Breakfast News Recap: Ethiopian forces enter Mekelle as global tensions, protests and court rulings mount
Ethiopian federal forces have entered Mekelle, the capital of Tigray, after nearly two weeks of intense fighting, marking a major escalation in the conflict as the advance widens. 🔗In the Middle East and wider security picture, Syria has called for an independent and transparent investigation into the sinking of the Togolese flagged cargo ship Alfa Watan in Bulgaria's exclusive economic zone, while Russia and China blocked a broader UN sanctions push on Sudan even as the Security Council extended the Darfur arms embargo for two months. 🔗 🔗Russia and Ukraine remain at the centre of several separate developments, with Ukrainian... [Continue Reading]
360LiveNews Recap | 09 Oct 2026 08:40 LONDON
Sponsored
Trump pushes fuel-cost relief as US midterms approach
Gasoline and diesel prices in the United States have more than doubled since the conflict between the US and Israel with Iran began in February, according to the supplied report. The rise has added pressure on transport businesses, farmers and ordinary drivers at a time when affordability is dominating the political debate ahead of the midterm elections. President Donald Trump has responded with a series of comments and announcements aimed at lowering fuel costs, including a waiver on the use of red dye diesel announced at a campaign stop this week.The report says the political stakes are high because voters... [Continue Reading]
360LiveNews | 09 Oct 2026 06:33 LONDON
Day News Recap: Middle East tensions flare as Ukraine, Europe and markets react
Iran widened pressure on shipping by striking two commercial tankers outside the Strait of Hormuz within 24 hours, while a separate tanker was hit by multiple projectiles off the north coast of Qatar, deepening fears over Gulf trade routes. 🔗 🔗Those attacks fed a broader surge in Middle East risk, with oil and stocks swinging on renewed fears of supply disruption, and the G7 agreeing to release 100 million barrels of oil and diesel from emergency stockpiles over four months to cushion shortages. 🔗 🔗In Yemen and Saudi Arabia, the conflict escalated further as Riyadh said Houthi attacks on two... [Continue Reading]
360LiveNews Recap | 08 Oct 2026 18:23 LONDON
G7 to release 100 million barrels of emergency oil and diesel stocks amid shortage
The Group of Seven has agreed to release 100 million barrels of oil and diesel from emergency stockpiles over four months in response to tightening fuel supply. The move is aimed at easing diesel shortages that are pushing up transport costs and putting pressure on household budgets. Diesel is used widely in freight, farming and other parts of the economy, so shortages can quickly spread beyond fuel markets.The confirmed release was reported on 8 October 2026 and is intended to help stabilise supply as market conditions worsen. The amount involved is equivalent to about one day of global oil demand,... [Continue Reading]
360LiveNews | 08 Oct 2026 13:32 LONDON
Sponsored
Ireland inflation hits highest level since January 2024 as energy costs rise
Ireland's annual inflation rate rose to 4.1% in the year to September, according to the Central Statistics Office, reaching its highest level since January 2024. The increase was driven largely by higher energy costs, with energy products up 15.3% year on year. The latest reading was above the 3.7% annual rise recorded in August and points to renewed pressure on household budgets.The statistics office said the jump in energy prices followed a rise in oil costs linked to conflict in the Middle East. It added that the cost to households for electricity, gas and home-heating oil has risen significantly since... [Continue Reading]
360LiveNews | 08 Oct 2026 12:07 LONDON
Oil and stocks swing on renewed Iran war fears and Middle East supply concerns
Oil prices moved sharply on Wednesday as traders reacted to renewed fears of disruption to Middle East supply routes. Prices rose after reports that Iran appeared to be stepping up attacks on tankers in the Strait of Hormuz, then fell later in the session after officials signalled that more reserves could be released if needed. The swings also fed through to US financial markets, where stocks weakened and government bond yields climbed to their highest levels in more than two decades.The immediate trigger was a warning cited in the supplied material that tanker attacks in the Strait of Hormuz may... [Continue Reading]
360LiveNews | 08 Oct 2026 02:30 LONDON
Shell forecasts sharp rise in refinery margins as war-damaged plants tighten fuel supplies
Shell has forecast that its refinery profit margins will rise sharply in the July-to-September period, as shutdowns at war-damaged refineries in the Middle East and Russia squeeze global fuel supplies. The company said margins are expected to reach $42 a barrel, almost double the $24 a barrel recorded in the second quarter. That would also exceed the previous high of about $28 a barrel seen in mid-2022.The forecast was set out in a market trading update on Wednesday. Shell said the increase reflects a steep rise in the price of refined fuels, including diesel, relative to the cost of crude... [Continue Reading]
360LiveNews | 07 Oct 2026 10:00 LONDON
South Korean fuel shipments to Russia via sanctioned tankers raise sanctions concerns
More than 176,000 tonnes of fuel, mostly diesel, were shipped from several South Korean ports to Russian ports in July and August, according to port records and ship-tracking data. The cargoes were carried on seven tankers that made 14 voyages to Russia's far east. The findings point to a trade route that could complicate efforts to restrict supplies to Moscow during the war in Ukraine.Three of the vessels were under sanctions imposed by the United Kingdom and the European Union, and one cargo was transferred ship-to-ship in South Korean waters before continuing onward. That method can obscure the origin of... [Continue Reading]
360LiveNews | 06 Oct 2026 01:29 LONDON
Sponsored
IEA says 325 million barrels released as G7 adds new diesel and crude drawdown
The International Energy Agency said member countries have now released about 325 million barrels of oil and oil-derived products from strategic reserves since March. That is more than 80% of the 400 million barrels originally pledged in the agency's collective action. The update came as G7 leaders agreed to immediately release 100 million barrels of diesel and crude oil in response to supply concerns.The agency said the 325 million barrels represented the amount released so far under the March commitment, leaving 75 million barrels still outstanding. The G7 did not say whether its new 100 million-barrel plan includes that remaining... [Continue Reading]
360LiveNews | 03 Oct 2026 16:02 LONDON
