A Brazilian national has been charged with transmitting a false image, contrary to the Electronic Communications Act.
Under the guidance of the Director of Public Prosecutions, charges were approved against Victor Bahia.
It is understood that the charges are in connection with the image of a rattlesnake that was reportedly spotted in Southampton two months ago.
Appearing in Magistrates’ Court this morning, Mr. Bahia denied sharing false information. Another man, an Azorean national, Alvaro Cro, was charged with making a declaration to police on July 30th that was false. He, too, pleaded not guilty.
When the charges were read, both men stood up together … Mr. Bahia in the custody dock, and Mr. Cro in the public gallery.
It is understood both men are guest workers, and a translator was needed to communicate the charges to the defendants.
Earlier today, a statement on behalf of the Director of Public Prosecutions read: “The criminal proceedings against Victor Bahia concern the role alleged to have been played by him in the distribution of an image which ultimately came to be the subject of great national concern.”
The DPP acknowledged the “thorough investigation” carried out by the Bermuda Police Service towards identifying the appropriate person to be charged, adding: “The matter is now before the court, and all parties await judicial resolution of the charges.”
Today’s statement continued: “Members of the public are urged to be responsible when sharing information with each other, and the Department of Public Prosecutions … stands ready to prosecute allegations of mischievous misuse of electronic communications where it is in the public interest to do so.”
The case was adjourned by Magistrate Tyrone Chin until September 21.
BermudAir, the leading premium leisure carrier to Bermuda and the Caribbean, today announced the launch of the New York area’s first-ever nonstop service to South Caicos (XSC), with twice-weekly flights from Newark Liberty International Airport (EWR) beginning this winter. The three-and-a-half-hour route will create direct access from the New York metro area to one of the Caribbean’s most exclusive island destinations, home to Salterra, A Luxury Collection Resort & Spa.
South Caicos offers travelers a quieter, more intimate expression of the Turks and Caicos Islands than better-known Providenciales. A small island community shaped by generations of salt production and fishing, South Caicos remains defined by historic salinas, wild donkeys, flamingos that frequent its salt ponds, expansive bonefishing flats, coral reefs and uninhabited cays. From January through early April, the waters surrounding South Caicos also lie along the seasonal migration of humpback whales, offering opportunities to encounter mothers and calves as they pass through the region. The new nonstop gives travelers direct access to the island’s living history, natural landscapes and deeply rooted connection to the sea and the opportunity to experience South Caicos without connecting through Providenciales. Flights are subject to Government approval.
The seasonal service begins December 20, 2026, and will operate on Sundays and Thursdays through April 25, 2027. The twice-weekly BermudAir service will increase scheduled international flight frequency to South Caicos from two to four flights per week during the winter season. Fares start at $347 one way ($773 roundtrip) and go on sale today. The Thursday-Sunday schedule makes three- and four-night escapes as well as weeklong stays convenient from the New York area. Salterra will offer dedicated stay packages timed to the new service.
The new service grew out of an airlift initiative led by Salterra to establish a direct connection between the New York market and South Caicos. Salterra worked with BermudAir to develop the opportunity and support the launch of the route, with the broader goal of creating a new gateway for South Caicos and expanding tourism and economic opportunity across the island.
“Adding South Caicos to our new Turks service gives travelers something genuinely different within the Turks and Caicos Islands, and we saw a compelling opportunity when Salterra approached us about connecting the island directly with the New York market,” said Adam Scott, Founder and CEO of BermudAir. “Michael and his team shared a clear vision for what improved air access could mean for the entire destination. This route is about more than adding another point to our Caribbean network. It creates easier access to an exceptional island while generating meaningful economic activity and supporting South Caicos’ next chapter of sustainable tourism growth.”
Set across 85 beachfront acres with 3,000 feet of private white-sand beach, Salterra opened in 2025 as the first Luxury Collection resort in the Turks and Caicos Islands. Its design draws directly from South Caicos, using coral stone, warm natural materials and a palette inspired by the salt flats to create a contemporary interpretation of the island rather than a conventional Caribbean resort. Upon landing at South Caicos International Airport (XSC), guests are approximately 10 minutes from the resort.
“When we decided to build Salterra, we knew we couldn’t think only about the resort — we had to think about the destination,” said Michael Tibbetts, Founder and CEO of Salterra. “Air access was one of the biggest opportunities, which is why we worked with BermudAir to create a direct connection between South Caicos and New York. We are proud to have helped bring this route to life, but its significance extends far beyond Salterra. It creates a new gateway to South Caicos and new opportunities for the businesses, people and community that make the island so extraordinary.”
The South Caicos launch builds on BermudAir’s broader expansion in the Turks and Caicos Islands, including previously announced service to Providenciales from six U.S. gateways. Flights to South Caicos will be operated on Embraer E190 aircraft, offering passengers the airline’s signature warm service and authentic island hospitality.
While flights go on sale today, the airline’s BermudAir Holidays vacation-packaging division will offer curated travel to South Caicos from next month, featuring flights, hotels and authentic island experiences, with bundled discounts and value-added perks, making it even easier to explore the destination.
Previously BermudAir announced seven new routes to Providenciales in Turks and Caicos, from Newark (EWR), Boston (BOS), Baltimore-Washington (BWI), Raleigh-Durham (RDU), Fort Lauderdale (FLL), St Petersburg/Tampa (PIE) and Toronto (YYZ) which will all start in December except for Fort Lauderdale which begins October 26.
For more information or to book flights, visit www.flybermudair.com. To book Salterra’s dedicated air-and-stay packages or a resort stay, visit www.salterra.com.
Statement issued on behalf of the Director of Public Prosecutions:
Under the guidance of the Director of Public Prosecutions, charges were approved against Victor Bahia, a Brazilian national, for transmitting a false message contrary to section 66 of the Electronic Communications Act.
The criminal proceedings against Victor Bahia concern the role alleged to have been played by him in the distribution of an image which ultimately came to be the subject of great national concern.
The Department of Public Prosecutions acknowledges the thorough investigation carried out by the Bermuda Police Service towards identifying the appropriate person to be charged.
The matter is now before the court, and all parties await judicial resolution of the charges.
Members of the public are urged to be responsible when sharing information with each other, and the Department of Public Prosecutions remains committed to its mandate to provide Bermuda with an independent, efficient and effective prosecution service, and stands ready to prosecute allegations of mischievous misuse of electronic communications where it is in the public interest to do so.
Editor’s note: A second person also appeared in court this morning in connection with this case. Details to follow.
The 6.2-magnitude earthquake and aftershocks destroyed much of Amatrice’s historic centre and many outlying areas, leaving several thousand people homeless
International News via Reuters:
In the early hours of August 24, 2016, Giorgio Cortellesi stumbled through the dust and darkness of Amatrice, fearing his children were dead, buried beneath tons of rubble.
His two young sons had been staying overnight with their grandparents when an earthquake levelled much of the central Italian hilltown.
Rushing over from a nearby hamlet, Cortellesi found the streets in ruins, muffled cries rising from collapsed homes. Then he caught the sound of one of his sons calling for help.
“I didn’t think I would find them alive, but when I heard his voice, it was as if I started breathing again,” said Cortellesi.
He promised himself that if his boys survived he would help rebuild Amatrice, which bore the brunt of the calamity, with 237 people dying in the town out of a total death toll of 303.
Elected town mayor in 2021, Cortellesi is trying to make good on his pledge, but it isn’t easy.
LIFE ON HOLD
The 6.2-magnitude earthquake and aftershocks destroyed much of Amatrice’s historic centre and many outlying areas, leaving several thousand people homeless.
The state has promised to pay for the vast bulk of the reconstruction and has so far approved private and public sector projects worth €22.7 billion ($26.3 billion) across the disaster zone. Around €10 billion has been paid out to date.
In Amatrice, 38% of the damaged properties have been restored, with the pace of building picking up markedly over the past 12 months. Cranes dot the town and clusters of pristine new homes have sprouted amidst the desolation.
Even so, only a small proportion of the structures flattened in 2016 have been rebuilt. Much of the historic centre remains behind barriers, where two lone towers that survived the earthquake gaze over the blasted wasteland.
Around 1,000 people, roughly 60% of the population, still live in small, prefabricated shelters, while each year a few families drift away, seeking a brighter future elsewhere.
“After 10 years many people have lost faith,” said Cortellesi. “We need to keep on encouraging them, but we can’t do more than we are already doing.”
LONG ROAD BACK
As with other major Italian earthquakes, such as L’Aquila in 2009, Amatrice’s reconstruction got bogged down in bureaucracy, legal disputes and shifting priorities.
The COVID-19 pandemic disrupted rebuilding efforts, while Italy’s generous “Superbonus” renovation scheme, intended to revive the virus-hit economy, pushed up the cost of building materials and siphoned off labour to more lucrative projects across Italy.
“The Superbonus led to an almost total stop that lasted two years. It was a disaster,” said Cortellesi.
Rebuilding densely packed medieval neighbourhoods was complicated by multiple owners, inheritance disputes and unresolved property claims that made every planning application a legal minefield.
Officials say fears of mafia interference in the adjudication of multi-million-euro contracts added further layers of scrutiny that snarled some projects for years.
Yet for some survivors, the slow pace of reconstruction has been only one part of a much deeper struggle to remain.
Daniele Bonanni lost his mother, sister and nephew in the earthquake, leaving just him, his niece and her baby daughter alive. A sought-after chef, Bonanni could easily have moved on. Instead he stayed put.
“It seemed wrong to abandon the place where I grew up and where my family built a life,” he said. “Perhaps it was a mistake. Even today I cannot say for certain.”
For years, descendants of Amatrice families returned each August to homes inherited from parents and grandparents, but many of those properties were lost.
“People once came for the summer, now they come for lunch,” said Bonanni, who runs a chic restaurant in a food village established for chefs who had lost their businesses.
“If you create a generational break of 10 or 15 years, the bond dies,” he said.
FINANCIAL TRAP
Few embody the frustrations of reconstruction more than brother and sister Alfredo and Elisabetta Perilli.
They lost many relatives and their respective homes in the centre of Amatrice. Alfredo still has to pay the mortgage on his old house, trapping him financially.
“The building no longer exists, but the bank wants its money every month,” he said.
The Perillis also lost their family-run restaurant and hotel, with the land it once occupied now serving as a temporary access route for the reconstruction of a hospital. Building work was scheduled to finish in 2022.
Until they get their site back, they cannot submit reconstruction plans for approval. “If they go on much longer I won’t have the strength to start rebuilding,” said Elisabetta.
Such delays have left Cortellesi wondering whether some of the choices made after the earthquake were the right ones, including the core decision to recreate much of the town on its original site and largely in its former image.
“What we will have is a facsimile,” he said, acknowledging that much of the medieval masonry had gone.
“Personally, I would have redesigned the town in a modern way. Once everything had been wiped away, I think something new could have been created, but it is too late to turn back.”
The global AI boom that has reshaped the world economy was sparked in late 2022 by ChatGPT’s breakthrough large language model, a watershed moment that drove mass adoption
International News via Reuters:
The CEO of Chinese humanoid robot unicorn Unitree said on Thursday the industry is edging towards a “ChatGPT moment” for robot brains, after the company’s blockbuster Shanghai listing crystallised China’s ambitions to lead the next frontier of AI-powered machines.
Shares in China’s best-known humanoid robot maker fell 11% on Thursday, a day after soaring nearly sixfold in their market debut, highlighting intense investor enthusiasm for a fledgling sector that enjoys strong backing from Beijing.
“We are marching towards a ‘ChatGPT moment’ in embodied intelligence,” said Wang Xingxing, the Hangzhou-based startup’s founder and CEO, at a major robot conference in Beijing.
The global AI boom that has reshaped the world economy was sparked in late 2022 by ChatGPT’s breakthrough large language model, a watershed moment that drove mass adoption. No comparable inflection point has yet emerged for world models, the physical AI simulation systems designed to help robots understand and navigate real-world environments.
Wang said the industry is nearing a breakthrough where robots can be placed in unfamiliar environments and complete most tasks through simple voice or text instructions.
“We hope that in the future, we can see a robot be introduced into an unfamiliar household and it can achieve approximately 80% of tasks successfully through voice or text commands,” he said.
“It is an important tipping point for the robot industry to usher in explosive growth.”
MAJOR LEAP IN ROBOT SOFTWARE STILL A FEW YEARS AWAY
At the same time, Wang cautioned that a major leap in robot software could arrive within two to three years in an optimistic scenario, or within five to 10 years at the latest.
“Relative to the mood around World Robot Conference and Unitree’s spectacular IPO, Wang Xingxing was notably sober about current capabilities,” said Georg Stieler, head of automation at robotics consultancy Stieler.
Unitree is the world’s largest producer of robot dogs and the second-biggest maker of humanoid robots by shipments, according to industry data.
It rose to fame with impressively choreographed performances of robots dancing and performing kung-fu, showcased on Chinese television, and is increasingly deploying its machines in real-world industrial settings. Its IPO prospectus shows most customers are universities and research institutions.
Wang He, founder of Chinese robotic startup Galbot, expects the sector’s “ChatGPT moment” to arrive by 2028, defining it as the point when robots can perform about 70% to 80% of everyday tasks without specialised training.
“With continued accumulation of data and further technological breakthroughs, we expect to reach the ‘ChatGPT moment’ for embodied intelligence by 2028,” he said.
UNITREE FOCUSED ON WORLD MODELS
Unitree’s Wang said the company’s biggest current investment in terms of capital and manpower is in world models and that it is “lagging behind” in the real-world application of physical AI models.
He also said humanoids are not yet capable enough for mass deployment, pointing to limitations in the AI models that power robots’ decision-making and interactions as the industry’s biggest bottleneck.
Even so, Wang expects the sector to enter a decade of rapid autonomous evolution of humanoid robots, as the AI boom accelerates and AI language models learn to improve themselves.
CHINA HAS MONOPOLY IN GLOBAL HUMANOID MARKET
China delivered over 40,000 humanoids in the first half of this year alone, and accounts for 97% of global shipments of humanoid robots, a Chinese humanoid industry body said in a report Thursday.
Beijing is betting that robots can eventually replace human labour in repetitive, low-value and dangerous settings as it faces a shrinking workforce due to demographic decline.
While humanoids are gradually being introduced to factory floors and logistics warehouses, they remain less efficient than human workers in most applications.
Humanoid robots have also become a new front in U.S.-China technology rivalry.
Last month the U.S. Federal Communications Commission banned future imports of foreign-made humanoid and quadruped robots citing national security concerns, in a major blow to Chinese producers.
Several companies at the World Robot Conference in Beijing told Reuters they were looking to expand overseas.
Reporting by Ju-min Park, Eduardo Baptista and Laurie Chen; Editing by Jacqueline Wong and Shri Navaratnam
Otunnu spoke in an informal dialogue with U.N. member states and civil society groups aimed at assessing the candidates to replace Guterres, who steps down at the end of the year after two five-year terms
International News via Reuters:
Ugandan diplomat Olara Otunnu, one of eight candidates seeking to succeed Antonio Guterres as U.N. secretary-general next year, on Wednesday called for continued reform of the world body and the restoration of its moral authority.
Otunnu, a former U.N. under-secretary-general who served as a special representative for children and armed conflict, invoked St. Francis of Assisi as he spoke of the need for the world body to help bridge growing global divisions.
“Where there is hatred, let me sow love; where there is injury, pardon; where there is doubt, faith; where there is despair, hope; where there is darkness, light; where there is sadness, joy,” he said, quoting the Prayer of St. Francis.
Otunnu spoke in an informal dialogue with U.N. member states and civil society groups aimed at assessing the candidates to replace Guterres, who steps down at the end of the year after two five-year terms.
At 75, Otunnu is the oldest of the candidates. Ecuadorean diplomat Ivonne Baki, who joined the contest on Tuesday, is also 75, but was born several months later.
Guterres’ successor faces the task of revitalizing an organization in crisis and declining stature amid pressure to reform what critics say is a bloated, costly bureaucracy and reduce duplication across its agencies.
Like other candidates, Otunnu stressed the need to continue the process of reform.
“Reform is no longer an optional choice. It is an imperative. Without it, the institution is at grave risk. We cannot continue to do business as usual,” he said.
Denmark, the current chair of the 15-member U.N. Security Council, plans to hold a second informal poll among council members on Friday as part of the process of selecting the next U.N. head.
A first so-called straw poll took place at the end of July and showed former Costa Rican Vice President Rebeca Grynspan as a narrow early frontrunner, followed by former Guyanese Foreign Minister Carolyn Rodrigues-Birkett and Argentina’s Rafael Grossi, head of the U.N. nuclear watchdog.
Precedent suggests multiple rounds of polling could continue in the coming weeks and conclude in late September or early October. Other candidates can still join the contest and the process could take longer if no consensus candidate emerges.
Avoiding a veto by any of the five permanent members of the Security Council – China, France, Russia, the United Kingdom and the United States – is vital, and the countries have widely differing worldviews.
The other candidates are former Chilean President Michelle Bachelet, former Ecuadorean Foreign Minister Maria Fernanda Espinosa and former Senegalese President Macky Sall.
Reporting by David Brunnstrom; Editing by Don Durfee and Sonali Paul
Katalyst’s LINK craft was launched in early July to approach the observatory, also known as Swift, some 216 miles (347 km) in space, grapple onto it and then tug it to a higher orbit of roughly 373 miles (600 km), extending its life by years
International News via Reuters:
A mission to rescue NASA’s aging Swift observatory in space was canceled on Wednesday after the spacecraft that was launched to tug the satellite to a higher orbit suffered irredeemable technical issues in space, the rescue craft’s owner, Katalyst Space, said.
Katalyst’s LINK craft was launched in early July to approach the observatory, also known as Swift, some 216 miles (347 km) in space, grapple onto it and then tug it to a higher orbit of roughly 373 miles (600 km), extending its life by years.
But the LINK craft began spinning uncontrollably soon after reaching space. Katalyst engineers spent weeks trying to regain control of the craft, uploading new positioning control software last week that slowed but did not stop its errant spinning.
“Following continued monitoring and assessment of the LINK spacecraft, Katalyst Space and NASA together have concluded that due to ongoing attitude control issues, the mission will not include the capture and boost of NASA’s Neil Gehrels Swift Observatory,” Katalyst and NASA said in a joint statement on Wednesday.
The mission failure means NASA’s prized $500 million Neil Gehrels Swift Observatory, which has been studying gamma-ray bursts and other cosmic phenomena since 2004, will likely fall into Earth’s atmosphere naturally and burn up later this year.
The goal to boost the observatory’s orbit and extend its life by years, the first U.S. mission of its kind, was an ambitious endeavor for Arizona-based startup Katalyst, which said it built and tested the LINK rescue vehicle on an unprecedented nine-month production schedule under a $30 million NASA contract.
“We took on this high-risk, high-reward challenge and are proud of the milestones we reached along the way,” Katalyst CEO Ghonhee Lee said in a statement.
He added that the company, founded in 2019 to build fleets of autonomous robotic spacecraft, has learned a “tremendous amount” during the mission and plans to implement those lessons on future flights.
Reporting by Joey Roulette in Washington; Editing by Chris Reese and Matthew Lewis
Globally recruiters are cutting costs to bolster profits as geopolitical tensions and AI-driven efficiencies weigh on hiring, with firms preferring shorter-term contracts as they navigate uncertainty over tariffs and the Iran war
International News via Reuters:
British recruiter Hays reported annual operating profit above market expectations on Thursday, as cost cuts and resilient temporary hiring helped offset weak permanent recruitment in an uncertain economy.
Here are some details from its annual results:
• Hays, which recruits across sectors including IT, accountancy and engineering, posted operating profit of £48.6 million ($66.11 million) for the year ended June 30, above the company-compiled consensus of £45.3 million and up 7% from the previous year.
• It said trading in July and August was in line with its expectations, with no significant change to activity levels from the previous three months.
• Globally recruiters are cutting costs to bolster profits as geopolitical tensions and AI-driven efficiencies weigh on hiring, with firms preferring shorter-term contracts as they navigate uncertainty over tariffs and the Iran war.
• To offset the downturn, Hays has been reshaping its portfolio under CEO Mark Dearnley, exiting several countries and narrowing its focus to 16 core markets.
• It forecast cost savings in fiscal 2027 of about £50 million, ahead of its 2029 target.
• Peer Michael Page earlier this month said its half-year pretax profit jumped, helped by growth in Asia Pacific and Americas.
($1 = 0.7352 pounds)
Reporting by Prerna Bedi and Nithyashree R B in Bengaluru; Editing by Subhranshu Sahu
The surprise move comes after the couple spent recent years repeatedly criticising the royal family and lambasting the British press
International News via Reuters:
Prince Harry and his wife Meghan plan to move back to Britain this month, six years after they stepped down from their royal duties and relocated to the U.S., a source close to the couple said.
The surprise move comes after the couple spent recent years repeatedly criticising the royal family and lambasting the British press, saying the tabloids had made their lives hell and they wanted to carve out independent roles for themselves.
The couple, known as the Duke and Duchess of Sussex, were moving with Prince Archie, 7, and Princess Lilibet, 5, from California to Britain for an extended period and the children would begin school there in September, the person close to them said, confirming details that were reported in the media.
King Charles, who welcomed having his youngest son and his family closer, found out about the move on Sunday, British media reports said. Harry and Meghan will not live in a royal residence and will remain non-working royals as agreed with the late Queen Elizabeth when they left in March 2020.
Harry’s spokesperson and Buckingham Palace declined to comment.
COUPLE COMPLAINED ABOUT PRESS COVERAGE
Harry married Meghan Markle in a ceremony at Windsor Castle in 2018, and it was hoped his union with the former actor would reinvigorate the historic institution for a new generation.
But it was not long before cracks in their relationship with the rest of the royal family began to emerge. Two years later in March 2020, they announced they would step down from official duties and move to the U.S., saying they wanted to move away from the intense press scrutiny they faced in Britain.
They settled in the wealthy seaside enclave of Montecito, near Santa Barbara, California, with media reports putting the 2020 purchase price of their 16-bedroom home at $14.7 million.
In the following years, Harry, now 41, and Meghan, 45, repeatedly criticised the royal family and the monarchy in TV interviews, a Netflix documentary series and, most notably, in Harry’s memoir “Spare”.
During a 2021 interview the couple gave to Oprah Winfrey, Meghan, whose mother is Black, said an unnamed member of the family had asked how dark their son Archie’s skin might be. Heir-to-the-throne Prince William, Harry’s elder brother, responded by denying that Britain’s royals were racist.
Harry had some particularly barbed comments for his father, Charles, and Prince William, leading to a total breakdown in their relationship.
Harry was also angry the British government changed his security arrangements and said the lack of automatic police protection meant he was unable to bring his children to Britain.
STRAINED FAMILY RELATIONS
But relations with the king appeared to be thawing in September, and father and son met briefly for the first time in 20 months. Charles was diagnosed with an unspecified type of cancer in 2024. He announced on television last December that he had responded “exceptionally well” to treatment.
Last month, Harry, Meghan and their children visited Britain, and Charles saw his grandchildren for the first time since 2022.
However, while the king welcomed the chance to see more of the Sussexes, he only became aware of the couple’s plans to return to Britain on Sunday.
While Harry and the king’s relationship might have improved, he is still barely on speaking terms with his brother.
British minister Lucy Powell, talking to the BBC on Thursday, said it was good news, adding that she hoped “the reconciliation with the family continues because I think that’s good for the country … to send out that signal”.
Harry and Meghan embarked on several media ventures from their California home, signing multi-million-dollar deals with Spotify for a podcast series and with Netflix for programming including a lifestyle show hosted by Meghan.
The projects produced mixed results. Harry’s tell-all book was a bestseller, but their podcast deal ended and Meghan’s Netflix show was not renewed for a third season.
In recent months Meghan has published an increasing number of photographs on her Instagram account, showing Harry and their children and their U.S. life, often taken from behind the children to hide their faces.
“I think they didn’t achieve the superstar status they wanted,” said Dominic Patten, executive editor of Hollywood publication Deadline.com.
They did, however, keep the public interested in their story in a town full of big-name celebrities, Patten said.
“He and Meghan have kept that flame aflutter,” Patten said. “If you look at how quickly Hollywood careers can burn out, on that level, by that metric, they’ve been successful.”
Reporting by Kate Holton and Michael Holden in London and Lisa Richwine in Los Angeles; Additional reporting by Dawn Chmielewski; Editing by Alex Richardson
Brent crude futures for October delivery rose $1.20, or 1.3%, to $92.82 a barrel by 0813 GMT, while U.S. West Texas Intermediate crude futures for September added 92 cents to $86.75 a barrel
International News via Reuters:
Oil prices climbed to three-week highs on Thursday, driven by concerns that the impasse in the Iran war will continue to disrupt supply from the key Middle Eastern producing region.
Brent crude futures for October delivery rose $1.20, or 1.3%, to $92.82 a barrel by 0813 GMT, while U.S. West Texas Intermediate crude futures for September added 92 cents to $86.75 a barrel. The more-active October WTI contract was up $1.13, or 1.3%, to $85.52.
Both Brent and WTI benchmarks hit their highest since late July during the session, gaining for a fifth straight session and having settled on Wednesday at their highest since July 24. The September WTI contract expires later on Thursday.
“Tensions in the Middle East remain high, leaving room for further supply disruptions,” said UBS analyst Giovanni Staunovo. “Lower oil exports from the Middle East are once again tightening the oil market.”
The UAE’s decision to suspend all financial and economic transactions with Iran until further notice has refocused the spotlight on fraught ties between the major Gulf Arab oil producer and Iran.
“Oil prices remained elevated as the market is supported by sporadic attacks in the Middle East but lacks fresh momentum without a major escalation,” said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment.
“The market is likely to maintain a gradual upward trend given uncertainty over peace talks and tensions involving the United Arab Emirates, Oman and Iran,” he added.
On Tuesday, U.S. President Donald Trump said no talks were taking place with Iran and that the Strait of Hormuz was open. Iran, however, said the waterway remained shut.
Trump on Wednesday warned of economic consequences against any country that provided “any type of lifeline to Iran”.
Shipping traffic through the strait on Wednesday was unchanged from the day before as discussions to end the conflict remained deadlocked, according to the latest shipping data.
Prior to the war that began with U.S. and Israeli strikes on Iran on February 28, shipments equal to about one-fifth of global consumption moved through the waterway. Current flows are far below pre-war levels.
The war has also impacted the supply of refined fuels and drawn down inventories with less crude available to refiners.
U.S. stockpiles of distillate fuel, including diesel and heating oil, fell last week for a third week, the Energy Information Administration said on Wednesday. However, crude inventories unexpectedly rose by 4.4 million barrels. [EIA/S]
Reporting by Stephanie Kelly in London, Yuka Obayashi in Tokyo and Siyi Liu in Singapore; Editing by Tom Hogue, Christian Schmollinger and Alexander Smith
The dollar index, which measures the dollar against six other currencies, was at 98.723, its lowest level since May 14
International News via Reuters:
The U.S. dollar was pinned near a three-month low on Thursday after the Treasury Department moved to calm a bond market selloff that had pushed long-end yields to their highest since 2007, lifting risk sentiment and undercutting the currency.
The dollar index, which measures the dollar against six other currencies, was at 98.723, its lowest level since May 14. The euro was at $1.1692, perched at the highest level since mid-May.
ING global head of markets Chris Turner said the Treasury’s move to increase buybacks of Treasury securities with maturities between 10 and 30 years should reassure markets that longer-dated bonds are unlikely to face a disorderly selloff.
“It reduces one of those left-field risks out there which is good for risk, good for the investment environment and slightly dollar negative,” Turner said.
Investors have been grappling this week with a sharp selloff in the global bond market on mounting concern about soaring government debt and the spectre of higher oil prices due to the lack of progress in ending the U.S.-Israeli war with Iran.
The 30-year Treasury yield rose to a 19-year high of 5.337% earlier this week. It was last at 5.198% after dropping 9 basis points following the move by the Treasury that effectively shifts more of the government’s borrowing toward short-term bills.
EYES ON YEN
The broad dollar weakness provided some relief to the Japanese yen as the fragile currency pulled away from the closely watched 160 level. It traded at 158.41 per dollar, surrendering part of its advance from the previous session.
The yen has been in the spotlight since a rare coordinated intervention by U.S. and Japanese authorities at the end of July sought to arrest its slide after it weakened to a 40-year trough near 164 per dollar.
Sterling rose to $1.3631, its highest in three months, while the Swiss franc was slightly weaker at 0.7986 per U.S. dollar, after rising by almost 2% in the previous session.
FED MINUTES
Concern about inflation deepened at the Fed’s meeting last month, with several policymakers ready to raise interest rates and many saying a hike in borrowing costs would be needed if inflation did not decline to the U.S. central bank’s 2% target, the minutes of the session showed.
“The minutes of the Fed’s July meeting confirmed that the rate-setting committee had become more hawkish since the June meeting but, with the inflation, labour market and activity data since then all on the soft side, there is little to suggest that interest rate hikes are imminent,” said Ariane Curtis, senior North America economist at Capital Economics.
Reporting by Ankur Banerjee in Singapore; Editing by Kate Mayberry, Stephen Coates and Shri Navaratnam
Motorists urged to avoid area as overturned propane truck forces diversions
Media Release:
Shortly before 5:30 am on Thursday, 20th August 2026, police and other first responders were dispatched to a report of a road traffic collision involving a motorcar and a propane gas truck on Somerset Road, just west of Beacon Hill.
Initial information suggests that the vehicles were travelling in opposite directions when they collided on the bend near the Mangrove Bay Post Office, resulting in the propane gas truck overturning onto its side.
Neither driver, both of whom are male, was reported to be injured.
The Bermuda Fire and Rescue Service has carried out an assessment of the gas truck as a precaution.
The roadway is currently completely blocked and traffic diversions are in effect at Beacon Hill Road and Mangrove Bay Road. Motorists are advised to avoid the area and use alternative routes until the collision scene has been cleared.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
