Sonja Hutson

Check back next week for the latest business news.

The FT News Briefing was produced this week by Mark Filippino, Fiona Simon, Katya Kumkova, Victoria Craig, and me, Sonia Hudson.

Our show is mixed by Alex Higgins and Sam Giovinko.

We had help this week from Peter Barber, David DaSilva, and Gavin Kalman.

Our executive producer is Topher Forges, and our theme song is by Metaphor Music.

Good morning from the Financial Times.

Today is Thursday, May 28th, and this is your FT News Briefing.

Oil prices continued their rollercoaster ride yesterday, and Ukraine's drone production could be turning the tides of the war.

Plus, consulting startups are launching a formidable challenge to the big four, all thanks to AI.

I'm Sonia Hudson, and here's the news you need to start your day.

Oil traders think the U.S.

and Iran are getting closer to a deal.

Yesterday, Iranian state TV broadcast details of a proposal to extend Tehran's ceasefire with the U.S.

and reopen the Strait of Hormuz.

Brent crude fell as much as 5% yesterday.

The proposal included a commitment to restore shipping to pre-war levels within a month and an American promise to lift a naval blockade on Iranian ports.

The White House, however, called the report a, quote, complete fabrication.

The tides could be turning in the war in Ukraine.

Russia adopted a law yesterday that allows the central bank and other financial institutions to shoot down drones.

Now, this comes after Ukraine has stepped up its strikes thanks to a surge in domestic drone production.