Axios

President Trump's envoys Steve Witkoff and Jared Kushner will travel this weekend to Moscow and Kyiv for talks on ending the war, U.S. officials said.

Why it matters: This will be the first visit by Witkoff and Kushner to Kyiv since President Trump returned to office.

The Trump administration is working on a post-war strategy focused on a regional effort to contain Iran and expand normalization of relations between Israel and its neighbors, according to two U.S. officials and two other sources with knowledge of the issue.

Why it matters: While the plan is still in the early stages of drafting, it's intended to guide the U.S. approach in the Middle East after the Iran war ends and in the final two years of President Trump's term. Two big events loom over the planning: the Oct. 27 election in Israel and the U.S. midterm elections in November.

The White House is at odds with some private sector analysts over how much oil is leaving the Strait of Hormuz — but it will take weeks until the picture of what's truly getting through becomes clear.

Why it matters: How much oil exits the waterway sways the price of gasoline and other consumer products.

The Dutch central bank said this week that it was shifting about 86 tonnes of gold bars out of New York and Canada and moving them closer to home.

Why it matters: Countries are rethinking where they stash their gold reserves, as relations with the United States have frayed and geopolitical unrest has risen.

• The move comes at a time when the status of the U.S. at the center of the world financial system is in question.
• Foreign governments also now hold a much lower share of U.S. Treasury bonds.

U.S. Central Command (CENTCOM) is conducting an internal review of a civilian casualty incident at a wedding during the strikes in Iran on Tuesday, U.S. officials say.

Why it matters: While it still hasn't been confirmed that the incident was caused by the U.S. strike, it is one of the more significant civilian casualty incidents since the war began six months ago.

The price of wheat is soaring — trading at levels last reached in early 2023, when markets were climbing down from the price shock of Russia's invasion of Ukraine.

Why it matters: Escalating tensions in the war are again pushing up prices for this critical grain.

Oil prices are heading back toward $100 a barrel, and, perhaps more crucially, the price of diesel fuel futures is now sitting at an all-time high. 

Why it matters: Investors are starting to recognize that higher oil prices from the Iran war aren't something they can continue to ignore.

People 65 and older now outnumber children ages 5 and younger worldwide for the first time in recorded history, according to a new report by the U.S. Census.

Why it matters: A global plunge in fertility — demographers' term for the number of children being born — and increased longevity are creating a demographic inversion that's projected to deepen for decades.

• It's a trend that's shifting the historic balance between working-age people and older adults.

White House Envoy Steve Witkoff met last weekend with the national security adviser of the United Arab Emirates to discuss next steps on Iran, according to two sources with knowledge of the meeting.

Why it matters: The talks, which weren't announced by the White House and haven't been reported until now, took place amid the Trump administration's push to reopen the Strait of Hormuz while choking Iran economically. Witkoff met with Sheikh Tahnoon Bin Zayed al Nahyan (TBZ) on the Mediterranean island of Sardinia.

Israel will build Greece a missile-and-drone defense network similar to its own.

Why it matters: The arrangement, dubbed Achilles Shield, is valued at around €3 billion, or almost $3.5 billion. It's billed as the largest defense export in the history of Israel-Greece relations.