The proportion of UK mortgage lending requiring minimal deposits has reached its highest level since the 2008 financial crisis. First-time buyers are increasingly turning to 100% loan-to-value products, navigating associated financial risks amid a challenging housing market.
A Ukrainian drone attack caused a significant fire at Russia's Tuapse oil refinery on the Black Sea, leading to resident evacuations. This marks the third such strike this month on the facility, which Ukraine claims funds Russia's 2022 invasion. Moscow condemned the action, alleging it exacerbates global energy market instability.
The United Arab Emirates has announced its departure from the Opec and Opec+ oil-producing blocs, a move it attributes to its 'long-term strategic and economic vision' and changing energy landscape. The withdrawal concludes nearly 60 years of UAE membership.
