
Trump Leaving G7 Early After Telling Tehran To 'Evacuate' - CNN NewsNight with Abby Phillip - Podcast on CNN Audio
Trump Leaving G7 Early After Telling Tehran To 'Evacuate' CNN NewsNight with Abby Phillip 47 mins
President Donald Trump is leaving the G7 summit early after suggesting that he could soon strike a deal with Iran to end the current conflict. Trump has proposed a ceasefire deal, according to French President Emmanuel Macron. But Trump also warned Iranians to evacuate Tehran, underscoring the danger to its 10 million residents.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
32 minutes ago
- Yahoo
China's Oil Demand Will Peak Earlier Than Expected, IEA Says
(Bloomberg) -- China's oil demand will stop growing earlier than expected, reinforcing the outlook for a global peak and prolonged supply surplus this decade, the International Energy Agency said. Security Concerns Hit Some of the World's 'Most Livable Cities' As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space As American Architects Gather in Boston, Retrofits Are All the Rage How E-Scooters Conquered (Most of) Europe The IEA slashed forecasts for Chinese consumption until 2030 by about 1 million barrels a day amid 'extraordinary' domestic sales of electric vehicles. It predicts the nation's demand — which has dominated world growth this century — will top out in 2027, and worldwide oil use two years after that. While the Israel-Iran conflict has stirred concern over immediate energy stockpiles, 'oil markets look set to be well-supplied in the years ahead,' IEA Executive Director Fatih Birol said. The agency was created in the 1970s to advise major consumers on energy policy. Crude prices surged the most in three years Friday as Israel launched airstrikes on OPEC member Iran, though the gains have since cooled as oil exports remain unaffected. US futures traded near $70 per barrel Monday, down 19% from last year's peak, amid expectations of an impending surplus. China's oil use will reach a maximum 16.9 million barrels a day by 2027, peaking roughly two years earlier than previously forecast, according to the IEA's report. Besides the ascent of EVs, high-speed rail and trucks powered with natural gas will help displace crude oil. China National Petroleum Corp., the country's largest energy producer, predicted in December that peak demand may arrive as early as this year. The IEA projects that global oil demand growth will slow to a 'trickle' the next few years, with consumption at a maximum of 105.5 million barrels a day in 2029 — roughly in line with last year's forecast. It would then decline slightly the following year. With China fading, the anticipated worldwide demand growth — amounting to about 2.5 million barrels a day total by 2030 — will largely come from India and other emerging economies. Forecasts for US oil demand were bolstered by roughly the amount that China's were cut as America cools on EVs. As Beijing recedes from the center of oil demand, the US will diminish in importance to global supplies after its shale oil boom helped provide about 90% of growth during the past decade. Investment is slowing as crude prices falter. 'When we look at oil market trends over the past decade, we see a remarkable double act' in China and the US, Birol said. 'But these dynamics are shifting.' America's output will nonetheless keep growing, complemented by Brazil, Canada and Guyana. About 5.1 million barrels of production capacity will be added globally this decade, double the increase in oil demand. Many leading players in the energy industry expect oil use will prove more tenacious than the IEA anticipates. Vitol Group, known as the world's biggest independent oil trader, and some Wall Street banks such as Bank of America Corp. have predicted that peak demand won't arrive until after 2030. Some of the IEA's other forecasts, such as its projection of a decline in coal demand, have missed the mark. At the extreme end of the spectrum, the Organization of the Petroleum Exporting Countries projects that oil demand will keep increasing until at least the middle of the century, though the cartel has backtracked on prior short-term forecasts that proved excessively bullish. While the OPEC+ alliance led by Saudi Arabia has in recent months started to ramp up the production halted during the past few years, the IEA sees limited need for those extra barrels as rivals expand. 'OPEC+ may struggle to regain substantial market share,' according to the report. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros American Mid: Hampton Inn's Good-Enough Formula for World Domination How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants The Spying Scandal Rocking the World of HR Software US Allies and Adversaries Are Dodging Trump's Tariff Threats ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
32 minutes ago
- Yahoo
Oil Fluctuates as Traders Watch for Israel-Iran War Escalation
(Bloomberg) -- Oil fluctuated as traders parsed comments from President Donald Trump on the conflict between Israel and Iran, with the market on edge about potential crude supply disruptions in the Middle East. Security Concerns Hit Some of the World's 'Most Livable Cities' As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space As American Architects Gather in Boston, Retrofits Are All the Rage How E-Scooters Conquered (Most of) Europe Brent jumped as much as 2.2% before easing to trade near $73 a barrel, while West Texas Intermediate was below $72, after futures closed lower on Monday on signs Iran was seeking a deescalation. Israel, however, has continued its attacks, which started Friday by targeting nuclear sites. In a social media post on Monday evening, Trump warned residents of Tehran to evacuate. The president said later that his early departure from the Group of Seven summit in Canada has 'nothing to do' with working on a ceasefire between Israel and Iran. Axios had reported possible peace talks. So far, Iran's crude-exporting infrastructure has been spared, and most of the fallout has been confined to shipping. Navigation signals in the Strait of Hormuz and the Persian Gulf are facing increasing interference that's impacting positional reporting, according to the UK Navy, and some shipowners are reluctant to accept bookings in the region, citing safety concerns. The market remains focused on the Strait of Hormuz and any sign that Tehran may seek to disrupt crude flows through the waterway, through which about a fifth of the world's daily output passes. A blaze spotted in waters near the area on Tuesday is not security related, according to a maritime risk firm. Oil prices still remain significantly higher than where they were before the attacks began, which prompted record volumes of producer hedging as well as futures and options changing hands. Morgan Stanley has hiked its price forecasts, citing increased risk from the conflict. 'It's a jittery market but still not pricing in the worst-case scenarios on supply disruption,' said Vandana Hari, the founder of Vanda Insights in Singapore. 'There could well be bigger strikes ahead, but that is still not changing the market's calculus on supply risk.' Israel said it's taken control over much of Iran's airspace and severely damaged key facilities used in its missile and nuclear programs since the assault was launched on Friday, sparking fears of widening conflict in a region that produces around a third of the world's crude. 'Oil and shipping are rendered first-order tail risks,' Vishnu Varathan, head of macro for Asia ex-Japan for Mizuho Bank Ltd., said in a note. 'Doubling of oil prices in an effective blockade of the Hormuz is not outlandish.' --With assistance from Rob Verdonck and Yongchang Chin. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros American Mid: Hampton Inn's Good-Enough Formula for World Domination How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants The Spying Scandal Rocking the World of HR Software US Allies and Adversaries Are Dodging Trump's Tariff Threats ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Bloomberg
34 minutes ago
- Bloomberg
China Suggests US Should Help Ease Tensions Between Israel, Iran
China suggested the US use its influence with Israel to stop the conflict with Iran from spilling over, a sign Beijing is becoming increasingly concerned about the stability of a region it relies on for energy supplies. 'China calls on all parties concerned, especially those that have a special influence over Israel, to shoulder their due responsibilities and take immediate measures to cool the tensions and prevent the conflict from expanding,' Foreign Ministry spokesman Guo Jiakun said at a regular press briefing in Beijing on Tuesday.