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Iran and the United States have paused their attacks, offering a respite for Gulf shipping and oil markets. Oil prices fell sharply on Monday as investors reacted to the reduced hostilities, while US envoy Mike Waltz said President Trump was giving talks 'some space'.
South Korean stocks closed nearly 1% higher on Monday, driven by a US pause in strikes on Iran that eased Middle East tensions, a drop in oil prices, and a $950 billion tech cooperation agreement between South Korean and US companies.
The Pakistan Stock Exchange's KSE-100 index rose sharply on Monday, gaining more than 5,000 points intraday, driven by easing US-Iran tensions and expectations of a steady policy rate. The State Bank of Pakistan later maintained its policy rate at 11.5%.
Iran has warned Ukraine of consequences after a Ukrainian attack on an Iranian commercial vessel in the Caspian Sea killed one sailor. Tehran accuses Israel of orchestrating the attack, while Kyiv says it targeted Russian-linked military cargo. A senior Iranian lawmaker has echoed threats of retaliation.
Australian shares are poised to rise at the open, with futures pointing to gains as investors weigh easing US-Iran tensions against ongoing concerns over tech valuations. Wall Street closed mixed, while oil prices fell sharply, and the Australian dollar was little changed.
Iran stated it made progress in talks with Oman on managing the Strait of Hormuz, focusing on safe passage and sovereign rights. The discussions follow U.S. attacks on Iran and a June memorandum of understanding, with both sides exploring temporary arrangements. Meanwhile, U.S. Treasury Secretary Bessent hinted at a possible breakthrough in broader U.S.-Iran talks.
Iran has halted retaliatory attacks against US allies after Washington paused airstrikes for a second and third night, raising hopes of renewed negotiations. Reports indicate US concerns over dwindling munitions influenced the pause, with senior officials advising President Trump to hold off on further escalation.
Recent reports indicate a missile launch from Iran toward Jordan, accompanied by an explosion in Bandar Abbas. Meanwhile, Gulf states project stability and economic growth, and Houthi military displays highlight IRGC influence.
Andy Burnham, the new UK Prime Minister, has said he will always put Britain's interests first in his dealings with US President Donald Trump, signaling a willingness to disagree publicly if necessary. His first call with Trump was described as warm, though both leaders have potential flashpoints, including Iran policy. Burnham also ruled out an early general election.
A Ukrainian strike on an Iranian commercial vessel in the Caspian Sea has killed one sailor and wounded another, prompting Tehran to summon Ukraine's diplomats and accuse Kyiv of a 'hostile and criminal' act. The incident raises concerns about a new front in the overlapping conflicts in Ukraine and the Middle East.
Iran has passed another night without US airstrikes as Washington pauses its campaign, with reports suggesting concerns over dwindling munitions are restraining further escalation. The lull has revived hopes of negotiations, but President Trump has threatened strikes at a 'much higher level' if no deal is reached.
Yemen's Houthi movement launched missiles at Saudi Arabia after accusing the kingdom of bombing Sanaa airport, breaking a fragile four-year truce. The escalation threatens to draw the Red Sea and the Bab al-Mandeb Strait into a wider regional conflict, with oil facilities targeted.
As Iran escalates attacks on Gulf states, analysts and residents call for a coordinated regional response. Reports suggest Bahrain and Kuwait may have launched limited strikes, while US and Israeli support is seen as crucial in forming a defense alliance.
Labor's national conference has voted to support expanding voluntary assisted dying access via telehealth, but Prime Minister Anthony Albanese says he is 'yet to be convinced' and fears misuse. The government faces pressure from crossbench MPs and the Greens to change the law, while concerns about elder abuse have been raised.
US President Donald Trump has paused plans for a major military escalation against Iran, according to multiple reports, amid concerns over depleting missile interceptor stockpiles. The decision follows warnings from top military officials and reflects broader worries about the conflict's trajectory and its political fallout.
The US and Iran show no signs of de-escalation as they continue trading strikes, with Saudi Arabia hitting Hodeida in response to Houthi attacks. Iran's army warns the war could widen, while Israeli PM Netanyahu prepares to meet President Trump at the White House.
Houthi rebels have launched missiles and drones at Saudi Arabia, targeting oil infrastructure in Yanbu and Jizan, in retaliation for Saudi strikes on Hodeida. Yemen's internationally recognised government says it is prepared for any escalation, as the conflict threatens global shipping through the Bab el-Mandeb Strait.
Iran has shifted its military focus to Bahrain and Kuwait amid ongoing US-Iran conflict, with analysts citing historical tensions and the small size of these Gulf states. Meanwhile, a crackdown on documentation of attacks has led to over 1,000 arrests, raising freedom of expression concerns.
The Iranian-backed Houthis are escalating attacks on Saudi Arabia, threatening to target Saudi ships in the Bab el-Mandeb Strait unless the Saudi-led coalition ends its blockade. In response, Saudi-led coalition strikes have targeted missile sites and weapons depots, while the Houthis also accuse Riyadh of attacking Sana'a airport.
Yemen's Houthi rebels have claimed a missile attack on the Saudi city of Jazan, accusing Riyadh of a 'dangerous escalation' after Saudi strikes on Houthi targets. The US military paused its daily strikes on Iran for the first time in 13 nights, while President Trump indicated he would hold off on major operations as talks with Iran progress.