Day News Recap: US Iran strikes widen as Gaza toll rises and Europe tightens pressure on Russia
The biggest escalation remained the widening US Iran exchange of strikes, now in its seventh consecutive night, with attacks spreading across the Gulf and hitting critical infrastructure. Iran said it was suspending its commitments under an interim agreement with the United States, while a senior Iranian official warned Tehran could move beyond retaliation if Washington keeps up its military action. 🔗 🔗Damage from the Gulf fighting also spread to energy and utilities. A power generation and water desalination plant in Kuwait caught fire after a fresh wave of attacks attributed to Iran, and Gulf oil exporters were moving faster to... [Continue Reading]
360LiveNews Recap | 18 Jul 2026 18:20 LONDON
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IMF warns oil buffers are running low after Hormuz disruption
The International Monetary Fund has warned that depleted oil reserves have left the global economy more exposed after the latest disruption to the Strait of Hormuz. The warning comes as oil prices have risen by more than 10% following the most recent closure of the waterway. The IMF said the world was spared a more severe shock because of large reserves, but that those buffers are now running low.In a note cited in the supplied material, the fund said lower oil consumption in Asia and higher production outside the Gulf helped absorb part of the price shock. It said global... [Continue Reading]
360LiveNews | 15 Jul 2026 11:59 LONDON
