the pop in prices came after the us announced it was increasing its deployment of military resources to the middle east to safeguard israel. israel has been preparing for retaliation by iran and the hezbollah for nearly two weeks after the assassination of a hamas leader in tehran. our energy expert mukesh sahdev explained where he sees oil prices headed after that 4% jump overnight. we do believe that the oil price will continue to be volatile in this $80—$90 a barrel range. i know that there is a lot on the geopolitical side and right now some expectations are higher, escalation is probably helping. i think if you talk about fundamentals, i want to make two very important key points on how to see the oil prices. one, i believe the opec map...

the oil leaking into the market is probably then gets counted so probably escalation could have gone even higher. i think there is more oilflowing into the market than gets counted. the second important factor, we saw this in earnings is what i would call downstream of the new upstream for the middle east. they have commissioned big refineries, almost plus $2 million barrels capacities. they are putting almost 1.5 million barrels more product into the market, which in my view is effectively sending prudent to the rest of the world, so they keep the oil prices from rising high. i guess the high oil prices is also not good in 0pec+ side of unity because then it would start a bit of non—compliance and other things start happening, so i would say 80—90, more than the price of the price

of the market, that is what 0pec+ is targeting. speaking of opec, they have lowered their outlook, softer expectations for oil demand coming up from china. what is your outlook on that front? i would say that is a symbolic from 2.45, which they kept since lastjuly to 2a, 2.1, that is symbolic. i do not read much into that. last week, i was in china and i think beijing is buzzing, and i believe that yes, there is a weakness and a sentiment from china, but we still believe that china's demand will turn out to be quite 0k and that week. year on year, our numbers for demand growth is about a million, which is almost a million barrels lower than what opec has put out. i guess that is more of a political or optimistic statements rather than any demand outlook which does not change for 12 months in a row. the putting almost $1.5 million more product into the market.

elon musk was meant to start his interview with donald trump 30 minutes ago but they are facing technical issues with users unable to access it. it has officially begun. they said it was from a cyber attack wanting on shutting it down. meanwhile the composition has gone ahead with a smaller number of live listeners and he will pose the entire chart immediately after on x. log onto our website for more. our live page is up and running. tech giant meta has just inked a multi—year deal with universal music. they are the largest music company in the world. the new agreement will allow music from its artists to be shared across platforms, including messaging platform whatsapp and virtual realities like metaquest. the companies are also looking to combat unauthorised ai—generated content that can impact music artist. the latest deal builds upon the previous agreement that universal music group

and meta signed in 2017. staying in the us, this week the world's largest home improvement chain, home depot, and retail giant walmart will be releasing their quarterly results for april tojune. both retailers have always been popular with us consumers. but with the rising cost of living in the us, their latest report cards could provide clues on the health of the us consumer. for more, i spoke to market watcher olivier d'assier. this is getting ahead an important week for that, we have sales and earnings from home depot and walmart and a few others. this is all going to be about the consumer in the us and how much are they holding back, how much budgeting are they making right now. we have also the inflation report coming out on wednesday. that will tell us whether or not more pain is coming for the consumer or not or whether inflation is still declining enough to allow the fed to cut rates in september and by how much, people of already priced in three

to four cuts, that's about twice as much as many cuts as they predicted only a month ago. they are really hoping that inflation comes out on the right side. in other words, down. otherwise you might see another overreact. speaking of inflation, data is expected this week. where do you think it is headed? for months and months its core inflation, months and months — if that stays at 0.2, you will hit your 2 annual target. your 2% and—year—old —— and your target. the last 12 months, july, the 2023 numbers are 0.2, something like that, so they should be somewhat easier to beat or at match. should not cause too much money. sentiment is very raw right now, it has been a bearish for ten days, which means investors are prone to overreaction, so let's hope there is a disappointment on this front.

starting this week, indian trains will begin plying the world's highest single arch railway bridge. it's part of a crucial rail connectivity project that links indian—administered kashmir with the rest of india for the very first time by rail. the bbc�*s nikhil inamdar has been taking a sneak peek and has more on what this project means for the economy of kashmir. this is india's new showpiece railway bridge. it will connect remote indian kashmir with the rest of the country for the very first time by train. this is a truly imposing structure. the bridge runs a full 1.3km over the river. just to give you a sense of how high it is, take a look down there. that's the riverbed and it's about 359m right to the top. just for comparison, that is about 35m taller than the eiffel tower.

built by the indian railways, it is a link the government hopes will bridge long—standing barriers in this heavily militarised region. india has seen a continuing stand—off with pakistan over kashmir and a decades—long insurgency in the region. this rail link will be crucial during peacetime and in conflict. we've got the strategic military option. it can permit the transport of military personnel and to the water areas, which would make a significant contribution to strengthen our water security. and then there is the economic impact. at the storage facility, road blockages and landslides during transport are a major concern for food growers. seven in ten kashmir people depend on farming of perishable fruit. we have three kinds of storage.

he owns the warehouse and says the alternative to send produce by train could be a game changer. our only dependency right now is the highway. we will have access to the free markets, it may result in parts of india. that will have more demand and it will help the power. kashmir is often called a paradise of earth. its breathtaking scenery has long been a draw for tourists. arrivals are up 30% on the first half of this year. and the trains could bring in even more people. but a recent spurt of militant activity is a reminder of the fragile nature of the space. without better connectivity, it will only go so far in bringing about an economic revival to the region.

india's adani groupd faced a massive stock sell—off on monday, wiping out over $2 billion of the market value. the move followed a new report from the us hindenburg research which accused the boss of the capital markets regulator of having conflicts of interest that prevented an in—depth approve of the fraud allegations. the enterprises will become the largest shareholder of britain's bt group after buying a 25% stake in the company, which belongs to the telecoms tycoon whose group has been struggling with high debt levels. the acquisition cost roughly $4 billion with the telecom giant saying it has no plans to buy the rest of the uk company.

india's retail inflation fell below the target for the first time since 2019, prices rose 35% injuly, slightly below the target of 4% and like most of the world, india has been trying to combat high inflation. the country's cost of borrowing rate currently sits at 6.5%. that is if it is there for this edition of business today, from singapore, thank you for watching.

hiya. i'm betty with the catch up. tonight — miley cyrus is a legend, water on mars and a flamingo adoption. a man who fatally stabbed three people in nottingham last year was identified three years previously as a potential killer. calocane�*s mother and brother have told bbc panorama that this was one of a series of missed opportunities over three years that could have prevented the killings.

the doctor treating valdo calocane warned of the severity of his mental illness and was diagnosed with paranoid schizophrenia in 2020. calocane went on to murder ian coates, barnaby webber and grace o'malley—kumar. and if you want to find out more, you can watch panorama, the nottingham attacks: a search for answers on bbc one and on the bbc iplayer. next, some more water has been found on mars. we already knew there were large amounts frozen at the planet's poles. but scientists have discovered a reservoir of liquid water on the red planet. the researchers have said that the ground water detected could cover the entire planet to a depth of about a mile. now, this is an emotional one. miley cyrus rose to fame as hannah montana when she was 13 in 2006. and she's now become the youngest ever star to receive disney legend status. she received a standing ovation from 12,000 people

when she collected her award, as she should. time now for 10 seconds of a flamingo adoption. curtis and arthur are a same—sex pair of flamingos from devon zoo and have successfully hatched an egg. it's not known exactly how they got the egg, but it's in safe hands — or beaks. now you're all caught up. have a good night. hello and welcome to sportsday — i'm olly foster. team gb have their homecoming with 65 olympic medals, but should they have brought more golds back from paris? tom daley signs off with silver, a fifth olympic medal, and he says paris was his fifth and final games. i'm really happy with how everything's gone.

ijust think it's always hard when you say goodbye to your sport. and from manchester to madrid — julian alvarez leaves the premier league champions — tojoin atletico for over £80 million. the summer olympics are over for another four years, and some athletes will be revelling in their paris achievements before plotting the path to la 2028. others will be wondering whether they can go through it all again. the majority of the team gb squad returned to london on monday, with many of the 65 medals on show — but only 1a of them gold — their lowest total since 200a. our correspondentjoe wilson was at st pancras for the homecoming.