When will America and Israel end their war with Iran? Yesterday Donald Trump gave some (admittedly vague) hints that reassured jittery markets. But much depends on whether Mr Trump and Binyamin Netanyahu, Israel’s leader, still share the same war aims. The two countries’ goals are starting to diverge.

The conflict has caused oil and gas prices to swing wildly. On today’s Inside Economics our editors will dissect the energy crisis. Watch it on the Insider hub and on our app at 6pm London time.

And as Europe’s population has aged, its pensions have come under severe strain. Workers hand over more in contributions, and taxpayers have plugged the remaining shortfall. At the same time, the continent’s capital markets punch below their weight, restricting innovation. Our leader argues for one reform that could boost growth and ease the burden on the public purse. 

Finally, some of you may have received yesterday’s Economist Today newsletter twice. That was a mistake, sorry.