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Oil prices have declined as hopes rise for renewed diplomatic engagement between the United States and Iran. Markets are reacting to the prospect of eased tensions that could reduce supply risks in the region. Analysts are watching closely for any concrete signals that negotiations might progress, with further moves in crude prices likely to depend on the outcome.

Australia's central bank is expected to resume lifting its key interest rate, with policymakers losing patience over persistent price pressures. Bloomberg reports the Reserve Bank of Australia is set to return to rate hikes after a pause, as inflation remains above target. Markets and economists are watching for confirmation at the next board meeting and what it signals for borrowing costs.

Oil prices rose sharply following renewed attacks by Yemen's Houthi movement and growing fears of escalation between the United States and Iran. Traders are pricing in the risk that the confrontations could disrupt shipping and supply through the Middle East. Analysts warn that any direct US-Iran confrontation could push prices higher still, keeping energy markets on edge.

Gaza's media office says 262 Palestinian journalists have been killed by Israel since the Gaza war began in October 2023, according to a report carried by Anadolu Agency. The figure underscores the toll on media workers covering the conflict, and press freedom groups have repeatedly raised concerns about reporter safety in the territory.

Counter-terror police have arrested five men on suspicion of explosives offences near RAF Fairford in Gloucestershire, the UK airbase used by the United States to strike Iranian targets. Around 85 homes in the nearby village of Whelford have been evacuated as an investigation led by counter-terrorism officers continues.

European governments are rolling out tax cuts and subsidies in an effort to cushion households and businesses from record-high fuel prices. The measures reflect growing political pressure across the continent as energy costs strain consumers and feed into broader inflation concerns. Officials are weighing how to keep relief targeted without worsening budget deficits.

Senator Elizabeth Warren has introduced legislation that would prohibit private equity firms from owning medical practices. The bill targets concerns that investor ownership drives up healthcare costs, cuts staffing, and prioritizes profits over patient care. Supporters see it as a push to keep medicine in the hands of clinicians, while critics are expected to argue it limits capital investment in healthcare practices.

Ukrainian President Volodymyr Zelenskyy said Russian forces hit a data centre in Kyiv twice during a morning attack, according to a Ukrainian news report. The strike targeted critical digital infrastructure in the capital amid ongoing Russian air assaults on Ukrainian cities, though details on damage or casualties were not immediately provided.

President Trump said the United States will "win this war very soon" and that oil prices should fall sharply once the conflict ends. He framed the key objective as preventing Iran from obtaining a nuclear weapon. The remarks come amid ongoing fighting and continued attention to energy markets, with analysts watching how quickly oil prices might react to any resolution.

Experts say a plan backed by Donald Trump to license production of Patriot missiles to Ukraine could take years to implement, according to ABC News. The assessment tempers expectations that the arrangement would quickly boost Ukraine's air defenses, as setting up licensed manufacturing involves lengthy negotiations, industrial preparation and regulatory steps.

British police are investigating a suspected terrorist plot near a UK military base used by American forces. Details about suspects, targets, or the alleged plan have not been disclosed as inquiries continue. The case has drawn international attention given the involvement of a base hosting US personnel, raising questions about security arrangements and potential threats to American service members stationed in Britain.

The European Commission has called on EU member states to reduce their gas and electricity consumption amid rising energy prices. The appeal comes as households and industry across the bloc face high bills, and it signals Brussels' push for demand-side measures to ease pressure on the market. Member states' responses and any binding targets remain to be seen.

India has told the United Nations that countries far removed from conflict zones are paying the price for wars that are not their own, highlighting how the effects of distant conflicts spill over through food and energy price shocks, disrupted trade and humanitarian strain. The intervention underscores India's long-standing argument that global institutions should better reflect the concerns of developing nations affected by wars they did not start.

President Donald Trump said the conflict with Iran will be over 'soon' and predicted oil prices will plunge once it ends. His comments come as markets watch the Middle East conflict closely, with energy prices sensitive to any escalation or de-escalation. Observers are weighing whether the forecast reflects genuine expectations of a rapid resolution or an attempt to calm markets.

Counter-terror police in the UK are investigating a suspected Iranian link to an alleged plot to bomb an RAF base. The inquiry is at an early stage and few details have been released about the suspects or the specific target. The case has drawn attention amid already strained relations between the UK and Iran.

Iran's foreign minister declared that the country is prepared for both diplomacy and war, saying Iran has been tested twice through what he called acts of aggression and would welcome any further test. He added that Iran has also been tested in the diplomatic arena and has proven itself there, framing the country as ready on both fronts amid ongoing tensions.

Oil prices declined as markets weighed renewed U.S.-Iran diplomacy against ongoing tensions in the Middle East. Traders appear to be balancing the possibility of eased sanctions and higher supply against the risk of disruption to oil flows in the region. The headline, from the Wall Street Journal, suggests markets are taking a cautious, wait-and-see stance. Details on the size of the price drop or the state of negotiations are not provided in the available post.

Poland's deputy defence minister says the country is ready to host a Patriot missile factory for Ukraine, should Kyiv secure the necessary agreements. The statement, reported by Agenzia Nova, signals Poland's willingness to expand defence-industrial cooperation to support Ukraine's war effort against Russia and strengthen NATO's eastern flank.

Donald Trump said the United States will soon 'win' its conflict with Iran, predicting that oil prices will fall once the fighting ends and suggesting fresh strikes could come before the US midterm elections. The comments add to speculation over whether Washington will escalate military action against Tehran, with energy markets and voters watching closely for signs of what happens next.

Minutes from the Bank of Japan's July policy meeting show some board members called for raising interest rates faster than planned, citing persistent inflation pressure. The discussion signals growing debate within the central bank over the pace of its exit from ultra-loose monetary policy, even as it holds rates near historic lows.

The European Union has floated possible curbs on energy demand in a letter circulated to member states, as officials search for ways to tackle the ongoing energy price crisis. The letter, reported by Bloomberg, signals Brussels is considering demand-reduction measures alongside other interventions. The proposal is likely to spark debate among member governments over how far the EU should go in rationing or restricting energy use.

The European Commission is urging member states to reduce energy demand ahead of winter, as gas prices face a squeeze on supply. Energy Commissioner Dan Jørgensen said the EU is not facing an immediate gas-security crisis, but a price-and-supply squeeze that could worsen, prompting calls for national measures to lower consumption and prepare for a tighter winter season.

President Donald Trump has granted Ukraine a license to manufacture Patriot missiles domestically, according to President Volodymyr Zelensky. The announcement, reported by the Jerusalem Post, would mark a significant step in Ukraine's push to produce advanced air defense systems at home as it faces continued Russian missile and drone attacks. The move is being read as a major boost to Ukraine's defense industry and air defense capacity.