James Wilcock

And Russia has confirmed its military fired a hypersonic Areshnik missile towards Kiev.

The Areshnik missile is capable of carrying a nuclear warhead.

The Areshnik missile is capable of carrying a nuclear warhead and is theoretically able to target most of Europe and the U.S.

West Coast.

It was part of an attack involving approximately 90 missiles and 600 drones.

Ukraine's Air Force said that most of the missiles and drones were shot down, but President Volodymyr Zelenskyy reported that two people were killed and more than 80 were injured.

He called for solutions from the US and Europe.

Those are your top stories on the market.

It's a public holiday in the US and the UK, so cash treasuries, gilts and stocks are not trading.

Brent paired some of its earlier losses and is currently trading just...

above $99 a barrel at 4% down.

Still the lowest in more than two weeks.

That's news when you want it.

I'm James Wilcock and this is Bloomberg.

The US says it's closing in on a deal to reopen the Strait of Hormuz, even as President Trump says he would not rush into any agreement.

US officials say they and Iran are discussing precise language on a draft deal.

Secretary of State Marco Rubio is optimistic.

Rubio also told reporters he thought he may have more news on a deal later today, but says not to read too much into it.

Despite the optimism from US sources, Iran's Tasnim news agency says a deal is far from reality.

Members Kevin Whitelaw says there's concern over how the US and Iran seem to be describing negotiations differently.