Today's top Malaysian news, sport and lifestyle.
OPEC+ will convene Sunday for a Joint Ministerial Monitoring Committee meeting, with seven member states expected to raise September production targets by 188,000 barrels daily, completing the phase-out of additional voluntary cuts.
Shell's first-half earnings jumped 70 per cent to US$16.75 billion, capitalising on oil price volatility tied to Middle East tensions. Trading gains and strong operational performance offset disruptions to some facilities.
Oil prices fell 5% to their lowest levels in two weeks as fighting paused between the US and Iran, raising hopes for potential negotiations. However, the closure of key shipping routes and ongoing regional threats keep markets cautious.
Iran's Islamic Revolutionary Guard Corps has declared full control of the Strait of Hormuz, stating that no tankers carrying oil, gas, or fertiliser will be permitted passage without explicit Iranian coordination and approval.
Iran's Supreme Leader Khamenei has declared US President Trump's signature meaningless after accusing Washington of violating a June peace accord, as military exchanges intensify across the Middle East.