US strikes may have set back Iran nuclear program only months, sources say
A satellite image shows new airstrike craters at an entrance to the Fordow Fuel Enrichment Facility, amid the Iran-Israel conflict, near Qom, Iran, June 24, 2025. (Reuters)
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South China Morning Post
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Oil price ticks higher after 2-day slump as energy traders assess Iran-Israel ceasefire
Oil edged higher – after posting the biggest two-day decline since 2022 – as traders assessed the Iran-Israel ceasefire and an industry report that pointed to another drop in US crude stockpiles. Advertisement Brent crude rose about 1 per cent to near US$68 a barrel, after slumping 13 per cent over the past two days, while West Texas Intermediate was above US$65. Following their brief war, Israel and Iran appeared to be honouring the ceasefire brokered by US President Donald Trump, reducing risks to supplies from the region. Also on Tuesday, Trump gave China, Iran's biggest crude customer, the green light to carry on buying its oil, as he sought to bolster the truce. That move appeared to undermine years of US sanctions against Tehran. A senior White House official later signalled that curbs on Iran would remain. The global oil market has had a wild ride this week, marked by rapid shifts in sentiment. Prices initially spiked after the US bombed Iranian nuclear sites at the weekend, boosting concerns about crude supplies, then got dragged sharply lower as the White House announced the truce between Tehran and Israel. The apparent policy shift on Iranian exports added to the losses. 'A slight upwards correction in crude is to be expected after a two-day plunge,' said Vandana Hari, founder of Vanda Insights. 'While the market will keep an eye on the fragile truce for a bit, focus will rotate back to the economic picture, the fate of the US' tariff negotiations, and Opec.' Advertisement The Opec alliance is due to hold a videoconference on July 6 to consider a further supply boost in August. Meanwhile, Trump's self-imposed deadline to reach trade deals with the US' major partners falls on July 9. Nations without an accord in place will face the so-called 'Liberation Day' tariffs.
RTHK
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Upstart Mamdani wins NYC Democratic mayoral primary
Upstart Mamdani wins NYC Democratic mayoral primary Zohran Mamdani would be the first Muslim and Indian American mayor of New York City if elected. File photo: Reuters Zohran Mamdani declared victory in New York City's Democratic mayoral primary on Tuesday night after Andrew Cuomo conceded the race in a stunning upset, as the young, progressive upstart who was virtually unknown when the contest began built a substantial lead over the more experienced but scandal-scarred former New York state governor. Though the race's ultimate outcome will still be decided by a ranked choice count, Mamdani took a commanding position just hours after the polls closed that put him in a distant first place. 'I will be your Democratic nominee for the mayor of New York City," the 33-year-old democratic socialist whose energetic campaign centred on the cost of living jolted the contest told supporters. 'I will be the mayor for every New Yorker, whether you voted for me, for governor Cuomo, or felt too disillusioned by a long-broken political system to vote at all. 'I will work to be a mayor you will be proud to call your own.' Cuomo, who had been the front-runner throughout a race that was his comeback bid from a sexual harassment scandal, conceded the election, telling a crowd he had called Mamdani to congratulate him. 'Tonight is his night. He deserved it. He won,' Cuomo told supporters. Cuomo trailed Mamdani by a significant margin in the first choice ballots and faced an exceedingly difficult pathway to catching up when ballots are redistributed in New York City's ranked choice voting process. Mamdani would be the city's first Muslim and Indian American mayor if elected. Incumbent Mayor Eric Adams skipped the primary. He's running as an independent in the general election. Cuomo also has the option of running in the general election as an independent. 'We are going to take a look and make some decisions,' he said. Unofficial results from the New York City's Board of Elections showed that Mamdani was ranked on more ballots than Cuomo. Mamdani was listed as the second choice by tens of thousands of more voters than Cuomo. And the number of votes that will factor into ranked choice voting is sure to shrink. More than 200,000 voters only listed a first choice, the Board of Elections results show, meaning that Mamdani's performance in the first round may ultimately be enough to clear the 50 percent threshold. The race's ultimate outcome could say something about what kind of leader Democrats are looking for during US President Donald Trump's second term. The vote took place about four years after Cuomo, 67, resigned after a barrage of sexual harassment allegations. He entered the race touting deep experience, strong political connections and a juggernaut fundraising apparatus, running a campaign that depicted the city as a dangerous, out-of-control place that needed a steady hand to put it back on track. The party's progressive wing, meanwhile, had coalesced behind Mamdani. A relatively unknown state legislator when the contest began, Mamdani gained momentum by running a sharp campaign laser-focused on the city's high cost of living and secured endorsements from two of the country's foremost progressives, congresswoman Alexandria Ocasio-Cortez and senator Bernie Sanders. The primary winner will go on to face incumbent Adams, amid a public uproar over his indictment on corruption charges and the subsequent abandonment of the case by Trump's Justice Department. Republican Curtis Sliwa, the founder of the Guardian Angels, will be on the ballot in the fall's general election. The mayoral primary's two leading candidates, one a fresh-faced progressive and the other an older moderate, were stand-ins for the larger Democratic Party's ideological divide. The rest of the pack has struggled to gain recognition in a race where nearly every candidate has cast themselves as the person best positioned to challenge Trump's agenda. (AP)
RTHK
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Nato leaders gather to finalise defence spending
Nato leaders gather to finalise defence spending From left, Turkey's President Tayyip Erdogan and US President Donald Trump pose for a picture on the sidelines of the Nato Summit in The Hague. Photo: Reuters Jamie Clarke reports Nato leaders gather in The Hague on Wednesday for a summit tailor-made for US President Donald Trump, with European allies hoping a pledge to hike defence spending will prompt him to dispel doubts about his commitment to the alliance. The summit is expected to endorse a higher defence spending goal of five percent of GDP - a response to a demand by Trump and to Europeans' fears that Russia poses an increasingly direct threat to their security following the 2022 war in Ukraine. Nato officials are hoping the conflict between Israel and Iran, and the US bombing of Iranian nuclear sites at the weekend, will not overshadow the gathering, hosted by alliance Secretary General Mark Rutte in his home city. Trump has threatened not to protect Nato members if they fail to meet spending targets and he raised doubts about his commitment again on his way to the summit by avoiding directly endorsing the alliance's Article 5 mutual defence clause. Speaking to reporters aboard Air Force One, he said there were "numerous definitions" of the clause. "I'm committed to saving lives. I'm committed to life and safety. And I'm going to give you an exact definition when I get there," he said. The new target - to be achieved over the next 10 years - is a big increase on the current goal of two percent of GDP, although it will be measured differently. It would amount to hundreds of billions of dollars in extra annual spending. Countries would spend 3.5 percent of GDP on core defence - such as troops and weapons - and 1.5 percent on broader defence-related measures such as cyber security, protecting pipelines and adapting roads and bridges to handle military vehicles. (Reuters)
