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“I have concepts for Gaza that I think are very good, make it a freedom zone, let the United States get involved and make it just a freedom zone,” the US leader said in Qatar, adding: “I’d be proud to have the United States have it, take it, make it a freedom zone.”
Oil prices sank Thursday on hopes for an Iran nuclear breakthrough after Donald Trump said a deal was “getting close” and US media reported Tehran had indicated it could be open to curbs on its atomic programme.
The remarks from the US president came after the two sides on Sunday held their fourth round of talks that began last month and represented the highest-level contact since Trump in 2018 pulled out of a three-year-old deal.
Speaking in Qatar as part of his multi-day tour of the Gulf, Trump voiced optimism at avoiding a military strike on Tehran’s nuclear sites.
“We’re not going to be making any nuclear dust in Iran,” he said. “I think we’re getting close to maybe doing a deal without having to do this.”
Both main crude contracts sank more than three percent.
The commodity had already been falling Thursday on signs Iran could agree to certain demands.
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An adviser to supreme leader Ayatollah Ali Khamenei said Wednesday that Tehran could accept far-reaching curbs on its atomic programme in exchange for sanctions relief, according to NBC News.
In an interview with NBC News, Ali Shamkhani said Iran could agree to never develop nuclear weapons, give up stockpiles of highly enriched uranium and allow inspectors to nuclear sites — among other steps — if economic sanctions were lifted.
Shamkhani said “yes” in response to a reporter’s question on whether his country would be willing to sign an agreement with Washington if sanctions were lifted “immediately”.
Meanwhile, equity markets stuttered as investors await fresh developments in trade talks, with US partners looking to reach deals to avoid Donald Trump’s tariff blitz.
With excitement from the China-US detente running out of legs, the search is on for fresh catalysts to drive a rally that has pushed markets back above the levels seen before Trump’s April 2 “Liberation Day” bombshell.
News that Beijing was suspending some non-tariff countermeasures on US entities for 90 days following the superpowers’ weekend truce did little to inject much more enthusiasm.
With the tariffs crisis calmed for now, dealers can turn their attention to hard economic data, hoping for an idea about the initial impact of Washington’s trade policies.
After figures Tuesday showing US inflation came in a little below forecasts in April, eyes are on wholesale prices and retail sales due later Thursday, as well as earnings from retail giant Walmart.
However, analysts pointed out that the real impact would not be seen until May’s figures are released and warned that there were still plenty of bumps in the road ahead.
“The trade truce may hold for now, but the tariffs announced — many still around 30 percent — are not disappearing,” said Charu Chanana, chief investment strategist at Saxo.
“These are ‘sticky’ policies that can reshape supply chains, corporate margins, and even inflation. In fact, the market is now preparing for a second shock: weaker economic and earnings data in the third quarter as tariffs bite.”
She added that “the muted market reaction the day after the truce suggests investors may be digesting the idea that ‘the best news may already be out’”.
Shares in Tokyo, Hong Kong, Shanghai and Seoul were all down, but Sydney, Singapore, and Jakarta rose.
London retreated as energy firms including BP and Shell tumbled on signs of progress in the Iran nuclear programme.
Traders brushed off data showing Britain’s economy grew more than expected in the first quarter. The reading covered only the period before the announcement of Trump’s 10 percent levies on Britain and finance minister Rachel Reeves’ business tax hike.
Paris and Frankfurt also fell.
West Texas Intermediate: DOWN 3.3 percent at $61.09 per barrel
Brent North Sea Crude: DOWN 3.1 percent at $64.05 per barrel
Tokyo – Nikkei 225: DOWN 1.0 percent at 37,755.51 (close)
Hong Kong – Hang Seng Index: DOWN 0.8 percent at 23,453.16 (close)
Shanghai – Composite: DOWN 0.7 percent at 3,380.82 (close)
London – FTSE 100: DOWN 0.5 percent at 8,541.97
Euro/dollar: UP at $1.1195 from $1.1178 on Wednesday
Pound/dollar: UP at $1.3274 from $1.3268
Dollar/yen: DOWN at 145.87 yen from 146.65 yen
Euro/pound: UP at 84.33 pence from 84.21 pence
New York – Dow: DOWN 0.2 percent at 42,051.06 (close)
South African President Cyril Ramaphosa will meet US counterpart Donald Trump in Washington next week at a time of strained ties between the two countries, Pretoria said in a statement released late on Wednesday.
Tensions have been rising for months over a range of policy issues, culminating this week in the United States resettling a first group of white Afrikaners that Trump claims are facing “persecution” in South Africa.
“On Wednesday, 21 May 2025, President Ramaphosa will meet with President Donald Trump at the White House in Washington DC to discuss bilateral, regional and global issues of interest,” Ramaphosa’s office said.
The visit “provides a platform to reset the strategic relationship between the two countries”, it said.
The US administration has torn into various South African policies, including its case against Israel at the International Court of Justice and a land expropriation law meant to redress historical inequalities that Washington alleges will allow the government to seize white-owned land.
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Trump essentially halted refugee arrivals after taking office but is making an exception for the Afrikaners — mainly descendants of Dutch settlers to South Africa — despite Pretoria’s insistence that they do not face persecution in their homeland.
White South Africans, who make up 7.3 percent of the population, generally enjoy a higher standard of living than the black majority of the country.
Washington cut aid to South Africa and in March expulsed Pretoria’s ambassador, Ebrahim Rasool, after he criticised Trump’s Make America Great Again (MAGA) movement in an online seminar.
Pretoria has said Trump’s claims are “entirely politically motivated and designed to question South Africa’s constitutional democracy”.
Following the arrival of a first group of 49 Afrikaners in the US on Monday, South Africa’s Deputy President Paul Mashatile said Trump had been “lied to”.
“There’s no genocide here. We are beautiful, happy people, black and white working and living together,” he told journalists, adding that Ramaphosa would “invite President Trump” to visit “our beautiful country”.
Trade discussions should also be expected from Ramaphosa’s “working visit” to the US, which will last from Monday to Thursday.
The US is South Africa’s second-biggest trade partner but Trump’s announcement of sweeping tariffs in April — now paused for 90 days — has ignited fears for key sectors, including the automobile industry and citrus production.
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, on Thursday received executive directors from Sahara Group at the NNPC Towers in Abuja, as both organisations explored potential areas of collaboration aimed at driving energy access and sustainability.
The Sahara Group delegation included Moroti Adedoyin-Adeyinka, Kola Adesina, Tope Shonubi and Wale Ajibade, who paid the courtesy visit as part of ongoing engagements with key industry stakeholders.
Discussions at the meeting covered a wide spectrum of energy concerns — from oil and gas to data and infrastructure — with a shared focus on how transparent, impact-driven partnerships can accelerate the drive towards a more sustainable energy future for Nigeria and beyond.
Ojulari, who reiterated NNPCL’s mandate to transform into a global energy powerhouse, emphasised the importance of collaboration, innovation, and value creation across the sector.
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In response, Sahara Group executives reaffirmed their organisation’s commitment to supporting the transformation of Nigeria’s energy landscape.
They highlighted Sahara’s position as a leading energy conglomerate with operations across Africa, Asia, Europe, and the Middle East.
The Zamfara State House of Assembly has passed a vote of confidence on Governor Dauda Lawal in recognition of his remarkable achievements in health, education, infrastructure, and the payment of outstanding entitlements to civil servants.
The House Leader, Hon. Bello Mazawaje, while moving the motion noted that, for the first time in Zamfara’s history, the state capital is experiencing rapid development, including the ongoing construction of an international airport.
Mazawaje further stated that even critics and opposition parties have come to acknowledge the governor’s developmental strides.
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The motion to pass the vote of confidence was supported by several lawmakers, including Hon. Yakubu Almajir (Bungudu East), Deputy Speaker Hon. Adamu Aliyu (Gummi II), Hon. Rilwanu Marafa (Anka), and Hon. Ibrahim Garba Liman (Gusau II), among others.
The lawmakers applauded the renovation and upgrade of general hospitals across the state, aimed at improving and making healthcare more accessible and affordable for all citizens.
They also highlighted the unprecedented growth in the education sector, which was achieved with the full support and approval of the Assembly.
The house further noted that many youths in Zamfara are now engaged in formal mining activities, creating employment opportunities and contributing to poverty reduction.
According to the legislators, Governor Dauda Lawal has restored the lost glory of the state across all sectors.
They urged the people of Zamfara to continue supporting the government in its quest to deliver the dividends of democracy to all, regardless of political affiliation.
Real Madrid defender Raul Asencio has been indicted along with three former youth players at the club, for alleged distribution of a sexual video involving a minor, according to Spanish reports on Wednesday.
The judge at a Gran Canaria court is prosecuting “four footballers” for their alleged involvement in “the recording or non-consensual dissemination of videos of a sexual nature involving a minor and another young girl”, aged 16 and 18 respectively at the time, read a court document seen by AFP.
The judge did not mention Asencio by name, nor specify which player is accused of which misdemeanour.
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The players are accused of “disclosure of secrets without consent, and violation of privacy, distributing and sending videos to third parties without consent, capturing and using minors for pornographic purposes and possession of child pornography”.
In September 2023, three unnamed players were arrested at Real Madrid’s training centre following a complaint lodged by the mother of the 16-year-old girl who appears in the video.
At the time, Spanish media reported that the main suspect, whose identity is unknown, had recorded a consensual sexual encounter with the young girl before sending the video to the other players without her consent.
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Asencio, 22, has established himself as a first-team regular in his breakthrough season at Madrid.
Fans at various stadiums around Spain have jeered Asencio, with some Barcelona fans chanting “Asencio, to jail” during the Clasico on Sunday.
Real Madrid’s Copa del Rey semi-final win at Real Sociedad in February was briefly paused by the referee after home fans chanted “Asencio die”.