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Oil falls but head for 8% weekly gain on tight supply; US diesel hits record

Oil falls but head for 8% weekly gain on tight supply; US diesel hits record

HOUSTON, Sept 11 (Reuters) - Oil prices fell on Friday but remained on course for a weekly gain of more than 8%, while U.S. diesel prices hit a record high as attacks along Middle East shipping routes stoked concerns about prolonged supply disruptions.

Ukraine and Iran Employ Asymmetric Warfare Tactics Against Superior Military Powers

Ukraine and Iran Employ Asymmetric Warfare Tactics Against Superior Military Powers

Both Ukraine and Iran are demonstrating effective asymmetric warfare strategies against militarily superior adversaries, Russia and the U.S. respectively. This approach involves using unconventional tactics to achieve strategic effects and deny political objectives, even when facing significant battlefield damage. Ukraine has leveraged the information space and access to Western communities to build its case against Russia's actions, intensifying support for military aid from European nations. Both countries have also heavily utilized drones, loitering munitions, and missiles to target adversary infrastructure, enabling them to generate coercive effects by striking deep within enemy territory. Ukraine's resilience has prevented Russia from translating battlefield advantages into political success, while Iran has used its geography and targeted attacks on U.S. allies' assets to create bargaining leverage.

French President Macron Calls for 'Shared Governance' of Space at Paris Summit

French President Macron Calls for 'Shared Governance' of Space at Paris Summit

French President Emmanuel Macron advocated for 'shared governance' of outer space during the International Space Summit in Paris. He emphasized that outer space is a major global commons lacking adequate regulations to address current challenges. Macron highlighted the fragility of Europe's space sector and urged European nations to collaborate in developing joint sovereign space capabilities, including a crewed spaceflight program within a decade. He announced approximately €20 billion in investments for Europe's space industry. The call for increased European autonomy in space comes in the wake of Russia's 2022 invasion of Ukraine, which underscored the critical role and potential vulnerabilities associated with services like Elon Musk's Starlink satellite communications. Josef Aschbacher, Director General of the European Space Agency (ESA), stressed the daily utilization of satellites as critical infrastructure for citizens. The United States remains a global leader in the space sector, with NASA's Arte...

BRICS finance chiefs urge reform of global development financial institutions

BRICS finance chiefs urge reform of global development financial institutions

MUMBAI, Sept 11 (Reuters) - Finance ministers and central bank governors of BRICS countries have called for reform of global developmental financial institutions such as the International Monetary Fund and World Bank, seeking a stronger voice for emerging market economies.

Senator Risch Addresses Hudson Institute on 'Making Russia Pay' for Ukraine Reconstruction

Senator Risch Addresses Hudson Institute on 'Making Russia Pay' for Ukraine Reconstruction

Senator Jim Risch, the ranking member of the Senate Foreign Relations Committee, delivered a foreign policy address at the Hudson Institute focusing on the 'Making Russia Pay' initiative. The discussion centered on the bipartisan REPO for Ukrainians Act, which Senator Risch is a leading co-sponsor of. This act aims to authorize the U.S. to seize and repurpose frozen Russian sovereign assets, estimated at over $300 billion, to provide assistance for Ukraine's reconstruction. Ukraine's reconstruction costs are projected to be around $400 billion. The legislation also seeks to prevent the lifting of sanctions on Russia until its forces withdraw from Ukrainian territory and encourages international cooperation on asset seizure and transfer mechanisms.

Carnegie Endowment Report Details U.S. Retreat from Global Democracy Support Under Trump Administration

Carnegie Endowment Report Details U.S. Retreat from Global Democracy Support Under Trump Administration

A report from the Carnegie Endowment for International Peace, authored by Thomas Carothers, a senior fellow in its Democracy, Conflict, and Governance Program, outlines a significant shift in U.S. foreign policy under the Trump administration. The report, titled 'America Walks Away from Global Democracy,' details eight major reductions or reversals in U.S. pro-democracy diplomacy and aid. These include the removal of democracy support from the overall narrative of U.S. foreign policy, discounting shared democratic values in alliances, and a reluctance to criticize or pressure democratic backsliders. Furthermore, the administration has shown diminished support for democratic governments facing external or domestic anti-democratic pressures, and has not actively supported democratic breakthroughs in other nations. The report also highlights the shrinking U.S. institutional capacity for democracy promotion, a drastic reduction in U.S. democracy aid, and a lack of backing for international and regional organiz...

Oil set to end week above $100 for first time since mid-May as US diesel hits record high

Oil set to end week above $100 for first time since mid-May as US diesel hits record high

By Anushree Mukherjee Sept 11 (Reuters) - Oil prices slipped on Friday but remained on track to end the week above $100 a barrel for the first time since mid-May and U.S. diesel prices hit a record high as attacks along key Middle East shipping routes stoked prolonged supply disruption fears.

U.S. Continues Billions in Military Aid to Ukraine Despite President Trump's Denials

U.S. Continues Billions in Military Aid to Ukraine Despite President Trump's Denials

Despite President Trump's public statements suggesting a reduction in U.S. spending on the Ukraine war, the United States continues to provide billions of dollars in military aid to Ukraine. This ongoing support, totaling approximately $20 billion over President Trump's four-year term, is channeled through several mechanisms. While the use of Presidential Drawdown Authority for direct weapon transfers has ceased, and no new funds have been requested for the Ukraine Security Assistance Initiative (USAI), existing USAI contracts worth about $13 billion are still being fulfilled, procuring weapons like Patriot missiles and artillery for Ukraine through 2028. Additionally, Congress approved $800 million in USAI funding in the 2026 and 2027 National Defense Authorization Acts (NDAAs). The State Department also continues to send military aid, including drones and armored vehicles, often categorized as non-military but used by combat units. Furthermore, the State Department approved $3 billion in new arms sales t...

Brent crude oil rises above $100 a barrel as Middle East conflict intensifies

Brent crude oil rises above $100 a barrel as Middle East conflict intensifies

By Anushree Mukherjee and Robert Harvey Sept 9 (Reuters) - Brent crude futures breached $100 a barrel on Wednesday for the first time since July 24 as escalating attacks in the Middle East, including on tankers, stifled hopes of a normalisation of oil shipping in the region.

China's Central Bank Adds 650,000 Ounces of Gold in August, Marking Largest Monthly Purchase Since 2023

China's Central Bank Adds 650,000 Ounces of Gold in August, Marking Largest Monthly Purchase Since 2023

China's Central Bank Adds 650,000 Ounces of Gold in August, Marking Largest Monthly Purchase Since 2023

Congresswoman Anna Paulina Luna Advocates for Open Dialogue with Russia Amidst Re-election Campaign

Congresswoman Anna Paulina Luna Advocates for Open Dialogue with Russia Amidst Re-election Campaign

Republican Congresswoman Anna Paulina Luna, representing Florida's 13th district, has publicly stated that open dialogue with Russia is crucial for achieving peace. Her remarks follow a reported phone conversation between Russian President Vladimir Putin and President Trump on September 8, 2026, where they allegedly discussed ending the Ukraine war and restoring U.S.-Russia relations. Luna, who has been in office since 2021 and is a strong supporter of President Trump, emphasized the importance of such discussions. She is currently engaged in a competitive re-election campaign against Democratic nominee retired Army Brig. Gen. Leela Gray. Political analysts consider the race for Florida's 13th congressional district to be an interesting contest, despite Republicans generally being favored.

The Latest: US destroys 5 Iranian crude oil tankers following attacks on US warship

The Latest: US destroys 5 Iranian crude oil tankers following attacks on US warship

U.S. Central Command says the military has destroyed five Iranian crude oil tankers following attacks on a U.S. warship by Iran’s Revolutionary Guard