A power outage struck the London Underground, causing widespread travel disruptions across the capital on Monday afternoon, Transport for London (TfL) confirmed.
TfL said the issues had been caused by a short power outage which happened at about 14:30 local time, leaving some passengers potentially stranded in train carriages within tunnels.
Power has since been restored, but delays and suspensions in major lines are ongoing, according to TfL.
By Monday evening, services on the London Underground began to gradually resume following the incident. The UK National Grid attributed the disruption to a "cable fault" on the transmission network in central London.
"I was working overtime until 6:00 [p.m.], and then because of the problems on the district line as well, it meant that I had to do a half an hour extra of overtime in order to make sure I could get back home. It seems like it was quite a big incident," said Jack, a resident.
The disruption marks another instance of the UK's transportation infrastructure facing challenges. In late March, London's Heathrow Airport grappled with a closure due to a power outage, resulting in the cancellation of numerous flights and leaving over 200,000 passengers stranded.
Power outage hits London Underground as lines suspended
Power outage hits London Underground as lines suspended
Power outage hits London Underground as lines suspended
U.S. stocks sank on Thursday as an escalating conflict in the Middle East and a renewed surge in oil prices weighed heavily on Wall Street.
The Dow Jones Industrial Average fell 1.61 percent to 47,954.74. The S and P 500 sank 0.56 percent to 6,830.71. The Nasdaq Composite Index shed 0.26 percent to 22,748.99.
Eight of the 11 primary S and P 500 sectors ended in the red, with consumer staples and materials leading the laggards by dropping 2.43 percent and 2.27 percent, respectively. Energy and technology led the gainers by adding 0.59 percent and 0.39 percent, respectively.
Oil prices jumped significantly after Iran announced it had struck an oil tanker with a missile. U.S. benchmark West Texas Intermediate crude futures for April delivery surged 8.51 percent to settle over 81 U.S. dollars per barrel, reaching their highest level since July 2024. International benchmark Brent crude futures for May delivery advanced 4.93 percent, trading above 85 dollars per barrel. These sharp upward movements in energy markets drove major swings across equities throughout the trading session.
As Iran is the fourth-largest producer in the Organization of the Petroleum Exporting Countries, concerns are mounting that the conflict's impact on production capabilities could have wide-ranging effects across global commodities. The soaring energy prices have also sparked fears among investors that persistent inflationary pressures might force the Federal Reserve to re-evaluate its anticipated interest rate cuts in an already volatile market environment.
In the bond market, the yield on the benchmark 10-year U.S. Treasury note climbed to near 4.14 percent, up from Wednesday's close of approximately 4.1 percent. The yield, which heavily influences consumer borrowing costs across the broader economy, has risen consecutively every day this week after ending the previous week at 3.95 percent.
In corporate developments, Advanced Micro Devices lost 1.3 percent following a report that the U.S. government drafted rules restricting AI chip shipments without its approval.
Conversely, telecommunications equipment provider Ciena dropped 12.88 percent, and StubHub retreated 12.39 percent. Costco Wholesale, which is scheduled to report its quarterly results after the market closes, fell 2.4 percent during regular trading hours.
On the economic calendar, Friday features a highly anticipated monthly jobs report, offering investors another read on the labor market's health.
U.S. stocks sink as Middle East tensions trigger oil price surge
