Oil exceeds $100 after Houthi attack on Saudi oil tankers

The president of Ecuador, Daniel Noboa, revealed that he held conversations with the elected leaders of Colombia and Peru, Abelardo de la Espriella and Keiko Fujimori. From these dialogues, preliminary agreements emerged on two fronts: border security and energy supply.

In terms of security, Noboa raised the need for a greater military presence of the armed forces of both countries on their respective borders with Ecuador. “Their presence at the border is going to be crucial,” he said in a radio interview. The border area is the focus of activities of drug trafficking groups linked to international cartels. According to the UN, 80% of the narcotics that enter Ecuador come from Colombia and the rest from Peru. The president had previously pressed a tariff war against Colombia, without receiving a response, and recently suspended it following a resolution from the Andean Community.

Regarding energy, Colombia will resume the sale of electricity to Ecuador. Noboa indicated that they will be able to receive up to 380 additional megawatts with a binational rate of about 30 cents per kilowatt/hour. The sale had been suspended by President Gustavo Petro in response to tariffs imposed by Ecuador. Now, with the agreement, the flow resumes. Ecuador faces a dry season that reduces hydroelectric generation – which provides 75% of electricity – and registers a deficit of at least 800 megawatts. At the end of 2024, Ecuadorians suffered blackouts of up to 14 hours a day due to the worst drought in six decades.

With Peru, the agreement consists of the provision of gas to generate electricity more cheaply in Ecuador. “That way we truly work together,” Noboa concluded.

The agreements reflect the political affinity between Noboa, De la Espriella and Fujimori, with a conservative profile, and seek to address two simultaneous crises: insecurity linked to drug trafficking and the energy emergency.

Accident at military base

A Czech Army Venom helicopter, with five soldiers on board, crashed on Thursday. Authorities confirmed one death and four injuries.

The accident occurred around noon at the Námešt nad Oslavou air base, 180 kilometers southeast of Prague. The regional rescue service reported that one person did not survive the impact, while the other four crew members were taken to hospitals.

Following the incident, the Czech army grounded its 12 American-made UH-1Y Venom and AH-1Z Viper helicopters. Authorities are investigating the causes of the accident, although they have not released more details about the incident or the soldiers’ injuries.

The Government of Canada decided to cancel the joint ceremony with the United States for the inauguration of the new Gordie Howe International Bridge, which connects Windsor with Detroit. The measure responds to recent tariff threats from President Donald Trump.

“In light of the trade actions threatened by the United States this week, it would be inappropriate to move forward with a celebratory event between the two countries,” said Jenna Ghassabeh, spokesperson for Canadian Infrastructure Minister Gregor Robertson.

The binational event was scheduled for July 24 with authorities from both countries. However, Ottawa will maintain the opening date to traffic on July 27, with an exclusively Canadian celebration.

Commercial tension and key work

The decision comes after Trump announced 50% tariffs on various Canadian imports, arguing alleged discriminatory treatment of American cars, alcoholic beverages and dairy products.

The Gordie Howe Bridge required an investment of $4.7 billion. It is one of the most relevant infrastructure works in North America and seeks to relieve the flow of the Ambassador Bridge, through which 126 billion dollars in merchandise circulated during 2023.

Despite the suspension of the joint event, the border crossing will begin operating as scheduled.