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Trump threatens new attack after Iran closes Hormuz again
Prices of oil rose on Monday as shipping through the Strait of Hormuz was slowed, and talks between U.S. officials and Iranian officials in their first meeting pursuant to an interim "peace" deal got off to a rocky start. Brent crude futures rose 54 cents, or 0.67% to $81.11 per barrel at 0030 GMT after reaching a high price of $82.30 when trading began. The U.S. West Texas Intermediate Crude Futures contract was trading at $78.62 per barrel, an increase of $2.02 or 2.64%, ahead of its expiration later that day. The August contract, which is the most active, rose $1.43 a barrel to $77.28. Due to the holiday, there was no settlement on Friday in the U.S. Shipping data shows that the number of ships passing the Strait of Hormuz dropped sharply after Iran closed the waterway again, citing Israelis and Americans for violating the interim peace agreement. MST Marquee's head of energy analysis,?Saul Kavonic, said that the market had been expecting the Strait to open. "Iran will continue to find excuses to stymie the flow of traffic through the Strait as that is their only leverage into the midterms, which they are not likely to give up." U.S. president Donald Trump has threatened to resume attacking Iran, even as U.S. vice president JD Vance met Iranian representatives on Sunday for the initial talks under an interim deal. Meanwhile, Tehran claimed that the U.S. failed to fulfill its commitment to stop fighting in Lebanon. Israeli strikes in Lebanon have killed at least twenty people, according to Lebanon's official news agency NNA, one day after Hezbollah and Israel agreed to a ceasefire, which was meant as a way of stopping months of violence. Tony Sycamore, IG's market analyst, said in a?note that the situation in Lebanon is a recurring threat to the ceasefire as well as the reopening the Strait. Oil prices dropped by more than 8% in the last week, despite the expectation of increased supply due to the release of cargoes stranded within the Gulf of Mexico and the potential lifting of U.S. oil sanctions against Iran as part of a U.S. Iran?deal. The head of the National Iranian Oil Company (NIOC),?Hamid Bouvard, said on Sunday that over 25 million barrels have been passed through the virtual blocking line since Monday. In the last week, Kuwait, Iraq and the United Arab Emirates have all?offered customers more oil. Iraq will gradually restore crude oil production to between 4.2 and 4.3 millions barrels per day. The Iraqi deputy oil minister responsible for upstream matters said this in a Sunday statement.
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Europe braces itself for a prolonged heatwave with temperatures approaching 40C
The heatwave that swept across Europe Sunday was so severe, temperatures reached as high as 40 degrees Celsius (104 Fahrenheit), causing transport disruptions and widespread warnings. The extreme heat on June 21, also known as the "summer solstice" in the northern hemisphere, and the beginning of the hottest three months of the year raised fears of a persistent and early onset of extreme weather conditions. Italian authorities have issued a red warning for the 21st of June in eight cities including Bologna. Florence, Milan and Turin. The Pope, who was leading a Sunday tradition from a window in the Apostolic Palace, led the traditional prayer by the pilgrims on St Peter's Square. A mass of hot, dry air is moving north from the Sahara. This is fueled by the so-called "African anticyclone," a high-pressure system. Meteorologists claim that the system creates a "heat dome" which traps hot air in western and central Europe, allowing temperatures to rise day after day. Madrid residents and tourists cooled themselves with cold drinks and fans as they browsed through the famous El Rastro flea market. Haily San Cezar, a 22 year old engineer from Miami, said: "I wear all white because it is so hot and I carry my small electric fan with me everywhere I go." The Spanish weather agency AEMET issued red and yellow alerts in several regions warning that temperatures could exceed 39 to 40 C throughout the Iberian Peninsula, Mallorca and other parts of Spain. They also said the heatwave was expected to last until at least mid-week. Trains cancelled in France Extreme heat is causing infrastructure to be disrupted. Jean Castex, SNCF's chief of operations in Paris, said that the high temperatures were "strongly affecting" the rail network. The temperature was so high that it could damage overhead power lines or expand tracks. He stated that 3,500 employees had been?mobilised for the monitoring of the network, and another 2,000 would be performing emergency repairs. He advised passengers who were vulnerable to postpone their travel. 71 intercity train services on important routes have been cancelled by the operator until Monday. The DWD weather service in Germany warned that severe thunderstorms could occur in the east, including Berlin. Heavy rain disrupted an open-air music festival. The Berlin Open was evacuated due to heavy rains and strong winds. Fans were waiting for the?singles' final between Jessica Pegula from the U.S.A. and Linda Noskova from the Czech Republic. Heat Stress on?Nestlings The pressure on wildlife rescuers is also increasing. In recent days, a centre near Namur in Belgium has taken in 150 animals that are heat stressed. Young birds are particularly at risk. Romain Dejaegere of?CREAVES said that nestlings would rather jump than "let themselves die" and cook in their nests. He added that all centres in Belgium were overcrowded. Experts believe that the heatwaves are part of a larger trend. Climate change is causing more heatwaves to occur in Europe. Reporting by Giselda Vasgnoni, Lewis Macdonald and Dominique Vidalon, in Paris; Sergio Leon, Graham Keely and Elena Rodriguez, in Madrid; Rachel More, in Berlin. Editing by Alexandra Hudson.
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US negotiators in Switzerland dispute Iranian claims that the Strait of Hormuz will be closed.
On Sunday, the United States and Iran will begin 'peace talks' in Switzerland. U.S. officials have disputed Iranian claims that the Strait of Hormuz is closed. Iranian state media reported that high-level Iranian officials arrived in Switzerland to hold peace talks with the U.S. The U.S. and Iran had agreed on a 60-day truce while negotiations are taking place. However, the Islamic Revolutionary Guard Corps of Iran declared the Strait of Hormuz closed, despite the U.S. Military stating that commercial vessels have continued to operate in the waterway. These developments could complicate negotiations between the two sides to implement an interim agreement brokered by Pakistan, and signed by Masoud Peshkian and Donald Trump on Wednesday to end their nearly four-month conflict. STRAIT OF HORMUD, LEBANON RETAINS FLASHPOINTS The IRGC, citing what it termed Israeli "crimes" committed in Lebanon, which violated U.S. agreements to a ceasefire agreement, warned that ships could be put at risk if approaching the Strait - a vital conduit of global oil and natural gas supplies. U.S. Central Command reported that 55 merchant ships passed through the Strait with 17 million barrels worth of oil bound for global markets. Central Command has said that U.S. troops will continue to ensure that commercial traffic is maintained. Trump said that no tolls would be levied for the passage of ships through the strait, during or after the ceasefire period. This is unless the U.S. decides to impose one if peace talks fail. In a post on social media, Trump mentioned the possibility that the United States could impose a toll "for the services rendered as the Guardian Angel for the countries of Middle East" in the event a peace agreement is not completed. Mohammad Mokhber is an advisor to Iran's Supreme Leader, Ayatollah Mojtaba Khamenei. He accused the U.S. He stated that as long as there was no agreement, the flow of energy from the Middle East would be stopped. Israeli forces and Hezbollah, a militant group backed by Iran, began to clash. Iranian media reported that the Iranian delegation, led by chief negotiator Mohammad Baqer Qalibaf, includes Foreign Minister Abbas Araqchi, as well as senior officials from security, central bank, and oil. The U.S. team also includes Steve Witkoff, Trump's daughter-in-law, and Jared Kushner. Esmaeil baghaei, spokesperson for the Iranian Foreign Ministry, said Iran will press Switzerland to fulfill commitments. He cited past failures of the other side in honouring agreements. The Pakistani Ministry of Foreign Affairs announced that Shehbaz Shaif, Prime Minister Shehbaz, and Field Marshal Syed Asim Munir will be attending this weekend's session. In an interview with Fox News Vance said that he was confident that the ceasefire will hold, and that he did not see any evidence that the Strait of Hormuz had been closed. After 4 pm, the U.S. Vice President left for Switzerland. Saturday, 2100 GMT (2100 ET) He told reporters that the negotiations would probably last a couple of days before they boarded a plane from Joint Base Andrews in Maryland. He said, "I hope we will make progress in the nuclear issue and the ceasefire issue in Lebanon." ISRAEL PROMISES TO DEFEND IT'S FORCES IN LEBANON The U.S. and Iran agreed that a halt in fighting in Lebanon would be a condition for the start of talks about Tehran's nuclear program, among other things. Lebanese Civil Defence reported that 20 people were killed by Israeli strikes on Lebanon Saturday, just hours after the truce was declared. Israel responded to Hezbollah's attacks, but the Iran-backed militants said they would not allow Israel "freedom" of movement in Lebanon. Israel claims that it is not a party to the Iran/U.S. agreement and will continue to keep its forces on the Lebanese land they occupy. Israel's military said that it was committed to the ceasefire, but would still continue to take action against any threats to Israel or its forces. Channel 12 in Israel reported that Prime Minister Benjamin Netanyahu and the minister of defence had ordered the military not to withdraw from the areas they had taken. According to a poll conducted by Israel's Hebrew University and shared with, 92% of Israelis think Iran has benefited more than Israel from the joint Israeli-U.S. campaign, while only 8% believe Israel came out victorious. Nearly 90% of Israelis believe that the war's goals were not achieved and over 70% don't believe Benjamin Netanyahu when he claims there were significant achievements. Lebanon's NNA state news agency reported that Israeli?warplanes? and drones? had attacked locations in southern Lebanon and Bekaa Valley, both Hezbollah strongholds? on Saturday. A senior Israeli military official reported that Hezbollah had fired over 50 projectiles overnight at Israeli forces south of Lebanon, and Israel had responded by attacking what it called Hezbollah-targets. Lebanon's Health Ministry says that 4,057 people, including women, children and medics, have died in Israeli attacks between March 2 and now, but it doesn't specify how many were combatants. According to Israeli authorities, at least 32 soldiers as well as four civilians were killed during the fighting between Hezbollah and Israel.
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Australia reduces household costs by extending the fuel excise tax relief
Australia's Prime Minister Anthony Albanese announced on Sunday that the fuel excise will be extended for an additional month. The country is still battling with high fuel costs due to the war in Iran. Albanese, in a statement, said that the government "would extend fuel excise relief to another month. This would make petrol and diesel 16c per litre less than normal prices for July. Australians will save around A$11 for each tank". He said that the temporary assistance would help Australians cope with their cost of living and ease the pain caused by high petrol prices. To help families cope with the higher fuel prices resulting from the Middle East war, the centre-left government has already reduced the excise tax on diesel and fuel for three months. The announcement on Sunday followed a decision made last month to extend the measure that allows petrol and diesel to be released from domestic reserves until September. The measure was set to expire on July. Australia, which imports the majority of its fuel, experienced localised shortages when the U.S. and Israel war against 'Iran broke out in February. Before the war, 20% of world oil was transported through the Strait of Hormuz. Albanese made televised comments on Sunday. "We know?that families are under pressure and we know?that the impact?of this conflict?on the?otherside of the world?will have a... long economic tail," he said. (Reporting from Sam McKeith, Sydney; Editing done by David Gregorio).
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US negotiators in Switzerland dispute Iranian claims that the Strait of Hormuz will be closed.
On Sunday, the United States and Iran will begin peace talks in Switzerland. U.S. officials have disputed Iranian claims that the Strait of Hormuz is closed. Iran's state-run media reported that a high-level Iranian delegation had arrived in Switzerland to begin peace talks with the U.S. JD Vance, U.S. vice president, left Washington on Saturday for meetings Pakistan has said will start Sunday. The U.S. and Iran had agreed to a ceasefire for 60 days while negotiations are taking place. However, the Islamic Revolutionary Guard Corps of Iran declared the Strait of Hormuz closed on Saturday, despite the U.S. Military stating that commercial vessels continued to operate in the waterway. These developments could complicate negotiations between the two sides to progress an interim agreement brokered by Pakistan, and signed by U.S. president Donald Trump and Iranian president Masoud Peshkian on Wednesday to end their nearly four-month conflict. The IRGC, citing what it termed Israeli "crimes" that had violated U.S. agreements to a ceasefire in Lebanon, warned that ships could be put at risk if approaching the Strait - a vital conduit of global oil and natural gas supplies. U.S. Central Command reported that 55 merchant ships passed through the Strait on Saturday, carrying more than 17,000,000 barrels of crude oil bound for global markets. Central Command said that U.S. troops will continue to ensure that commercial traffic is maintained. In a post on social media, Trump wrote on Saturday that there will be no toll for the passage of ships through the?Strait before or after the ceasefire period of 60 days -- unless the U.S. imposes a toll if peace talks fail. Trump has left the door open to the possibility that the United States could impose a Hormuz tax "for the services rendered to the Middle East countries as the Guardian Angel" if the peace deal isn't completed. Mohammad Mokhber is an advisor to the Iranian Supreme Leader Ayatollah Mojtaba Khamenei. He accused the U.S. He stated that the Middle East's energy flow would be halted as long as there was no?agreement on paper. The truce in Lebanon appeared fragile, as Israeli forces and Hezbollah, a militant group backed by Iran, attacked each other. ENERGY BUILDING FOR U.S.IRAN TALKS?IN SWITZERLAND According to Iranian media, the Iranian delegation included Abbas Araqchi, Foreign Minister, as well as officials from central bank, oil, and security. The U.S. team also includes Steve Witkoff, Trump's daughter-in-law, and Jared Kushner. Esmaeil baghaei, spokesperson for the Iranian Foreign Ministry, said Iran will press Switzerland to fulfill commitments. He cited past failures of the other side in honouring agreements. In an interview with Fox News Vance said that he was confident that the ceasefire will hold and that he did not see any evidence that the Strait of Hormuz had been closed. After 4 pm, the U.S. Vice President left for Switzerland. ET (2100 GMT), Saturday. Vance, speaking to reporters at Joint Base Andrews before boarding his plane in Maryland, said that the negotiations would probably last "a couple of days". He said, "I hope we will make progress?on the issue of the nuclear program and the ceasefire in Lebanon." The U.S. and Iran agreed that a halt in fighting in Lebanon would be a condition for the start of talks about Tehran's nuclear program, among other things. Lebanese Civil Defence reported that Israeli airstrikes in Lebanon killed 20 people on Saturday, just hours after the ceasefire took effect. Israel claimed that it was responding to Hezbollah's attacks, while the Iran backed group stated that they would not allow Israel to have "freedom of movements" in Lebanon. Israel, which was left out of the talks and has not signed the Iran-U.S. agreement, said that it will keep its troops in the Lebanese territories it occupies. Channel 12 in Israel reported that Prime Minister Benjamin Netanyahu and Defense Minister Ariel Sharon had instructed their military to stop firing on Lebanon but not to withdraw from the areas they had taken. In a poll conducted by the Israeli Hebrew University, 92% of Israelis believed that Iran gained more from the joint Israeli and U.S. military campaigns than Israel. Only 8% of Israelis thought Israel had won. Nearly 90% of Israelis believe that the goals of the conflict were not achieved and over 70% do not believe Netanyahu's claims of major accomplishments. Lebanon's NNA state news agency reported that Israeli drones and warplanes struck Hezbollah-held areas in southern Lebanon on Saturday. A senior Israeli military official claimed that Hezbollah had fired more than 50 projectiles overnight at Israeli forces located in southern Lebanon, and Israel responded by attacking what it called Hezbollah's targets. Israel's military said that it was committed to a ceasefire, but that they would continue to take action against any threats to Israel or their forces. Lebanon's Health Ministry says that 4,057 people, including women, children and medics, have died in Israeli attacks between March 2 and now, but it doesn't specify how many were combatants. According to Israeli authorities, at least 32 soldiers as well as four civilians were killed during the fighting with Hezbollah.
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Zelenskiy, Ukraine's Zelenskiy, confirms drone attack on refinery facilities in Russia's Tyumen Region
Volodymyr Zelenskiy, the Ukrainian president, said that Ukrainian drones struck an oil refinery in Russia's Tyumen Region, located in western Siberia. This was more than 2,000 kilometers (1,200 miles), from Ukraine. He said that Ukraine has also developed long-range drones with a range of more than 3,000 kilometers. In his video message, Zelenskiy thanked the Ukrainian military's special forces for reaching Tyumen Region, Russia, and a?oil refinery. More than 2,000 kilometers from our state boundary. "This is effective work." Ukraine's military is engaged in a long-term campaign of?strikes against Russian targets. The focus has primarily been on the oil industry, in order to stop Moscow's ability to fund the war. Alexander Moor said earlier that Russian air defences had repelled an attack by drones on the oil refinery. According to him, preliminary reports indicate that there were no damages and the staff was evacuated. It has an annual nominal capacity of around 8 million tons. According to estimates, it processes approximately 6 million tons of crude oil annually and produces 0.5 million tons gasoline and 2.5 millions tons diesel. Zelenskiy said that the modernised, long-range drones have also been "successfully deployed". He said, "They are now able to reach targets at a distance of up to 3,000 km." This is a 'completely justified response to Russian attacks against our state. Ukraine is implementing its plan for long-range operations." Reporting by Ron Popeski, Oleksandr Kozoukhar and Editing by Franklin Paul
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The Russian-owned Zaporizhzhia Nuclear Plant says that external power connection has been restored
The Zaporizhzhia?power station in southeast Ukraine, which is occupied by Russia, announced?on Saturday?that?external?power?had been restored. For a while the station was forced to rely solely on diesel generation. The plant's Russian management released a statement on Telegram saying that the plant is operating normally after the return to external power. Radiation levels were normal. International Atomic Energy Agency (IAEA), the U.N.'s nuclear watchdog?also reported that?the external?line?was restored after a 4-1/2-hour break. The Ukraine Energy Ministry stated that Russian military activity is responsible for the disconnections. This is the 20th time since Russia began its full-scale invasion of Ukraine in February 2022. The plant is Europe's biggest with six reactors. It produces no electricity but requires power from?two external links? to keep the nuclear fuel cool. The plant was seized by Russia in the first weeks of the conflict. Since then, both sides have accused each other of military actions that compromise nuclear safety. Reporting by Devika Nir in Bengaluru. Mark Potter, Ron Popeski, and Franklin Paul edited the report.
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Spain feels the heat as Madrid World Cup Fan Zone is cancelled
A fan zone in Madrid was cancelled because of the forecast high temperatures. The Spanish Football Federation (RFEF), in collaboration with the city of Madrid, transformed Plaza de 'Colon into a large fan meeting place called Plaza Seleccion. Here, fans could watch Spain’s?World Cup games on large screens. The Spanish football federation (RFEF) turned Plaza de?Colon in the capital city into a large meeting point?for fans, called Plaza Seleccion, where supporters could watch Spain's 'World Cup matches on large screens. The RFEF announced on Saturday that "for reasons of safety and public health it has been decided to cancel the entire program planned for the Colon Fan Zone. This includes the broadcast of match." Fans are advised to avoid prolonged exposure to heat and to follow instructions from the emergency and civil protection services. The stadium roof will be closed, and the air conditioners will keep the temperature down.
UK invests $66 Million in essential minerals to reduce import dependence
The government announced on Monday that Britain would invest PS50million ($66million) in order to increase 'domestic production' of key minerals. This is part of a move to reduce reliance on centralized global supply chains and strengthen economic resilience.
The funding will be used to support projects in extraction, processing, and recycling. These are aimed at securing the materials that go into products such as smartphones, fridges, and electric vehicle batteries.
This is in addition to the more than PS200million already committed for this sector.
The Industry Minister Chris McDonald will launch the programme at a centre for industrial research located in northeast England, where companies develop technologies for metal recovery.
China is still the dominant player in rare earth mining, and 90 percent of its refining.
McDonald stated that "critical minerals are essential for our national safety."
Mkango Resources, HyProMag, in Birmingham, has opened the first commercial rare-earth magnet plant in Britain in 25 years. The unit uses recycled materials to make magnets for 'electric motors' and other technologies.
Britain has also tried to 'diversify access' through partnerships with allies, including the United States of America and South Korea. The focus is on collaborations in supply -chains, processing capacities and investment flows.
The new funding will be divided into three pillars. PS20 million is allocated to a rare-earth magnet?hub. PS25 million goes to an accelerator program to help scale up projects. And PS5 million can go to a platform that aggregates industry demand and unlocks private investment. $1 = 0.7564 pounds (Reporting and editing by William James; Sam Tabahriti)
(source: Reuters)