Latest News
-
Five people were killed in Israeli attacks on Gaza, including a young girl, according to medics
Palestinian officials said that Israeli attacks on Sunday killed at least five people, including a nine-year-old child. Medical personnel said Israeli gunfire was directed at an encampment of a 'tent' on the eastern edge of the Al-Bureij Refugee Camp in central Gaza, killing Tala Abumatar. The Israeli military didn't immediately comment on Tala Abu Matar's death. Four people were killed in an airstrike on a metal foundry located in the Sabra neighborhood of Gaza City. Three Israeli missiles were reported by witnesses to have struck the site. Israel's military claimed to have struck "terrorist infrastructure" without providing any further details. Despite the fact that Israel and Hamas agreed to a ceasefire in October 2025, it failed to stop Israeli attacks which have killed over 1,000 Palestinians in Gaza since its implementation. In the same time period, militants have killed four Israeli soldiers in Gaza. Hamas leaders are in Cairo to continue discussions about implementing the second phase U.S. president Donald Trump's Gaza Peace Plan. According to sources familiar with the talks, there are discussions about Hamas disarmament, and Israeli army withdraws. However, they add that a breakthrough has not yet occurred. Hamas controls a small strip of land on the coast where nearly all of Gaza's two million residents, many of whom have already been displaced multiple times, live. According to Israeli statistics, Hamas-led militants killed 1,200 people during their cross border attack into Israel on October 7, 2023. Gaza's health ministry reported that more than 73,000 Palestinians had been killed on the territory since. Reporting by Nidal Al-Mughrabi, Editing by Helen Popper
-
Three people were killed in Israeli attacks on Gaza, including a young girl, according to medics
Palestinian officials reported that Israeli attacks on Gaza Strip killed three people, including a nine-year-old child. Medical personnel said that 'Israeli gunfire was directed at a tent camp on the eastern side of Al-Bureij Refugee Camp in central Gaza, killing 9-year-old Tala Abmatar. The Israeli military didn't immediately comment on Tala Abu Matar's death. Two people were killed in an airstrike on a metal foundry located in Gaza City's Sabra neighborhood. Three?Israeli rockets were reported by witnesses to have hit the site. Israel's military claimed to have struck "terrorist infrastructure" without providing further details. The ceasefire agreement between Israel and Hamas in October 2025 halted major combat in the enclave. However, it failed to stop Israeli attacks which have killed more than 1,000 Palestinians since its implementation. In the same time period, militants have killed four Israeli soldiers in Gaza. Hamas leaders are in Cairo to continue discussions on the implementation of phase two of President Donald Trump's Gaza Peace Plan. According to sources familiar with the talks, there are discussions about Hamas disarmament, and Israeli army withdraws. However, they add that a breakthrough has not yet occurred. Hamas controls a small strip of land on the coast where nearly all of Gaza's two million residents, many of whom have already been displaced multiple times, live. According to Israeli statistics, Hamas-led forces killed 1,200 people during their cross-border attack on israel on October 7, 2023. Gaza's health ministry reported that more than 73,000 Palestinians had been killed on the territory since. Reporting by Nidal Al-Mughrabi, Editing by Helen Popper
-
Iraqi Prime Minister to Visit Washington on Monday, Oil and Gas Deals Expected
Iraq's Prime Minister will visit Washington, D.C. on Monday to strengthen strategic ties. Oil and gas deals are expected to be signed as part of an broader push towards economic, trade, and investment cooperation. Iraq is trying to maintain a balance between its relations with Iran, its neighbour, and the U.S. Haider al Aboudi, a government spokesperson, said that the agreements will include memorandums?of understanding in the oil and natural gas sector. Iraq is preparing to bring in various U.S. firms to provide a boost to oil production. Al-Aboudi of Iraq's State News Agency said that the planned oil and gas deals would also create alternative export outlets in order to reduce Iraq’s exposure to disruptions at the Strait of Hormuz. Iraq has also suffered a decline in oil revenues, as have other Gulf oil producers due to the closure of the crucial shipping route during the U.S. - Iran war. Al-Aboudi stated that strengthening Iraq's military forces will also be discussed in Washington. The relationship between Iraq and the U.S. has been strained at times over the presence of U.S. soldiers in Iraq, Baghdad’s ties with Iran, and U.S. pressuring Iraq to curb the influence Iran-backed armed group. Ali al-Zaidi, however, received 'congratulations' from U.S. president Donald Trump after he was nominated to the premiership in April. Trump said that he hoped Baghdad would work more closely with Washington. Reporting by Muayad?Hameed. Eman Abouhassira wrote the article. David Goodman, Mark Potter and Mark Potter (Editing)
-
OBITUARY - Former Qatar ruler Sheikh Hamad has died. A moderniser, who took power, Hamad was a former leader of Qatar.
Sheikh Hamad Bin Khalifa al-Thani died aged 74. He was a moderniser and a powerful leader who took power in 1995, but broke tradition by handing it over to his son, 18 years later. The Amiri Diwan in Qatar, Qatar's top government body, announced on Sunday that Sheikh Hamad died. The cause of death was not mentioned. It did not mention?the cause of his death. Sheikh Hamad presided in one of the most significant periods of history of the country, driving a fast transformation of the small desert state, which reshaped the economy, global status and political ambition. He was a strong, independent personality who explained in his 2013 speech marking his abdication that he wished for a new generation to take charge "with their innovative thoughts and active energies". Sheikh Hamad was responsible for Qatar's efforts to develop its LNG infrastructure, which allowed the country to export its vast reserves of gas to the global market. This made Qatar one of the largest exporters in the world and laid the foundations of its immense wealth. He founded the?media network Al Jazeera which gave Qatar a voice that was unmatched in Arab politics, and extended its influence beyond the Gulf. He also led the successful bid for the 2022 "soccer World Cup", a move which firmly placed Qatar on the international stage, and accelerated the decade-long infrastructure construction that transformed the capital Doha. LAYING THE GROUNDWORK OF QATAR'S PART AS A PEACE BROKER In his foreign policy, he carved out a role as a peace broker for Qatar. He mediated talks in conflicts ranging from Lebanon to Yemen to Darfur and maintained ties with both the United States - which hosts U.S. Central Command - and?Iran as well as groups that aligned themselves with it. This balancing act laid a foundation for Qatar's role today in the negotiations between the United States, Iran and its allies. Qatar, under Sheikh Hamad, played a prominent role in the Arab Spring of 2011, using its resources and influence to support revolutionary movements and Islamists groups throughout the region. Doha's policy was portrayed as a support for the popular demand for political change. However, critics accused Doha -- and Sheikh Hamad - of backing only factions that aligned to its interests, notably groups connected?to?the Muslim Brotherhood. Sheikh Hamad was at odds with other Gulf monarchs, such as Saudi Arabia and the United Arab Emirates. They viewed these movements negatively and as a threat against regional stability and monarchical authority. Qatar's activism raised its regional profile, but it also?deepened the tensions with neighbours. It left a legacy which continues to influence Gulf politics. COUP AND ATTEMPTED COUNTER COUP Sheikh Hamad abdicated to "ensure a smooth transition" and minimise any discord in a family that has a history of palace intrigue. In 1995, he took power in a bloodless revolution from his father. He survived a counter-coup attempt that analysts attributed to his dad, who had seized power in a similar manner in 1972, by ousting his own cousin. Sheikha Hamad bint Nasser was one of Sheikh Hamad’s most influential partners in Qatar’s modernisation effort. She developed a profile public that was unusual for the wife of a Gulf leader. Sheikha Moza’s influence was boosted by his efforts to reposition Qatar at home and abroad. Sheikh Hamad's political and economic reforms, which reshaped the trajectory of the country, were accompanied by parallel initiatives in education, social development, and research. The emir was 44 when he took over as the leader of the region. He was seen as being less distant than other Gulf Arabs leaders and would often be found in his favourite café at Doha's souq talking to the customers. (Writing by Michael Georgy, Andrew Mills and Emelia Sithole Matarise; Editing by Emelia S. Sithole Matarise)
-
Former emir, Sheikh Hamad Bin Khalifa al Thani, has died at the age of 74
The nation's Amiri Diwan (its top government body) announced on Sunday that Qatar's former emir had died at the age of 74. Sheikh Hamad bin Khalifa Al Thani, Qatar's former ruler from 1995 until 2013, abdicated to his son Sheikh Tamim. Sheikh Tamim is now the current leader of this gas-rich Gulf nation. The Amiri Diwan has announced the death of HH Father Amir Sheikh Hamad Bin Khalifa Al-Thani. The Diwan stated that Allah would have mercy on him and give him the best reward possible for his achievements for 'his homeland and nation. Sheikh Hamad has raised Qatar's profile globally through the Al Jazeera TV network and its successful bid for the 2022 World Cup soccer tournament. This?U.S. allied state, which has more than 2.5million people, is a small country, but it is the largest?exporter in the world of liquefied gas. It is also a major player in Middle East diplomacy, international media, and global investment. In June '2013, Sheikh Hamad abdicated power to his son, the crown prince at that time, in an unusual move by a hereditary Gulf Arab leader to "ensure a smooth succession". He had himself overthrown his own father in 1995 in a bloodless revolution.
-
Toronto police report that 2 people have died and 5 others were injured in an active shooter incident.
According to an emergency alert posted by the police on X, two people were killed and five injured in a shooting incident that occurred in Toronto 'on Saturday. Five people were found with gunshot injuries by police officers. Two victims were declared dead on the spot. It was not immediately clear what the conditions were of the other victims. CTV News reports that the shooting took place in Midtown Toronto, during the Salsa on St. Clair Festival, an annual Latin festival. The authorities urged the public to avoid the area, and to follow the directions of the police as the investigation and response continued. In a X.com post, Canadian Prime Minister Mark Carney expressed his "horror" at the shooting. He also said that the police have his full backing in their efforts in apprehending those responsible. He said: "My prayers go out to the families who are grieving, those in critical condition, and all who have been affected by this horrible event." Toronto Police declined to give 'additional information beyond that posted on the department's official feed?on X. The police said that updates would be given 'as new information becomes available. No details were immediately released about the suspect, motive, or arrests. (Writing and reporting by Wa Lone, Additional reporting by Disha in Bengaluru. Editing by Thomas Derpinghaus).
-
Police say that 2 people were killed and 5 injured in an active shooter incident in Toronto.
According to an emergency alert posted by the Toronto police on X,?five people were injured and two were declared dead?after an active shooter incident?incident?in Toronto?on Saturday. Five people were found injured with gunshots, according to the police. Two victims were declared?dead on the spot. It was not immediately clear what the condition of?the other victims' were. CTV News reports that the shooting took place?in Midtown Toronto, during a Latin festival called 'Salsa on St. Clair. Police urged people to avoid the area, and to follow the police's instructions as they continue their investigation. A 'Toronto Police spokesperson refused to 'provide a?additional detail beyond the information that was posted on the official X feed of the department. The police?said that updates would be given as soon as new information was?available. There were no immediate details about the suspect, arrests or motive.
-
The Tour de France stage nine will be shortened due to the heatwave.
The organisers of the race announced on Saturday that Sunday's stage nine will be reduced by 30 km due to heat risks. However, it will still have its original start and finish locations. In a press release, the organizers announced that the stage from Malemort, originally planned for 185.5km, will now be a 155.5km route. The statement said that Meteo-France had placed the Department of?Correze under red alert because of an intense heatwave. "In light of that... the race is going to?divert the original route in the neutral area, taking the D921 from Brive-la-Gaillarde and heading straight to Lanteuil 147.8km from the finish at Ussel." Western Europe has experienced the warmest June in?record. This led to an increase in deaths due to heat. The heat forced French nuclear reactors to reduce output on Friday. The organisers stated that "all government offices, local authorities and security forces as well as emergency and health services and accredited civil protection organisations, volunteers, and other stakeholders are fully committed to making sure this stage runs smoothly." After the eighth stage, the four-time Slovenian champion,?Tadej Pogacar, is leading. (Reporting by Vincent Daheron; Writing by Chiranjit Ojha in Bengaluru)
Saudi Arabia cuts crude oil prices but is this enough? Russell
Saudi Aramco has cut its crude oil price for Asia, for August-loading shipments. This move appeared to signal an intention to regain market shares and recover volumes following the Iran War. Even the record-breaking 'August official selling price' (OSP), may not be sufficient, since crude oil from other Middle East producers and exporters from Africa and the Americas are likely to remain more competitive. Aramco, 'the world's largest oil exporter', has set its OSP at a $1.50 discount to the regional benchmark of Oman/Dubai for August.
It was the largest drop in record since 2003, with a $11 reduction from the OSP for July.
The OSP also fell to its lowest level since the month of June 2020. At that time, the crude oil market in the world was massively oversupplied. Prices were also at their lowest levels for decades due to the COVID-19 locksdowns.
The current situation is reminiscent of 2020, in that the market narrative has changed dramatically to expect a surplus of supply. This is largely due to the belief that the conflict between?United States & Iran's over.
This assumption could be tested in the future by the events, and the two parties are still far from an agreement that would cement the ceasefire of 60 days agreed on last month.
Saudi Arabia and other Middle Eastern producers assume that the Strait of Hormuz will remain open, and that any vessel seeking to pass through the narrow waterway can do so even if it is under Iranian control.
Aramco's decision to reduce the OSPs, which take about 80% their oil to Asia, is probably a move by the company to regain market share.
According to Kpler's data, Saudi Arabia exported 4.53 million barrels of oil per day (bpd).
The June shipments were higher than the 3.74 million bpd of May. This was the lowest Kpler has ever recorded going back to 2013. However, they are still 2 million bpd lower than the 6.55 million bpd average for the three months before the U.S. & Israeli attack on Iran.
CHINA MOVES
Aramco's key market is China. It is the world's largest crude importer and a market where Saudi Arabia has lost market share.
China's imports of Saudi Arabia were estimated at 705,000 barrels per day (bpd) in July. This is up from the 12-year low 626,300 barrels per day in June, but less than half what they averaged for the three-month period leading up to Iran conflict, which was 1.48 million barrels per day.
Aramco's massive increase in OSPs was a response to the closure of the Strait of Hormuz which impacted Middle East crude supply. It is not surprising that China reduced its imports of Saudi Arabian crude.
Aramco was also able to redirect a large portion of its exports to Yanbu, a port located on the Red Sea. However, this came at a high cost to Asian refiners. The OSP for Arab Light reached a record-high of $19.50 over the average Oman/Dubai price for May-loading shipments.
China has also reduced its imports from other countries, as shown by Kpler data, which shows that seaborne arrivals in June were the lowest since January 2016, and roughly half the levels before the Iran conflict.
China's track record is that it has cut imports when the prices are rising sharply but also increased arrivals when the prices fall.
It may be that the size of Aramco's cut in August-loading cargoes is enough to entice China's state-controlled major refiners to buy full allocations.
It's still not certain, since crude from other Middle East countries such as Kuwait and Iraq, or the United Arab Emirates, is offered at a greater discount. The UAE has been offering several dollar discounts per barrel since it left the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ in?May. This is much higher than the $1.50 Aramco had announced for its August shipments.
Abu Dhabi National Oil Co., the main oil producer in the Emirates, plans to increase its crude output to 5 million barrels per day by the end of next year. This will enable it to boost exports to a level higher than the 3.5 million barrels per day that was achieved during the three months prior to the Iran War.
Overall, crude oil market seems to be returning rapidly to growth in supply and price wars for market share.
This outcome is still dependent on the Strait of Hormuz being fully and sustainably opened.
You like this column? Check out Open Interest, your new essential source of global financial commentary. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X.
These are the views of a columnist, who is also an author.
(source: Reuters)