The United States’ Strategic Petroleum Reserve (SPR) is rapidly depleting as President Donald Trump releases oil at a faster pace ahead of the midterm elections. The reserve, located in underground caverns in Texas and Louisiana, now holds crude oil volumes close to the lowest levels since the early 1980s, when the US economy and energy consumption were significantly smaller. The accelerated drawdown follows Trump’s earlier criticism of President Joe Biden for selling oil from the SPR during the 2022 campaign period to keep gasoline prices low.

Energy intelligence firm Kpler’s chief oil analyst Matt Smith said the barrels released from the reserve will eventually need to be replaced, which could push prices higher. The shrinking stockpile highlights the challenge US officials will face in refilling the reserve, potentially sustaining both demand and prices in the energy market.

The SPR, the world’s largest emergency crude oil reserve, has historically been used by both Republican and Democratic presidents to stabilize supply disruptions caused by wars, hurricanes, or other crises.

Industry, Commerce, and Textiles Minister Khandaker Abdul Muktadir made an unannounced visit to the Aminbazar leather sales center in Dhaka on Thursday, May 28, 2026. The inspection aimed to observe whether the collection, preservation, and marketing of sacrificial animal hides were being conducted properly. Commerce Ministry Secretary Md. Abdur Rahim Khan accompanied the minister during the visit.

During the inspection, the minister spoke with rawhide buyers, sellers, commission agents, and traders to learn about market conditions, pricing, storage systems, and overall operations. He emphasized that the government is giving top priority to ensuring proper management of hides during the Eid-ul-Azha season, describing the leather industry as a vital sector of the national economy. He urged all stakeholders to act responsibly.

Muktadir further stated that the government remains vigilant to prevent mismanagement, syndication, or wastage of hides and that regular field-level monitoring will continue.

Seasonal leather traders in Chattogram have again suffered major losses after buying sacrificial animal hides during Eid-ul-Azha. They purchased hides from neighborhoods for 400–450 taka per piece but were forced to sell them to wholesalers at Aturar Depot and Choumuhani markets for as low as 150–250 taka. Traders alleged that wholesalers ignored government-fixed prices and formed syndicates to buy hides at nominal rates. Many traders waited for hours without buyers and eventually sold at a loss to prevent spoilage.

Wholesalers denied the syndicate allegations, saying that processing and salting each hide costs around 450 taka, which must be deducted from the government rate. They claimed seasonal traders overpaid during collection, leading to their losses. The same problem occurred last year when unsold hides were left on streets. To prevent waste this year, two voluntary groups—Islami Samaj Kalyan Parishad and Gausia Committee—have started salting and preserving collected hides, targeting 30,000 and 100,000 pieces respectively.

Despite official promises of market monitoring, traders reported no visible administrative oversight, leaving them vulnerable to unfair pricing and financial losses.

Seasonal leather traders in Bogura are facing a severe crisis as the local market experiences a sharp decline in demand. Goat hides are reportedly being discarded in dustbins due to a lack of buyers. Traders said they are unable to sell their collected hides at reasonable prices, with cowhides fetching only Tk 200–600 after being purchased for Tk 500–800 in rural areas. Goat hides are selling for as little as Tk 5–20, far below the purchase price of Tk 30–60.

According to traders, the crisis has deepened because tannery owners in Dhaka owe them large sums of unpaid dues, leaving their capital tied up. Rising salt prices and higher preservation costs have further worsened the situation. Many traders fear losing their investment as transportation and labor costs exceed their sales revenue.

Buyers attribute the slump to poor-quality hides caused by lumpy skin disease in livestock. They said only high-quality hides are being purchased at government-fixed rates, while low-quality hides have little to no demand. Traders and wholesalers warned that if dues remain unpaid and the market does not stabilize soon, the leather trade could face an even greater crisis ahead.

Member of Parliament Aslam Chowdhury has announced a Tk 1,700 crore mega development project in Sitakunda, Chattogram. The announcement was made at the central Eid-ul-Azha congregation held at the municipal ground. According to Chowdhury, the project will be implemented through international private funding amounting to approximately 130 million US dollars.

The master plan includes the construction of a modern central model mosque in the municipal area at a cost of Tk 300–500 crore. The mosque will serve as a center for prayer, Islamic education, research, library services, and cultural and social activities. Additionally, nine modern regional mosques will be built across nine unions, each costing Tk 30–50 crore, along with two new mosques in the Pahartali and Colonel Hat wards. Old and incomplete mosques in rural areas will receive Tk 50 lakh to 1 crore each for renovation.

The plan also emphasizes public health and civic amenities, including a modern walkway around the historic Laldighi pond and initiatives to develop Sitakunda into a modern tourist city by upgrading natural attractions such as Chandranath Hill, Guliakhali Beach, and Banshbaria coast.

Global oil prices increased again following reports of a new US airstrike on an Iranian military base. During Thursday morning trading, prices rose by nearly 2 percent. Brent crude futures climbed by 1.90 dollars, or 2.02 percent, reaching 96.19 dollars per barrel. Meanwhile, US West Texas Intermediate (WTI) crude futures rose by 1.73 dollars, or 1.95 percent, to 90.41 dollars per barrel.

Analysts attributed the price surge to growing uncertainty in the Middle East, as hopes for a potential agreement between the United States and Iran diminished after the latest strike. The ongoing tension around the Strait of Hormuz and broader regional instability have added to market volatility and contributed to the upward pressure on oil prices.

The situation underscores the sensitivity of global energy markets to geopolitical developments in the Middle East, with traders closely monitoring further actions that could affect supply routes and diplomatic relations.

The birth rate in the United Kingdom has fallen to its lowest level in half a century, according to the latest data from the Office for National Statistics (ONS). In 2025, England and Wales recorded 585,396 live births, down from 594,677 the previous year, marking the lowest rate since 1976 and the fourth lowest in the past 100 years. Meanwhile, births to families with at least one foreign-born parent reached a record high, accounting for about 40 percent of all births.

The ONS report shows that in more than a dozen areas of England and Wales, over 75 percent of babies were born to families with at least one foreign-born parent. London’s Brent recorded the highest rate at about 84 percent, followed by the City of London and Harrow. Among foreign-born mothers, those of Indian origin represented the largest group, making up 4.7 percent of all births, while Indian fathers accounted for 4.9 percent.

Analysts cited rising living costs, high rents and mortgages, and childcare expenses as key reasons couples are delaying parenthood. The average age of mothers rose to 31.1 years and fathers to 34 years in 2025, continuing a long-term trend toward later parenthood.

On May 6, 2026, the Bharatiya Janata Party (BJP) came to power in West Bengal for the first time, prompting Chief Minister Suvendu Adhikari to order strict enforcement of a 1950 law regulating cattle slaughter. The directive requires official certification and restricts slaughter to designated facilities for animals over 14 years old. As Eid al-Adha approaches, the Dhulagorh cattle market near Kolkata stands nearly deserted, with traders reporting heavy losses and fear of administrative action.

The crackdown has severely affected the state’s beef trade. Muslim butchers, restaurant owners, and street vendors have shut down operations, while beef prices have fallen sharply. Kolkata’s “The Burger Shop” suspended its popular beef burger after suppliers were forced to close. Longtime meat sellers report collapsing demand and early shop closures. Traders who borrowed heavily for the festival now face financial ruin.

BJP spokesperson Debjit Sarkar defended the move as lawful enforcement, while legal expert Jaysingh Nugggehalli said such bans are tied more to identity and livelihood politics than animal welfare. Activist Harsh Mander described the developments as part of a broader ideological project marginalizing Muslims in India.

Bangladesh is in talks with the International Monetary Fund (IMF) for an emergency financial assistance package to address economic disruptions caused by the United States and Israel’s attacks on Iran. According to AFP, the request follows rising global oil prices linked to the conflict. In March, Dhaka officials said the country was seeking about 2 billion US dollars from global lenders to manage risks stemming from the Iran war.

IMF representative Ivo Krznar stated that discussions are underway regarding Bangladesh’s reform agenda and policy priorities. The requested support would come through the Rapid Financing Instrument (RFI), a mechanism that provides quick, low-conditionality funding to member states facing crises such as wars, pandemics, or commodity price shocks. Bangladesh previously received 732 million dollars from the IMF during the COVID-19 pandemic, including 244 million under the RFI.

Bangladesh’s ongoing 5.5 billion dollar IMF loan program began in January 2023 and was expanded in June 2025. The country has so far received 3.64 billion dollars in five tranches, with the sixth installment of 1.3 billion still pending.

Garment workers from Chaiti Garments in Tipordi area of Sonargaon, Narayanganj, blocked the Dhaka-Chattogram highway on Tuesday afternoon demanding payment of due wages and Eid bonuses. The protest caused severe traffic congestion stretching about 17 kilometers from Tipordi to Meghna Toll Plaza. Police intervened to disperse the demonstrators, leading to clashes in which tear gas and rubber bullets were used to regain control of the situation.

According to police officials, the workers began the blockade after the factory management reportedly expressed inability to pay full salaries. The workers insisted that their April arrears and May salaries be cleared before Eid. Officers from Kanchpur Highway Police and Sonargaon Police Station confirmed that several rounds of tear gas were fired but no live ammunition was used. The situation was later brought under control and the road reopened to traffic.

The incident highlights ongoing tensions in the garment sector over timely wage payments, particularly ahead of major religious holidays when financial pressures on workers increase.

Garment workers from Chaiti Garments in Tipordi area of Sonargaon, Narayanganj, blocked the Dhaka-Chattogram highway on Tuesday afternoon demanding payment of wages and bonuses. The protest led to severe traffic congestion stretching about 17 kilometers from Tipordi to Meghna Toll Plaza. Police attempted to disperse the demonstrators, resulting in clashes where tear gas and rubber bullets were used to bring the situation under control.

According to reports, the workers began their protest after the factory management expressed inability to pay full wages, including arrears for April and salaries for May before Eid. Police officials stated that the workers were later persuaded to leave the highway, and the situation was brought under control after several rounds of tear gas were fired.

The incident disrupted traffic on one of the country’s busiest highways and highlighted ongoing tensions over wage payments in the garment sector ahead of major holidays.

On May 26, 2026, cattle markets across Dhaka saw brisk trading despite continuous rain and severe waterlogging ahead of Eid-ul-Azha. From morning showers to afternoon downpours, buyers and sellers continued flocking to major markets including Gabtoli, Shahjahanpur, Diabari, Aftabnagar, Meradia, and Rahmatganj. Many areas were submerged, with knee-deep mud and standing water making movement difficult, yet trading persisted late into the night.

The previous day’s 57 millimeters of rainfall had already caused major traffic disruptions and flooding in key city areas. Persistent rain over two days worsened conditions for both commuters and traders. Buyers reported higher cattle prices and discomfort due to muddy grounds, while sellers noted that feed costs had pushed prices up compared to last year. Authorities said measures were being taken to manage the situation, with the state minister for local government visiting Gabtoli market to ensure a safer environment.

Traders expect sales to peak on the eve of Eid, though concerns remain that continued rain or the arrival of Indian cattle could affect final prices and profits.

Heavy rain has turned Dhaka’s cattle markets into muddy, waterlogged grounds, causing severe hardship for both buyers and sellers ahead of the Eid-ul-Azha sacrifice. On Tuesday, at the Diabari market in Uttara, traders and farmers were seen struggling as cattle stood in knee-deep water and mud. Many animals appeared exhausted or ill from prolonged exposure to rain, while traders expressed frustration over the lack of drainage and poor preparation by market authorities.

Traders from Kushtia, Jamalpur, Faridpur, and Natore voiced anger at the market’s mismanagement, saying the leaseholders failed to ensure proper water removal despite collecting high fees. Some reported financial losses due to sick cattle and reduced buyer turnout. Buyers, however, continued to visit the markets under umbrellas, noting that prices were lower than usual as sellers were forced to compromise. Despite the discomfort, some customers expressed satisfaction after securing cattle within their budgets.

Repeated attempts to contact the Diabari market leaseholder, SF Corporation owner Sheikh Farid Hossain, went unanswered, leaving questions about accountability for the poor conditions.

Livestock and Agriculture Minister Mohammad Aminur Rashid stated that no major complaints of extortion, insecurity, or mismanagement have been received so far. He said the administration remains on high alert. To prevent counterfeit currency risks during Eid-ul-Azha, counterfeit detection systems have been installed at various cattle markets to ensure safe transactions for both buyers and sellers. The minister made these remarks on Tuesday after inspecting the Neura cattle market in Cumilla Sadar Dakshin upazila.

He highlighted that the Eid-ul-Azha season provides one of the largest income opportunities for marginal farmers and livestock breeders. Through rearing and selling sacrificial animals, millions of families benefit financially, and the sector is gradually evolving into an industry-based economic activity. The government is implementing various support and training programs to enhance farmers’ capacity and expand livestock production.

The minister added that coordinated monitoring is underway across markets involving the administration, law enforcement, and the livestock department. Veterinary teams are deployed to ensure animal health services, while cleanliness and safety measures are being maintained. Field-level supervision will continue until Eid to ensure smooth trading.

Bus fares on the Dhaka-Tangail highway have reportedly doubled at the Chandra Trimor area of Kaliakoir upazila in Gazipur, prompting many homebound passengers to travel in open trucks instead. Local sources said vehicles operate from the Chandra bus stand to 27 northern routes, but a fare hike allegedly driven by a local syndicate has forced passengers to seek cheaper alternatives.

A passenger bound for Birganj said his regular fare of Tk 700 had risen to Tk 1,600, leading him to choose truck transport. A supervisor from Badsha Paribahan claimed higher operational costs at the stand made fare increases unavoidable. However, Dewan Jasim Uddin, joint general secretary of the Gazipur District Road Transport Workers Union, denied the existence of any syndicate and said they were monitoring to prevent passengers from boarding trucks, though some still managed to do so.

Naojor Highway Police Station officer-in-charge Saugatul Alam stated that authorities were monitoring to ensure no one charged excessive fares and would take action if complaints were filed.