Oil prices rise sharply after Iran launches attacks on tankers near strait of Hormuz 08. July 2026 (17:45) Brent crude benchmark rose to more than $78 a barrel, its steepest increase since ceasefire beganOil markets have recorded the sharpest price rise in nearly two months after a series of attacks on fossil fuel tankers near the strait of Hormuz led Donald Trump to declare that the ceasefire deal with Iran was “over”.Brent, the global crude benchmark rose by 5% on Wednesday to more than $78 (£58) a barrel, the highest price since the US and Iran agreed the ceasefire while negotiating an end to the war last month. Continue reading...(The Guardian)
Treasury yet to do due diligence on finding extra money for UK’s Nato spend 08. July 2026 (17:30) How to hit the 3.5% of GDP defence spending promise would be a matter for ‘the next prime minister’, MPs told The Treasury has as yet carried out no analysis of the trade-offs necessary for the UK to hit the 3.5% of GDP defence spending promise made to Nato, chief secretary Lucy Rigby has said.Under robust questioning in a joint session of the Treasury and defence select committees on Wednesday, Rigby repeatedly said that how to fund additional defence spending would be a matter for “the next prime minister”. Continue reading...(The Guardian)
