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Global oil prices fell sharply after President Trump announced a two-week ceasefire between the US and Iran, pending the safe reopening of the Strait of Hormuz. While markets reacted with relief, analysts caution that consumer prices and long-term stability remain uncertain.
As the US and Israel continue their campaign against Iran, analysts say Beijing is closely studying Washington's military tactics, strengths, and vulnerabilities. The conflict provides rare insights into US wartime resilience, with implications for China's strategic planning, including any potential confrontation over Taiwan.
US President Donald Trump warned Iran that 'a whole civilization will die tonight' if Tehran does not reopen the Strait of Hormuz by his deadline. The threat drew condemnation from Pope Leo and raised international law concerns, as the US and Israel continued strikes on Iranian infrastructure. A two-week ceasefire was later announced.
US Vice-President JD Vance traveled to Budapest to support Prime Minister Viktor Orban ahead of a tightly contested election, with polls showing Orban trailing opposition leader Peter Magyar. Trump endorsed Orban, and Vance accused the EU of interference, while US envoy Andrew Puzder denied meddling.
Vietnam's National Assembly has elected Le Minh Hung, a former central bank governor, as the country's new prime minister for the 2026-2031 term. His appointment is seen as a bet on economic competence amid challenges. Reports differ on his age and background details.
The UN Security Council is set to vote on a Bahrain-drafted resolution addressing the closure of the Strait of Hormuz, as the US-Iran conflict disrupts global energy supplies. Reports also detail the downing of a US F-15E and ongoing efforts to recover a missing crew member.
Japan's government confirmed that a Japanese national detained in Iran since January has been released on bail. The individual is believed to be NHK's Tehran bureau chief, Shinnosuke Kawashima, who faces security-related charges and is barred from leaving Iran.
Presidential Chief of Staff Kang Hoon-sik will travel to Kazakhstan, Oman, and Saudi Arabia to discuss securing crude oil and naphtha supplies as the Strait of Hormuz remains effectively closed amid the U.S.-Israeli war with Iran. The trip underscores South Korea's urgent efforts to diversify energy sources and stabilize domestic markets, with gasoline prices surpassing 2,000 won per liter and shortages appearing in daily goods.
US President Donald Trump has criticized Australia for not providing military help in the Middle East, despite Australian officials saying no specific request was made. Meanwhile, authorities warn of an increasing chance Tropical Cyclone Maila could hit the Queensland coast this weekend.
President Trump has threatened Iran with military action if a deal isn't reached by Tuesday's deadline, while negotiations continue through Pakistani intermediaries. Iran has rejected current proposals, and UK officials have criticized Trump's rhetoric as the conflict escalates.
Russia's Foreign Ministry spokesperson criticized Japan's assistance to Ukraine, saying Tokyo's involvement damages bilateral relations. TASS also reported that Japan has provided $10.7 billion in financial aid to Ukraine since 2022, including a recent $1.3 billion tranche.
South Korea's national debt surpassed 1,300 trillion won in 2025, with the debt-to-GDP ratio reaching 49%. While the IMF sees a slightly improved medium-term outlook, concerns over fiscal sustainability and tax revenue forecasts persist.
Australia has received assurances from key Asian fuel exporters—Japan, Singapore and South Korea—that normal fuel supplies will continue despite the closure of the Strait of Hormuz. The guarantees come as Australia, which imports about 90% of its refined fuel, faces rising prices and shortages. The government is also diversifying sources and using LNG exports as leverage in negotiations.
South Korea's foreign ministry said Sunday that ships stranded in the Strait of Hormuz face differing circumstances, after two Japan-linked vessels passed through the waterway effectively blocked by Iran. The ministry noted that 26 South Korean vessels with 173 sailors remain stranded since late February, while Seoul works with partners to restore safe passage.
Two cherry blossom trees collapsed in Tokyo parks, raising safety concerns as many of the city's iconic Somei Yoshino trees planted in the 1960s are now old and frail. Last year, 85 trees fell in Tokyo parks, injuring three people. Officials and experts are calling for careful monitoring and maintenance.
During a state visit to Seoul, French President Emmanuel Macron and South Korean President Lee Jae Myung agreed to boost defence cooperation and collaborate on securing safe passage through the Strait of Hormuz. Both leaders emphasized diplomatic solutions over military intervention, while also committing to expand bilateral trade to $20 billion by 2030.
US President Donald Trump said in a social media post that with more time the US can easily reopen the Strait of Hormuz, take the oil and 'make a fortune.' The remarks come as Iran's retaliatory strikes have disrupted shipping through the strategic waterway, and as the UK prepares to host a virtual summit of over 30 countries to discuss reopening it.
A French-owned container ship and a Japanese-owned tanker have crossed the Strait of Hormuz, marking the first such transits by Western vessels since the US-Israeli conflict with Iran effectively closed the waterway. The crossings, confirmed by shipping tracking data, come amid ongoing diplomatic efforts to reopen the strategic route for global oil and LNG supplies.
During a summit in Seoul, South Korean President Lee Jae Myung and French President Emmanuel Macron agreed to cooperate on securing safe passage through the Strait of Hormuz and deepening bilateral economic ties. The meeting unfolded as U.S. President Donald Trump criticized allies for not supporting U.S. and Israeli actions against Iran, and Macron cautioned that a military solution to reopen the strait was unrealistic.
President Donald Trump signed an executive order on Thursday allowing tariffs of up to 100% on patented pharmaceuticals and their ingredients, with exemptions for companies that strike pricing deals and onshore production. The move, announced on the anniversary of his 'Liberation Day' tariffs, has drawn criticism from industry groups warning of increased costs and investment risks.