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One Russian attack kills one person in eastern Ukraine and one in the north
Officials said that Russian strikes Saturday on Donetsk, a key town on the eastern front in the war in Ukraine, killed at least one individual. Another person died in a drone strike in the north near Russia's border. The Russian military announced that its forces had taken another village as they slowly advanced westward through the Donetsk Region. Reports from Kharkiv in the north suggest that Russian troops are closing in on Kupiansk. Sloviansk, Kramatorsk and other cities were attacked by Russian forces. Both towns have been repeatedly attacked since the Russian invasion in February 2022. Vadym Fillashkin, the governor of Donetsk Region, said that one person was killed and three injured in Sloviansk. Pictures posted online showed buildings reduced to rubble. Four multi-storey buildings and 32 private residences were damaged, he said. Pictures posted by the Kramatorsk city council show heavy damage to a part of an apartment block. Officials reported that at least one resident was injured and trapped under the rubble. One person was killed and local infrastructure damaged in a mass drone attack near the Russian border on Nizhyn. The Russian Defence Ministry announced that its forces had taken over the village of Zaporizhzhia southwest of Pokrovsk where Ukrainian forces were holding off Russian attacks for several months. Zaporizhzhia is a village in Ukraine, not the city Zaporizhzhia. The latter is a large industrial centre located about 160 km (90 mi) to the south. The General Staff of Ukraine’s Armed Forces listed the village on Friday as one of many where Kyiv’s forces had successfully repelled Russian attack. The Russian Defence Ministry announced on Friday that it had taken Moskovka village, located just outside of the city of Kupiansk. This village was also the subject of Russian attacks over the past few months. Bloggers from both the Russian and Ukrainian militaries have reported a recent increase in combat around Kupiansk. The town was occupied first by Russian forces during the early weeks of 2022, but captured by Ukrainian troops in a lightning-fast counter-offensive later that year. (Reporting and editing by Franklin Paul, Oleksander Kozoukhar)
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Senior Iranian official: European proposals at Geneva are unrealistic
On Saturday, a senior Iranian official claimed that the proposals made by European powers during talks in Geneva on his country's nucleo programme were "unrealistic", and that it would be hard to reach an agreement if they stuck with them. On Friday, there were few signs that progress had been made after the E3 (Britain, France, Germany and the EU) and their Iranian counterpart met to try and prevent the conflict between Israel, Iran and the EU from escalating. The Europeans' discussions and proposals in Geneva were unrealistic. "Insisting on this position will not bring Iran or Europe closer to an accord," said the senior official, speaking under condition of anonymity. The official stated that "in any event, Iran will review European proposals in Tehran" and then present its response at the next meeting. Both sides indicated on Friday that they are willing to continue talking, but no new date has been set. European diplomats claimed that Friday's discussions were meant to test Tehran's willingness for a new deal on nuclear energy, despite the fact that there was no immediate prospect of Israel ceasing its attacks. Two European diplomats, who did not reveal the details of the proposals made by either side, said that the E3 believed that Israel would not accept a ceasefire within the next few months and that Iran and the U.S. would find it difficult to resume talks. The idea is to start a parallel negotiation track without the U.S. on a new agreement that involves tougher inspections including possibly of Iran's missile programme. However, Tehran would be allowed some nominal uranium-enrichment capability. Emmanuel Macron, the French president, spoke on Saturday with his Iranian counterpart. He said that both sides agreed to speed up negotiations. However, he insisted that Iran must "provide every assurance" of its peaceful intentions. The senior official rejected the possibility of discussing Iran's defensive capabilities, such as its missile program, and reiterated that the idea that zero enrichment is a dead-end. The official stated that Iran welcomes diplomacy, but not in the shadow of war. John Irish contributed to the writing and reporting. Mark Potter and Hugh Lawson edited the article.
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Rosneft's head says OPEC+ can increase oil production by a year
Igor Sechin said that the OPEC+ group, which includes major oil producers around the world, could accelerate its production increases by a year compared to their initial plan. He said the decision of OPEC+ to increase output now looks far-sighted and justifiable in light of the conflict between Israel and Iran. In April, the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia shocked the oil markets by agreeing to a larger-than-expected increase in output for May, despite low prices and a slowing of demand. OPEC+ decided to increase prices by more than originally planned. "The increase in production announced since May this year is more than three times the initial plan of the alliance. He said that the entire increase in OPEC+ could also be shifted a full year ahead of schedule. He added that "the decision taken by OPEC to increase production forcefully looks very farsighted today and justified from the point of view of the market, taking into consideration the interests of consumers, in light of uncertainty regarding the size of the Iran-Israel war." OPEC+ crude oil output is approximately 41% of the global oil production. The main goal of the group is to regulate oil supply to the global market. After years of reducing production, eight OPEC+ nations increased their output modestly in April, before tripling the amount for May, then June, and now, July. OPEC+ also has two additional layers of cuts, which are expected to continue until 2026. The OPEC+ decision of increasing oil production initially caused the price of oil to fall, but an aerial conflict between Israel and Iran is the primary reason for the return of prices to $75 per barrel. This level has not been seen since the beginning of the year. Sechin, an ally of Russian president Vladimir Putin for many years, said that despite the increase in production, there would be no oil glut on the long term due to the low levels of stockpiles, although the rising use of electric vehicles by Chinese consumers could affect oil demand. Putin said that he agreed with OPEC on Friday, that the demand for oil would remain high. Putin also stated that the conflict between Iran & Israel had not caused oil prices to rise significantly, and that OPEC+ did not need to intervene on oil markets. Sechin said Rosneft has budgeted for the price of oil to be $45 per barrel this year. This is the price level that the European Union considers as the new cap on Russian oil imports. The price cap now stands at $60.
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Israeli military claims it has killed two Iranian Revolutionary Guard Commanders
Israel Katz, Israel's Minister of Defense, said that the Israeli military killed a veteran commander from the Iranian Revolutionary Guards overseas arm in an attack on an apartment in Iran’s Qom Province. Katz stated that Saeed Izadi led the Palestine Corps, the overseas arm or Quds force. Later, the Israeli military said it had killed a second leader of the Guards overseas arm. It identified him as Benham Shariyari. The strike was carried out overnight in western Tehran. The report said that the commander was "responsible for all weapon transfers from the Iranian government to its proxies in the Middle East". According to Israeli military, Shariyari provided missiles and rockets fired at Israel by Hezbollah and Hamas to Yemen's Houthis and Hezbollah. The IRGC has not confirmed the death of the two leaders. The Quds force built up an alliance of Arab allies, known as Axis of Resistance. It established Hezbollah Lebanon in 1982, and supported the Palestinian militant Islamist Hamas group in Gaza Strip. The Iranian-aligned network suffered major blows in the past two years as Israeli offensives have been launched since Hamas' attacks on Israel, October 7, 2023. This has weakened the Palestinian group, and Hezbollah. Katz claimed that Izadi had financed and armed Hamas in the first attacks. He described the commander's death as a major achievement for Israeli intelligence. Izadi has been sanctioned by both the U.S.A. and Britain for what they claim are his links to Hamas, and the Palestinian militant group Islamic Jihad which was also involved in the attacks of October 7.
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Israeli Defense Minister: Military killed the head of Palestine Corps in IRGC’s overseas arm
Israel Katz, Israel's Minister of Defense, said that the Israeli military killed a veteran commander from the Iranian Revolutionary Guards overseas arm in an attack on a Qom apartment. Katz released a statement about the veteran commander Saeed Izadi who led the Palestine Corps Quds Force. The IRGC has not confirmed this. The Quds force built up an alliance of Arab allies, known as Axis of Resistance. In 1982 it established Hezbollah and supported the militant Islamist Palestinian group Hamas. Hezbollah and the Palestinian group Hamas have both been weakened by Israeli offensives following Hamas attacks against Israel on October 7, 2023. Katz claimed that Izadi had financed and armed Hamas in the first attacks. He described the commander's death as "a major achievement for Israeli Intelligence and the Air Force". Izadi has been sanctioned by both the U.S.A. and Britain for what they claim are his links to Hamas, and the Palestinian militant group Islamic Jihad which was also involved in the attacks of October 7.
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First Steel Cut for HVAC Infrastructure for Belgian Offshore Energy Hub
A new milestone has been reached in the development of Belgium’s offshore energy hub, Princess Elisabeth, with the first steel cut for the construction of the high-voltage alternating current (HVAC) infrastructure.The steel cutting ceremony was held at the HSM Offshore Energy yard in Schiedam in the Netherlands.The HVAC modules, which include high-voltage substations and a facility module, will be directly installed onto the Princess Elisabeth offshore energy hub.Located 45 km off the Belgian coast, the artificial island will serve as a key connection point for transporting at least 2.1 GW of offshore wind energy generated in the Princess Elisabeth Zone to the mainland.The HVAC substations will house essential components such as power transformers and gas-insulated switchgear (GIS), so forming the backbone of the island’s AC transmission infrastructure.The modules are being built by HSI Pemac, a Belgian-Dutch consortium comprising HSM Offshore Energy, Smulders, and Iv-Offshore & Energy.The consortium was awarded the engineering, procurement, construction, installation and commissioning (EPCIC) contract by Elia, Belgium’s national transmission system operator, which is part of Elia Group.Engineering works, including the layout and a detailed 3D model, are being carried out at Iv’s offices in Papendrecht (NL). The prefabrication process is taking place at Smulders’ Belgian facilities and HSM’s Schiedam yard, with the final assembly occurring in Schiedam and Vlissingen.The broader HVAC infrastructure for the island will include 330 km of 220 kV HVAC subsea cables, divided into two 165 km packages. These cables will connect the island’s AC infrastructure to Belgium’s mainland grid. "The start of the construction of the island’s HVAC infrastructure shows that the project is progressing steadily, even as we adapt its next phase in line with new market realities. The Belgian government’s recent decision to develop an alternative approach for the HVDC components will ensure that we can maintain the strategic ambition of the project in a more cost-effective way,” said Frédéric Dunon, CEO of Elia Transmission Belgium.On June 6, 2025, the Belgian federal government announced that an alternative approach for the next phase of the Princess Elisabeth offshore energy hub would be developed.While aligned with the project’s original goals, the updated approach will be aimed at reducing the costs involved by responding to the sharp global increase in the price of high-voltage direct current (HVDC) technology and related offshore services.The ambitions for this phase remain unchanged - to expand the offshore wind capacity in Belgium’s second offshore wind zone and to realize a second interconnector with the United Kingdom. Elia will work closely with the government, the Commission for Electricity and Gas Regulation (CREG) and other stakeholders to assess all of the options and assess what the most efficient and cost-effective approach will be.Princess Elisabeth offshore energy hub will be the world’s first artificial energy island. As part of its first phase of operation, it will collect electricity from two new wind farms located in Belgium’s second offshore wind zone and so enable the integration of this energy into the country’s onshore grid.The island will strengthen Belgium’s long-term electricity supply and accelerate the integration of renewable energy into the European grid.
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Egypt Still on Hold as Israel Resumes Limited Gas Exports
Israel has resumed limited natural gas exports from surplus supplies, the country's Energy Ministry said on Thursday, nearly a week after shutting down two key offshore fields as Israel and Iran waged an air battle.A ministry spokesperson told Reuters that exports are now resuming "from surpluses, after domestic needs are met."An energy ministry source said most of the limited exported gas is currently flowing to Jordan, and only "tiny volumes" reached Egypt this week.Egyptian fertilizer producers, who were forced to halt operations due to the supply disruption, told Reuters they have yet to receive any gas but expect flows to resume next week.The Egyptian Petroleum Ministry did not immediately respond to a Reuters request for comment.Following military escalation in the region, Israel halted exports on June 13 after closing the Leviathan field, operated by Chevron and the Karish field operated by Energean. Only the Tamar field has remained operational, supplying mainly domestic demand.Israeli Energy Minister Eli Cohen said on Wednesday that exports would only resume once military authorities deemed it safe."I don't want to use our strategic storage, so therefore, I needed to cut exports," he told Reuters.Egypt, which has increasingly relied on Israeli gas since a domestic production decline in 2022, is scrambling to compensate for the supply gap. The country has ramped up fuel oil use in power plants and has signed deals to import over $8 billion worth of liquefied natural gas, while preparing additional floating regasification units.Israeli gas typically accounts for up to 60% of Egypt's total gas imports and around a fifth of its total consumption, according to data from the Joint Organisations Data Initiative (JODI).(Reuters - Reporting by Mohamed Ezz and Steven Scheer; Editing by David Gregorio)
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Ministry: Armed men on motorcycles killed 34 Niger soldiers
The Defence Ministry reported that several hundred armed men - many of them on motorbikes - attacked an army base in Niger near the Mali border, killing at least 34 soldiers and wounding 14 others. According to a statement read on state television, the attackers -- described by the ministry as "mercenaries," used eight vehicles and over 200 motorbikes during the raid at the Bani-bangou base on Thursday. In a Friday statement posted on its Telegram channel, the Islamic State claimed responsibility. Niger, along with other countries of West Africa's Sahel, are fighting islamist militants tied to al Qaeda or Islamic State. The ministry did not go into detail about the assault, but said that troops conducted aerial and ground searches to secure the area. (Reporting and additional reporting by Yomna ehab; Writing and editing by Ayen deng bior; Editing, Andrew Heavens, Rod Nickel; Reporting by Moussa aksar)
Copper prices are on the rise; trade developments to be considered
Copper prices edged higher on Wednesday, helped by stronger-than-expected U.S. jobs data, even as investors stayed cautious amid ongoing trade negotiations.
The London Metal Exchange reported that the price of three-month copper was up by 0.1% at $9,643.5 per ton as of 0945 GMT.
The U.S. Dollar fell, making metals cheaper for holders of currencies other than the dollar.
Alastair M. Munro, broker at Marex, said: "Yesterday’s JOLTS was better than expected and leaves the markets surprised by U.S. economic resilience."
The Labor Department's Bureau of Labor Statistics reported that job openings, which are a measure of the labor demand, had risen 191,000 by the end of April to 7.391 millions, according to its Job Openings and Labor Turnover Survey (JOLTS) report.
Trump also signed an executive order that will put into effect his announcement from last week, which was a surprise. He had increased the tariffs from 25% to 50% on imports of steel and aluminum.
The White House also wants trading partners to submit proposals on Wednesday that could help them avoid Trump’s "Liberation Day", hefty tariffs, from going into effect in just five weeks.
LME copper has also benefited by the continued flow of goods from LME registered warehouses. LME data shows that inventory has fallen to 141.350 tons after 2,500 deliveries, which is a new low for the LME.
The recent metal tariffs have brought the U.S. investigation of potential new copper import duty to light, which is aimed at increasing domestic production. The COMEX copper price has now risen above LME prices, which has led traders to divert copper supplies from the LME to the U.S. in order to profit from the price difference.
LME tin rose 3% to $32,300. Aluminium climbed 0.8% to 2,483.5 per ton. Zinc was up by 0.4% at $2,717.5. Nickel was up 0.2% at $15,465. Lead fell 0.1% to 1,984.5. Ashitha Shivaprasad reports from Bengaluru.
(source: Reuters)