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Good morning from the Financial Times.
Today is Thursday, May 28th.
And this is your FT News Briefing.
Oil prices continued their roller coaster 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.