live Oil prices fall as Iran vows retaliation over U.S. sanctions
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concer...
The United States on Tuesday formally congratulated Friedrich Merz on his election as Germany’s new chancellor, reaffirming its commitment to close transatlantic cooperation amid evolving global challenges.
“We congratulate Friedrich Merz on his election as chancellor in Germany,” said U.S. State Department spokeswoman Tammy Bruce during a press briefing. “We will continue to work with Germany and its next government to ensure the security of the United States and Europe.”
Merz, the leader of Germany’s Christian Democratic Union (CDU), was elected chancellor by the Bundestag on Tuesday in a second round of voting, following weeks of coalition negotiations. His party secured a governing majority in alliance with the Social Democrats after snap elections held on February 23.
With his confirmation, Merz becomes Germany’s 10th chancellor since World War II, succeeding Olaf Scholz and marking a shift toward more conservative leadership in Berlin. His election is expected to influence Germany’s domestic economic policy as well as its approach to NATO, EU integration, and relations with Washington.
The White House has not yet issued a statement, but officials indicated that President Donald Trump is expected to speak with Chancellor Merz in the coming days to extend congratulations and discuss shared priorities.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
Pakistani exporters are facing soaring shipping costs to the U.S., with freight rates more than tripling on some routes as the Iran-U.S. conflict drives up war-risk insurance and fuel costs.
The trial of a Libyan man accused of building the bomb that destroyed Pan Am Flight 103 over the Scottish town of Lockerbie in 1988, killing 270 people, has been postponed by a U.S. federal judge.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
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