Global Stocks Gain for Third Day as Oil Extends Decline

Good morning. Equities gain as oil declines. Donald Trump ditches his appeal for help in the war and slams allies. And Germany is limiting price hikes at petrol stations to once per day. Listen to the day’s top stories.

Global stocks rose for a third day as investors sought signs of stability. Oil fell as Iraq signed a deal to resume exports via Turkey that avoid the Strait of Hormuz. Donald Trump abandoned his effort to recruit partners for the conflict and scolded allies who openly rejected his appeals. Irish Prime Minister Taoiseach Micheál Martin defended Keir Starmer after the US president criticized the UK PM for not fully supporting the war.

More on the conflict: Israel’s killing of Ali Larijani puts Iran’s wartime leadership largely in hardliner hands, dimming prospects for a diplomatic way out of the war. The US ordered embassies worldwide to immediately review security, the Washington Post reported.

Germany is limiting price hikes at petrol stations to once per day and tightening antitrust oversight in response to a consumer backlash over war-driven price increases. Many African economies are running on weeks of refined fuel as the conflict chokes off shipments, forcing governments to scramble for alternatives. A reopening of the vital waterway looks unlikely without a ceasefire.