Evening Briefing: Thursday 6 August 2026
- Petrol: The relief on oil has reversed — Brent jumped around 4 per cent to nearly $83 a barrel as the Iran deal stayed unsigned and fighting flared elsewhere. Petrol prices may not fall as much as hoped.
- Mortgages: Government borrowing costs edged up again, the 10-year gilt yield back near 4.95 per cent, as the oil rebound revived inflation worries. Fixed mortgage rates look set to stay high.
- Food: The drought is set to make vegetables smaller and dearer, and the harvest is heading for a record low, keeping food prices under pressure.
Hormuz Deal Still Unsigned as Trump Grows Frustrated
A deal to reopen the Strait of Hormuz remained unsigned on Thursday evening, and the strait stayed shut, despite what President Trump said had been “all-day” talks. Iran played down the prospect of a breakthrough, its state media casting t…
Houthi Attack Kills Dozens in Yemen
Houthi fighters launched an assault on Yemeni government forces that killed at least thirty people, in some of the deadliest internal fighting in the country in years. The Houthis themselves claimed a higher toll of forty-five dead. The at…
Ukraine Strikes Two Russian Oil Refineries
Ukraine struck two major Russian oil refineries with long-range weapons, President Zelensky said, pressing its campaign to hobble the industry that funds Moscow’s war. Russia’s defence ministry claimed it had shot down hundreds of Ukrainia…
Israel Strikes South Lebanon as Talks Collapse
Israel struck the southern Lebanese town of Majdal Zoun on Thursday, killing at least one person and wounding a dozen, after the collapse of US-brokered talks between the two countries in Rome. Israel said it was responding to a violation…
Southern Europe Bakes in Record Heat
A severe heatwave gripped southern Europe on Thursday, with Italy placing all its major cities under its highest heat alert and Austria setting a new national temperature record. Authorities warned people to stay indoors during the hottest…
easyJet Agrees £5.7bn Takeover by US Firm
The budget airline easyJet has agreed to a takeover worth around £5.7bn by the American private-equity firm Apollo, which will take the carrier private. A rival bidder dropped out, leaving Apollo to seal one of the biggest British corporat…
Trains Halted Across North-West England
Rail services across north-west England were thrown into chaos on Thursday after a power failure at a signalling centre in Manchester, with disruption spreading to the Midlands and services to London. Passengers faced cancellations and lon…
Homes Attacked in Anti-Migrant Disorder
Crowds attacked properties they believed were housing asylum seekers on Thursday, smashing windows in scenes of disorder that saw a police officer seriously injured. The officer was bitten during the trouble, and arrests were made. The unr…
Government Won't Rule Out a Bank Tax Rise
The government has declined to rule out raising taxes on banks at its first Budget in the autumn, keeping the option on the table as the Chancellor hunts for revenue. Ministers would not be drawn on the levy that banks pay on top of corpor…
Most of England's Rivers and Lakes Fail Review
A majority of England’s rivers and lakes have failed a new environmental assessment of their health, according to figures published on Thursday. Pollution from sewage, farming and industry has left waterways in poor ecological condition ac…