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Oil and gas unlikely to return to prewar prices for months even if Hormuz reopens

Markets welcome US-Iran peace deal but prices may stay high as buyers race to refill depleted emergency crude stockpilesOil prices hit three-month low and markets rallyBusiness live – latest updatesAfter more than 100 days of the greatest recorded disruption to the world’s energy supplies, the global oil and gas markets have breathed a sigh of relief.Hours after Donald Trump confirmed that a US-Iran peace deal would lead to the reopening of the strait of Hormuz for tankers carrying millions of barrels of oil and gas, the price of Brent crude tumbled to lows of $82 a barrel. Wholesale gas prices fell about 6%. Continue reading...

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BBC To Layoff 2,000 Staff In A Bid To Cut Down 10% Of Budget

With over 20,000 staff, the BBC is expected to cut about a tenth of its costs resulting in 2,000 job losses.

Trump Threatens 100% Tariff On French Wine Over Digital Services Tax Ahead Of G7 Summit

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'Critical Step:' Global Leaders Welcome US-Iran Peace Deal

Secretary-General Antonio Guterres welcomed the peace deal as a "critical step towards the peaceful settlement of the conflict."

Israel's First Reaction On US-Iran Deal Is Not A Good News For Trump's Plan

Katz said Israel won't withdraw from Lebanese territory as the interim deal is pending. He said Tel Aviv plans to stay "indefinitely" in lands it holds in Lebanon, as well as Syria and the Gaza Strip.