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• Global oil prices have dropped to their lowest levels since before the US-Iran war, reversing the surge caused by the closure of the Strait of Hormuz. • The price decline is driven by trader optimism that a new US-Iran agreement will successfully reopen the critical waterway for shipping. • On Tuesday, the Senate passed a resolution directing the president to withdraw military forces from the conflict, signaling a lack of congressional support for the 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.

• The S&P 500 and Nasdaq declined for the third consecutive day on June 24, 2026, driven by renewed selling pressure in the technology sector. • AI chip designer Cerebras (CBRS) saw its shares tumble 20% following its first public earnings report, which forecast a gross margin contraction of up to 10 percentage points this quarter. • Oil prices dropped to their lowest level since the start of the war, while FedEx (FDX) shares dipped slightly despite reporting quarterly results that beat Wall Street estimates.

Australian Bureau of Statistics figures show migration growth is above pre-pandemic levels but tracking steadily downGet our breaking news email, free app or daily news podcastNet overseas migration added 301,000 people to Australia’s population last year, the lowest increase since mid-2022 but still above the pre-pandemic pace.The new figures from the Australian Bureau of Statistics come amid an increasingly fraught political debate around immigration, following Pauline Hanson’s declaration that our society should be “monocultural”. Continue reading...

Film starring Pedro Pascal next to ‘Baby Yoda’ took $165m globally on opening weekend, failing to surpass the opening of 2018 flop SoloThe Mandalorian and Grogu may have blasted into first place at the box office – but its launch was far, far away from impressive, having the lowest opening weekend for a Star Wars film since Disney took over the franchise.The film, which stars Pedro Pascal as the titular helmeted warrior who travels the galaxy with a tiny companion better known as “Baby Yoda”, made $102m at the domestic box office (North America and Canada) over the US’s four-day Memorial day weekend, contributing to a total $165m global box office. Continue reading...

US president’s approval rating falls to 37% days after he said Americans’ financial situation is not motivating him to broker deal with IranDonald Trump’s approval rating has fallen to its lowest point of his second term, amid mounting frustration over the cost of living and the US-Israel war on Iran.As November’s US midterm elections loom, most American voters believe Trump’s decision to go to war with Iran was the wrong choice, according to polling released on Monday. Continue reading...

Environmentalists hail decline but warn weakened laws could reverse gainsBrazil’s Atlantic forest, the country’s most threatened biome, last year recorded its lowest level of deforestation since monitoring began 40 years ago, a new report shows.The forest is Brazil’s most populous biome, and home to 80% of the population and major cities such as Rio de Janeiro and São Paulo. In 2025 it recorded 8,658 hectares of deforestation, marking the first time it has fallen below 10,000 hectares since 1985. Continue reading...

The World Press Freedom Index, which assessed 180 countries, finds established journalism is ‘being asphyxiated’Press freedom around the world is at its lowest ebb in a generation, according to an influential annual index that highlights growing authoritarian pressure on the media.The average score for the 180 countries assessed by the World Press Freedom Index, compiled by Reporters Without Borders (RSF), was the lowest in the index’s 25-year history. Continue reading...

ONS data for three months to February is not expected to alter Bank of England’s decision on interest ratesUnemployment in the UK unexpectedly fell in the three months to February, according to official figures – but the fallout from the conflict in the Middle East is expected to cause a rise in job cuts.The Office for National Statistics (ONS) said that the rate of unemployment was 4.9% in the three months to February. This compares with 5.2% in the three months to January, a rate that economists had expected to also see in February. Continue reading...

Government allocated 0.43% of national income to aid in 2025, with total spend down £1bn on previous yearThe UK government’s spending on foreign aid has hit its lowest level in nearly two decades, figures show, as humanitarian experts warn the cuts are costing lives.Provisional data shows the government allocated 0.43% of national income to official development assistance (ODA) in 2025, a decrease from 0.5% in 2024 and matching the level in 2008. Continue reading...

• President Trump's approval rating dropped to 41% in a Fox News poll released last week, with 59% of voters disapproving, marking the lowest point of his second term. • A war abroad and stalled domestic agenda are colliding with weakening polls, raising alarms inside the GOP as midterm fears grow. • The declining ratings underscore challenges for Republicans heading into elections, potentially impacting party strategy and legislative priorities.

• The US Composite PMI dropped to 51.4 in March 2026, marking its lowest level since April 2025 and indicating slowing economic growth across the board. • Business activity hit an 11-month low driven by softened orders and price surges, with the services sector leading the slowdown while manufacturing remained more resilient. • Employment fell for the first time in over a year amid weakening confidence, while sharp input cost rises pushed selling prices higher across the economy.

• The US long winter COVID-19 wave is ending with all major metrics showing declines or plateaus in SARS-CoV-2 spread nationwide as of mid-March 2026. • COVID-19 test positivity dropped to 2.5% for the week ending March 14, the lowest since 2022, while emergency department visits for COVID reached just 0.4%. • Cases are declining or likely declining in 45 states per CDC forecasts as of March 17, with flu-like illness visits down 12% to 3.3% and RSV levels also falling.

• The FTSE 100 fell 1.44% on Friday to close at 9,918, down approximately 9% since the Iran conflict began and at its lowest level since December 2025, reflecting broad market weakness across UK equities. • The FTSE 250 mid-cap index declined 1.01% on the day and has dropped 11.3% since the start of the conflict, hitting its lowest level since November 2025, indicating selling pressure across market capitalizations. • Oil prices climbed despite geopolitical uncertainty, with West Texas Intermediate (WTI) rising 2.8% to $98.50, though the Brent-WTI spread has widened sharply, signaling market stress and supply concerns.

Figures seen by the Guardian show the two peers each attended just 1.12% of sessions in past four yearsEvgeny Lebedev’s longstanding commitment to being the most relaxed member of the House of Lords has come under threat from another peer, Ian Botham, with both recording identical attendance rates of 1.12% over the past four years.According to Lords records seen by the Guardian, Lebedev and Botham – who were both appointed by Boris Johnson – each managed to make it to seven of the 625 sessions of the upper house that took place from the start of 2022 to the end of 2025. Continue reading...

The 2025-2026 flu season is concluding with one of the lowest vaccine effectiveness rates in more than a decade, with the CDC reporting effectiveness of approximately 25-30% in preventing adults from needing medical care, according to data released Friday. A viral mismatch between the vaccine strain and dominant H3N2 variant that emerged early winter caused the poor performance, with vaccination proving more protective in children at around 40% effectiveness against medical visits. Despite low effectiveness, the CDC estimates 27 million illnesses, 350,000 hospitalizations, and 22,000 deaths from flu this season—substantially lower than the prior year's 40 million illnesses and 520,000 hospitalizations at the same point.