​  ​

Oil prices plummet as Iran declares Strait of Hormuz “open” during ceasefire7 Hours agoArchie MitchellBusiness reporterGetty ImagesOil Prices have plummeted since Iran announced that the Strait of Hormuz will be “completely opened” to commercial ships throughout the remainder of the ceasefire. The Strait of Hormuz, a narrow stretch of water south of Iran, is where a fifth of all the world’s oil, liquified gas, and a a 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 finished 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 head of the International Maritime Organization is trying to understand Iran’s commitment in reopening Strait of Hormuz. Arsenio Dominguez, the IMO’s Secretary General, said on social media that they are verifying the announcement regarding the reopening of Strait of Hormuz to ensure it complies with freedom of navigation and secure passage for all merchant vessels 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 to do so on Friday. However, the price of filling up a tank is still 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, a senior climate and commodities analyst, said that the ceasefire due to end in 9 days “offers a very narrow window of time for oil tankers” to navigate the Strait and load up before leaving. He said that although the number of vessels entering into the Strait has not yet returned to pre-war levels, it does allow trapped tankers a chance to leave. Professor ManMohan Sodhi from the Bayes Business School added that consumers would continue to feel the pressure if a long-term peace agreement is reached. “Supply chain clearing will take months,” he said. UK petrol and diesel prices drop after weeks of increases. Europe has’maybe 6 weeks of jet fuel remaining’, energy boss warns. Middle EastFuelIran War

​  ​

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 Pope waved to the crowds waiting for him in his vehicle, the Popemobile. “Reject all forms of abuse or violence that deceives with promises of easy gains, 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 “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.

​  ​

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.

​  ​

Daniel Kinahan, an Irish fugitive suspected of being a crime boss, was arrested in Dubai 8 hours agoCollins photo agency. The US government imposed sanctions against him in April 2022, after he and members of his family had been identified as the leaders of the Kinahan organized crime cartel. 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. The arrest is part of efforts to combat cross-border crime. The arrest is part of efforts to fight cross-border crimes. The Irish Department of Justice, Home Affairs and Migration minister Jim O’Callaghan welcomed this arrest. He said: “Today’s arrested follows my request to UAE for extradition of the individual to face charges here in Ireland.” “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.

​  ​

Ceasefire between Israel and Lebanon brings respite, but obstacles remain to peace17 hours agoHugo BachegaMiddle Eastern correspondent, BeirutReutersAt midnight, gunfire, fireworks, and other sounds marked the beginning of the ceasefire. The 10-day ceasefire comes after six weeks of devastating conflict between Israel, the Lebanese Shia Muslim political party, and Hezbollah. It brings some relief to a country that has been exhausted by the conflict. More than 2,100 people, or about one fifth of the population, were killed in the conflict, according to Lebanese authorities. Over a million people, or approximately one fifth of the population, had been displaced, creating a pressing humanitarian crisis. In some areas, the damage has been too severe and there is nowhere to return to. Some towns and villages near Israel’s border remain under Israeli occupation. But in the Hezbollah controlled southern suburbs of Beirut known as Dahieh the streets remained relatively calm. Israel has ravaged the area during the war and many residential buildings are now rubble. Satellite images reveal the scale of Israeli demolitions of Lebanese villages. Announced by US president Donald Trump, the ceasefire raises questions. The ceasefire does not mention Israel’s withdrawal from southern Lebanon. This has led to fears that parts of Lebanon will remain occupied after the war. Israeli officials claim that their goal is to create an area several miles wide, which they call a security buffer zone. Residents of these areas may not be allowed back. Secondly, the issue of Hezbollah weapons has divided this country for years. Hezbollah, Israel, and the US have all demanded that the group disarm. They accuse it of defending Iran’s interests and dragging Lebanon into unnecessary wars. Supporters of Hezbollah say the group is their only protection in a weak country. Hezbollah, however, has refused to discuss its future weapons. He said that there can be no separation between Hezbollah, Iran and the group. He described it as “two souls in a body”. He said that there can be no Hezbollah or Iran without Hezbollah. The government has little, if any, influence over Hezbollah. President Joseph Aoun warned that disarmament could not be achieved by force and that negotiations would be required. He also warned of the potential for violence. Observers believe that given Iran’s involvement, any decision regarding the future of weapons will likely be made in Tehran and not Beirut. Hezbollah was quiet.Trump appears to hope that the deal could be the start of a normalisation process between Israel and Lebanon, another topic of contention in the country. The two neighbours are technically at war and have no diplomatic relations. With parts of Lebanon occupied and Hezbollah yet to be disarmed, progress on that front appears, for now, unlikely.HezbollahLebanonIran war