Canada-led NATO mission in Latvia extended
Following the announcement of the extension of the Canada-led NATO mission in Latvia, Latvian Prime Minister Evika Siliņa said that cooperation withi...
Oil prices rose on Wednesday amid renewed supply concerns following U.S. President Donald Trump’s threat to impose tariffs on India for continuing to purchase oil from Russia.
As of 10:44 a.m. local time (0744 GMT), international benchmark Brent crude increased by 0.74% to $67.97 per barrel, up from $67.47 in the previous session. Meanwhile, the U.S. benchmark West Texas Intermediate (WTI) crude climbed 0.72% to $65.04 per barrel, compared to $64.57 previously.
The uptick in prices comes as Trump’s special envoy, Steve Witkoff, arrived in Moscow for talks related to the ongoing conflict in Ukraine. Russian state media outlet RT confirmed the visit, while Kremlin spokesperson Dmitry Peskov said a direct meeting with President Vladimir Putin was still under consideration.
Witkoff’s visit precedes a Friday deadline set by Trump, who has warned of sweeping new sanctions, including 100% tariffs and secondary sanctions targeting Russia’s trade partners if meaningful progress on a Ukraine ceasefire is not achieved.
Trump previously stated that any decision regarding additional sanctions would depend on the outcomes of Witkoff’s meetings in Moscow. Over the weekend, he also took to social media to criticise India, accusing it of benefiting from reselling Russian oil and vowing to “substantially raise” tariffs on Indian goods.
“They don’t care how many people in Ukraine are being killed by the Russian War Machine,” Trump wrote. “Because of this, I will be substantially raising the Tariff paid by India to the USA.”
Additional support for rising oil prices came from data suggesting a decline in U.S. crude inventories. According to figures from the American Petroleum Institute, U.S. commercial crude stocks dropped by 4.2 million barrels last week, pointing to a rebound in demand.
Official inventory figures are expected later on Wednesday from the U.S. Energy Information Administration.
In a separate development, OPEC and its allies (OPEC+) announced that eight member states would increase oil output by a total of 547,000 barrels per day in September compared to August, in a bid to recover global market share.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
Kuwait says oil prices will likely stay below $72 per barrel as OPEC monitors global supply trends and U.S. policy signals. The remarks come during market uncertainty fueled by new U.S. tariffs on India and possible sanctions on Russia.
Following the announcement of the extension of the Canada-led NATO mission in Latvia, Latvian Prime Minister Evika Siliņa said that cooperation within the Alliance had been elevated to a new level.
Ukrainian President Volodymyr Zelenskyy said on Tuesday that Türkiye, Gulf states or European nations could host potential talks with Russian President Vladimir Putin.
U.S. President Donald Trump has said he wants to commence denuclearization talks with Russia and China, revisiting an issue he raised earlier as he also seeks to revive stalled diplomacy with North Korea.
Belgium’s prime minister Bart De Wever has called for Russian assets frozen since the outbreak of conflict in Ukraine to remain in the Euroclear securities depository in Belgium.
A quarter of the world’s population, 2.1 billion people, still lack access to safely managed drinking water, according to a new WHO and UNICEF report marking World Water Week 2025.
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