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.
Iran announced the Strait of Hormuz is fully open for commercial shipping during the current ceasefire in the US-Israel conflict, causing Brent crude oil prices to fall to $88 a barrel. The vital waterway, through which a fifth of global oil and liquefied natural gas typically passes, had been largely closed since US-Israel strikes on Iran in February.
Anthropic’s new Claude Mythos AI model has generated significant discussion among regulators and financial institutions, including at an IMF meeting in Washington DC this week. The company claims Mythos can outperform humans in cybersecurity tasks, identifying and exploiting vulnerabilities in existing systems. However, independent cybersecurity experts remain cautious, with some suggesting the claims may reflect industry hype more than verified capabilities, while acknowledging the potential risks to poorly defended infrastructure.
