Location · 632 published stories · 113 outlets · All places
The International Monetary Fund has warned that the global economy has largely used up its capacity to absorb energy shocks, with oil reserves depleted and inventories near operational minimums. The warning comes as the Strait of Hormuz remains restricted amid the US-Iran conflict, threatening further economic damage.
The interim US-Iran ceasefire has collapsed, leading to renewed airstrikes, Iranian retaliation, and threats to close strategic straits. President Trump has escalated rhetoric, proposing and quickly abandoning a toll plan for the Strait of Hormuz, while global oil prices rise. The conflict has renewed discussions in Washington about regime change, with diplomatic efforts failing to secure concessions.
President Donald Trump has proposed that the US take over the Strait of Hormuz and charge a 20% toll on cargo, a plan that has drawn expert skepticism and criticism from Brazilian President Lula, who called it 'piracy'.
Lebanon and Israel have resumed talks in Rome, mediated by the US, aiming to implement a framework agreement that calls for the phased withdrawal of Israeli forces from southern Lebanon and the disarmament of Hezbollah. Hezbollah has rejected the deal, while expectations for rapid progress remain low amidst ongoing regional tensions.
The United States has carried out a third consecutive night of strikes against Iran and announced the reimposition of a naval blockade on Iranian ports, with President Trump threatening further escalation. The UAE reported that two of its oil tankers were hit by Iranian cruise missiles in the Strait of Hormuz, killing one crew member. Meanwhile, Iran's Revolutionary Guards accused the US of jeopardising global oil and gas supplies.
President Trump announced the reinstatement of a blockade on Iran in the Strait of Hormuz, imposing a 20% toll on eligible cargo, but reversed the toll the next day. The move highlights the fragile ceasefire and the strategic importance of the waterway, with Iran and the US at odds over control.
The US military has launched a third consecutive night of strikes against Iran, while Iran's Revolutionary Guards Corps announced missile and drone attacks on US facilities in Bahrain. Both sides accuse each other of violating the interim agreement that had ended fighting in June.
The UAE Ministry of Defence reported that two Emirati oil tankers were hit by Iranian cruise missiles in the Strait of Hormuz, killing one Indian crew member and wounding eight others. The attack has drawn condemnation from the UAE and expressions of solidarity from other Gulf states.
Yemen's internationally recognised government has claimed responsibility for a strike on Sanaa airport, saying it aimed to prevent an Iranian plane from landing. The Houthi rebels blamed Saudi Arabia and threatened retaliation, raising fears of renewed all-out war in Yemen.
The UK government is submitting draft regulations to ban support for Iran’s Islamic Revolutionary Guard Corps and the linked Islamic Movement of Companions of the Right, which claimed seven attacks on Jewish and related sites. Officials say the IRGC’s Qods Force almost certainly directed the group and are designating Russia’s GRU Volunteer Corps under the same new state-threats powers. Prime Minister Keir Starmer said the measures will make it easier to prosecute those carrying out hostile work on British soil.
US Central Command has confirmed the first combat use of one-way attack sea drones against Iranian targets, striking a naval base and degrading Iran's ability to attack commercial shipping. The strikes come amid an escalating naval blockade and retaliatory attacks, including an Iranian strike on two UAE tankers that killed one crew member.
Oil prices surged more than 3% after renewed military strikes between the US and Iran raised concerns about shipments through the Strait of Hormuz. While Iran claims it has closed the strait, US officials and Central Command say it remains open. Gulf oil exports have recovered from May lows but remain below pre-war levels.
Tensions between the U.S. and Iran have escalated sharply after a weekend of military exchanges near the Strait of Hormuz, with Iran striking a commercial ship and U.S. forces hitting Iranian military targets. Russia's foreign ministry warns of shipping disruption risks, while Pakistan's role in a recent ceasefire agreement surfaces.
Brent crude has risen sharply in recent sessions as US military strikes on Iran and renewed threats to shipping in the Strait of Hormuz unsettle energy markets. Multiple outlets report gains of roughly 4 to 5 percent on different days, alongside higher European gas prices and fresh US moves to levy charges on vessels. Iran’s Revolutionary Guards claimed attacks on US bases while Washington described its actions as responses to threats against commercial shipping.
The United States and Iran have exchanged multiple rounds of strikes this week, with Iran declaring the Strait of Hormuz closed and attacking commercial vessels. Oil prices spiked and markets plunged as shipping disruptions intensified, with the US insisting the waterway remains open.
Iraqi Prime Minister Ali al-Zaidi is set to visit Washington to meet President Donald Trump, with oil and gas agreements expected to be signed as part of a push for economic cooperation. The visit also addresses Iraq's efforts to balance ties with Iran and the US, amid military escalation and oil revenue losses.
As the Australian parliament enters its winter recess, Prime Minister Anthony Albanese reflects on a bold budget and recent diplomatic wins, while Labor's upcoming national conference in Adelaide will feature debates on AUKUS and other platform issues, highlighting internal party dynamics.
Pakistan has called on all sides in the US-Iran conflict to exercise restraint, following the collapse of a ceasefire and renewed attacks. Both Al Jazeera and Dawn report Pakistan's diplomatic efforts, including a call with Iran's foreign minister, amid fresh strikes.
The US launched a third round of airstrikes against an Iranian strike on a vessel in the Strait of Hormuz, hitting about 140 targets, while Iran responded by attacking several Gulf Arab states. Analysts describe a US shift toward eroding Iran's capacity to govern and finance its war effort, and a Tehran strategy of widening the battlefield.
Fresh US military strikes on Iran prompted Tehran to announce the closure of the Strait of Hormuz and to attack targets in several Gulf states. The escalation follows Iran's strike on a container ship, and regional governments report interceptions and damage. US Central Command maintains that commercial traffic continues to flow through the strait.