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Canadian Prime Minister Mark Carney announced dollar-for-dollar retaliatory tariffs after trade talks with the US collapsed, triggering 50% US tariffs on $20 billion of Canadian goods. The dispute has deepened with Trump threatening further tariffs on vehicles and steel, while Canada prepares targeted countermeasures.
US President Donald Trump again shared a map depicting the Strait of Hormuz as 'NEW US Territory,' drawing a sharp rebuke from Iran's top security official. As the US prepares to announce major new sanctions, Iran has threatened to target countries that join the economic pressure campaign and warned that not a drop of oil would pass through the strait if it is besieged.
US Treasury Secretary Scott Bessent announced an 'economic D-Day' against Iran, vowing to sever Tehran's economic lifelines. Iran has threatened to halt oil exports through the Strait of Hormuz and warned of an 'act of war' against supporting nations, escalating tensions.
Jared Kushner met with Hamas political leader Khalil al-Hayya in Egypt and later with Israeli PM Netanyahu, signaling a new normal in US-Hamas direct talks. The meetings come amid a fragile Gaza ceasefire, a lapsed US-Iran memorandum, and ongoing settler tensions in the West Bank.
A cargo vessel was hit by an unknown projectile in the Strait of Hormuz, damaging its engine room and causing a crew casualty, according to UKMTO. Brent crude rose above $91 and WTI topped $85 amid renewed fighting in Lebanon and hopes for a US-Iran deal fading. Meanwhile, oil producers have adopted 'dark' transits and ship-to-ship transfers to keep exports flowing despite the conflict.
Indian equity markets opened higher on Monday, tracking positive global cues and easing crude prices, with the Sensex gaining over 200 points and the Nifty hovering near 24,300. However, analysts remain cautious about elevated geopolitical risks and the impact of high oil prices on the rupee and market sentiment.
Iran's rial dropped to a record low against the dollar as Washington readied what it called an 'economic D-Day' of new sanctions. The currency's fall underscores the toll of nearly six months of war, with inflation soaring, oil exports halted, and pressure mounting on Tehran despite its control of the Strait of Hormuz.
US President Donald Trump's envoy Jared Kushner has reiterated that Iran cannot be allowed to acquire a nuclear weapon, outlining core conditions for any deal, as the 60-day framework from June lapses unresolved. The collapse of that memorandum has left tensions over the Strait of Hormuz and uranium enrichment unresolved, with Tehran not yet deciding on direct talks.
Oil prices steadied above $91 per barrel on Thursday as investors weighed the outlook for the US-Iran conflict and shipping security in the Strait of Hormuz. Brent and WTI benchmarks have risen for four straight sessions, supported by geopolitical tensions and supply concerns.
Iran's foreign minister said Tehran pushed the war with the US to force a ceasefire on its own terms, claiming victory in both war and diplomacy. Meanwhile, Egypt seeks to revive US-Iran talks, France and Saudi Arabia plan alternative trade routes, and the US warns of unprecedented economic pressure.
Brent crude rose above $90 a barrel after a two-month negotiating window expired without a deal, while a US blockade has sharply reduced Iranian oil flows to China. Treasury Secretary Scott Bessent is set to detail new sanctions aimed at isolating Iran. Iranian officials have warned of a more aggressive military stance in the Strait of Hormuz.
Ship crossings through the Strait of Hormuz remain in single digits despite a slight weekend uptick, according to Kpler data, as US-Iran tensions continue to disrupt a key energy chokepoint. While overall traffic edged higher, analysts note a decline in cargo-carrying transits and a rise in sanctioned and Iran-routed vessels.
Ship crossings through the Strait of Hormuz rose slightly on Monday but remained in single digits, according to Kpler shiptracking data. The uptick follows a weekend slowdown attributed to strikes on UAE vessels, as US-Iran peace talks remain stalled.
Signatory States of the Djibouti Code of Conduct/Jeddah Amendment have agreed to set up a Combined DCoC Task Force to coordinate maritime operations against piracy in the Western Indian Ocean and Gulf of Aden. The decision, endorsed at an extraordinary Steering Committee meeting in July and by National Focal Points in August, aims to complement existing international efforts while addressing the continued captivity of seafarers.
A new Reuters/Ipsos poll shows President Donald Trump's approval rating at 33%, matching the lowest of his presidency, while support for US military action against Iran fell to 31%. The findings underscore growing public concern over the prolonged conflict and its economic toll, with 83% expecting the war to continue.
Oil prices fell more than 1% on Monday as investors booked profits ahead of a US announcement on new sanctions against Iran. Treasury Secretary Scott Bessent is set to unveil what he calls an 'economic D-Day,' while analysts debate the effectiveness of the measures and the risk of Iranian retaliation.
President Trump declared on Truth Social that Iran cannot possess a nuclear weapon 'in any way, shape or form' as the 60-day ceasefire agreement signed in June expired Monday, with no permanent peace deal reached. Iran rejected the deadline, citing 'gross and widespread US violations' and saying it does not formulate policy under pressure. In related developments, US envoy Jared Kushner pressed Israeli Prime Minister Benjamin Netanyahu to accept a Gaza peace plan, while Hunter Biden and Bill Maher sparred over Kushner's role on 'Real Time.'
US President Donald Trump has threatened military action against Oman if it impedes efforts to end the conflict with Iran, saying he views the Strait of Hormuz as 'American territory'. Russia has condemned the threats as pressure tactics, while Iran's foreign minister called US sanctions threats 'doomed to fail'.
Iran and Oman have agreed in principle on a temporary maritime transit mechanism for the Strait of Hormuz, with talks continuing on a permanent corridor. The deal includes a joint navigational corridor and mine clearance, but Iran insists traffic will not fully normalize until the US lifts its blockade and sanctions.
Iranian Foreign Ministry spokesman Esmail Baghaei said negotiations with Oman on Strait of Hormuz security have been delayed due to US and Israeli interference, while Tehran and Muscat work on a mechanism to ensure safe passage. Baghaei also reiterated Iran's refusal to accept US conditions for ending the Middle East conflict, warning that countries hosting US troops could face consequences.