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This high-seas confrontation unfolded just hours after Tehran unleashed a heavy salvo of missiles aimed directly at American military installations situated across Kuwait and Bahrain
Brent futures settled up $1.81, or 1.89 per cent, at $97.81 a barrel, while US West Texas Intermediate crude climbed $2.26, or 2.41 per cent, to $96.02
Israel and Lebanon have agreed to renew their fragile ceasefire and create a number of "pilot" security zones inside Lebanon from which Hezbollah militants would be banned. In a joint statement released after a fourth round of US-mediated talks at the State Department, the two sides said the ceasefire "is contingent on a complete cessation of Hezbollah fire and the evacuation of all Hezbollah operatives" from areas south of the Litani River. It was not immediately clear how the security zones would be established but the agreement calls for the Lebanese army to take full control of those areas. "These steps will enable progress towards a comprehensive peace and security agreement," the statement said. "All countries reaffirmed that the future of the relationship between Israel and Lebanon must be decided by the two sovereign governments. They rejected any attempt, by any state or non-state actor, to hold Lebanon's future hostage." The latter is a reference to Iran, which supports
The House approved a war powers resolution that would halt the US military action against Iran, defying President Donald Trump as a handful of Republicans joined with Democrats to end the three-month-long war that has reordered politics at home and abroad. House Speaker Mike Johnson had tried to prevent an outcome that would show the mounting opposition to the war, abruptly shutting down floor action two weeks ago when the war powers resolution was on the verge of approval. But displeasure has only grown as the conflict drags on and as Trump struggles to negotiate a quick resolution. The roll call on Wednesday was 215-208, and cheers erupted in the House chamber. "This reckless and costly war of choice needs to end today," House Democratic Leader Hakeem Jeffries of New York said earlier in the week. "All we need are a handful of Republicans to join us and we can end this reckless and costly war of choice -- a war that has cost the American taxpayer over USD 100 billion -- that's ..
US President also indicated his preference to keep the issue of reopening the strait separate from the continuing conflict in Lebanon, which has seen intensive Israeli strikes in the southern parts
Asked about Khamenei's involvement in talks with the US on ending hostilities, Trump said, "He's involved, absolutely. ...I think they have a lot of respect for him"
Over the past two decades, Iran repeatedly threatened to close down the waterway. President Trump underestimated Iran's ability to do so
The US military said that Iranian missiles fired at Kuwait and Bahrain failed or were shot down, and that the US launched strikes on an Iran facility in response. US Central Command said the strikes were on an Iranian military ground control station on Qeshm Island, near the Strait of Hormuz, that is home to a desalination plant. Iran had fired missiles toward Kuwait and Bahrain, but failed to hit their targets, the US said. The two fired at Kuwait fell apart en route, while US and Bahrain forces intercepted the missiles aimed at Bahrain. The activity happened after Iran stopped communicating with mediators about extending a ceasefire in the war with the US and Israel, according to reports Tuesday from two semiofficial Iranian news agencies. President Donald Trump disputed the claim and said talks were continuing. The reports by the Fars and Tasnim news agencies, both believed to be close to Iran's paramilitary Revolutionary Guard, came as tensions flared in Israel's ...
Oil demand growth is forecast at 78,000 barrels a day, according to Kpler Ltd., which has slashed its pre-war estimate by almost 40%
The latest diplomatic rupture followed days of Israeli military escalation against Hezbollah in Lebanon, prompting a phone call between Trump and Israeli Prime Minister Benjamin Netanyahu
Secretary of State Marco Rubio said that he is optimistic about the potential for a resumption in nuclear talks with Iran despite a shaky ceasefire in the war that is looking increasingly in doubt. Rubio defended the Trump administration's approach to Iran and other global hotspots in back-to-back hearings before the Senate Foreign Relations Committee and a House Appropriations subcommittee. He was briefly disrupted by protesters at each session. In his first public testimony since the Iran war began at the end of February, Rubio said the Iranians have agreed to negotiate on nuclear points that they had not been willing to address in the past but would not offer an assessment on what those talks might produce. "They have agreed to negotiate aspects of their nuclear program that just a month ago, just a year ago, they were refusing to even mention," Rubio told the Senate. He noted, however, that there was no guarantee "it will lead to a deal that's acceptable" and that negotiations .
Brent futures rose $1.05, or 1.09 per cent, at $97.05 a barrel, while US West Texas Intermediate (WTI) crude rose $1.01, or 1.08 per cent, to settle at $94.77
IAEA chief Rafael Grossi revealed during a visit to the United Arab Emirates that several previously active nuclear initiatives in Iran have now ceased
Trump refuted claims that communications between the two nations had broken down, asserting that discussions have been actively maintained over the last several days
As Bahrain activated its emergency protocols, neighbouring Kuwait was already actively engaging incoming aerial threats
Iran stopped communicating with mediators after Israel threatened to bomb Beirut as it continues fighting the Iranian-backed Lebanese militia Hezbollah, two semiofficial Iranian news agencies reported. The reports by the Fars and Tasnim news agencies, both believed to be close to Iran's paramilitary Revolutionary Guard, come as Iran insists the fighting in Lebanon is part of the wider ceasefire talks with the United States over the war. Israel and the US maintain the fighting in Lebanon is separate from the Iran war talks. A regional official involved in the mediation, speaking on condition of anonymity to discuss the talks, said Iran has not communicated at all on Tuesday after saying that a ceasefire needed to be enforced in Lebanon for negotiations to continue.
Trump said on Monday that negotiations with Iran were continuing and there would be a deal over the next week to extend a ceasefire agreed in early April and reopen the Strait of Hormuz
The rupee has tumbled to record lows since the Iran war broke out at the end of February
Brent crude futures inched up 6 cents, or 0.06 per cent, to $95.04 a barrel at 0001 GMT, while US West Texas Intermediate fell 17 cents, or 0.18 per cent, to $91.99 a barrel
US President Donald Trump on Monday said talks were continuing with Iran at a rapid pace, as fresh strikes by Tehran appeared to hit the fragile ceasefire. "Talks are continuing, at a rapid pace, with the Islamic Republic of Iran," Trump said in a post on Truth Social. The nominal ceasefire between Iran and the US has been repeatedly tested with such back-and-forth attacks, even as officials from both countries try to negotiate an end to the war. It's not clear how close they are to a deal and there is always the risk that an attack could derail those talks.