Middle East diplomacy appeared to falter after a meeting between Iran and other Gulf powers was postponed. At the same time, attacks along the region's two most important oil transit routes deepened concerns about global energy supplies.
The Houthi capture of Yemen's Red Sea coastline is reshaping the balance of power in the Gulf, strengthening Iran's hand and confronting Saudi Arabia and itsneighbors with a difficult choice: absorb mounting costs or seek accommodation with Tehran.
Oil prices rose about 3% after new strikes on Saudi Arabian energy and civilian infrastructure and Iranian attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline.
In other news
President Trump called on Ukrainian President Volodymyr Zelenskiy to stop targeting Russian diesel infrastructure, saying the attacks were causing a shortage of the fuel that is "hurting the world".
Hundreds of Indonesian rescuers, including the coast guard and the navy, raced to board a passenger ship that capsized in the Java Sea over the weekend as they searched for 129 people still missing.
Sweden's center-left opposition looked set to form the next government as preliminary election results showed it holding a narrow three-seat lead over the right-wing ruling parties with most of the votes counted.
Technology correspondent Deepa Seetharaman tells the Reuters World News podcast what's driving the fears and discusses whether slowing down is even possible.
Latvia's airBaltic voluntarily filed for protection under Chapter 11 of the US Bankruptcy Code in New York as part of a restructuring to reduce debt as the Iran war piles stress on the airline sector.
Nigerian billionaire Aliko Dangote launched Africa's largest share sale yet with the initial public offering of his oil refinery, opening up ownership of the plant to retail investors and raising money for its expansion.
US electric vehicle maker Tesla has established a subsidiary in Vietnam, according to a newly published business registration filing, marking its formal entry into one of Southeast Asia's fastest-growing EV markets.
Trump speaks at the Republican National Midterm Convention in Dallas, Texas. REUTERS/Evan Vucci
President Donald Trump said the United States can afford his promise to send $5,000 to every US adult should his Republican Party keep control of Congress in this year's elections.
"I don't know but it's easy if the Republicans win. $5,000 to all adults in the country and we can easily handle that because we're taking in so much money," Trump told reporters when asked if Congress would need to approve the payments, adding that trillions of dollars were coming into the country.
But any such payment would need to be approved by Congress. "Of course, the devil's in the details. We have to figure all that out," House Speaker Mike Johnson, a Louisiana Republican, said.
