Our daily trip around the world

🇷🇺 WSJ reporter Evan Gershkovich will soon stand trial in Russia. Gershkovich was arrested in March 2023 over allegations of stealing state secrets for the US government, which he, US officials, and the WSJ have repeatedly denied. Yesterday, Russian authorities said they finalized Gershkovich’s indictment and filed his case in court, though they didn’t specify when his trial would begin. Gershkovich is the first US journalist to be arrested on espionage charges in Russia since the Cold War.

🌀 El Niño is officially over, with La Niña likely on the horizon. Yesterday’s declaration by the NOAA marks the end of what had been a potent El Niño, aka the cyclical weather phenomenon which boosts global temperatures. Federal forecasters now predict a 65% chance of a La Niña weather event beginning over the summer months, which would bring cooler global ocean temperatures and increase the risk of an especially active Atlantic hurricane season through November.

🛢️ Global demand for oil will peak in 2029, per new IEA forecasts. In its latest oil market outlook, the International Energy Agency warned that falling demand for oil will soon cause production capacity to outstrip demand, leading to significantly lower global oil prices. However, some analysts disagree with the IEA’s outlook, saying peak oil demand will likely occur much further into the future due to growing energy needs in developing countries, uncertainties around EV growth, and questions about government climate policies.