Oil prices rise despite US-Iran ceasefire extension, European stocks fall amid Mideast uncertainty
via Punch Nigeria2 min read
Oil prices increased on Wednesday, with Brent North Sea crude nearing $100 a barrel and West Texas Intermediate trading above $90, despite a ceasefire extension between the US and Iran. European stock markets, including the FTSE 100, CAC 40, and DAX, saw declines due to ongoing uncertainty surrounding Mideast peace talks. Asian equities experienced mixed trading as investors awaited clarity on the conflict. Susannah Streeter, chief investment strategist at Wealth Club, noted that the ceasefire extension has not calmed nerves, as worries persist about the energy squeeze's impact on the global economy and the elusive resolution to the conflict. Iranian gunboats reportedly attacked a container ship in the Strait of Hormuz, even after US President Donald Trump announced the ceasefire extension to allow more time for negotiations. Trump stated that the US blockade of Iran's ports would continue while Pakistani mediators attempt to revive dialogue. The Strait of Hormuz has been largely closed by Tehran since attacks by the United States and Israel seven weeks ago, which led to the Middle East war and rising energy prices, threatening global economic growth. Christopher Wong, a strategist at Oversea-Chinese Banking Corp., suggested that the US and Iran might be seeking leverage, and the interim suspense could curtail risk appetite. Meanwhile, senators held a confirmation hearing for Kevin Warsh, Trump's nominee to replace Federal Reserve boss Jerome Powell. Warsh affirmed his indepe
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Pope Leo XIV shared a lighthearted moment with journalists aboard his flight to Spain, humorously revealing his personal football preference. When asked if he supported Real Madrid or Barcelona, the Pope, smiling, stated, "That's easy: the Pope is for all teams, but Robert Prevost is for Real Madrid!" This comment, reported by Vatican News, elicited laughter from the more than 80 journalists accompanying him on his Apostolic Journey to Madrid, the first stop of a week-long visit to Spain. During the same informal interaction, Pope Leo XIV also addressed global issues, reiterating his call for dialogue in conflict situations, expressing concern over international crises, and emphasizing the need for peace efforts, particularly in Ukraine and Lebanon. He reaffirmed the Church’s closeness to those affected by conflict and instability. Additionally, the Pope spoke on the issue of abuse within the Church, highlighting the importance of continued attention to victims and ongoing efforts toward accountability and healing. Pope Leo XIV's visit to Spain is scheduled to include meetings with ecclesial communities, civil authorities, and the faithful in Madrid, Barcelona, and the Canary Islands.
Must ReadA US man, identified as Dr. Peter Stafford, 39, who contracted Ebola while working as a surgeon for a Christian missionary group in the Democratic Republic of Congo, has been discharged from a German hospital after 17 days of medical care. Stafford, who works for the charity Serge, reportedly operated on an Ebola patient in eastern DRC before the outbreak was officially declared on May 15. He was admitted to Charite public hospital in Berlin on May 20 with pronounced Ebola symptoms. The hospital stated that his initially high viral load decreased substantially under antiviral treatment and supportive care, with no virus detected in his system since May 30. Stafford received experimental therapies during his treatment. His wife, also a doctor, and their children were in quarantine as high-risk contacts but were also discharged in good health. The Bundibugyo strain of Ebola in the current epidemic has no approved vaccines or treatments. The World Health Organization reported 471 people infected and 84 deaths in the DRC and neighboring Uganda as of Friday. The WHO has declared an international public health emergency over the outbreak, which the US Centers for Disease Control and Prevention warned could become the largest Ebola epidemic on record.
Must ReadThe abductors of retired Major General Rabe Abubakar, former Director of Defence Information, and his wife released a video on Saturday showing the couple in captivity. The couple was abducted along the Marabar Musawa–Kafinsoli road in Matazu Local Government Area of Katsina State. In the four-minute video, the general's wife conveyed the abductors’ demands, which included the release of three of their members identified as Sani, Aminu, and Nasiru, and the return of livestock allegedly seized from them. She stated that two of the detained individuals were arrested in Jikamshi and the third in Kano. She appealed to the Katsina State Government and leaders of five local government areas to facilitate compliance with these demands. Major General Abubakar also spoke, calling for efforts to ensure peace and noting the abductors' interest in dialogue. Notorious bandit leader Kachallah Muhammad, who operates in parts of Katsina State, has reportedly established communication with the general's family. As of the report's filing, neither the Katsina State Government nor security agencies had issued an official statement on the video.
David Sullivan announced his immediate resignation as joint-chair of West Ham on Saturday, June 6, 2026. The 77-year-old stated he is stepping down from his 16-year role to address what he described as "factually incorrect and entirely false, decades-old allegations concerning my personal life." Sullivan, who built a business empire in the adult industry, categorically denied these claims, stating they have been sensationalized by the media. He emphasized that this was a painful decision made out of love, respect, and responsibility towards the football club and its fanbase, which he believes deserves unity and focus. Sullivan and business partner David Gold took over West Ham after selling Birmingham, bringing Karren Brady as vice-chairman. Their tenure included the unpopular move from Upton Park to the former Olympic Stadium in 2016, which led to numerous anti-board protests from supporters, even before the club's relegation from the Premier League this season. West Ham stated they would provide an update on the future board structure in due course and would not comment further at this time. Czech businessman Daniel Kretinsky, who bought a 27 percent stake in the London club in 2021, is reportedly expected to increase his holding.