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Talks between the US and Iran have made progress, but key issues remain unresolved, particularly the reopening of the Strait of Hormuz and the future of Iran's nuclear program. While President Trump says a deal is close, Iranian officials caution that significant details still need to be negotiated.
Oil prices have experienced sharp fluctuations as markets react to evolving signals from Washington and Tehran over a potential deal to end the US-Israel war on Iran and reopen the Strait of Hormuz. While hopes for a breakthrough briefly drove crude prices down, renewed strikes and cautious statements have reversed gains, leaving traders uncertain.
US President Donald Trump says a draft agreement with Iran has been 'largely negotiated,' though the deal is not yet finalized. Reports say he has consulted with regional leaders and plans further talks, while warning of a 50-50 chance of resuming hostilities.
The Sindh government has revised its Eidul Azha holiday announcement, settling on a three-day public holiday from May 26-28, with a work-from-home arrangement for May 29. This aligns the province with the federal government's three-day schedule, following an initial four-day declaration that included Friday.
Pakistan's foreign minister has described recent US-Iran negotiations as marking significant progress toward regional stability, with reports suggesting the draft of a potential deal has been largely agreed upon. The comments come as diplomatic efforts continue amid a complex military and political landscape.
Pakistani Prime Minister Shehbaz Sharif praised US President Donald Trump's 'extraordinary efforts to pursue peace' following a phone call that included Pakistan's army chief. Islamabad hopes to host another round of US-Iran negotiations, while Trump announced a memorandum of understanding on a peace deal is 'largely negotiated.'
South Korea's crude oil imports from the Middle East fell 37% in April year-on-year amid geopolitical tensions, with Saudi Arabia shipments down 37.6%. The country diversified sources, increasing imports from the US, Australia, and Canada. Separately, import prices fell for the first time in 10 months due to declining oil prices.
US President Donald Trump and Iranian officials signaled progress toward a framework agreement to end the war in the Middle East, with Iran finalizing a 14-point memorandum of understanding. However, key issues remain, including nuclear guarantees, sanctions relief, and the Strait of Hormuz, and some reports suggest the pace of negotiations has slowed.
More than 20,000 sailors are trapped on about 2,000 vessels in the Gulf after Iran closed the Strait of Hormuz, facing shortages of supplies and fear of attacks. New reports highlight the plight of Hong Kong-linked ships and calls for reopening the waterway.
The standoff over the Strait of Hormuz is entering a dangerous new phase as US and Iranian forces trade fire, negotiations stutter, and Tehran's oil exports fall to a six-year low. US intelligence assesses Iran can withstand the blockade for months, while diplomatic efforts, including Pakistan-led mediation, struggle to gain traction.
Pro-Palestinian activists deported after their Gaza-bound flotilla was intercepted by Israeli forces have alleged abuse, including sexual assault and rape, while in detention. Organizers report at least 15 cases, while Israel's prison service denies the allegations. Several governments have expressed concern and are investigating possible crimes.
A Qatari negotiating team has arrived in Tehran in coordination with the United States to help secure a deal to end the war with Iran, according to multiple sources. Qatar's involvement comes as it has previously been attacked by Iranian missiles and drones, and as Pakistan continues its official mediatory role.
England head coach Thomas Tuchel revealed his 26-man squad for the 2026 World Cup, omitting several high-profile players including Phil Foden, Cole Palmer, Harry Maguire, and Trent Alexander-Arnold. Ivan Toney earned a surprise recall. Tuchel emphasized the importance of team cohesion over individual talent.
The Power of Siberia 2 pipeline, a proposed 2,600 km link from Russia to China via Mongolia, is moving closer to reality as contracts near finalization. With a capacity of 50 billion cubic meters per year, the project could significantly alter global energy trade, reducing China's reliance on LNG and potentially easing supply for other importers. However, analysts note hurdles remain, including pricing and geopolitical tensions.
As the US awaits Tehran's response to a draft peace agreement circulated by Donald Trump, control over the Strait of Hormuz and Iran's highly enriched uranium stockpile remain key sticking points. Iranian officials assert the strait's strategic value, while Pakistani mediators push for a permanent ceasefire.
Iran's Islamic Revolutionary Guard Corps says over 30 commercial vessels passed through the Strait of Hormuz in the last day, following its establishment of a safe maritime route. The announcement comes amid heightened regional tensions following US and Israeli military operations against Iran in late February.
Australian share market futures indicate gains as diplomatic hopes ease US-Iran tensions, with oil prices dropping on peace prospects. SpaceX's IPO priced at $135 per share, raising a record $75 billion.
Ukraine has significantly improved its air defense capabilities, combining Western-supplied systems with domestically developed technology, including the Sky Map software and mass-produced interceptor drones. Recent Russian attacks involving over 1,500 drones and 56 missiles were largely intercepted, according to Ukrainian officials.
Iranian military officials have reiterated readiness to counter any aggression, with President Masoud Pezeshkian vowing continued support for the armed forces. The statements follow recent US strikes and a cancelled strike, amid ongoing tensions and ceasefire efforts.
Reports describe a tense phone call between President Trump and Prime Minister Netanyahu over Iran, with Netanyahu favoring renewed strikes and Trump leaning toward a diplomatic deal. Israeli sources say Israel feels sidelined in US-Iran talks, while some analysts suggest the public discord is a calculated feint. Trump publicly praised Netanyahu, saying he will 'do whatever I want him to do.'