Closing summary
Ukraine’s president, Volodymyr Zelenskiy ,has said that the deaths of at least 19 soldiers in a Russian missile strike on a military ceremony was a “tragedy that could’ve been avoided”. Other reports suggest the death toll could be much higher, while defence chiefs are under pressure over the staging of the event in a frontline village vulnerable to attack.
Vladimir Putin has decided to run in the March presidential election, a move that will keep him in power until least 2030, as he is said to feel he must steer Russia through its most perilous period in decades, sources told Reuters.
Radio Free Europe has said that it believes Russia may have taken one of its journalists “hostage” for a potential prisoner swap with the US and is appealing to Moscow not to treat her cruelly, the broadcaster’s acting president said.
Several dozen owners of transport companies have today blocked three major Polish border crossings with Ukraine in protest at what they say is unfair competition from the neighbouring country’s businesses.
Ukraine’s grain exports have fallen by almost a third compared with last year, agriculture ministry data shows. The figures show that Ukraine’s grain exports have fallen to 9.8m tonnes so far in the July 2023-June 2024 season. The ministry said that by this point last year, Ukraine had exported 14.3m tonnes.
Odesa’s National Art Museum said seven exhibitions, most featuring the work of contemporary Ukrainian artists, were damaged by a Russian strike late last night that left a large crater outside the museum, which is celebrating its 124th anniversary. Ukraine’s deputy foreign minister, Emine Dzheppar, said Kyiv was “deeply outraged” by the attack and urged the UN’s Paris-based heritage agency, Unesco, to condemn it.
Solar panels removed from high-rise blocks of flats in London after the Grenfell tower fire have been sent to Ukraine, in an initiative designed to help the country’s reconstruction.
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Oil prices edged higher today after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year.
Brent crude futures rose $1.16, or 1.4%, to $86.05 a barrel by 16:16 GMT, while US West Texas Intermediate crude was up $1.26, or 1.6%, at $81.74.
Saudi Arabia confirmed yesterday it would continue with its additional voluntary cut of 1m barrels per day (bpd) in December to keep output around 9m bpd, a ministry of energy source said. Russia also announced it would continue its additional voluntary cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December.
“Russia and Saudi have an iron clad agreement to stay with the same supply constraints into the end of the year, and yet demand for fuel continues to be stronger than most analysts have anticipated, keeping a good bid underneath the crude prices,” said Dennis Kissler, senior vice president of trading at BOK Financial.
The cuts could be extended into the first quarter of 2024 because of “seasonally weaker oil demand at the start of every year, ongoing economic growth concerns and the aim of producers and OPEC+ to support the oil market’s stability and balance,” said UBS strategist Giovanni Staunovo.
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