| The shock decision by OPEC+ to cut 1.1 million barrels (on top of Russia's 500 million barrel cut last month) could have an effect on two major political events, the US presidential race and our own general election here in the UK. The cut has already seen oil stocks leap with Shell and BP pushing the FTSE 100 higher on Monday — by 4 pm the two were accounting for all of the benchmark's 0.5% advance. While oil prices were lower than post-Ukraine invasion highs with unleaded fuel down 30%, as Kristine Aquino says: "The weekend's decision may increase fears that trend will reverse complicating a long-hoped for fall in global inflation rates." Analysts at Goldman Sachs think Brent crude might return to $100 a barrel by the end of 2024. For the markets that means investors looking for which "assets will benefit from a higher-for-longer inflation world." But for politics? What will its effect be on prices, and so inflation, and so the PM's pledge to halve inflation within the year. Remember just three weeks ago the UK saw a budget moored to the prediction inflation would be down close to 3% by the Autumn. Anything that drives that in the opposite direction is general election critical. But it's America where President Biden, poised to launch his election campaign, "has taken ownership of gasoline prices in ways other presidents before him have not," as Bloomberg's Ari Natter puts it. Even so, as Ari says, Biden has limited options: Another release of oil from the strategic petroleum reserve (that he had been wanting to build back up); pressure on the US energy sector to pump more (already largely ignored over the last year); return to the dramatic idea of suing OPEC nations (rejected last year as undiplomatic); export curbs to keep oil and gas in the US. And then the last option. Do nothing. Over on Bloomberg Opinion, David Fickling looks at what might be driving the decision by the OPEC+ countries and argues we're seeing something quite profound afoot: "What does it look like when the world's biggest oil producers capitulate to the decline of their key product? We're seeing it today." Fickling argues that Saudi Arabia's move suggests they actually have "little confidence in oil demand," pointing out recently there has been a flurry of investments in the Kingdom on "everything except crude output" (a green hydrogen plant, a tourist facility and so on.) He argues the cut implies oil producing nations do not think demand for oil is likely to surge higher at the back end of this year: "Most had been expecting the current sluggish conditions, which drove Brent crude to a 15-month low March 19, would be replaced by voracious appetites from consumers in the second half of the year as air and road traffic finally recovered to pre-pandemic levels…Those conditions should in theory be sufficient to juice prices all on their own without any intervention from OPEC, with declining inventories leading to a rush for remaining supplies. It seems now that ministers from the Organization of the Petroleum Exporting Countries don't see it that way. "
Twenty years ago, dining spots that adhered to Islamic traditions around the UK's capital were typically Middle Eastern or Indian. Now you can find almost anything, from pepperoni pizza to Filipino-accented ramen bowls, reports Siraj Datoo. Ramadan is being celebrated throughout London in a big way.  A selection of food at Dishoom, a popular place to break Ramadan fasts in London Photographer: Dishoom/Handout | 
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