Middle East & Iran War
Iran reviewing US peace proposal as Trump says deal ‘very possible’ Iran says it is reviewing the Trump administration’s latest proposal to end the US-Israel war, though the US and Iran have offered conflicting messages over the likelihood of an imminent deal. Axios reported that Washington and Tehran were close to agreeing on a memorandum. Sources: Guardian · Al Jazeera · NPR
Last oil tanker from Middle East arrives in California amid fuel uncertainty Gas prices have risen above $6 in California as the last oil tanker from the Middle East arrived in the state this week. The state’s energy commission vice-chair said California can meet fuel demand for the next six weeks with current supply. Source: Guardian
Israeli military investigates soldier’s act against Virgin Mary statue in Lebanon The Israeli military said it would investigate after a soldier was photographed placing a cigarette in the mouth of a statue of the Virgin Mary in southern Lebanon, the second incident against a Christian figure in weeks. Sources: BBC · Guardian
Reopening Strait of Hormuz would have ‘limited impact’ on cargo flows, says Maersk Maersk CEO Vincent Clerc said the shipping group’s fuel bill has nearly doubled since the start of the conflict, adding as much as $500m in costs passed on to customers. Reopening the strait alone would not significantly ease cargo disruption. Source: Guardian
US reinstates deportation proceedings against Mohsen Mahdawi The student accuses the US government of weaponising the immigration system to silence his advocacy for Palestinian rights. Source: Al Jazeera
Global Economy & Iran War Fallout
Oil prices fall below $100 as US-Iran tensions keep traders focused on Strait of Hormuz Oil prices fell Thursday as investors continue to assess the latest Middle East developments amid concerns over renewed US-Iran tensions. Source: CNBC
Traders point to suspicious activity in oil market Oil contracts worth $1.7 billion changed hands in the hour before an Axios report sent oil prices lower on Wednesday. Some experts are calling the spike in activity suspicious. Source: MarketWatch
Can Asian economies cope with the fallout from the Iran war? Fuel costs, inflation, and debt pressures are testing Asian economies dependent on energy imports. Source: Al Jazeera
Africa sees winners and losers as Iran war pushes up oil prices Several African countries have sought financial help due to economic uncertainty caused by the war on Iran. Source: Al Jazeera
India’s military turns to green energy as Iran war prompts new strategy India’s military is exploring alternative energy sources — including biogas stoves, green fuels for vehicles, and solar and wind power — amid surging oil and gas prices caused by Iran war supply disruption. Source: SCMP
Europe
Rubio meets Pope Leo in bid to ease tensions after Trump’s criticism Secretary of State Marco Rubio met Pope Leo XIV at the Vatican amid increasingly fraught relations after President Trump lashed out at the pope over his criticism of the war in Iran. Sources: Guardian · NPR
More than 50,000 German pupils expected to strike over rearmament policy Tens of thousands of pupils across Germany are expected to boycott classrooms in a nationwide protest against the government’s rearmament policy, which organisers say would turn young people into “cannon fodder.” Source: Guardian
UK May elections under way as Badenoch rows back on Reform pacts Millions are casting votes in England, Wales, and Scotland. Conservative leader Badenoch told the Sun there won’t be council tie-ups with Reform, calling Farage’s party not “serious.” Source: Guardian
Starmer’s failure to show strong values ‘driving away progressive voters’ A report using research from a senior Blair and Clinton pollster says progressive voters have been driven away from Labour by a lack of vision from Keir Starmer, as Labour braces for dismal election results. Source: Guardian
STV Scotland election coverage hit by strike action over pay About 120 journalists and broadcast staff are expected to protest a pay freeze as STV invests in a new radio station. Source: Guardian
Americas
Hundreds of homes damaged in Mississippi as multiple tornadoes reported Powerful storms including at least one confirmed tornado tore through parts of Mississippi, collapsing hundreds of homes, tearing up trees, and downing power lines. No immediate reports of deaths. Source: Guardian
Republicans poised to vote on new House map erasing Democratic seat in Tennessee The move could reshape the electoral map ahead of the midterms by carving up a majority-Black congressional district. Source: Guardian
DRC leader Tshisekedi hints at possible rule beyond second term President Tshisekedi evoked a possible third term and a potential delay of the presidential vote due in 2028, citing turmoil in the volatile east. Source: France 24
Asia-Pacific
China announces suspended death sentences for former defence ministers The announcement follows the recent ousting of several top officials in China’s military. Source: BBC
Three women linked to Islamic State arrested in Australia on return from Syria Three women who allegedly supported IS were arrested after flying home to Australia for the first time in years, part of a group of 13 women and children detained for more than seven years in Syrian camps. Sources: BBC · Guardian
Vigils across Australia for five-year-old Kumanjayi Little Baby Hundreds gathered at vigils nationwide to mourn the Warlpiri girl who was found dead after going missing from an Aboriginal town camp in Alice Springs. Advocates say her death should not be politicised. Sources: BBC · Guardian
Markets & Business
S&P 500 futures up 0.1% as traders await US-Iran peace deal updates Source: Bloomberg
Kevin Warsh’s undisclosed wealth leaves $100 million mystery atop the Fed The Fed chair nominee has filed 69 pages of financial disclosures that mostly detail what he won’t reveal. The Senate is about to confirm him anyway. Source: MarketWatch
China’s crackdown on metals traders raises fears of global impact An investigation into circular invoicing has expanded to Shanghai, threatening to roil the industry. Source: Bloomberg
Amazon to carry Ozempic pill at US kiosks with same-day delivery Amazon’s pharmacy will stock Novo Nordisk’s Ozempic pill for type 2 diabetes at its kiosks and offer same-day delivery. Source: CNBC
Peloton beats estimates as subscription price rises boost revenue Peloton posted net income of $26.4 million, reversing a loss of $47.7 million from the same quarter a year ago. Sources: CNBC · Quartz
DoorDash stock pops on record orders but revenue missed The delivery company beat earnings estimates and logged 933 million total orders, but revenue of $4.04 billion fell short of expectations. Source: Quartz
Bitcoin technical action points to crypto bull market, says Fundstrat’s Tom Lee Activity in recent months points to a bullish phase for cryptocurrencies, according to Fundstrat. Source: MarketWatch
Sports
PSG fans celebrate reaching Champions League final Fans of Paris Saint-Germain celebrated late into the night after their victory over Bayern Munich secured their place in the Champions League final on May 30. Source: France 24
Other Notable Stories
France resumes genocide probe against Rwanda ex-president’s widow France’s judiciary ordered the resumption of an almost two-decade investigation into accusations that Agathe Habyarimana was involved in the 1994 genocide, overturning a previous dismissal. Source: France 24
Hantavirus cruise ship passenger speaks from isolation A passenger from the cruise ship hit with a Hantavirus outbreak spoke to Al Jazeera from isolation. Source: Al Jazeera
US judge releases Jeffrey Epstein’s purported suicide note Epstein’s former cellmate claims he found the note, which has not been verified. Source: BBC