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Saudi Arabia
Yemen's Houthis claim attack on Saudi Arabia refinery, 11 dead
Strikes by Iran-backed Houthi rebels on Sunday killed at least 11 people in the Yemeni port city of Mokha, says a medical source, after an earlier drone salvo targeted a Saudi oil refinery. Attacks from the armed group have increased since the 2022 truce seems to have been broken last month.
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Economy
Global oil demand set for first annual drop since COVID, IEA says
Global oil consumption is on course to shrink this year for the first time since the COVID-19 pandemic, the International Energy Agency has said, as the war between the US and Iran throttled Gulf exports, though the IEA also noted supply increased in June.
Markets
Oil jumps as Trump declares Iran ceasefire over, European stocks slide
Crude oil prices rose more than 6% to a two-week high after US President Donald Trump declared the interim accord to end the war with Iran "over", while fresh US military strikes renewed concerns about oil supplies through the Strait of Hormuz.
Economy
OPEC+ agrees another modest output rise as oil prices continue to fall
Seven countries in the OPEC+ alliance agreed to lift their combined oil output by a modest 188,000 barrels per day in August, adding supply just as crude prices slide back to levels not seen since before the Iran war erupted.
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Watch: Moment Trump signs US-Iran agreement at Versailles
US President Donald Trump signed a memorandum of understanding with Iran at the Palace of Versailles on 18 June, marking a significant diplomatic step aimed at easing the Middle East conflict that has unsettled the region since February.
