Oil

Iran says a draft agreement under negotiation with the United States would include a waiver on oil sanctions, limits on its nuclear programme and the release of frozen assets. The reported terms suggest progress in talks, though neither Washington nor Tehran has confirmed a final text. Officials and analysts are weighing whether the framework could ease tensions over Iran's nuclear activities and its oil exports.

Tension is mounting around the Strait of Hormuz, with Tehran reportedly holding back for a US response while Washington issues warnings over nuclear threats. The standoff puts one of the world's most critical oil shipping routes at the centre of a confrontation between Iran and the United States, drawing close attention across the Gulf region and international markets.

US officials have warned that if Iran acquired nuclear weapons, no country could prevent it from dominating the Strait of Hormuz, the chokepoint through which a large share of the world's oil passes. The statement underscores Washington's argument that Iran must never be allowed to develop a nuclear arsenal, given Tehran's existing influence over Gulf shipping lanes.

US Treasury yields climbed to new highs while oil prices rose, according to Wall Street Journal markets coverage. The simultaneous rise in borrowing costs and energy prices points to renewed pressure on markets, with investors watching inflation risks and the impact of higher yields on stocks, mortgages and the broader economy.

U.S. and Iranian officials are holding talks through separate mediators amid renewed tensions in the Middle East, while regional oil exports have climbed to a wartime high. The indirect negotiations suggest both sides are seeking channels to manage the conflict, even as energy flows continue largely uninterrupted, keeping global oil markets and diplomacy in focus.

Russia has started rationing fuel following a large-scale Ukrainian drone strike on its energy infrastructure. Reports say Ukrainian long-range drones have hit oil depots and refineries, prompting Moscow to restrict petrol supplies in affected regions. The strikes highlight Ukraine's growing drone capability, which is inflicting economic damage deep inside Russian territory and straining the country's fuel distribution system.

A British air base has been identified as the site of a foiled terror plot, and reporting shows the same installation has been used by the U.S. Air Force to launch strikes against Iran. The dual role of the base is drawing attention to its strategic importance and its exposure as a potential target. Further details about the plot, those behind it, and the response from UK and US authorities have not yet been made public.

Oil prices climbed as ceasefire negotiations between the United States and Iran reached a deadlock, with no breakthrough reported. Markets are reacting to the heightened uncertainty over the conflict, with traders pricing in the risk of prolonged tension in the region and potential disruption to oil supplies if diplomacy fails.

British police say they have foiled a possible terror attack, according to news reports. Details about the location, suspects, or targets have not been made clear in initial coverage. The announcement has drawn attention as authorities continue counterterrorism operations in the UK.

A Kyiv Post analysis examines a dilemma facing the Kremlin as Ukrainian drone attacks continue to hit Russian oil refineries, forcing trade-offs between protecting domestic fuel infrastructure and retaliating against Ukraine. The piece weighs what Vladimir Putin prioritizes more: defending critical energy assets at home or continuing strikes on Ukrainian territory.

European stock markets were little changed as pressure from oil prices and bond markets offset a rally in UK homebuilder shares. Homebuilders gained ground while broader indices stayed flat, with energy costs and rising bond yields weighing on overall sentiment across the region.

Russian President Vladimir Putin has ordered restrictions on public access to data about oil refineries and energy exports, as reported in coverage of the 1,678th day of the Ukraine war. The move limits visibility of statistics on Russia's oil infrastructure and export volumes. It comes amid ongoing attacks on Russian refining facilities and scrutiny of Moscow's energy revenues funding the war.

Police have foiled an alleged terror threat targeting RAF Fairford, the Royal Air Force base in Gloucestershire, England, and an investigation is now underway to establish the full circumstances. Details about those involved and the nature of the threat have not yet been made public. The incident has drawn attention given the base's strategic role and its use by US forces.

Iranian Foreign Minister Abbas Araghchi met with Qatari mediators amid stalled nuclear diplomacy with the United States. Iranian pessimism about reaching a deal before the US midterm elections pushed oil prices higher, as markets weigh the risk of renewed Middle East supply disruption. Traders are watching whether mediation efforts can revive negotiations and calm energy markets.

CNBC's Jim Cramer highlighted a group of stocks he believes can perform well even as higher oil prices and rising bond yields put pressure on the broader market. He argued that climbing yields and energy costs typically squeeze equities by raising borrowing costs and squeezing margins, but certain companies are positioned to withstand or benefit from those conditions.

US Supreme Court Justice Samuel Alito will not hear a major case involving oil and gas interests, reportedly because of the potential impact on his personal investments in the industry. The decision raises fresh questions about justices' financial disclosure ethics, an issue that has repeatedly drawn scrutiny to Alito and the Court in recent years.

The U.S. Strategic Petroleum Reserve has dropped to its lowest level since 1982 following large drawdowns. The release of hundreds of millions of barrels over the past year, intended to curb gasoline prices, has left the emergency stockpile severely depleted, prompting debate over energy security and how quickly the reserve can be refilled.

An incident involving a ship has been reported in the Strait of Hormuz, the narrow waterway between Iran and Oman through which a large share of the world's oil passes. Details about the vessel, what happened, and whether anyone was harmed remain unclear. Any shipping trouble there draws immediate attention because of the route's importance to global energy supplies.

An anti-fur protest march took place during Milan Fashion Week, drawing attention amid the city's runway shows and reigniting debate over the use of real fur in luxury fashion. Demonstrators pushed designers and brands to abandon fur, while attendees and industry observers weighed the disruption against growing calls for ethical and sustainable practices in fashion.