Shipping through the Strait of Hormuz remains at a standstill, sales of used electric vehicles are surging in the US, and the International Monetary Fund is warning that the war’s shocks will be felt by the global economy for a while. Plus, the FT’s Marton Dunai gives a rundown of the upcoming Hungarian elections.

Mentioned in this podcast:

OECD urges governments to rapidly unwind costly fuel duty cuts

Refineries rush to secure oil cargoes as Iran maintains grip on Hormuz

Sales of used EVs surge in US as petrol prices pass $4 a gallon

Who is Péter Magyar, Viktor Orbán’s nemesis?

Donald Trump and JD Vance back Viktor Orbán ahead of Hungary’s election

Credit: AP Archive, C-SPAN, Reuters

Note: The FT does not use generative AI to voice its podcasts

Today’s FT News Briefing was hosted by Victoria Craig, and produced by Saffeya Ahmed and Sonja Hutson. Our show was mixed by Sam Giovinco. Additional help from Gavin Kallmann. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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US-Iran war boosts used electric vehicle sales

FT News Briefing