“The world’s biggest superconducting magnet for a nuclear fusion reactor has passed final tests as part of China’s CRAFT ‘artificial sun’ project, eclipsing international performance benchmarks. The assembly comprises two coils: a toroidal-field magnet that acts as a magnetic cage, and a central solenoid that serves as the igniter. The results, achieved by researchers with the Institute of Plasma Physics, Chinese Academy of Sciences, clear a major engineering hurdle on the path to confining a plasma hotter than the sun’s core, state news agency Xinhua reported on Saturday. The project – the Comprehensive Research Facility for Fusion Technology – aims to create a miniature sun at over 100 million degrees Celsius (over 180 million Fahrenheit) and trap it inside a doughnut-shaped metal cage to generate electricity.” (06/28/26)
“Iran’s armed forces struck a container ship that was passing through the Strait of Hormuz on Thursday, according to U.S. and Iranian officials, undermining efforts to restore shipping traffic through the crucial waterway. The attack came hours after Iran, demonstrating its control over the strait, had warned ships that the only route through the vital pathway for oil and natural gas was through its waters. Many ships had been using a route on the southern side of the strait, hugging the Omani coast.
The strike halted traffic through the crucial waterway, contradicting President Trump’s claim that Iran did not control the strait and his assurances that it was open once again to shipping. Oil prices jumped after the attack, with the price of Brent crude, the global benchmark for oil, rising over 2 percent to about $75 a barrel.” (06/25/26)
“Roughly $10.63 billion in Bitcoin (BTC) and Ethereum (ETH) options expire on Deribit Friday. The settlement drops into a market that keeps sliding lower while traders hunt for a floor. Bitcoin trades near $60,200 after a 2% daily drop, while ether sits around $1,580 after a steeper 4.43% fall. Both rest far below their options max pain levels. Friday’s settlement ranks as the quarter’s largest options event on Deribit. The bulk of expiring value sits in Bitcoin, with notional contracts worth about $9.06 billion against ether’s $1.57 billion. Max pain marks the price where the most options expire worthless.” (06/26/26)
“The US supreme court has found in favor of the former Monsanto company in a ruling that is expected to block thousands of lawsuits filed by people alleging the key ingredient in the weed killer Roundup causes cancer. The decision was made in a 7-2 vote, with Justice Brett Kavanaugh offering the majority opinion and justice Ketanji Brown Jackson writing the dissenting opinion, joined by justice Neil Gorsuch. The case, Monsanto v Durnell, specifically dealt with the question of whether a federal law that gives the Environmental Protection Agency (EPA) regulatory authority over pesticides preempts state claims that a company failed to warn users of certain product risks when the EPA itself has not required such warnings.” (06/25/26)
“Ukraine said its drones hit two oil refineries in the Russian city of Ufa, the latest in a wave of strikes on its foe’s energy infrastructure that have led to fuel shortages. The drones operated by the Security Service of Ukraine (SBU) struck the Ufaneftekhim and Bashneft Novoil refineries, Ukrainian president Volodymyr Zelenskiy said in a Telegram statement on Thursday. The attacks caused a fire at the two facilities’ primary processing units, SBU said in a separate statement. The plants in question are owned by Rosneft, Russia’s top oil producer and refiner. … Ukraine’s refinery strikes set a record in May, forcing Russia’s oil-processing rates runs to drop to a 20-year low at the start of June. Damage to the plants, including an attack on a facility in Moscow last week, has triggered panic buying of petrol, driving up pump prices and disrupting supplies across many parts of the country.” (06/25/26)
“Rescue teams are racing to find survivors trapped beneath the rubble of collapsed buildings after two major, back-to-back earthquakes hit Venezuela. The country’s health minister says at least 235 people have been killed and 4,300 others wounded, with most casualties recorded in the northern coastal region of La Guaira. … More than 4,300 people are wounded, with hospitals ‘full of patients,’ according to Venezuela’s Health Minister Carlos Alvarado.” (06/25/26)
“A federal judge has blocked the Trump administration from implementing a new rule that would impose lower federal student loan limits for people pursuing graduate degrees in nursing and other healthcare-related fields. U.S. District Judge Beryl Howell in Washington, D.C., late on Wednesday sided with eight trade organizations including the American Association of Nurse Practitioners and the PA Education Association who sought to block the rule from taking effect on July 1. … That law scaled back a federal loan program for students pursuing graduate degrees, eliminating one type of loan that allowed students to borrow up to the full cost of attendance and imposing new caps on another type of loan.” (06/25/26)
“A far-right Catholic sect’s plan to ordain its own bishops on the first day of July has placed it on a collision course with the Vatican – posing a possible crisis for Pope Leo a little over a year into his papacy, and straining the Roman Catholic church’s already fraught relationship with rightwing and traditionalist Catholics in the US and elsewhere. Founded in Switzerland in 1970 to oppose liberalizing reforms in the Catholic church, the Society of St Pius X (SSPX) has gained significant followings in the US, France, Argentina and other countries. … Under Catholic canon law, ordaining bishops without the Vatican’s authorization is grounds for immediate excommunication. So far, both sides in the game of brinkmanship are refusing to blink. The Guardian contacted the Holy See and the SSPX for comment but neither responded.” (06/25/26)
“The Federal Reserve’s primary price gauge rose at its highest level since 2023, reinforcing the central bank’s recent tough talk on inflation. Excluding food and energy, the personal consumption expenditures price index showed a 3.4% annual rate after rising 0.3% for the month, both in line with Dow Jones consensus. The core reading was the highest since October 2023. … Even with the elevated inflation levels, consumer spending for the month came in stronger than expected.” (06/25/26)
“India and Iran on Thursday discussed strengthening energy cooperation and bilateral trade during a meeting on the sidelines of a BRICS energy ministers’ gathering in New Delhi. Iranian oil ministry news outlet Shana first reported the development after a meeting between the oil ministers of both countries. India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, met with Iran’s Oil Minister Mohsen Paknejad and discussed ways to enhance bilateral cooperation in the oil and gas sector. … Historically, India has been a crucial buyer of Iranian crude oil, but suspended imports in 2019 after Washington reimposed sanctions on Iranian oil exports, Reuters reported. Since then, oil-sector cooperation between the two sides has declined significantly.” (06/25/26)
