Brent futures rose 90 cents, or 1.4%, to $67.20 per barrel at 1:04 p.m. EST (1804 GMT), while U.S. West Texas Intermediate crude rose 99 cents, or 1.6%, to $63.13

International News via Reuters:

Oil prices edged up on Tuesday after the U.S. shot down an Iranian drone approaching a U.S. aircraft carrier and armed boats approached a U.S.-flagged vessel in the Strait of Hormuz, stoking concerns that talks aimed at de-escalating U.S.-Iran tensions could be disrupted.

Brent futures rose 90 cents, or 1.4%, to $67.20 per barrel at 1:04 p.m. EST (1804 GMT), while U.S. West Texas Intermediate crude rose 99 cents, or 1.6%, to $63.13.

On Monday, both crude benchmarks closed at their lowest since January 26 after dropping more than 4% on the day.

The U.S. military shot down an Iranian drone that “aggressively” approached the Abraham Lincoln aircraft carrier in the Arabian Sea, a U.S. official told Reuters on Tuesday.

In the Strait of Hormuz between the Persian Gulf and the Gulf of Oman, a group of Iranian gunboats approached a U.S.-flagged tanker north of Oman, maritime sources and a security consultancy said on Tuesday.

OPEC members Saudi Arabia, Iran, the United Arab Emirates, Kuwait and Iraq export most of their crude via the strait, mainly to Asia.

Oil prices had slumped on Monday after U.S. President Donald Trump said Iran was “seriously talking” with Washington.

Iran was the third-biggest OPEC crude producer in 2025, according to U.S. Energy Information Administration data. 

“Iran’s significance within oil markets extends well beyond its own production profile. The country’s geopolitical weight is rooted in its strategic location, its influence over regional security dynamics, and its capacity to disrupt critical energy infrastructure and transit routes,” said Jorge Leon, senior vice president and head of geopolitical analysis at consultancy Rystad Energy.

Regional power United Arab Emirates urged Iran and the U.S. on Tuesday to use the resumption of nuclear talks this week to resolve a standoff that has led to mutual threats of air strikes.

RUSSIA AND INDIA

Earlier on Tuesday, oil prices had gained support as a trade agreement between the U.S. and India raised hopes that global energy demand could increase, while Russia’s continued attacks on Ukraine boosted worries Moscow’s oil would remain sanctioned for longer.

Trump’s move to slash tariffs on Indian imports lifted sentiment among exporters and policymakers even as details of the agreement remained scant.

Trump announced a trade deal with India on Monday to cut tariffs to 18% from 50% in exchange for New Delhi halting Russian oil purchases and lowering trade barriers. India is one of the world’s biggest economies and oil importers.

While the deal might appear bullish for oil, “the near-term impact will likely be on a further discount on Russian crude barrels that is unlikely to affect exit of shadow cargoes into the world market,” energy advisory firm Ritterbusch and Associates said.

In Ukraine, President Volodymyr Zelenskiy accused Russia on Tuesday of exploiting a U.S.-backed energy truce to stockpile munitions, and using them to attack Ukraine a day before peace talks.

The overnight attack knocked out heating in cities including the capital Kyiv as Ukrainian negotiators headed to Abu Dhabi for a second round of U.S.-brokered trilateral talks set for Wednesday and Thursday.

Any delay to ending the war in Ukraine would likely keep oil prices elevated by leaving sanctions limiting Russia’s oil exports in place following Moscow’s 2022 invasion.

Russia was the world’s third-biggest crude producer behind the U.S. and Saudi Arabia in 2025, according to EIA data.

Reporting by Scott DiSavino in New York, Robert Harvey and Stephanie Kelly in London, Anushree Mukherjee in Bengaluru and Trixie Yap in Singapore; Editing by Susan Fenton, Emelia Sithole-Matarise, Jan Harvey and Nia Williams

Marius Borg Hoiby, 29, son of Crown Princess Mette-Marit and stepson to Crown Prince Haakon, could face multiple years in prison if found guilty of the most serious of the 38 charges against him

International News via Reuters:

The son of Norway’s crown princess pleaded not guilty to rape and domestic violence but admitted to some lesser charges on the first day of his trial on Tuesday, a case that has shaken the already embattled royal family.

Marius Borg Hoiby, 29, son of Crown Princess Mette-Marit and stepson to Crown Prince Haakon, could face multiple years in prison if found guilty of the most serious of the 38 charges against him.

As the trial started, a poll pointed to an erosion in Norwegians’ traditionally strong support for their monarchy. The proceedings come days after Hoiby’s mother apologised for her “poor judgment” in maintaining contacts with the late U.S. sex offender Jeffrey Epstein after he was convicted in 2008.

NO SPECIAL TREATMENT, PROSECUTOR SAYS

On Tuesday, Hoiby pleaded not guilty to four counts of rape and one of domestic violence.

He pleaded guilty to one count of offensive sexual behaviour, driving too fast and driving without a valid license, among other charges.

He also said he was partially guilty – a plea allowed under Norwegian law – of aggravated assault and reckless behaviour.

After a short adjournment, Hoiby – wearing a brown jumper over a white T-shirt, dark green trousers and white trainers – returned to sit behind his lawyers, his body sometimes shaking and his hands clasped tightly together.

Lead prosecutor Sturla Henriksboe said Hoiby would be treated like any other Norwegian. “He will not be handled tougher or milder because he is part of this family,” Henriksboe said in his opening statement.

In response, Hoiby’s lawyer said her client’s treatment had been anything but fair.

“The press coverage – which defendant sees 10,000 press articles written about him? … He has experienced books being written about him and more are coming,” Ellen Holager Andenaes told the court.

“Our client has absolutely not received normal treatment. And he has not received any positive treatment.”

Crown Prince Haakon said in a statement he and his wife were not planning to attend the court proceedings.

About Hoiby, Haakon said: “We love him. He is an important part of our family. He is a Norwegian citizen, so he has the same responsibilities as everyone else, as well as the same rights.”

Haakon expressed sympathy for the alleged victims. “We think about them. We know many are going through a difficult time,” he said.

FAMILY HIT BY TRAVAILS AND SCANDALS

The case is the most serious crisis to hit the Norwegian royal family in peacetime, historian Trond Noren Isaksen said in the run-up to the hearing, though Hoiby does not have a royal title and is outside the line of succession.

Norway’s parliament on Tuesday voted overwhelmingly in favour of maintaining the monarchy, rejecting a proposed change to a republic after a long-planned-for debate.

But an opinion poll conducted a day earlier for daily newspaper Verdens Gang showed a fall in the number of Norwegians favouring keeping the monarchy – to 61% from 72% last year – and a 10-percentage-point rise to 27% in support for a republic.

The monarch has faced a series of other travails and scandals in recent years.

King Harald, 88, Europe’s oldest living monarch, cut back activity in 2024 after being hospitalised to treat an infection and later receiving a pacemaker.

Mette-Marit needs a lung transplant after being diagnosed with pulmonary fibrosis in 2018.

King Harald’s daughter, Martha Louise, stepped down from official royal duties in 2022 to allow her to pursue her own business ventures, and said both she and her husband, an American self-styled shaman, would refrain from using her title as princess in a commercial setting.

They were both criticised last year for starring in a Netflix documentary chronicling their daily lives.

MULTIPLE CHARGES

Among the charges against Hoiby are one count of rape with sexual intercourse and three counts of rape without intercourse, some of which he filmed on his telephone, the prosecution said.

In January, it added new charges, including the possession and transport of 3.5 kg (7.72 pounds) of marijuana. 

In 2024, police named Hoiby as a suspect of physical assault against a woman with whom he had been in a relationship.

Hoiby, in a statement to the media at the time, admitted to causing bodily harm to the woman while he was under the influence of cocaine and alcohol and of damaging her apartment. Hoiby said he regretted his acts.

On Sunday, police detained Hoiby on suspicion of causing bodily harm, wielding a knife and violating a restraining order.

Reporting by Gwladys Fouche and Nora Buli; Editing by Alison Williams and Andrew Heavens

Spain wants to prohibit social media for under-16s, Prime Minister Pedro Sanchez said

International News via Reuters:

Spain and Greece on Tuesday proposed bans on social media use by teenagers as attitudes hardened in Europe against technology some say is designed to be addictive and which can expose children to harmful content.

Spain wants to prohibit social media for under-16s, Prime Minister Pedro Sanchez said. Greece is close to announcing a similar ban for children under 15, a senior government source said.

They join countries such as Britain and France in considering tougher stances on social media, after Australia in December became the first nation to prohibit access to such platforms for children younger than 16. 

Governments and regulators worldwide are looking at the impact of children’s screen time on their development and mental wellbeing.

“Our children are exposed to a space they were never meant to navigate alone … We will no longer accept that,” Sanchez said at the World Governments Summit in Dubai. “We will protect them from the digital Wild West.”

‘COALITION OF THE DIGITALLY WILLING’

Sanchez said his government would create a law to hold social media executives personally responsible for hate speech on their platforms.

Representatives of X, Google (part of Alphabet), TikTok, Snapchat and Meta did not immediately respond to requests for comment on Spain’s proposed measures.

The Australia ban “leaves significant gaps that could undermine its goals,” including limitations in age verification technology and users switching to unregulated messaging apps, Snapchat said in a statement on Monday.

Spain joins five other European countries that he dubbed the “Coalition of the Digitally Willing” to coordinate and enforce cross-border regulation, Sanchez said, without naming the countries, set to hold their first meeting in the coming days.

“We know that this is a battle that far exceeds the boundaries of any country,” he said. His office did not respond to a request for clarification.

EXPLOSION OF AI-GENERATED CONTENT

Legislation to ban children under 15 from social media is currently passing through France’s parliament. Britain is also considering similar measures.

Spain’s proposed regulation would give parents clear backing to set limits and would ease social pressure for children worried about missing out, said Diana Diaz, director of the ANAR Foundation for at-risk children and adolescents.

The recent explosion of AI-generated content, and public outcry over reports of Elon Musk’s Grok AI chatbot generating non-consensual sexual images, including of minors, has fueled debate over the risks of such online content. 

But there was no unanimous agreement that social media harms adolescents, said Jose Cesar Perales, a professor in experimental psychology at the University of Granada.

HOLDING SOCIAL MEDIA EXECUTIVES ACCOUNTABLE

Sanchez said prosecutors would explore ways to investigate possible legal infractions by Elon Musk’s Grok, as well as by TikTok and Instagram, part of Meta.

The proposed ban would be implemented as part of a change to an existing bill on digital protection for minors being debated in parliament, according to a government spokesperson.

About 82% of Spaniards said they believed children under 14 should be banned from social media, according to a 30-country Ipsos poll on education published last August. That was up from 73% in 2024.

“It’s a good measure to encourage children to play with each other and not be on their mobile phones in parks, which I think is terrible, to be honest,” said Miguel Abad, a 19-year-old student in Madrid.

In Australia, social media companies deactivated nearly 5 million accounts belonging to teenagers within weeks of the ban taking effect, the internet regulator said last month, suggesting the measure could have a sweeping impact.

Reporting by David Latona, Emma Pinedo, Victoria Waldersee, Renee Maltezou, Elizabeth Piper and Paolo Laudani; Writing by Charlie Devereux; Editing by Hugh Lawson, David Holmes and Bernadette Baum

After meeting Trump in Davos in January, NATO Secretary-General Mark Rutte said they had discussed how NATO allies could work collectively to ensure Arctic security

International News via Reuters:

NATO has started military planning for an Arctic Sentry mission, a spokesperson for the alliance’s military headquarters SHAPE said on Tuesday, against a backdrop of tensions between the U.S. and European allies over Greenland.

Repeated remarks by U.S. President Donald Trump that he wants to acquire Greenland, accusing European allies of failing to properly secure the large Arctic island against Russia or China, has sparked a dispute with Copenhagen over the Danish overseas territory and triggered strains with NATO.

“Planning is underway for NATO has started military planning for an Arctic Sentry mission, a spokesperson for the alliance’s military headquarters SHAPE said on Tuesday, against a backdrop of tensions between the U.S. and European allies over Greenland.a NATO enhanced vigilance activity, named Arctic Sentry,” Colonel Martin O’Donnell, spokesperson for the Supreme Headquarters Allied Powers Europe, said, confirming a report by German magazine Spiegel.

He declined to provide additional details as planning had only just begun.

After meeting Trump in Davos in January, NATO Secretary-General Mark Rutte said they had discussed how NATO allies could work collectively to ensure Arctic security, including not just Greenland but the seven NATO nations with land in the Arctic.

It was not immediately clear whether NATO defence ministers will discuss the topic at their February 12 meeting in Brussels.

Under the alliance’s rules, the NATO Supreme Allied Commander Europe, U.S. General Alexus Grynkewich, has the authority to plan and execute “enhanced vigilance activities” without needing unanimous approval by the allies.

Reporting by Sabine Siebold; editing by Benoit Van Overstraeten and Mark Heinrich