundreds of Dutch passengers are still waiting to return home.

Emirates has halted all flights to and from Dubai, just a day after announcing plans to resume services. KLM has also delayed its return to several Middle Eastern destinations due to the conflict in Iran. Both airlines say they are monitoring the situation closely as regional airspace remains restricted.

The eurozone economy grew slightly slower than expected in the final quarter of last year, with Eurostat revising growth down to 0.2% from an initial estimate of 0.3%. This adjustment also nudged the annual growth for 2025 down to 1.2%, as the wider European Union saw a similar quarterly increase. While the European Central Bank (ECB) had forecast a steady recovery for 2026, those projections are now clouded by the conflict in the Middle East. Analysts warn that rising energy prices could reignite inflation and dampen future growth, making the road to economic stability more uncertain than previously anticipated.

A major new housing project has broken move-in ground in Eindhoven, bringing 400 energy-efficient homes to the Gestel district. Supported by funding from the city and ASML, the development will transform a former school site into a mix of affordable rentals and private housing.

After an EU justice ministers’ meeting in Brussels, Justice Minister David van Weel warned the Netherlands is vigilant about likely Iranian cyberattacks that could target US and Israeli interests and possibly spread to other targets.

A new initiative in the Brainport region is training hundreds of asylum seekers for high-demand jobs in the local semiconductor industry. The program combines technical skills with specialized language coaching to help newcomers fill thousands of vacancies in the thriving Brainport region.

The ECB is on guard about the impact of the Middle East conflict on eurozone inflation amid sharply rising oil and gas prices. Policymakers call the situation volatile and say it is too early to judge the implications for future rate decisions; the bank is expected to hold rates at its next meeting.