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LONDON, May 13 (Reuters) - Refinery attacks tied to the wars in Iran  and Ukraine  have knocked out nearly 9% of global oil refining capacity in recent months, deepening ​a fuel supply crunch and likely delaying recovery by months after fighting ends. The Iran war has not only slashed energy supply by disrupting tanker ‌traffic out of the Gulf, but marks the biggest hit to refining since the COVID-19 pandemic in 2020, with damage to facilities and crude shortages forcing cuts in processing. "The current tightness will continue to underpin the refined product market," Saxo Bank analyst Ole Hansen told Reuters. "Not least considering the damage done to refineries." Crude prices have surged, with benchmark Brent hitting $126 a barrel in April, a four-year high. Some prices have risen even faster, including jet ​fuel, which hit a record high in March. Tightened supply has forced refiners, traders and retailers to tap crude and fuel inventories to meet demand...

Vladimir Putin has used his annual Victory Day speech in Moscow's Red Square to justify his war in Ukraine and denounce Nato. Speaking in front of hundreds of military personnel and flanked by a few world leaders, the Russian president said he was fighting a "just" war and called Ukraine an "aggressive force" that is being "armed and supported by the whole bloc of Nato". His remarks come amid muted celebrations across parts of Russia to mark the nation's biggest national holiday, which commemorates the Soviet Union's victory over Nazi Germany. Ahead of the celebrations, Russia and Ukraine agreed to observe a three-day ceasefire, which was announced by US President Donald Trump on Friday. For the first time in nearly two decades, no military hardware featured in Moscow's Victory Day parade. But under tightened security, military personnel marched in droves across Red Square. Addressing the crowd, Putin started his speech by comme...

May 7 (Reuters) - Saudi Arabia and Kuwait ​have lifted ‌restrictions on the U.S. military’s ​use ​of their bases and ⁠airspace that ​were imposed ​after the launch of a U.S. ​operation to ​reopen the Strait of ‌Hormuz, ⁠the Wall Street Journal reported on ​Thursday, ​citing ⁠U.S. and Saudi ​officials. Reuters could ​not ⁠immediately verify the report.

Argentina winger ‌Gianluca Prestianni faces the prospect of missing his ⁠country’s opening ⁠World Cup matches after FIFA extended his six-game suspension for homophobic conduct to ⁠have a worldwide effect. “The FIFA Disciplinary Committee has decided to extend the six-match ban imposed by UEFA ‌on SL Benfica player Gianluca Prestianni to have worldwide effect,” a FIFA spokesperson said on Wednesday. "The sanction has been extended in accordance with Article 70 of the FIFA Disciplinary Code.” The Benfica player was handed the ban by UEFA following accusations he directed a slur ⁠at Real Madrid’s Vinicius Jr during February’s Champions League playoff clash, which Real won 1-0. The worldwide extension, which was requested by UEFA, means Prestianni would miss Argentina’s first ⁠two World Cup fixtures if he ⁠is selected. The ban covers UEFA club competition games or competitive international matches, but not friendlies or domestic league games. UEFA originally imposed a ⁠si...

New artificial intelligence (AI) tools and capabilities from Google, Microsoft and xAI will now be tested by the US Department of Commerce before they are released to the public. The tech firms have agreed to voluntarily submit their models for testing through Commerce's Center for AI Standards and Innovation (CAISI). The new pacts are an expansion on agreements by AI companies like OpenAI and Anthropic that were reached during the Biden Administration, and will see AI models from all of the companies evaluated for their capabilities and security. "These expanded industry collaborations help us scale our work in the public interest at a critical moment," CAISI's director Chris Fall said. Overall, the evaluations of the AI tools will cover "testing, collaborative research and best practice development related to commercial AI systems." Google's best known AI tool, through its DeepMind subsidiary, is Gemini, a chatbot that is widely available o...

Cuban Foreign Minister Bruno Rodriguez has condemned a new wave of US sanctions on the country as "illegal and abusive". An executive order, signed on Friday by US President Donald Trump, targets officials in the energy, defence, financial or security sectors of Cuba's economy - as well as those he alleges to have committed "human rights abuses" or corruption. It comes as protesters   marking International Workers Day   marched outside the US Embassy in Havana, denouncing a US blockade of oil to Cuba that has caused widespread blackouts and fuel shortages. Trump continues to tighten US foreign policy towards   the island nation and has indicated he wants to change its communist leadership. Late on Friday, Trump told an audience in Florida that the US would be "taking over" the Caribbean island, which lies 145km (90 miles) from the US state of Florida, "almost immediately". "On the way back from Iran, we'll have one of our...

The US has warned shipping companies they could face sanctions if they pay Iran for safe passage through the Strait of Hormuz. An alert on Friday by the US Office of Foreign Assets Control (OFAC) warned  US persons and companies were generally banned from paying Iranian government entities, and non-US persons may risk exposure to sanctions if they pay. "Maritime industry participants involved with vessels calling at Iranian ports face significant sanctions risk under multiple sanctions authorities targeting Iran's shipping sector and ports", OFAC said. Iran has severely limited traffic through the strait since the war began in February. The US has also enforced a naval blockade on Iranian ports. Iran has called the US interception of ships entering and leaving Iranian ports under the blockade "piracy". Tehran says it has collected tolls from ships in order to navigate freely through the strait, with Hamidreza Haji Bababei, deputy speaker of Iran'...

The report also mentioned that US President Donald Trump is expected to hold a situation room meeting on Iran with his top national security and foreign policy team. Iran , through Pakistani mediators, gave the US a new proposal on reopening the Strait of Hormuz and ending the war, with nuclear negotiations postponed for a later stage,  Axios  reported on Sunday, citing a US official and two sources with knowledge of the matter. The report also mentioned that US President Donald Trump is expected to hold a situation room meeting on Iran with his top national security and foreign policy team, during which he would review possible actions to take going forward. The Iranian demand would require the US to lift the blockade  of Iranian assets crossing the Strait, which is the only leverage that it can use against the regime when negotiating for a nuclear deal. Trump  already signaled on Sunday that he plans to keep the blockade active until a ...

Donald Trump cancelled a planned trip by US officials to Pakistan for talks on the Iran war on Saturday, shortly after Tehran's delegation had left Islamabad. The US president said special envoy Steve Witkoff and son-in-law Jared Kushner would be wasting "too much time", adding that if Iran wanted to talk "all they have to do is call". Earlier, Iranian Foreign Minister Abbas Aragchi held talks with mediator Pakistan, saying afterwards he had shared Iran's position on ending the war but was yet to see whether the US was "truly serious about diplomacy". Diplomatic efforts have stalled despite Trump's extension of a ceasefire that had been due to expire on 22 April to allow talks to continue. Both sides have been locked in a standoff over the Strait of Hormuz, with Iran restricting passage through the key shipping route in the wake of the US and Israel commencing strikes in February, as well as over Tehran's nuclear ambitions. The ...

King Charles and Queen Camilla's state visit to the US will go ahead "as planned", Buckingham Palace has said, after a shooting incident in Washington DC raised security concerns. A statement on Sunday said the decision had been made "after discussions on both sides of the Atlantic through the day". It is understood there will be minor adjustments to some of the engagements because of security concerns. They were raised after a gunman attempted to storm the White House Correspondents' Dinner at a Washington hotel on Saturday night. The acting US attorney general says the suspect was likely targeting Donald Trump, who was there. The palace said the King was "greatly relieved" to hear the US president, Melania Trump and other guests had been unharmed. It's understood the King and Queen privately reached out to the Trumps to express their sympathies for those caught up in the attack. The US couple and other senior administration figure...

The United States is taking stock of a shooting at the White House correspondents’ dinner in Washington, DC, where President Donald Trump was rushed from the scene.   A gunman charged a security checkpoint outside the ballroom for the annual media gala on Saturday night, before being taken down by US Secret Service agents as shots were fired. CBS News reported the alleged attacker told authorities he was targeting officials in the Trump administration. Here’s how leaders in the US and around the world are responding to the news: United States: Figures across the political aisle condemned the attack at the event, which was also attended by First Lady Melania Trump, Vice President JD Vance and many other senior government officials, along with hundreds of journalists and celebrities. House Speaker Mike Johnson, who attended the event with his wife Kelly, said both were “praying for our country tonight”. House Democratic leader Hakeem Jeffries of New York said:...