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The US and Japan have jointly intervened to support the yen, with Treasury Secretary Scott Bessent reportedly planning to purchase $5-10 billion in yen. This rare move, the first yen-buying intervention since 1998, follows the currency's fall to a 40-year low and involves complex motivations from both sides.
US President Donald Trump announced that new negotiations with Iran will begin on Monday after he cancelled a planned large-scale military attack. Iran has denied holding direct talks with the US, saying it is only speaking to Oman about control of the Strait of Hormuz, where the two countries have agreed on shipping route coordinates.
US President Donald Trump said he postponed military strikes against Iran at the request of Gulf allies including Saudi Arabia, Qatar, and the UAE, citing an emerging deal. Talks are set for August 3, but Iranian officials have disputed the claims.
Oil prices fell more than $4 a barrel on Monday after US President Donald Trump held off on a fresh attack on Iran, seeking a quick deal to reopen the Strait of Hormuz. Brent crude slid to around $83.50, while US West Texas Intermediate dropped to near $79.50. The move followed weekend signals of de-escalation, with tanker traffic resuming and OPEC+ approving a production increase.
US President Donald Trump announced he has cancelled a planned attack on Iran, saying the 'perimeters of a deal' have been agreed. The decision followed a phone call from Saudi Crown Prince Mohammed bin Salman, who warned against escalating military operations. The potential deal would include the opening of the Strait of Hormuz and an end to Iran's nuclear threat.
Iran has warned Gulf states that any new US attack on its territory would trigger retaliation against energy infrastructure across the region, as Tehran seeks to raise the cost of military action. The warning was delivered through high-level diplomatic contacts, including calls by Foreign Minister Abbas Araqchi, and follows US threats of fresh strikes.
US President Donald Trump has threatened additional strikes on Iran as the United States presses for the reopening of the Strait of Hormuz. Iranian retaliatory attacks on US allies in the Gulf continue, with Kuwait responding to drone strikes and the US State Department issuing security alerts for Americans in 10 countries.
Israeli Prime Minister Benjamin Netanyahu's recent meeting with US President Donald Trump was notably low-key, lacking the public fanfare of previous visits, yet both sides described it as productive. The visit came amid reported tensions over the ongoing war with Iran, with former ambassador Mike Herzog noting that Israel's influence on US decision-making has diminished. Netanyahu also declined a meeting with Ukrainian President Volodymyr Zelensky during the same trip.
Over 30 community water systems in Minnesota were targeted in a coordinated cyberattack earlier this week, with US officials suspecting Iranian hackers, though assessments remain preliminary. The attack has prompted federal investigations and heightened concerns over critical infrastructure vulnerabilities.
The US military, alongside Saudi Arabia, conducted airstrikes against Iran-backed militias in Iraq in response to drone attacks on American forces and Saudi energy infrastructure. The strikes followed an attempted Iranian ballistic missile attack on US forces, which the US military said was intercepted. Crude oil prices rose more than four percent amid the renewed conflict.
Yemen's internationally recognized government has accused the Houthis of planning to impose fees on ships transiting the Red Sea and Bab al-Mandab Strait, drawing on Iran's model in the Strait of Hormuz. Foreign Minister Designate Afrah al-Zouba and Information Minister Moammar al-Eryani made the allegations, warning that attacks have already disrupted global trade.
Recent missile and drone strikes on Jordan, including a lethal attack on a base used by US forces, show Iran's expanding front in the Middle East. Jerusalem Post analysis details Jordan's vulnerability, its historical ties to the West, and the strategic calculus behind Iran's choice of targets.
Russia has charged Telegram founder Pavel Durov with aiding terrorism, accusing him of allowing the platform to be used by Ukrainian security services for recruitment and coordination of attacks. The FSB has placed Durov on an international wanted list, escalating Moscow's long-running efforts to control the internet.
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu met at the White House for the first time since launching a joint war against Iran. The meeting, described as 'positive and productive' by the White House, comes amid reported tensions over Iran policy and other issues.
US President Donald Trump held separate Oval Office meetings with Ukrainian President Volodymyr Zelenskyy and Israeli Prime Minister Benjamin Netanyahu on Tuesday, as the two leaders navigated shifting US policies on the wars in Ukraine and Iran. The meetings came amid reported tensions between Trump and Netanyahu and signs of a changing posture on Ukraine.
Yemen's Houthi movement has announced a maritime blockade against Saudi Arabia, threatening vessels in the Bab el-Mandeb Strait. The move escalates regional tensions amid the US-Iran conflict and has drawn reactions from Pakistan, while analysts warn of global economic consequences.
The United States and Iran have paused hostilities for a third day, with Qatari and Pakistani mediators working to restart ceasefire talks. Reports indicate diplomatic efforts are underway, though Tehran denies direct negotiations, and the conflict's economic costs are mounting.
Shipping traffic through key Middle East chokepoints has fallen sharply following Houthi attacks on Saudi oil installations, with vessel transits at multi-month lows. Data from Kpler shows a significant decline in the Strait of Hormuz and Bab el-Mandeb, as regional conflict disrupts trade.
Oil prices fell sharply on Monday after the US and Iran paused strikes over the weekend, with Brent crude dipping below $88 a barrel in some trading. The pause has raised hopes of a diplomatic solution, but shipping disruptions in the Strait of Hormuz and the Red Sea continue to keep markets cautious.
After nearly two weeks of intense exchanges, the US and Iran have paused military strikes, bringing a measure of calm to the Gulf region and global markets. Oil prices tumbled, and diplomatic channels appear to be reopening, with US officials signaling room for negotiations.