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Oil prices dropped approximately 5% following reports that Iran indicated it would suspend attacks while a U.S. pause in hostilities continues. The development eased concerns about supply disruptions in the Middle East, leading to a significant decline in crude markets.

SpaceX conducted a test flight of its Starship rocket, marking the first launch since the company went public last month. The massive spacecraft represents the latest development in Elon Musk's space exploration venture.

President Trump faces legal challenges following implementation of new tariffs, including 25% duties on Brazilian goods and announced 50% levies on Canadian imports. Legal experts express doubts about whether these trade measures will withstand judicial scrutiny.

Yemen's Houthi forces reported launching drone and missile attacks on two Saudi Arabian oil tankers in the Red Sea, alleging the vessels violated a maritime blockade. The strikes represent an escalation in regional tensions involving Iranian-backed groups and Gulf states, with potential implications for energy shipping routes and oil markets.

Skyroot, an Indian startup, has successfully launched a rocket capable of placing satellites into low Earth orbit, making India the third country after the United States and China to achieve this milestone through a private company. This development positions India as a significant player in the commercial space launch industry.