Breakfast News Recap: Hormuz tensions deepen as strikes, blockade and oil shock rattle markets
US and Iranian forces exchanged fresh strikes for a third consecutive night, with the confrontation now spilling into shipping and energy markets as President Donald Trump ordered a blockade of the Strait of Hormuz and oil prices jumped. 🔗
Sponsored
The US Navy said a new blockade at the entrance to the strait will begin on Tuesday night, while gold fell about 3% after the announcement, underlining how quickly investors are repricing the risk from the crisis. 🔗 🔗
In the latest maritime incident, two United Arab Emirates oil tankers were struck in the Strait of Hormuz, killing an Indian crew member and injuring eight other people, according to the UAE. 🔗
Across the Middle East, the European Commission unveiled an initial package of almost 900 million euros, about $1bn, for Gaza recovery work as donors met in Brussels, while Azerbaijan's President Ilham Aliyev told a media forum in Shusha that peace remains achievable despite wider regional instability. 🔗 🔗
Sponsored
In Europe, Ukraine and nine European countries launched a new coalition in Paris to develop a shared anti ballistic missile capability, and the UK said it is set to designate Iran's Islamic Revolutionary Guard Corps as a terrorist organisation and impose sanctions amid concerns over antisemitic attacks. 🔗 🔗
Elsewhere on the continent, Hungary's parliament approved a constitutional amendment that would remove President Tamas Sulyok from office, in a move tied to the new government's anti Orban push, while a wildfire south east of Paris in the Fontainebleau forest entered its second day and forced horses to be evacuated from a nearby equestrian centre. 🔗 🔗
In Asia and the Pacific, Thailand's prime minister said 27 bodies had been recovered after a fire tore through the Rong Beer Na Lat Phrao bar in northern Bangkok, and Australia warned that Russian linked hackers are actively targeting critical industries. 🔗 🔗
Japan said it needs to counter foreign espionage more rigorously after a report alleged Russia had used the country as a hub for intelligence activity, while India faced opposition criticism over a change to the Election Commission's online Form 6 voter registration process. 🔗 🔗
Sponsored
In the United States, a federal judge ruled that Donald Trump's lawsuit against the Internal Revenue Service manipulated the justice system in a self dealing case, and Trump separately amplified claims of vandalism at the Reflecting Pool without signalling any foreign policy shift. 🔗 🔗
Separately, the Democratic Republic of the Congo's Ebola response was disrupted as the outbreak spread to two more provinces and hospital staff at Rwampara General Hospital in Ituri went on strike, adding to pressure on containment efforts. 🔗
Financial glimpse
Wall Street closed mixed, with the S&P 500, Nasdaq Composite and Dow all lower as energy strength and a sharp Meta rally were offset by weakness in chips, small caps and defence names. WTI crude jumped. 🔗
Asia Pacific finished mixed, with Hong Kong rallying and Tokyo firmer, while South Korea's Kospi slumped more than 10% as oil shock worries and a sharp rise in WTI to $80.28 hit sentiment. 🔗
Europe opened mixed, with the FTSE 100 and DAX lower but the CAC 40 and Euro Stoxx 50 higher, as Brent crude surged to $85.39 and gold retreated. 🔗
Sources in this recap
- 🔗 Indian crew member killed as UAE says tankers were hit in Strait of Hormuz
- 🔗 US and Iran exchange strikes for a third night as Trump orders Hormuz blockade and oil prices jump
- 🔗 US Navy says new blockade of Strait of Hormuz will begin Tuesday night
- 🔗 Bangkok bar fire kills at least 27 as investigators examine electrical fault
- 🔗 Aliyev says peace remains possible at global media forum in Shusha
- 🔗 Ebola outbreak in DR Congo spreads to two more provinces as hospital staff strike
- 🔗 Ukraine and allies launch anti-ballistic missile coalition in Paris
- 🔗 Andy Burnham secures Labour backing in bid to become UK prime minister
- 🔗 Australia warns of active Russian-linked hackers targeting critical industries
- 🔗 US escalates campaign against International Criminal Court as Rubio vows to dismantle it
- 🔗 UK set to designate Iran's IRGC as a terror organisation amid antisemitic attack concerns
- 🔗 Fontainebleau forest wildfire south of Paris enters second day amid arson inquiry
- 🔗 Hungary parliament votes to remove President Tamas Sulyok in latest anti-Orban move
- 🔗 European Commission launches Gaza recovery initiative as donor backing expands
- 🔗 Japan says it must counter foreign espionage more rigorously after Russia report
- 🔗 India opposition demands rollback of Election Commission Form 6 change
- 🔗 Judge says Trump IRS settlement manipulated the court in self-dealing ruling
- 🔗 Trump amplifies claims of vandalism at the Reflecting Pool, no foreign-policy shift signaled
- 🔗 Gold falls 3% after Trump reimposes naval blockade on Iran
#Hormuz #oilprices #MiddleEast #markets #security #breakingrecap #recapbreakfast
Sponsored
