Iran War & Strait of Hormuz
Oil prices fall below $100 a barrel as Trump hails ‘great progress’ on Iran deal Oil prices have dropped below $100 and stock markets rallied as Donald Trump touted “great progress” towards a “final agreement” with Iran, announcing a pause to his “Project Freedom” operation escorting ships through the Strait of Hormuz. Source: The Guardian
IRGC announces ‘safe and stable’ transit through Hormuz with end of US threats Iran’s Islamic Revolutionary Guard Corps Navy said that with US threats coming to an end, “safe and stable” transit through the Strait of Hormuz will be ensured, with new procedures to be put in place. Source: Middle East Eye
Trump shifts focus on Strait, pausing day-old escort mission The president made the announcement in a social media post just hours after Secretary of State Marco Rubio had affirmed the newly created mission, which bore little connection to the original justification for war. Source: NY Times
‘Operation Epic Fury’ has ended: Is the Iran war over? Experts say Trump’s pause of ‘Project Freedom’ could be the “beginning of the end” for the war on Iran. Source: Al Jazeera
China calls for a ‘complete’ end to war on Iran China has called for a complete end to the war on Iran. Source: Al Jazeera
Iran struck over 228 US structures and equipment across region: Report Iranian air strikes have damaged or destroyed at least 228 US structures or equipment across the region since the start of the war in late February, according to satellite imagery analysis by the Washington Post. Source: Middle East Eye
Iran Nobel winner Narges Mohammadi at risk of dying in custody Nobel laureate Narges Mohammadi is at risk of dying while in Iranian custody. Source: France 24
Democrats gain midterm edge; Trump pauses ‘Project Freedom’ Democrats outpace Republicans in voter enthusiasm for the midterm elections, according to NPR’s latest poll. Trump says “Project Freedom” is paused because of progress toward an Iran agreement. Source: NPR
U.S. gas prices surge past $4.50 a gallon — highest since 2022 The national average hit $4.52 a gallon as the war with Iran keeps the Strait of Hormuz largely shut to oil tankers. Source: Quartz
Gaza & Middle East
Israel kills several in Gaza, death toll rises to 72,619 The Palestinian Ministry of Health in Gaza reported fresh Israeli killings of three people and the retrieval of one more body over the past 24 hours, raising the official death toll to 72,619. Source: Middle East Eye
US must be transparent about Israel’s nuclear programme, Democrat lawmakers say Thirty House Democrats have told Secretary Rubio that Washington should hold Israel to the same standards as other countries and end decades-long ambiguity over its nuclear weapons. Source: Middle East Eye
Palestine ambassador protests to UK over ‘erasure’ from British Museum exhibits The Palestinian ambassador has formally complained to the UK Foreign Office after the British Museum removed the term ‘Palestine’ from exhibits on ancient Egypt and the Phoenicians in February. Source: Middle East Eye
Health & Science
Hantavirus cruise ship: Three more evacuated from MV Hondius Three people with suspected hantavirus, including a British crew member, have been medically evacuated from the MV Hondius. South Africa confirmed the Andes strain — which can spread among humans — was identified among the victims. Spain has given permission for the ship to dock in the Canary Islands. Source: The Guardian
Europe & UK
Romania’s government falls, far-right firewall crumbles Romania’s Social Democrats joined forces with the far right to oust the pro-reform government of Ilie Bolojan, raising the question of whether the far right is on the brink of power. Source: DW
Met police sets up specialist unit as antisemitic hate crime in London hits two-year high The Metropolitan Police will deploy 100 extra officers to protect Jewish communities as antisemitic hate crimes recorded in April hit their highest level in two years. Source: The Guardian
JD Wetherspoon issues third profit warning this year as costs climb Chair Tim Martin said the pub chain could miss profit expectations due to rising energy, food, labour and tax bills, the latest sign the UK hospitality sector is buckling under pressure. Source: The Guardian
Africa
Sudan blames Ethiopia, UAE for recent drone attacks Sudan has recalled its ambassador to Addis Ababa as drone attacks shatter a sense of calm after years of civil war. Source: Al Jazeera
Russia bolsters presence in Madagascar with arms deliveries and Africa Corps training Security cooperation between Madagascar and Russia has intensified since the October 2025 coup, with deliveries of drones and armoured vehicles and training sessions led by Russian Africa Corps instructors. Source: France 24
US Politics
Vivek Ramaswamy wins Republican nomination for Ohio governor The staunch Trump ally emerged victorious in the primary and will face off against former state health department director Amy Acton, who won the Democratic nomination. Source: BBC
Trump’s commerce chief Lutnick to face Epstein grilling in closed-door interview Howard Lutnick has acknowledged visiting Epstein’s island with his family in 2012 after earlier claiming he severed ties in 2005. Source: The Guardian
Los Angeles fire suspect had grudge against wealthy The man accused of setting the deadly LA fire harbored a grudge against the wealthy and admired Luigi Mangione, federal prosecutors said. Source: France 24
Markets & Finance
Dow futures surge 500 points as oil dives on Iran deal progress; S&P 500 and Nasdaq hit new highs Buoyed by solid earnings and lower oil prices, the S&P 500 and Nasdaq Composite both reached new intraday and closing highs on Tuesday. Source: CNBC
AMD stock soars 20% as data center growth pushes revenue past estimates AMD posted $10.25 billion in first-quarter revenue and forecast $11.2 billion for Q2, well above analyst estimates, as investors rush into the stock on AI boom optimism. Source: CNBC
Novo Nordisk beats estimates; shares surge on oral Wegovy pill demand First-quarter sales of the oral Wegovy pill hit $353 million — more than double analyst expectations — as the company lifted its full-year outlook. Source: Quartz
Disney’s new CEO lays out long-term vision as streaming and theme parks gain momentum In his first earnings report as CEO, Josh D’Amaro said he planned to invest in content, find new ways to reach customers and leverage new technology to grow the business. Source: MarketWatch
Morgan Stanley debuts crypto trading, undercuts rivals on price Morgan Stanley is rolling out cryptocurrency trading on its E*Trade platform with cheaper pricing than competitors. Source: Bloomberg
Nvidia and Corning partner on massive optical fiber deal for AI Corning is opening three new advanced manufacturing plants in the US dedicated entirely to optical technologies for Nvidia. Source: CNBC
Mortgage rates hit highest level in a month; lower-income buyers drop out Mortgage rates rose last week, causing loan demand to fall and the average loan size to rise — indicating lower-income borrowers dropped out of the market. Source: CNBC
Sports & Culture
Low US hotel bookings paint grim hospitality picture ahead of World Cup Several factors including visa barriers and geopolitical concerns are being blamed for low hotel booking numbers in World Cup host cities. Source: Al Jazeera
Rolling Stones announce July 10 release of new album ‘Foreign Tongues’ The legendary British rockers announced their new album on Tuesday. Source: France 24