Iran’s closure of the Strait of Hormuz has dealt a blow to energy markets. But the strait is not the world’s only maritime pinch-point, or even its busiest or oiliest. We gauge the vulnerability of seaborne trade to the others, from the Strait of Malacca to the Panama Canal.

And we have a report on the state of America’s intelligence community. Morale is high, the CIA director declared last week. In fact, facing revenge-driven purges and chaotic leadership, “morale is in the toilet,” one source insisted.

In the latest Insider, Christine Lagarde, the president of the European Central Bank, takes a sober view of the impact of the energy shock and opines on Europe’s role in a much-changed world. You can watch it now, on the hub.

$2.3bn, the value of De Beers, a diamond company, down from $12.75bn in 2011. Read about why Botswana’s effort to buy a bigger chunk of De Beers could backfire.