Panama Canal warns of deeper transit cuts due to El Nino drought

21 min agoOil prices climbed on Tuesday as Iran threatened retaliation against U.S. attacks, raising concerns about prolonged disruption to shipments through the Strait of Hormuz. Brent crude futures rose to $97.34 a barrel and U.S. West Texas Intermediate to $92.63, with Goldman Sachs raising its price forecasts for late 2026 and 2027.

36 min agoMoscow's three-day ceasefire, which President Vladimir Putin had ordered, ended late Monday with fresh strikes against the capital. The pause had aligned with diplomatic visits to both countries by Trump administration envoys Steve Witkoff and Jared Kushner, who were seeking pathways to peace.

1 h agoRuslan Kravchenko, Ukraine's prosecutor general, submitted his resignation Monday, citing political reasons and saying the position should not be used as an instrument of political confrontation. Anti-graft agencies NABU and SO uncovered a criminal organisation dealing with fraudulent call centres allegedly arranged by an official within the Prosecutor General's Office, though Kravchenko denied involvement.

1 h agoThe 95-year-old former Formula One chief was held at an airfield in Cascais after authorities found a shotgun in his luggage during a routine inspection following his arrival from Switzerland. Ecclestone said he was carrying the weapon to practice clay pigeon shooting but lacked the required documentation to transport it into Portugal.

2 h agoThe Panama Canal has reduced maximum daily ship transits from 36 to 32 by mid-September as drought from El Nino lowers reservoir levels. The new administrator said further cuts to around 29 slots per day may be needed in February or March if the drought persists.

2 h agoUS envoy Steve Witkoff said weekend discussions with Ukraine and Russia showed progress and raised the prospect of reviving three-way peace talks. Ukrainian authorities sounded air-raid sirens in Kyiv on Tuesday morning after a three-day pause in Russian attacks that coincided with visits by US envoys to Moscow and Kyiv. Ukrainian MP Lisa Yasko said Ukraine does not trust the talks.

3 h agoIndonesia's main airport and four others reopened early Tuesday after days of closure caused by ash from Mount Anak Krakatau, which erupted on Saturday about 150 kilometres from Jakarta. The eruption disrupted nearly 3,000 flights and left more than 340,000 passengers stranded over the weekend, though two of the original eight closed airports remained shut.

3 h agoInvestigators with the National Transportation Safety Board recovered both the flight data and cockpit voice recorders from an Amazon Prime Air aircraft that crashed while landing in Miami on Sunday. The incident claimed five lives on the ground when the Boeing 767-33A, a 32-year-old jet operated by Miami-based 21 Air LLC, left the runway and struck two vehicles.

4 h agoThe chief of the UN nuclear watchdog said a nearly complete reactor built secretly during Bashar al-Assad's rule would have been able to produce fissile material for possible use in nuclear weapons. The reactor was destroyed by Israeli jets in 2007. Inspectors from the IAEA visited two sites last month and discovered approximately 73 metric tons of natural uranium metal.

5 h agoUnion officials say female staff members were told to leave the premises when a Hindu religious group visited the monument over the weekend. The closure on Monday resulted from worker protests against the incident, which Paris authorities are now examining.