Oil prices rose 1% after US inventories fell and exports increased. Macroeconomic uncertainty due to US tariffs on Indian goods limits growth.
US President Donald Trump announced that a decision on additional tariffs on Chinese goods is close to being made. This is related to Beijing's trade with Russia, but the exact date of the restrictions' introduction is unknown.
Chinese Foreign Minister Wang Yi considers the start of negotiations between Russia and Ukraine an important step forward, indicating a critical moment in the settlement. He also mentioned the "six-point consensus" between China and Pakistan, which, in his opinion, contributed to de-escalation.
Donald Trump said the US is close to a trade deal with China. He will meet with Xi Jinping by the end of the year if a deal is reached.
The European Union is preparing to impose sanctions against China due to its support for Russia in the war against Ukraine. This decision is related to the supply of Chinese drone engines to Russia through shell companies.
The global rise in gold prices is driven by the protectionist policies of the US, which have undermined confidence in the dollar. Investors and countries are seeking alternatives, reorienting towards gold and the euro.
Pakistan's Foreign Ministry called reports of Pakistanis' participation in the war in Ukraine baseless. The government will discuss this issue with the Ukrainian authorities and request clarification.
The Hyundai Elexio electric crossover, developed for China, may enter global markets, including Australia. Hyundai Australia CEO Don Romano confirmed that the car is undergoing evaluation for the Australian market.
Sean Duffy, NASA's acting administrator, will announce accelerated plans to build a nuclear reactor on the Moon. This comes amid the agency's budget cuts and the US's desire to outpace China and Russia in space exploration.
US Ambassador to NATO Matthew Whitaker stated that Trump's policy is pushing Russia towards negotiations with Ukraine. The next step will be secondary sanctions and tariffs against countries buying Russian oil.
From January to July 2025, Gazprom exported 9. 93 billion cubic meters of gas to Europe, which is the lowest figure since the early 1970s. This happened after the loss of transit through Ukraine, which led to an almost twofold decrease in supply volumes.
President Zelenskyy recorded the participation of mercenaries from China, Pakistan, Tajikistan, Uzbekistan, and African countries in the battles in the Vovchansk direction. The information was provided by commanders during the President's visit.
President Zelenskyy met with soldiers of the 57th brigade in the Vovchansk direction, discussed the situation, and presented awards. The soldiers report the participation of mercenaries from Asia and Africa.
Andriy Yermak, head of the President's Office, believes that this week the world may get a chance to stop the war waged by Russia. He emphasized that Trump's ultimatum to Russia is important, and Ukraine appreciates its clarity.
The price of gold at the beginning of August 2025 reached 134,480 hryvnias per troy ounce, which is more than 20% higher than in December 2024. Global demand for gold increased by 3%, with investment demand rising by 78%, and demand for jewelry decreasing.
As of July 31, watermelon is the sales leader, followed by plum and nectarine. Melon prices are rising, while apples and grapes are getting cheaper.
China refused to stop purchasing oil from Iran and Russia, citing national energy interests. Beijing stated that coercion and pressure would not succeed.
Indian Prime Minister Narendra Modi called on the country to buy local goods in response to US threats to impose tariffs. The Modi administration has not instructed Indian refineries to stop buying Russian oil, considering it a commercial decision.
China stated that it would not change its energy policy under external pressure, responding to US calls to stop purchasing oil from Russia and Iran. The Chinese Ministry of Foreign Affairs emphasized that it would ensure energy supply in accordance with national interests.
The naval forces of Russia and China have begun joint exercises in the Sea of Japan, practicing anti-submarine and anti-aircraft tasks. The maneuvers will last until August 5, including artillery firing and search and rescue operations.
Stephen Miller, advisor to the President of the United States of America, accused India of funding Russia's war against Ukraine through oil purchases. He noted that India is effectively linked with China in purchasing Russian oil.
President of Ukraine Volodymyr Zelenskyy announced the application of sanctions against 94 captains and five companies of Russia's "shadow fleet. " These individuals and organizations transported Russian oil circumventing the price cap.
In eastern Australia, cities found themselves under the thickest layer of snow in decades, leading to floods, stranded vehicles, and power outages for thousands of homes. The cold front brought up to 40 cm of snow, causing over 1455 incidents.
Today, August 3, the military personnel of the Air Force of the Armed Forces of Ukraine celebrate their professional holiday. Since the beginning of the full-scale invasion, 363 enemy aircraft and 326 helicopters have been destroyed.
New Zealand is introducing a fee of up to 40 New Zealand dollars for foreign tourists to visit popular sites. This is expected to generate 62 million New Zealand dollars annually, which will be invested in these facilities.
Tropical storm "Wipha" caused large-scale floods and landslides in Thailand, killing at least six people and affecting over 230,000. Since July 21, heavy rains have flooded 12 provinces, mainly in the north and center of the country.
Indian officials have stated their intention to continue purchasing Russian oil, despite threats of sanctions from US President Donald Trump. India and Russia have a stable and time-tested partnership.
Chinese authorities have accused US intelligence agencies of cyber espionage against Chinese military companies. The attacks allegedly exploited Microsoft Exchange vulnerabilities to access secret information.
From August 1, the US maintains a 10% universal tariff but introduces a 15% minimum tariff for countries with a trade deficit. Trump fragmented negotiations, successfully reaching agreements with Europe while continuing pressure on China.
Oil prices barely changed as fears of tariffs' impact on demand balanced the threat of supply disruption from Russia. Brent and WTI futures rose slightly, but are expected to increase by 4.9% and 6.4% respectively by the end of the week.
