Keir Starmer to hold major COBRA meeting tomorrow as WW3 inches closer

 Keir Starmer is set to preside over an urgent COBRA meeting this week with senior ministers regarding the cost of living crisis. It follows the Prime Minister's pledge to protect Brits from the economic impact of the US-Israeli conflict with Iran.

The meeting, scheduled for Monday, will be attended by Bank of England governor Andrew Bailey. US President Donald Trump has issued a 48-hour ultimatum to Tehran to fully open the crucial Strait of Hormuz - as missiles and drones obstruct global oil supplies in the region.

Trump threatened the regime that he would "obliterate their various power plants" if they failed to comply.

Posting on Truth Social, he said: "If Iran doesn't FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST..." - President DONALD J. TRUMP."

The Prime Minister last convened a Cobra meeting on Thursday where the domestic repercussions of the Iran war were the main focus, reports the Mirror.

Earlier, an energy chief warned that price hikes may be "inescapable" if the Middle East conflict continues.

On Sunday, the CEO of Centrica, the parent company of British Gas, revealed that global oil supplies have dropped by 20 per cent due to the conflict.

Chris O'Shea told BBC's Sunday With Laura Kuenssberg programme: "Cornwall Insight, I think, have predicted that there's going to be an increase in prices. If it stays as it is then I think that's inescapable.

"The world uses about 100 million barrels of oil a day. We've lost about 20 per cent of that through the Strait of Hormuz."

However, Cabinet minister Steve Reed revealed there is a backup plan in place, but encouraged people to "buy their fuel just like they always would".

He told Sky News' Sunday Morning with Trevor Phillips: "There's no need to ration fuel. People should go around and buy their fuel just like they always would.

"If the situation were to change, then the government would look at what was required in that circumstance.

"We did intervene when it came to heating oil, because we saw the prices escalating and people were seeing their bills doubling and tripling overnight. We can't have that, so we stepped in to support people."