Live updates: Global oil prices fall to lowest level since before the US-Iran war

- Global benchmark oil prices have dropped below $76 a barrel, reaching their lowest level since before the onset of the US-Iran war.
- The price decline follows a memorandum of understanding signed last week between the US and Iran to halt fighting and reopen the Strait of Hormuz.
- This agreement is significant as it offers economic relief to Iran in exchange for a pledge to never develop nuclear weapons.
- Investors are now optimistic that oil tanker traffic through the critical Strait of Hormuz will soon return to normal operations.
Sources & Citations
1 sourceMore Stories
One in four Europeans vote for hard-right parties as support doubles in ten years
• A study by the PopuList Project reveals that over 23% of Europeans voted for far-right parties in their most recent national elections, nearly doubling support over the last decade. • These populist parties are currently integrated into ruling coalitions in Italy, Finland, Czechia, and Croatia, while providing support to Sweden's right-wing minority government.
Read original · dailymail.com
Mail OnlineSome Republicans dumbfounded over Trump's housing bill move: 'What a s--- show'
• U.S. District Judge Denise Casper in Boston has issued a ruling that converts a preliminary injunction into a permanent ban on several of Donald Trump's election overhaul efforts. • The decision follows a lawsuit brought by Democratic state attorneys general, rejecting the Republican administration's claim that the legal challenge was premature.
Read original · nbcnews.com
NBC NewsAP News Summary at 11:30 p.m. EDT | Us
• The U.S. and Iran are currently in a dispute regarding whether Tehran has formally agreed to allow nuclear inspections. • Across the U.S., primary elections are underway in all 50 states to select nominees for various offices, with recent voting occurring in Maryland, New York, South Carolina, and Utah.
Read original · dailyrecordnews.comEXPLAINED: Ukraine Opens EU Talks With Justice System Still Mired in Power Struggle
• Ukraine has officially opened European Union accession talks, focusing on a set of "Fundamentals" that include democracy, the rule of law, and anti-corruption measures. • Despite this progress, the process is threatened by a persistent power struggle and unresolved judicial reforms within Ukraine's legal system.
Read original · kyivpost.com
Kyiv PostThe Senate Approves the 1795 Jay Treaty
• The U.S. Senate approved the 1795 Jay Treaty with Great Britain, establishing critical precedents for the nation's treaty-making process. • The agreement acknowledged the American economy's heavy reliance on English trade and utilized the British fleet as a strategic security shield.
Read original · cfr.orgSenior US General in Europe set to retire amid Hegseth’s review of US support for NATO allies
• General Christopher Donahue, a highly respected four-star Army general commanding U.S. soldiers in Europe, is set to retire from his post. • The retirement follows a lack of new nominations for a position consistent with his rank from Defense Secretary Pete Hegseth.
Read original · cnn.comHungary: Legislative package approved for frozen EU funds • Table.Briefings
• Hungary has approved a new legislative package designed to eliminate corrupt structures and reduce the influence of oligarchs. • A key component of the reforms involves returning universities to state control to ensure greater transparency and governance.
Read original · table.mediaLeonardo, without defense investment we will become EU subordinates
• Leonardo CEO Roberto Mariani warned that Italy must maintain its current growth in defense spending to avoid becoming "EU subordinates" to France and Germany. • Mariani noted that a sudden jump from 1.5% to 3.5% of GDP in military spending would have overwhelmed Italian industries, making a gradual investment path essential.
Read original · marketscreener.comEurope heatwave: Air conditioning creates political divide as France records hottest day
• France is reconsidering its historical reluctance toward air conditioning as the country experiences its hottest day on record. • Current adoption rates in France are significantly lower than in other nations, with only 25% of households equipped with units compared to 50% in Spain and Italy and 90% in the US and Japan.
Read original · bbc.com
BBCUS Supreme Court Narrows Foreign Human Rights Claims
• The US Supreme Court has limited the scope of foreign human rights claims, narrowing the ability to file overseas abuse lawsuits against corporations in US courts. • The ruling stems from a case involving Cisco, which faced allegations of providing technology to the Chinese government to monitor and suppress Falun Gong followers.
Read original · washingtoncentre.org‘We’re witnessing the end of the America that made our lives possible’: author Eddie Glaude on US’s 250th birthday | History books
• Princeton University professor and author Eddie Glaude has released a new book examining the historical connection between political turmoil and Fourth of July celebrations. • The text illustrates how tensions surrounding the nation's founding have historically reached a boiling point during independence day festivities.
Read original · theguardian.com