The World in Brief from The Economist

The price of Brent crude, the global oil benchmark, soared past $125 a barrel—its highest level since 2022—before falling. Also, the Pentagon revealed that the war with Iran has cost America $25 billion so far.

Meta reported revenues of $56.3bn in the first quarter, up 33% year on year and ahead of expectations.

Meta reported revenues of $56.3bn in the first quarter, up 33% year on year and ahead of expectations; Jerome Powell said he had “no choice” but to remain on the Federal Reserve’s board until the Justice Department’s criminal investigation into America’s central bank was “well and truly over”

Donald Trump claimed King Charles III “agrees with me even more than I do” that Iran should not have a nuclear weapon. Also, regulators charged Meta with breaking EU law by failing to prevent children under the age of 13 from using its platforms.

The United Arab Emirates said it would leave the Organisation of Petroleum Exporting Countries on May 1st, after six decades of membership.

The United Arab Emirates said it would leave the Organisation of Petroleum Exporting Countries on May 1st, after six decades of membership; In a speech to America’s Congress, King Charles III sought to salvage the countries’ battered “special relationship”, saying ties were “more important” than ever and that global challenges were “too great for any one nation to bear alone”.

America’s secretary of state dismissed as “unacceptable” a new proposal by Iran to end the war. Also, Hizbullah’s leader ruled out giving up its weapons under any deal with Israel

China blocked Meta’s $2bn acquisition of Manus, an artificial-intelligence startup, ordering both firms to cancel the transaction.