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Qatar earned a historic 1-1 draw in their World Cup opener against Switzerland in San Francisco, with Boualem Khoukhi scoring in stoppage time to earn the Asian champions their first point in the competition. The late goal denied Switzerland, who had dominated possession and led through a Breel Embolo penalty.
US President Donald Trump is set to meet Indian Prime Minister Narendra Modi separately during the G7 summit in Evian, France, according to senior US administration officials. The meeting, expected to discuss a bilateral trade pact and regional issues, marks their first interaction since February 2025.
The U.S. and Iran have signed a memorandum of understanding to end hostilities, lifting blockades and setting the stage for nuclear talks. The deal, reached after a months-long war that failed to achieve either side's goals, has been met with relief and skepticism, with Israel watching from the sidelines.
US President Donald Trump announced a potential peace deal with Iran that could be signed as early as this weekend in Europe, potentially reopening the Strait of Hormuz. The announcement comes after he cancelled planned military strikes on Iran, though Tehran's foreign ministry says nothing has been finalised.
US President Donald Trump has threatened to strike Iran 'very hard' and take control of the key oil hub of Kharg Island, even as indirect talks between Washington and Tehran have intensified. Iranian officials have warned of a harsh response to any 'reckless' US action, while negotiations mediated by Pakistan and Qatar continue in Switzerland.
OPEC+ nations implementing voluntary oil output cuts produced 21.717 million bpd in May 2026, missing their target by 7.646 million bpd, according to OPEC data. Separate IEA figures indicate a larger shortfall of about 9.44 million bpd for all OPEC+ countries, with Kazakhstan the only major producer above its quota.
President Trump announced a secret US mission to escort oil tankers through the Strait of Hormuz, claiming over 100 million barrels moved. However, shipping data and Energy Secretary Chris Wright's testimony suggest figures may be far lower, with many vessels transiting with Iranian authorization.
Iran's military command has threatened to target any ship transiting the Strait of Hormuz, while the US military conducts new strikes. Amid the escalation, diplomatic efforts continue, with reports of a possible memorandum of understanding and discussions about tolls and reconstruction funding.
Three Indian sailors were killed when the US military struck the tanker MT Settebello in the Gulf of Oman. The incident has prompted India to summon a senior US diplomat to protest. The US says the ship violated its blockade by attempting to transport oil from Iran.
Israeli air strikes in southern Lebanon have killed at least 17 people, according to Lebanese media, as the military issued evacuation orders including for the Christian quarter of Tyre for the first time. Hezbollah has continued attacks on Israeli troops, and the UN has announced an investigation into possible human rights violations.
For the first time, a US Navy autonomous surface vessel rescued two Army helicopter crew members who crashed near the Strait of Hormuz. The Saronic Corsair sea drone, operated by Task Force 59, picked up the pilots within about two hours. The incident highlights the growing role of unmanned systems in military operations.
Iran has launched missiles at U.S. targets in Jordan, Bahrain, and Kuwait after the U.S. struck Iranian sites in response to the downing of an American helicopter. The exchanges threaten the fragile ceasefire, with Jordan reporting it intercepted five missiles. The U.S. and Iran blame each other for the escalation.
Prime Minister Shehbaz Sharif has ordered the acceleration of privatisation of power distribution companies, with plans to sell three profitable utilities by December 2026. The government is offering investors an 18-20% return and market freedoms, while maintaining consumer protections and uniform tariffs for now.
A US Army Apache helicopter crashed near the Strait of Hormuz; both crew members were rescued and President Trump said they are fine. The cause remains unclear, and the incident follows recent Iran-Israel exchanges and ongoing tensions over the waterway.
Yemen's Houthis have declared a ban on Israeli maritime navigation in the Red Sea and claimed a missile attack on Israel, amid escalating exchanges between Israel and Iran. The moves threaten to disrupt key shipping routes and strain a fragile ceasefire.
Crude oil prices swung widely over recent sessions as Middle East tensions escalated and then eased. Reports from multiple outlets show Brent crude rising more than 3% after Iran's missile attack on Israel, then settling higher after both sides halted attacks, only to climb again after new U.S. strikes. A separate report from Dawn indicated a decline in prices following US-Iran talks in Switzerland.
OPEC+ has agreed to a fourth increase in oil output targets despite the ongoing closure of the Strait of Hormuz, which has severely curtailed production from key Gulf members. The group also announced a review of production capacity for 2027 baselines, while OPEC trimmed its 2026 demand growth forecast but raised it for 2027.
Seven OPEC+ nations, including Saudi Arabia and Russia, agreed to raise daily oil output by 188,000 barrels in July, while reaffirming commitment to existing agreements and extending the compensation period for overproduced volumes until the end of 2026. The decisions were announced after a series of OPEC+ meetings held on June 7.
The UN World Food Programme warns that up to 45 million additional people could be pushed into hunger as the Iran conflict continues to drive up energy and food prices. New data highlights acute food insecurity in Somalia, Afghanistan, and Sri Lanka, with aid operations strained by funding shortfalls and rising operational costs.
Recent reports detail US military involvement in coordinating vessel passages and conducting secretive ship-to-ship oil transfers near the Strait of Hormuz, amid ongoing tensions with Iran. The New York Times, as cited by TASS, reports over 100 vessels were assisted, while Reuters details an operation involving at least 92 ships.