Forecasters now predict that the coming El Niño—a warming of the Pacific Ocean that deeply affects global weather patterns—is likely to be as severe as the one in 2023-2024, which triggered severe flooding and prolonged heatwaves around the world.
The conflict has driven up the price of oil and natural gas; damaged oil refineries, tanker terminals and other energy infrastructure; disrupted shipments of fertiliser that the world's farmers depend on; and damaged the confidence of businesses and consumers.
Our job is not to try and please the president: JAKE TAPPER: Here's another question, in the midst of these major earth shaking issues surrounding the ceasefire last night, life and death issues, why was President Trump so focused on attacking CNN for an accurate report we put out on a real statement put out by Iranian government officials?
Under the current ceasefire, fewer than 15 ships per day are permitted to transit the Strait of Hormuz. This movement is strictly contingent upon Iran's approval and the enforcement of a specific protocol.
The dollar index held broadly steady on Thursday, as a fragile ceasefire between the US and Iran kept investor sentiment cautious. Reports that oil tanker transit through the Strait of Hormuz remains constrained, alongside some ongoing tensions in the Middle East, have kept markets on edge.