Firms turning crude oil into the ‘workhorse’ fuel stand to gain most despite economic fallout from record prices

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Days after Donald Trump announced a deal to import Russian diesel into the US in an effort to lower soaring pump prices, the world’s energy watchdog has warned that the global fuel shortage will drag into 2027.

Trump’s temporary sanctions reprieve was criticised for offering “too little, too late” to temper the sky high pump prices triggered by the shutdown of war-damaged refineries in the Middle East and Russia – once the world’s second-largest diesel exporter behind the US.

Launch of Russian ballistic missiles on Ukraine, with no US warning, coincides with outage of Starlink managed by Musk’s SpaceX

Ukraine’s military has suddenly had its access to Starlink satellite internet terminals restricted as the Trump administration has increased pressure on Ukraine to halt long-range strikes on Russia’s oil industry immediately.

The terminals, which are produced by Elon Musk’s SpaceX but managed by the US government, are a key component of Ukraine’s military operations and the sudden restrictions on the terminals travelling at high speeds on Tuesday evening led to the failure of several combat missions, said an adviser on military technology to Ukraine’s president, Volodymyr Zelenskyy.

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In a recent visit to Greece, the secretary of state suggested that Europe must rediscover the values of conquest and expansion

They had obviously worked hard on the backdrop – and it was magnificent. On 7 October, the US secretary of state, Marco Rubio, delivered a major speech in Athens, outdoors, with the Acropolis behind him. The sun was setting, bathing the ancient scene, including the Parthenon, in the light of the golden hour.

The golden hour, but yet not quite the golden age. This was not Pericles defending democracy. Instead, Rubio offered a haunting vision of the choices facing the west, arguing that the US and Europe must rediscover the values of exploration and conquest that once drove centuries of expansion, or face decline and irrelevance.