Executive summary: Wall Street finished higher across major benchmarks, led by a powerful surge in AI and chip shares, with the Nasdaq Composite up +4.8% and the S&P 500 rising +2.9%. The move came alongside gains in Tesla, Nvidia and Apple, while energy, gold and crude also advanced. Financials and some large internet names lagged, showing the rally was broad but not uniform. [Continue Reading]
The United States and Iran have reached a deadlock in negotiations to end the war, with President Donald Trump saying the ceasefire is on "life support".The impasse has raised fresh doubts over when commercial shipping could resume through the Strait of Hormuz.Iran is demanding an end to the US blockade of its ports and the release of frozen assets, while Washington has rejected Tehran's terms.Trump said he was still aiming for "complete victory" and suggested there was no immediate pressure to change course.The dispute has wider economic implications.The head of Saudi oil company Aramco warned the energy crisis could continue... [Continue Reading]
Executive summary: European markets finished mixed, with the DAX and Euro Stoxx 50 posting modest gains while the FTSE 100 and CAC 40 ended lower. The biggest moves were in commodities, where silver, platinum, natural gas and Brent crude surged, helping lift parts of the broader risk complex and supporting auto shares. Currency moves also showed a softer dollar backdrop, with the euro and pound firmer against the US currency. [Continue Reading]
Executive summary: U.S. markets opened sharply higher, led by a powerful rebound in AI and chip stocks, a strong tech bid and gains across several cyclical and commodity-linked areas. The Nasdaq Composite, S&P 500 and Dow Jones all advanced, while energy lagged as crude rose but energy equities fell. The move appears tied to a risk-on tone, firmer oil and metals, and renewed enthusiasm for growth and AI exposure. [Continue Reading]
India has urged citizens to work from home, cut non-essential travel and avoid buying gold as it responds to rising energy costs and pressure on foreign exchange reserves.Prime Minister Narendra Modi appealed to the country's 1.4 billion people to return to work-from-home arrangements and online meetings, use public transport and carpool where possible.He also asked people to refrain from buying gold for weddings.The measures come as India and other Asian economies face a surge in global energy prices linked in the supplied material to the Iran war and disruption to shipping through the Strait of Hormuz.The row says India is... [Continue Reading]
Oil prices rose on Sunday after prospects for a U.S.-Iran peace deal failed to materialise, while stock futures edged lower in response.The move came after the two sides did not reach an agreement, prompting an immediate reaction in markets.The supplied report does not give further details on the talks or the size of the price changes.The market response matters because any shift in U.S.-Iran diplomacy can affect expectations around energy supply and broader investor sentiment.In this case, traders appeared to treat the stalled talks as a fresh geopolitical risk.The incident is being watched closely because oil prices and stock futures... [Continue Reading]
Iran has sent its response to US proposals aimed at ending the war, according to Iranian state media.The reply was delivered through mediators in Pakistan, while no public details have been released about either side's proposals.The development comes as a ceasefire meant to support talks has largely held, despite occasional exchanges of fire.Iran has also continued to restrict the Strait of Hormuz, while the US has enforced a blockade of Iranian ports.The Strait of Hormuz remains central to the dispute because it is a major route for global oil shipments.Any change to access through the waterway could affect energy markets... [Continue Reading]
Gulf states are facing renewed pressure on their efforts to diversify their economies as the Iran war threatens oil revenue.The conflict is also complicating plans to expand growth beyond the energy sector.The supplied material says the war is affecting both current oil income and longer-term economic strategies in the Gulf.No further details were provided on which countries are most affected or how quickly the impact is being felt.The issue matters because several Gulf governments have been trying to reduce reliance on hydrocarbons and build broader economic bases.Any disruption to oil revenue could make that transition harder.The available information does not... [Continue Reading]
The Royal Navy is sending HMS Dragon to the Middle East so the warship can potentially join a future mission to safeguard shipping in the Strait of Hormuz.The Ministry of Defence said the deployment is part of "prudent planning" for what it described as a "strictly defensive and independent" role.HMS Dragon is a Type 45 destroyer and one of the Royal Navy's six ships built for anti-aircraft and anti-missile warfare.The warship has recently been in the eastern Mediterranean as part of UK defensive operations there.The move comes as the Strait of Hormuz remains a live flashpoint for global energy supplies.The... [Continue Reading]
The United States and Iran have traded fresh accusations after US forces struck two ships in the Gulf of Oman, with Iranian officials saying their navy responded and that the clashes have now ceased.US Central Command said an F/A-18 Super Hornet used precision munitions against the vessels yesterday, saying the action was taken to prevent them from continuing to Iran.Iranian officials described the attack as a violation of the ceasefire and accused Washington of hampering diplomatic efforts.The incident comes as a tenuous ceasefire remains under strain across the wider conflict.The UAE said its air defences engaged two ballistic missiles and... [Continue Reading]
Libya's largest operational oil refinery at Zawiya has been shut down after armed clashes and explosions were reported near the site.The National Oil Corporation and Zawiya Refining Company said the halt was a precautionary measure.Employees were evacuated from the oil complex and port, and an emergency was declared.The National Oil Corporation said all staff were safe and that fuel supplies would continue as normal.The company said heavy weapons fire landed in several parts of the complex, while fighting later spread to the residential area next to the refinery.It said the situation had increased the risk of further damage to the... [Continue Reading]
Satellite images have detected an oil slick near Kharg Island in the Persian Gulf, according to the supplied report.The slick was observed off the Iranian island, which is closely associated with the country's oil sector.The report says the images have raised concerns about the condition of Iran's oil infrastructure.No casualties or wider disruption were reported in the supplied material, and no official response was included.The available information is limited to the satellite detection and the concern it has prompted.The incident matters because Kharg Island is a key location for Iran's oil operations, so any sign of leakage or damage there... [Continue Reading]
The Pentagon has released video showing US strikes on two Iranian oil tankers in the Strait of Hormuz.The military says the vessels were disabled after overnight exchanges of fire with Iranian forces.According to the confirmed account, the tankers were stopped before they could reach ports in the Gulf of Oman.The footage was released on Friday, adding visual confirmation to the earlier report of the operation.The incident is significant because the Strait of Hormuz is one of the world's most sensitive shipping routes.Any disruption there can quickly affect maritime traffic and raise tensions around regional security.The latest details confirm that two... [Continue Reading]
Pollution is spreading along Russia's Black Sea coast after repeated Ukrainian strikes on oil infrastructure in Tuapse in April triggered refinery fires and oil spills.The damage has affected areas including the coast near Sochi, with residents reporting "black rain" falling from the sky.The supplied material says smoke and petroleum residue spread across the region after the strikes.It also says the environmental impact has continued for weeks, with beaches still polluted and wildlife still dying.Volunteers trying to respond have reportedly faced obstruction, while the authorities have focused on silencing people speaking out about the scale of the disaster.Officials are also said... [Continue Reading]
Iran's Islamic Revolutionary Guard Corps says it has seized the Barbados-flagged oil tanker Ocean Koi in the Gulf of Oman.State television showed video of forces boarding and detaining the vessel.The IRGC said the ship was taken in a "special operation" after it was accused of trying to disrupt Iranian oil exports and the interests of the Iranian nation.A statement carried by the Fars news agency said the tanker was directed towards Iran's southern coast.Iranian state media said the army would "powerfully defend" the country's interests and assets in its territorial waters.The reported seizure adds to tensions in a waterway that... [Continue Reading]
The mahogany tables of the U.S. State Department are hosting a ghost today. As official delegations from Israel and Lebanon convene for a third round of high-stakes negotiations this Friday, May 8, 2026, the air in Washington is thick with the scent of a "peace" that looks increasingly like a strategic ambush. While the world watches the diplomatic theatre, the reality on the ground in Southern Lebanon tells a story of a predatory recalibration. Prime Minister Netanyahu isn’t just looking for a ceasefire; he is aiming to hit three birds with one single, devastating stone: the annexation of land, the... [Continue Reading]
A Chinese-owned oil tanker has been hit by fire near the Strait of Hormuz, in what is being described as the first known attack on a Chinese oil tanker since the Iran war began.The vessel, JV Innovation, reported a fire on its deck while off the United Arab Emirates coast near Mina Saqr.The Marshall Islands-flagged oil products and chemical tanker remained operational after the incident, with crew still on board.The ship's chief engineer said it was not yet clear who carried out the attack or why.No casualties were reported.The engineer said the bow of the ship was hit and caught... [Continue Reading]
Iran says it has seized an oil tanker listed by the United States as a sanctions violator, in the latest maritime confrontation linked to the Strait of Hormuz.A maritime tracking company said the move was likely performative, noting that the Chinese-owned ship had an "established history within the Iranian trade ecosystem." The seizure adds to already heightened tensions in and around the waterway, which is one of the world's most important routes for oil and liquefied natural gas shipments.Any disruption there can quickly affect shipping and energy markets, making even limited incidents closely watched by governments and traders.The development comes... [Continue Reading]
The United Arab Emirates said its air defences were engaging missile and drone threats from Iran early on Friday, in a further test of the fragile ceasefire between the US and Iran.The latest reported attack came a day after exchanges of fire around the Strait of Hormuz, a key shipping route for global oil and liquefied natural gas flows.Few immediate details were available about the incident in the UAE.US President Donald Trump said three US destroyers transited the strait under fire and were not damaged.He later said the ceasefire was still in effect and played down the exchange.Iran's top joint... [Continue Reading]
Israel's opposition is moving to unite ahead of upcoming elections in an effort to unseat Prime Minister Benjamin Netanyahu.Former prime ministers Naftali Bennett and Yair Lapid are joining forces in the bloc, according to the supplied material.The alliance is being formed as pressure mounts on Netanyahu after months of war and political turmoil.The arrangement is notable because the opposition remains divided on major issues, including the war with Iran and Israel's future direction.Those differences raise questions about whether the bloc can hold together long enough to mount a serious challenge.The development matters because Netanyahu has faced sustained political pressure, and... [Continue Reading]
Officials in Pakistan have said the United States and Iran are close to a temporary agreement aimed at halting the war in the Middle East and keeping shipping lanes open while wider talks continue.The reported interim deal could be reached as early as this weekend, according to the Pakistani officials, who said Tehran was reviewing a US proposal.The claim comes after a near breakdown of the current ceasefire earlier this week.The possible agreement has immediate implications for regional security and global energy markets.A partial deal that could lead to the reopening of the Strait of Hormuz helped push global stocks... [Continue Reading]
The United States has sanctioned Iraq's deputy oil minister, Ali Maarij al-Bahadly, and three leaders of Iran-backed armed groups over allegations linked to Iranian oil sales and attacks on US personnel.The Treasury Department said the action was taken on Thursday through its Office of Foreign Assets Control, or OFAC, as part of efforts to increase pressure on Iran.It said al-Bahadly had used senior roles in Iraq's oil sector to help divert oil products for the benefit of an Iran-affiliated smuggler.OFAC also designated leaders linked to Kata'ib Sayyid al-Shuhada and Asa'ib Ahl al-Haq, saying the groups, together with Kata'ib Hezbollah, were... [Continue Reading]
Saudi Arabia has refused to allow the United States to use its bases and airspace for a planned military escort operation for oil tankers in the Strait of Hormuz, prompting Washington to shelve the scheme.The plan was known as Project Freedom and was presented as a successor to an earlier bombing campaign.According to the supplied report, Riyadh told the White House it would not permit use of Prince Sultan airbase for the operation.The refusal reportedly stood even after a personal call between Crown Prince Mohammed bin Salman and Donald Trump.The decision matters because the escort plan was intended to protect... [Continue Reading]
India's army is exploring alternative energy sources for cooking, vehicles and installations as the Iran war continues to disrupt oil and gas supplies and push up prices.According to the supplied report, the army plans to use biogas stoves in place of natural gas-fired appliances for cooking.It is also looking at green fuels for vehicles and solar and wind power for military installations.The move comes as Brent crude traded at US$98.31 a barrel in Asian trading on Thursday evening, down from a brief four-year high of US$126.41 on 30 April.The report said oil had been trading at about US$70 before the... [Continue Reading]
China has ordered its citizens and companies not to comply with United States sanctions targeting five Chinese oil refineries, in the first known use of its 2021 anti-sanctions law.The Ministry of Commerce issued what it called a "prohibition order" after the US Treasury Department last month announced sanctions on Hengli Petrochemical (Dalian) and four other refineries accused of handling Iranian oil.Beijing said the sanctions should "not be recognised, enforced or complied with", and argued that they improperly restricted normal trade and business activities.It said the order was intended to protect China's national sovereignty, security and development interests.The move is significant... [Continue Reading]
A Somali woman detained after taking part in anti-government protests says she was tortured by guards at Mogadishu central prison.Sadia Moalim Ali, 27, said she was stripped, kicked, beaten with a baton and held in solitary confinement for two days.Ali said the abuse happened after she was arrested on 12 April for her activism and criticism of the federal government.She said she had used Facebook and TikTok to speak out against alleged corruption, nepotism, forced evictions, youth unemployment, taxation and high fuel prices.She said two male guards stripped her naked in a room monitored by CCTV, forced her to lie... [Continue Reading]
Latvia is investigating two drones that entered its airspace from Russian territory overnight and crashed in the eastern part of the country near an empty oil storage facility.Officials said four empty oil tanks were reported damaged, with minor smouldering seen in one of them.A local public broadcaster also captured a drone flying in the area on camera.Prime minister Evika Siliņa convened a crisis management meeting for 10:00 local time and said she was in constant communication with relevant ministers and state institutions.She said she expected reports from the responsible ministers once the incident was concluded.The case matters because it adds... [Continue Reading]
Solomon Islands Prime Minister Jeremiah Manele has lost a no-confidence vote in parliament, ending months of political uncertainty and setting in motion the process to choose a new leader.Lawmakers voted 26 to 22 against Manele on Thursday, after a session marked by a heavy police presence outside parliament.Parliament was then adjourned so the governor general can make arrangements for the election of a new prime minister.The result removes the head of government in a country that has been in political impasse since March, when cabinet resignations and the exit of two coalition partners weakened Manele's Government for National Unity and... [Continue Reading]
Shell has reported a sharp rise in first-quarter profits after oil prices climbed following the start of the Iran war.The company said profits for the first three months of the year reached $6.92bn, up from $5.58bn a year earlier and above analysts' expectations.The increase came as the price of oil rose sharply after the conflict began and the Strait of Hormuz was effectively closed.The route usually carries about 20% of global oil and liquefied natural gas supplies.Shell said its oil and gas output fell by 4% compared with the final three months of last year because of the conflict, which... [Continue Reading]
A tanker carrying about 2 million barrels of crude oil from Iraq has arrived in Long Beach, California, in what has been described as the last planned shipment from the Middle East to pass through the Strait of Hormuz before the conflict disrupted flows.The vessel, the New Corolla, left the Middle East for California before the war broke out.The shipment reached the state this week, according to the supplied report.California Energy Commission vice-chair Siva Gunda told legislators that the state can meet fuel demand for the next six weeks with current supply.Officials say California imports about a third of its... [Continue Reading]
Iran's oil sector and wider economy are under pressure as a U.S. blockade begins to bite, according to the supplied report.Tehran has said it can endure the pain, even as concerns grow over where its oil may go next.The available detail is limited, but the report says the pressure is now affecting Iran's oil capacity and broader economic outlook.No figures were provided on output, exports or immediate market disruption.There is no confirmed information in the supplied material about casualties, infrastructure damage or a formal response from other governments.The main confirmed reaction is Tehran's insistence that it can withstand the strain.The... [Continue Reading]
The United States military has fired on an Iranian oil tanker in the Gulf of Oman, according to the supplied report, as President Donald Trump pressed Tehran to reach a deal.A fighter jet shot out the tanker's rudder as it tried to breach what US Central Command described as an American blockade of Iran's ports.The report says the Islamic Republic is reviewing the latest American proposals.Trump said a deal with Iran was "very possible", but warned he could resume bombardment if negotiations fail.The strike adds a fresh military dimension to already tense talks.The incident matters because it comes as investors... [Continue Reading]
US forces have said they sank six small Iranian boats while escorting merchant ships through the Strait of Hormuz, as the United Arab Emirates reported missile and drone attacks on its territory.The incidents mark a sharp escalation in a confrontation that has centred on the strategic waterway.The US military said two American-flagged merchant ships successfully transited the strait on Monday as part of a new initiative to reopen the passage.The UAE defence ministry said its air defences engaged 15 missiles and four drones fired by Iran.Authorities in Fujairah said one drone sparked a fire at a key oil facility and... [Continue Reading]
The UAE’s decision to cut ties with OPEC is far more than a mere adjustment of energy policy, for it functions as a political telegram written in barrels and sent directly to the heart of the global order. For nearly six decades, Abu Dhabi operated within the rigid architecture of producer discipline, where it accepted the rituals of quotas, the formality of communiqués, and the heavy burden of collective restraint. It played the long game of oil diplomacy with a patient hand, balancing its own massive national ambitions against the gravity of cartel discipline and the delicate logic of Gulf... [Continue Reading]
As I sat in a recent debate at the historic Carlton Club in London, listening to Faisal Abbas, the Editor-in-Chief of Arab News, I felt a tangible shift in the room, not because a new fact had been revealed, but because an old illusion had finally lost its last breath. The old-world order has not merely changed, it has evaporated, leaving the Gulf to realize it is no longer watching a distant fire from the safety of marble towers and air-conditioned ministries, but is instead standing directly inside the smoke. The GCC today is caught in a lethal crossfire between... [Continue Reading]
As a journalist in my mid-fifties, I thought my skin had thickened to the point of being impenetrable. I have covered the rise and fall of regimes, the grinding gears of the Cold War's leftovers, and the digital revolutions that promised to unite us. I thought I had seen every trick in the political playbook. Then came Donald Trump’s 2026 foreign policy, and I realized I was not watching a statesman; I was watching a child play with a chemistry set he does not understand. The Willy Wonka of the West: Rule by Whim Walking into a press briefing lately... [Continue Reading]
Yesterday the war crossed a line! For years the Sejjil ballistic missile existed mostly as a symbol. A weapon paraded in military videos, discussed in defense briefings, whispered about in strategic circles as one of Iran’s most serious capabilities. A weapon that analysts described as deterrence, not something meant to be used. But on March 15, 2026, that line disappeared. Iran reportedly launched the Sejjil (also known as Ashoura) as part of what Tehran called the 54th wave of Operation True Promise 4, a massive strike package that also included the Fattah hypersonic missile and the Qadr ballistic missile system.... [Continue Reading]
A Voice in the Wilderness of War: Who Still Dares to Speak Truth While Empires March There are moments in history when the world suddenly accelerates toward disaster, moments when anyone who has studied history can feel the temperature rising even before the explosions reach their peak. The current escalation in the Middle East is one of those moments. According to the facts we now see unfolding, the United States and Israel made the unilateral decision to attack Iran without the approval of the United Nations, without a global coalition mandate, and without the support of most of the international... [Continue Reading]
For two decades I have watched wars unfold not only on battlefields, but on screens. Today’s incident over Kuwait, involving the downing of a U.S. F-15 Strike Eagle, is not just another headline in the Iran conflict. It may be a signal that something larger is unfolding behind the noise. Iranian state outlets rapidly circulated imagery of an ejected pilot. Washington responded cautiously. But beneath the spectacle lies a deeper question, whose technology was truly being tested? The Gulf as a live-fire laboratory For years, China has refined export-ready variants of its air defense systems, particularly the HQ-9 family and... [Continue Reading]
A Region on Edge: The Latest Escalation In recent months, tensions between Iran and the United States have intensified once again, fueled by disputes over regional security, nuclear development, maritime incidents in the Persian Gulf, and the broader strategic balance in the Middle East. Officials in Washington have expressed renewed concern over Iran’s uranium enrichment levels, while leaders in Tehran have accused the United States of economic warfare through sanctions and diplomatic isolation. The fragile equilibrium that followed earlier rounds of indirect negotiations appears increasingly strained, with both sides engaging in sharp rhetoric at the United Nations, reinforcing military postures... [Continue Reading]
Power, Greed, Oil, and the Theater of Modern Geopolitics The Business Model of Power Donald Trump does not govern like a traditional politician. He governs like a negotiator who believes every geopolitical crisis is leverage, every war threat is a bargaining chip, and every market panic is an opportunity. When markets tremble, someone profits. The question is, who? Global markets react instantly to political tension. Gold rises when conflict looms. Oil spikes when instability threatens production. Stock markets collapse on fear, then rebound on reassurance. Volatility is not chaos, it is opportunity. Historically, gold has surged during major geopolitical crises,... [Continue Reading]