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Oil prices plummet as Iran declares Strait of Hormuz “open” during ceasefire3 Hours agoArchie MitchellBusiness reporterGetty ImagesOil Prices have plummeted since Iran announced that the Strait of Hormuz will be “completely opened” to commercial vessels for the remainder of ceasefire. The S&P 500 index, which represents the largest US-listed companies, closed up 1.2% on the back of this announcement. The Cac in Paris and Dax index in Frankfurt both closed the day around 2% higher, while London’s FTSE 100 ended the day 0.7% higher. Since the US and Israel launched their military strikes on Iran in late February, the Strait of Hormuz is effectively closed by Iran. Tanker traffic has slowed down to a trickle. This has led to a drastic reduction in the amount of oil, gas and other commodities available to global markets, causing prices spikes. It rose above $100, reaching a high of $119 per barrel by March. Later, on Friday, the price rose to $92. BIMCO’s chief safety and security officer Jakob Larsen said that the status of mine threats within the traffic separation scheme was unclear. BIMCO believes shipping firms should avoid the area. This means that the Traffic Separation Scheme has not been declared safe for transit as of yet. The IMO’s Secretary General Arsenio Dominguez stated on social media that they are verifying the recent announcement regarding the reopening of Strait of Hormuz in terms of its compliance to freedom of navigation for merchant vessels and secure transit using the IMO established Traffic Separation Scheme. The RAC motoring group said that petrol and diesel prices in the UK had dropped slightly for the first since the US-Israeli war with Iran began. Pump prices began to fall on Thursday and continued through Friday, the RAC said. However, the price of filling up a tank remains higher than it was in February. THANK YOU! “Trump added Iran had agreed to “never close the Strait of Hormuz Again… It will no longer be a weapon against a world”. The BBC reported that despite Iran’s announcement it “doesn’t change anything”. The operator, who didn’t want to be identified, said that they did not feel the need to take unnecessary risks. Their company’s approach is to not be the first through the Strait. Another company, Stena Bulk which operates oil tanks in the region said it was “monitoring the developments closely”. The company said that “the safety of our crews and vessels governs all routing decisions, and we won’t transit until we are confident it is safe”. Kieran Tompkins of Capital Economics, senior climate and commodities analyst, said that the ceasefire due to end in 9 days “offers only an extremely narrow window of time for oil tankers” to navigate the Strait and load up before exiting. The Bayes Business School’s ManMohan Sodhi said that consumers would continue to feel the pressure, even if there is a long-term peace agreement. “Supply chain will take months to clear,” said he. The drop in oil prices came as the US extended the waiver on its Russian oil sanctions, despite initially saying it wouldn’t.

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Thousands celebrate open-air Mass with Pope Leo in Cameroon – in pictures13 hours agoPaul Njie,BBC Africa, Japoma Stadium, DoualaandHafsa KhalilEPAMore than 120,000 people have joined Pope Leo XIV in Cameroon for an open-air Mass, the biggest crowd so far during his 11-day Africa tour.Arriving in the economic city of Douala on Friday, the Pope reiterated his message of peace after visiting the country’s Anglophone region hit by a decade-long rebellion the day before.He later warned of the dangers of artificial intelligence (AI), which he said was leading to the spread of “polarisation, conflict, fear and violence”.ReutersJubliant crowds welcomed the Pope as he arrived at the Japoma Stadium. The Popemobile, as it is known, waved to the crowds waiting for him. “Reject all forms of abuse or violence that deceive by promising easy gain but hardens and makes the heart insensitive,” he said. “Do not be corrupted into temptations that waste energy and do not serve society’s progress. Some attendees told the BBC that they were happy to hear the Pope and to have seen him, echoing a growing wish for peace to return to this conflict-hit country. Some worshipped by clapping their hands together, while others prostrated themselves. Some clasped their hands together, while others prostrated themselves.ReutersReutersOn the fifth day of his Africa tour – and his third in Cameroon – the Pope also visited the St Paul Catholic Hospital in Douala.And in the capital, Yaounde, he gave a speech at the Catholic University of Central Africa, in which he spoke about AI’s role in bringing about a “transformation in our very relationship with the truth”.He said that when simulation became normal, people lost touch with reality. He said that when simulation became the norm, people lost touch with reality. “We become accustomed to dialogue and encounters because we feel threatened by those who are different. This leads to polarisation, violence, and fear. The Pope also condemned “the relentless pursuit of raw materials and rare earths”, metals such as cobalt that are heavily mined and widely used in electronics and are therefore necessary for the AI boom. His 11-day tour began on Monday in Algeria, marking the world’s first visit by a Pope to a Muslim majority country. On Saturday, he travels to Angola and ends his tour of Africa in Equatorial Guinée.

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The Japan Meteorological Agency introduced a new term for days exceeding 40C after a blistering summer. Summer 2025 saw the highest temperatures since records began, with an average temperature 2.36C higher than average. Tokyo had 25 days above 35C compared to an average of 4.5 days. Kyoto recorded 52 days above the same temperatures, compared to an average of 18.5. This summer, JMA predicts that Japan will experience above-normal temperatures from June to August.

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The venue announced that the concert would not be held due to “formal and legal reasons”. Marta Cienkowska described the decision to book West, Poland’s Culture and Heritage Minister, as “unacceptable”. It comes after West cancelled a concert in France, and a week after he was banned from entering the UK to headline Wireless Festival. “I am neither a Nazi nor an antisemite,” wrote West. “I love Jewish People.” West also said that he was “lost in reality” due to his bipolar disorder. Anyone found guilty of publicly promoting Nazism in Poland can be jailed for three years. Cienkowska wrote in X that “we are talking about an antisemitic artist who has expressed antisemitic opinions, downplayed crime, and profited by selling swastika t-shirts.” “This is a deliberate cross of boundaries and normalisation of hate. “Culture can’t be a place for those who use it to spread hate. The show in Marseille has been postponed “until further notice”. The show in Marseille has been postponed until further notice.

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Daniel Kinahan, suspected crime boss, arrested in Dubai15 Hours agoCollinsPhoto AgencySuspected criminal boss Daniel Kinahan was arrested in the United Arab Emirates on a warrant from the Irish courts. According to the Irish national broadcaster RTE, Kinahan, who is in his 40s, had been arrested under a warrant that was issued by the Irish court. The US government imposed sanctions against him in April 2022, after he and members of his family were identified leaders of the Kinahan Kinahan had ties with the world of sports through his now-defunct boxing company MTK Global. This company represented more than 100 athletes, including Tyson Fury, Carl Frampton and others. The arrest is part of efforts to combat cross-border crime. The arrest is part of efforts to fight cross-border crimes. “Taoiseach Micheal Martin confirmed that he knew of an arrest in the UAE. Martin said it confirmed the “strong relationship with the United Arab Emirates regarding extradition arrangements”. He said the agreement is now working effectively and the due process will take place. “I want to congratulate all those involved in the development of today, which is a result of tireless effort. Daniel Kinahan was previously named as the head of the drug cartel in the High Court of Dublin. On February 5, 2016, an attempt on Kinahan’s life was made in what was known as the Regency Hotel Shooting. One of his associates David Byrne was shot dead and two others were injured. This incident was part of the Hutch – Kinahan feud that has cost 18 lives.