Russia eases diesel export curbs as US authorises SPR oil release
Russia said on Saturday it has lifted some restrictions on diesel exports with immediate effect, following an agreement between President Vladimir Putin and US President Donald Trump to allow Russian diesel supplies to reach US and international markets. The announcement was made in Moscow and described as an immediate change to export rules. Russian Deputy Prime Minister Alexander Novak said in a statement that domestic production is sufficient to meet Russia's needs in full while still maintaining agreed export volumes to global markets. The source does not give details on which restrictions were removed, beyond saying only that some curbs... [Continue Reading]
Sponsored
Shipping firms offer huge pay premiums to keep tankers moving through the Strait of Hormuz
Oil tanker captains are being offered as much as US$100,000 a month to keep transiting the Strait of Hormuz, according to industry insiders and maritime unions cited in the supplied material. The incentives come as commercial shipping through the waterway remains hazardous, with recent attacks on tankers and continuing restrictions affecting movement through the chokepoint. Gulf oil producers are also trying to keep exports flowing despite the heightened risk.The material says some seafarers in Asia have been offered double or triple their normal pay, along with additional danger-money bonuses worth tens of thousands of dollars. It also says captains can... [Continue Reading]
Trump repeats sweeping peace claims and says Iran was stopped from getting a nuclear weapon
President Donald Trump made multiple posts on Truth Social in the last hour: - "The Dumocrats, along with their partners in crime, the Fake News Media, are trying to create the false narrative that, Donald Trump is so "unpopular, " the Republicans are going to lose. I'm so "popular, " that the Republicans are going to WIN, and that's being proven by the Record Setting Rallies we're doing (including the one in Tennessee where I'll be in a short while, See you soon!)." - "Mike Ditka was a great champion, both as a player and a Coach. He was MAGA... [Continue Reading]
Tanker explodes after hitting mine in Strait of Hormuz, Iranian Guard says
A petrol tanker exploded and caught fire after striking a naval mine while crossing the Strait of Hormuz, according to Iran's Revolutionary Guard. The incident was reported on Saturday and involved one of the world's most important oil transit routes. No independent confirmation of the circumstances has been provided so far.The Guard did not disclose the vessel's name, flag or origin. It also gave no details on possible casualties or the extent of the damage. Iranian state media carried the account, but the available information remains limited and unverified by outside sources.The reported blast comes amid a sharp rise in... [Continue Reading]
Sponsored
Day News Recap: Deadly strikes in Ukraine, Gaza and Sudan as Trump diesel deal and ICC sanctions stir backlash
Russian glide bombs hit residential buildings in Zaporizhzhia, killing at least 15 people, including three children, as rescue crews continued searching the rubble. Ukraine said the attack came after a diesel deal announced by Donald Trump, linking the strike to wider pressure on Kyiv. 🔗 🔗In a separate diplomatic push, US, Ukrainian and European officials met in Miami to try to shape a common plan to end Russia's war before winter, while Ukraine said its Operation Vivaldi had disrupted a Russian plan to encircle the remaining Ukrainian positions around Lyman in Donbas. 🔗 🔗Donald Trump also announced an agreement with... [Continue Reading]
Trump Announces Deal With Putin to Release Russian Diesel to Global Market
US President Donald Trump has announced an agreement with Vladimir Putin to release large volumes of Russian diesel into the American and global markets. The announcement, made on Friday and discussed again on Saturday, immediately drew criticism from Ukraine and raised questions about the impact of sanctions on Russian energy exports. According to the statements provided, the deal would begin with an immediate release of 300,000 tonnes of diesel, followed by 500,000 tonnes in November and another 1 million tonnes later.Trump said an additional 3 million tonnes could be delivered in the near term, depending on the operating capacity of... [Continue Reading]
EU faces winter gas shortage risk as storage falls to lowest level since 2011
The European Union faces possible gas supply shortages during the 2026-2027 winter, with storage levels at their lowest for this time of year since records began in 2011. The warning comes in a report by the Institute for Energy Economics and Financial Analysis, which cited high prices and disruptions to global supplies. According to the report, the EU may need to cut winter gas demand by 7 percent, equal to 14 billion cubic metres, compared with last winter. Data cited in the report showed EU gas storage at about 72.4 percent on 3 October, down from around 83 percent a... [Continue Reading]
US, Europe and Ukraine hold Miami talks on joint plan to end war as winter nears
US, Ukrainian and European officials met in Miami on Friday in a renewed diplomatic push to seek a common proposal to end Russia's war in Ukraine. The talks were described by US envoy Steve Witkoff as "constructive" and focused on ways to de-escalate the conflict before winter. Witkoff said the meeting brought together the E3, the European Commission, Ukraine and NATO.According to Witkoff, the discussions covered energy resilience, grain exports, security guarantees and longer-term arrangements for Ukraine's and Europe's security to prevent future conflict. He also said the parties discussed support for Ukraine's post-war reconstruction and economic prosperity, including EU... [Continue Reading]
Sponsored
Breakfast News Recap: Ukraine, Gaza and ICC tensions dominate as Florida storm weakens
Ukraine and Russia remained at the centre of the day’s diplomacy and fighting. In Miami, United States, Ukrainian and European officials held what Washington called productive talks on proposals to end the war, even as US envoy Steve Witkoff warned of the risk of escalation. Separately, Ukraine said Operation Vivaldi had disrupted a Russian plan to encircle the remaining Ukrainian positions around Lyman, while Yandex said two of its five data centres were hit by Ukrainian drones, disrupting the Russian tech group’s services. 🔗 🔗 🔗Pressure also mounted on international institutions after the United States imposed sanctions on the International... [Continue Reading]
Wall Street closes mixed as megacap tech steadies, energy and banks lead, chips and crypto slide
Executive summary: U.S. stocks finished higher overall, with the S&P 500 and Dow setting the tone while the Nasdaq lagged. Strength in Amazon, Microsoft, Tesla, energy, banks and gold offset weakness in Nvidia, the SOXX chip complex, Bitcoin and Ether. The tape points to a market still rotating beneath the surface, with leadership broadening beyond the most crowded AI names. [Continue Reading]
Day News Recap: Global tensions flare from Gaza to Hormuz as markets turn mixed
The biggest escalation came in the Middle East, where Iran’s Revolutionary Guard said it set an oil tanker ablaze in the Strait of Hormuz and warned of wider attacks on vessels it considers hostile, raising fresh fears over shipping through the waterway. 🔗 Saudi Arabia also reopened Riyadh’s King Khalid International Airport after a Houthi attack killed three people and injured several others, underlining the spread of regional violence. 🔗In Gaza, a senior United Nations official said life remains “absolutely horrendous” a year after the ceasefire, with the humanitarian crisis still severe. 🔗 Separately, Vladimir Putin said Russia would do... [Continue Reading]
Europe closes mixed as energy spikes, gold firms and crypto sells off, with FTSE 100 outperforming
Executive summary: European equities ended the session under pressure overall, as the DAX, CAC 40 and Euro Stoxx 50 slipped while the FTSE 100 outperformed and closed higher. The move came alongside a sharp jump in Brent crude, a strong rise in natural gas, firmer gold and silver, and a heavy drop in Ether. FX moves were modest, with the euro and sterling both softer against the dollar and USD/JPY edging higher. [Continue Reading]
Sponsored
EU and China reach deal to curb hybrid car exports to Europe
The European Union says it has reached a landmark agreement with China to reduce hybrid car exports to the bloc by more than half over four years. The deal was announced in Beijing on Friday after months of negotiations between the two sides. It is being presented as a significant step in efforts to ease pressure on European carmakers.Trade commissioner Maroš Šefčovič said the talks had been intense since June and that the agreement could cut exports of plug-in and battery-powered hybrid cars by several million vehicles over the next four years. He said the arrangement was the first of... [Continue Reading]
Wall Street Opens Mixed as Energy, Gold and Banks Outperform While Chips, Crypto and Small Caps Slide
Executive summary: U.S. markets opened with a clear rotation away from growth and risk assets and toward energy, gold and financials. The S&P 500, Dow and Nasdaq were all higher in early trade, but the move was uneven, with semiconductors, small caps, defense and bitcoin-linked assets under pressure. The opening tone points to a market balancing firmer commodity prices, a stronger dollar against the yen, and renewed caution around high-multiple tech and crypto exposure. [Continue Reading]
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]
Europe Opens Lower as Oil and Gold Rise, With Ether Extending a Sharp Slide
Executive summary: European equities opened under pressure, with the Euro Stoxx 50, DAX and CAC 40 all lower, while Brent crude and gold advanced. The move points to a market balancing higher energy costs, firmer safe-haven demand and a weaker risk tone in crypto, where Ether fell sharply. FX was comparatively subdued, with the dollar firmer against the yen and slightly softer versus the euro and pound. [Continue Reading]
Sponsored
Tokyo and Asia-Pacific close mixed as Nikkei slips, crypto rout deepens and commodities firm
Executive summary: Asia-Pacific markets ended mixed, with Japan and South Korea under pressure while Hong Kong and Australia held gains. Ether’s sharp drop and weaker risk appetite weighed on sentiment, while oil, gold and natural gas all firmed, reinforcing a defensive tone across parts of the market. [Continue Reading]
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]
Tokyo Opens Lower as Asia-Pacific Sells Off, With Crypto, Metals and Equities Under Pressure
Executive summary: Tokyo and broader Asia-Pacific markets opened under clear risk-off pressure, led by sharp declines in the Nikkei 225, Hang Seng and Kospi. Ether’s steep drop, weaker industrial metals and firmer oil added to the defensive tone, while gold held a modest gain and the yen was little changed against the dollar. [Continue Reading]
Wall Street closes higher as energy and megacap tech offset crypto and chip weakness
Executive summary: U.S. equities finished higher, led by the Dow and S&P 500, while energy and several megacap names outperformed. The session also featured sharp pressure in Bitcoin and Ether, a softer tone in chip stocks, and a notable jump in Tesla. The mix points to a market still willing to buy large-cap leadership, even as risk appetite remains uneven across crypto, semiconductors, and smaller stocks. [Continue Reading]
Sponsored
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]
Europe closes mixed as oil spikes, crypto slides and rate-sensitive assets come under pressure
Executive summary: European equities finished mixed to weaker on the session, with the CAC 40 and Euro Stoxx 50 leading declines while the FTSE 100 eked out a small gain. The broad tone was risk-off, as Brent crude jumped more than 5%, Ether fell more than 10%, and precious metals also softened. The move points to renewed inflation anxiety and tighter financial conditions, even as sterling held firmer and the euro slipped against the dollar. [Continue Reading]
Iran strikes tankers outside Hormuz in signs of expanding campaign
Iran's armed forces struck two commercial tankers outside the Strait of Hormuz within 24 hours this week, in what appeared to be a deliberate widening of attacks beyond the narrow waterway. The incidents took place in waters off Qatar and near Fujairah in the Gulf of Oman, both outside the strait that is central to global energy shipping. The reported attacks have raised concern that maritime insecurity in the region may be spreading into a broader area.The UK Maritime Trade Operations agency said several projectiles hit the oil and chemical tanker Acers, which was flagged in Antigua and Barbuda, 51... [Continue Reading]
Wall Street Opens Higher as Nasdaq Leads, Energy Rises on Crude Jump, Crypto Sells Off
Executive summary: US equities opened firmer, with the Nasdaq Composite leading gains and the S&P 500 and Dow also in positive territory. Energy stocks and crude oil advanced sharply, while Bitcoin and Ether fell hard, signaling a split tape between cyclical strength and risk asset weakness. The move comes alongside softer gold and silver, a stronger dollar versus the yen, and weakness in chips, small caps, and defense shares. [Continue Reading]
Sponsored
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]
Strait of Hormuz shipping slows as tanker bonuses surge amid Iran war
Shipping through the Strait of Hormuz has fallen to its lowest level since July, according to shipping data cited in the supplied material, even as some tanker captains are being offered unusually large bonuses to take the route. The development points to a widening gap between the strategic importance of the waterway and the willingness of crews to transit it under current conditions. It also suggests that the maritime disruption around the Gulf is now affecting both traffic patterns and labour costs.The supplied material says some captains are earning base salaries of as much as $100,000, plus a $50,000 bonus... [Continue Reading]
Breakfast News Recap: Middle East tensions flare as Israel marks 7 October anniversary and oil jumps
Oil prices and global stocks swung as traders reacted to renewed fears of disruption to Middle East supply routes, with crude rising on reports that Iran appeared to be preparing a response and investors watching the risk to shipping and energy flows. 🔗Security concerns widened after UKMTO said a tanker sailing off the north coast of Qatar was struck by multiple projectiles, adding to worries over maritime traffic in the Gulf. 🔗In the region’s wider conflict, Saudi Arabia said Houthi attacks on two airports killed three civilians, including three foreign nationals, and injured 36 people over two days, while Yemeni... [Continue Reading]
Europe opens mixed as DAX outperforms, CAC 40 lags on higher oil, firmer dollar and rate pressure
Executive summary: European markets opened with a split tone, as the DAX held a modest gain while the FTSE 100 also edged higher and the CAC 40 and Euro Stoxx 50 slipped. The move comes alongside a stronger Brent crude price, firmer natural gas, a softer euro and a weaker gold complex, while silver, platinum and palladium also fell. The pattern points to a market still wrestling with higher-for-longer rate expectations, energy inflation and a cautious risk backdrop. [Continue Reading]
Sponsored
Tokyo and Asia-Pacific Close Mixed as Nikkei Extends Gains, Hang Seng and Kospi Slide on Risk-Off Tone
Executive summary: Tokyo finished higher, but the broader Asia-Pacific session was uneven as Hong Kong and Seoul sold off sharply. The Nikkei 225 rose +1.1%, while the Hang Seng fell -3.0% and the Kospi dropped -2.5%. Commodities were split, with WTI crude up +1.3% and natural gas surging +6.1%, while gold, silver, platinum and palladium all weakened. The yen was little changed against the dollar, and the yuan edged firmer. [Continue Reading]
Tanker hit by multiple projectiles off Qatar coast, UKMTO says
A tanker sailing off the north coast of Qatar was struck by multiple projectiles on Wednesday, according to the United Kingdom Maritime Trade Operations agency. The incident took place about 94 kilometres north of Madinat ash Shamal, within Qatar's exclusive economic zone. UKMTO said casualties were reported and that authorities were investigating the attack.The agency did not say how many people were killed or injured, and it did not identify the vessel or say where it was registered. It also did not give any indication of who may have carried out the attack. Qatar has not publicly commented on the... [Continue Reading]
Sponsored
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]
Thousands protest Flavio Bolsonaro in Rio as Brazil heads to runoff
Thousands of people marched in downtown Rio de Janeiro on Wednesday to protest against Senator Flavio Bolsonaro ahead of Brazil's October 25 presidential runoff. The demonstration was led by students and drew supporters of President Luiz Inacio Lula da Silva, who are trying to stop what they see as a possible return of the far right to power. The rally took place as the campaign for the second round gathered pace after Bolsonaro finished first in the opening vote.The supplied material says Bolsonaro won about 47% of valid votes in the first round, compared with Lula's 45%, after nearly 99%... [Continue Reading]
Hardline Iranian MPs move to impeach foreign minister over UN talks
Hardline lawmakers in Iran have filed a motion to impeach Foreign Minister Abbas Araghchi over his talks with US special envoy Steve Witkoff on the sidelines of the United Nations General Assembly in New York last month. The move has exposed a public split inside the Islamic Republic over whether to pursue negotiations with Washington. Parliamentary officials said the request has been registered, but it has not yet been referred for further consideration or placed on the agenda.The motion centres on a meeting held on 22 September, which the lawmakers behind it say took place without authorisation from Iran's top... [Continue Reading]
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]
Sponsored
Has Russia's fuel crisis given Iranian oil an opening in Central Asia?
Iran's oil exports have struggled under a US blockade, but a Russian fuel crisis caused by Ukrainian attacks on energy infrastructure may be creating a new opening in Central Asia. Countries in the region have begun buying oil from Iran as Russian fuel supplies they have long depended on run short. The shift is emerging as Moscow faces mounting pressure from drone strikes on refineries linked to its war in Ukraine.In August, Tajikistan said it was receiving oil and petroleum products from Iran as Dushanbe faced uncertainty over supplies from Russia. Also in August, Tehran agreed to establish a joint... [Continue Reading]
ASOS customers receive hack alert as retailer faces extortion message
Thousands of ASOS customers have received a phone alert saying the online retailer has been hacked. The mobile app notification, titled "ASOS hacked," was sent on Tuesday and directed recipients to a Telegram account. The message claimed the company's Snowflake instance had been compromised and threatened to leak data unless contact was made.The alert said: "Dear ASOS DPO and IT, we have full compromised the Snowflake instance. Engage with us, or we will leak it," followed by a Telegram link. The message was sent to customers through the ASOS app, according to the report.Shares in the company fell by more... [Continue Reading]
Iran oil transit speculation grows as exports through Hormuz stay elevated
A new report has added to speculation over how oil continues to move through the Strait of Hormuz despite persistent security risks. Provisional data from maritime tracking firm Kpler suggests crude exports from the wider Middle East exceeded pre-war levels on four days in the final week of September, reaching between 19.5 million and 22.5 million barrels per day. The figures come as analysts continue to weigh whether the flow of tankers is being sustained by military escort, ship-to-ship transfers, or some form of payment to secure passage.The latest discussion was prompted by comments from Michelle Brohard, Kpler's head of... [Continue Reading]
Euro falls to 17-month low as French debt fears and Spain election add to eurozone uncertainty
The euro fell to its lowest level against the dollar in 17 months on Monday, as investors grew more concerned about France's debt position and wider political uncertainty in the eurozone. The single currency dropped as much as 0.8% in early trading to below $1.12, its weakest point since May 2025, before recovering slightly. French shares also came under pressure, with the Cac 40 index falling 1% even as some other major European markets were steadier or higher.Market moves were driven by worries that France's rising borrowing costs could make it harder for the government to manage its stretched public... [Continue Reading]
Sponsored
Dubai Property Market Faces Litmus Test as Nakheel Waterfront Investors Await Final Judicial Verdict
Hundreds of international and local investors who purchased land plots in Nakheel’s massive "Waterfront" project nearly two decades ago are holding their breath. Following the official cancellation of the project by the Dubai Land Department and its integration under Dubai Holding, a special judicial committee appointed by His Highness Sheikh Mohammed bin Rashid Al Maktoum has been tasked with resolving the liquidation and settling investor claims. Because the decisions of this specialized committee are legally binding and final, with no avenue for appeal, the upcoming rulings are being viewed as a critical turning point for the regulatory reputation of Dubai's... [Continue Reading]
The Mirage of the Umbrella: The Shifting Sands of the U.S.-Israel-GCC Alliance
As I sat in a recent debate at the historic Carlton Club in London, listening to Faisal Abbas, the Editor-in-Chief of Arab News, I felt a tangible shift in the room, not because a new fact had been revealed, but because an old illusion had finally lost its last breath. The old-world order has not merely changed, it has evaporated, leaving the Gulf to realize it is no longer watching a distant fire from the safety of marble towers and air-conditioned ministries, but is instead standing directly inside the smoke. The GCC today is caught in a lethal crossfire between... [Continue Reading]
The Glass Elevator to Nowhere: A World Trapped in a Chocolate Factory
As a journalist in my mid-fifties, I thought my skin had thickened to the point of being impenetrable. I have covered the rise and fall of regimes, the grinding gears of the Cold War's leftovers, and the digital revolutions that promised to unite us. I thought I had seen every trick in the political playbook. Then came Donald Trump’s 2026 foreign policy, and I realized I was not watching a statesman; I was watching a child play with a chemistry set he does not understand. The Willy Wonka of the West: Rule by Whim Walking into a press briefing lately... [Continue Reading]
When Deterrence Becomes Reality
Yesterday the war crossed a line! For years the Sejjil ballistic missile existed mostly as a symbol. A weapon paraded in military videos, discussed in defense briefings, whispered about in strategic circles as one of Iran’s most serious capabilities. A weapon that analysts described as deterrence, not something meant to be used. But on March 15, 2026, that line disappeared. Iran reportedly launched the Sejjil (also known as Ashoura) as part of what Tehran called the 54th wave of Operation True Promise 4, a massive strike package that also included the Fattah hypersonic missile and the Qadr ballistic missile system.... [Continue Reading]
Sponsored
The Madness of Power, From Balfour to the Edge of World War Three
A Voice in the Wilderness of War: Who Still Dares to Speak Truth While Empires March There are moments in history when the world suddenly accelerates toward disaster, moments when anyone who has studied history can feel the temperature rising even before the explosions reach their peak. The current escalation in the Middle East is one of those moments. According to the facts we now see unfolding, the United States and Israel made the unilateral decision to attack Iran without the approval of the United Nations, without a global coalition mandate, and without the support of most of the international... [Continue Reading]
There Is Good in Every Bad
Power, Greed, Oil, and the Theater of Modern Geopolitics The Business Model of Power Donald Trump does not govern like a traditional politician. He governs like a negotiator who believes every geopolitical crisis is leverage, every war threat is a bargaining chip, and every market panic is an opportunity. When markets tremble, someone profits. The question is, who? Global markets react instantly to political tension. Gold rises when conflict looms. Oil spikes when instability threatens production. Stock markets collapse on fear, then rebound on reassurance. Volatility is not chaos, it is opportunity. Historically, gold has surged during major geopolitical crises,... [Continue Reading]




