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Oil prices drop and stock markets rise after reports of deal to end Iran war

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Oil prices have dropped and global stock markets have risen following reports that the US and Iran are close to a deal to end the war.

Brent crude futures, the global benchmark oil price, fell to $97 (£73) a barrel after the reports before rebounding to over $101. The price was over $108 earlier in the day.

The FTSE 100 index of London’s largest public firms and Germany’s Dax index closed over 2% up while the French Cac 40 was up 3%. Asian indexes also ended the day higher while the US S&P 500 was up by more than 1% over the day.

The market movements come after Axios reported that the US believes it is close to a one-page document which will end the war and set up detailed nuclear talks.

Hours later, an Iranian foreign ministry spokesperson told Iranian Students’ News Agency that the US proposal to end the war with Iran was still being considered.

However, not long after that, Trump suggested a deal could still be a way off.

He said on Truth Social that any agreement by the Iranians is “a big assumption” and that a failure to come to a deal will result at bombardments “at a much  higher level and intensity ” than was the case during Operation Epic Fury.

Oil prices are still much higher than the $70 a barrel they were hovering around before the start of the US-Israel war with Iran, which has caused caused production and transportation of oil in the region to slump.

Central to the conflict is Iran’s threat to attack oil ships crossing the Strait of Hormuz, a narrow waterway south of the country, in response to US-Israeli strikes since 28 February.

About a fifth of global oil and gas shipments usually cross the strait, which has been effectively closed for weeks. Global gas prices have also soared since the conflict began.

As for stock markets, the big European bourses are lower than they were at the end of February, while the S&P 500 climbed by more than 1%.

The main Asian markets all rose on Wednesday, with the South Korean Kospi closing up 6.45%, the Hong Kong Hang Seng ending the day up 1.22%, and the Japanese Nikkei finishing 0.38% higher.

The Hang Seng is down since the start of war, but the other two are up.

[BBC]



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UAE keep semi-final hopes alive after convincing win over Indonesia

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Five different UAE bowlers took wickets on Friday evening (Asian Cricket Council)

A complete performance from UAE’s bowling unit kept their semi-final hopes alive at the 2026 Women’s T20 Asia Cup,  skittling Indonesia  for 73 and then completing the chase with six wickets to spare. They now have to beat Bangladesh on September 8 and also hope other results go their way.

UAE were on top right from the first ball courtesy offspinner Suraksha Kotte,  who starred with 3 for 16. Kotte struck with the first two balls of the innings, dismissing Indonesia opener Maria Corazon and No. 3 Ni Luh Dewi for first-ball ducks. UAE captain Esha Oza (2 for 11) then dismissed the other opener Rahmawati Pangestuti in the fourth over.

Indonesia captainN8 Puu Ayu Nanda Sakarini  top-scored with a lone hand of 39 off 52 balls, with four fours and a six, accounting for 53.4% of Indonesia’s runs. But with little support, they could not find a way back in and were bowled out for 73.

Slow left-arm spinner Heena Hotchandani (2 for 6) and seamer Samaira Dharnidharka (1 for 12) also got among the wickets. Legspinner Vaishnave Mahesh struck twice in the 20th over to clean up the tail.

UAE openers Theertha Satish and Oza put on 17 for the first wicket. After losing Theertha in the fifth over, Oza hit two boundaries in each of the sixth and eighth overs. No. 3 Rinitha Rajith then hit three fours off Sofia Velic in the ninth over.

A brief wobble followed for UAE as they slid from 62 for 1 to 68 for 4. Oza fell for a 29-ball 30 at the start of the 11th over to Ni Ariani and Velic grabbed two wickets in the 12th. However, with only six runs needed, UAE wrapped up the chase at the start of the 14th over, the tournament hosts securing two points with 41 balls to spare. This was also Indonesia’s final match of the campaign, bowing out with losses in all three games.

Scores:

UAE Women 75 for 4 8n 13.1 overs  (Esha Oza 30, Rinitha Rajith 22; Ni Riani 1-10, Sang Maypriani 1-17,  Sofia Velic 2-25) beat IndonesiaWomen  73 in 19.4 overs (N8 Putu Ayu  Nanda Sakarini 39, Desi Wulandari 12; Suraksha  Kotte 3-16, Heena  Hotchandani 2-06, Esha  Oza 2-11, Samira Dharnidarkha 1-12 ) by six wickets

(Cricinfo)

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Sun directly overhead Moratuwa, Kesbewa, Handapangoda, Idalgashinna, Yudhaganawa, Kotiyagala and Panama about 12.08 noon today (05)

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The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.

The nearest places of Sri Lanka over which the sun is
overhead today (05) are Moratuwa, Kesbewa, Handapangoda, Idalgashinna, Yudhaganawa, Kotiyagala and Panama about 12.08 noon

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Kusal Mendis, Binura Fernando ruled out of T20I series in England

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Kusal Mendis hasn't played competitively since July 19 (Cricinfo)

Kusal Mendis and Binura Fernando have been ruled out of Sri Lanka’s upcoming T20I series against England,  with the SLC saying that the two were “still undergoing rehabilitation” after injuries picked up at the 2026 Lanka Premier League.

The update came just over a day after the two were named in the 16-member squad, with Kusal retained as captain of both the T20I and the ODI sides.Charith Asalanka, who had returned to the vice-captain’s position for the series, will now lead the side in the T20Is. Though Kusal hasn’t been ruled out of the ODIs just yet, were he to miss out, Asalanka, as the designated vice-captain, might step in there too.

Kusal has been out of action since July 19 with a right hamstring injury, while Binura hasn’t played since August 5, SLC putting his absence down to a back injury.

Pavan Rathnayake, the 24-year-old top-order batter, has replaced Kusal in the T20I touring party, while Dilshan Madushanka, the fast bowler who was in the squad for the Tests against India recently but didn’t get to play, has come in for Binura.

Asalanka returned to the leadership group three months after being deposed as ODI captain and six months after being sidelined from the T20I unit. He last played a T20I in February this year, but is currently part of St Lucia Kings’ line-up at CPL 2026. His returns have been mediocre, though: 93 runs at a strike rate of 124 from six innings.
The T20Is will be played on September 15 (Southampton), September 17 (Cardiff) and September 19 (Manchester), while the ODIs will take place on September 22 (Chester-le-Street), September 24 (Leeds) and September 27 (The Oval).
Sri Lanka T20I squad for the tour of England
Pathum Nissanka, Kamil Mishara (wk), Lahiru Udara (wk), Kamindu Mendis, Charith Asalanka (capt), Janith Liyanage, Pavan Rathnayake, Dasun Shanaka, Dunith Wellalage, Wanindu Hasaranga, Maheesh Theekshana, Tharindu Rathnayake, Dushmantha Chameera, Eshan Malinga, Nuwan Thushara, Dilshan Madushanka

(Cricinfo)

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