All articles tagged with #middle east conflict
Iranian officials reportedly weighed hitting U.S. military assets in Europe (including Bulgaria and Cyprus) if the war widens, as U.S.-Iran tensions remain high; the UAE paused all trade with Iran after missiles were launched toward its waters. Washington says no talks are planned and negotiations are stalled, while shipping through the Strait of Hormuz remains unusually quiet and an earlier cargo-ship attack killed one person.
The United Arab Emirates says Iran launched two ballistic missiles toward the UAE; both missiles fell into the sea, with one landing inside UAE territorial waters as air defenses engaged, while Tehran has not commented and tensions in the region remain high amid ongoing Middle East conflict and shipping disruptions through the Strait of Hormuz.
President Trump called off a planned attack on Iran, saying a deal could include the immediate opening of the Strait of Hormuz; Iran asserts that passage remains controlled by its armed forces and warned of retaliation, while regional mediators pursue diplomacy as the previously attempted Hormuz-related agreement has been rolled back. The situation is ongoing amid broader regional tensions and Iran’s domestic economic strains, with no durable breakthrough on Hormuz passage yet.
Iran says it will retaliate if the United States targets critical energy infrastructure, as reports of an imminent US-Israel strike against Iran’s civilian facilities surface; Tehran accuses Washington of fanning a broader regional war while its forces respond with missiles and drones, and diplomacy remains tentatively open amid escalating regional attacks and tensions around the Strait of Hormuz.
ExxonMobil and Chevron posted strong Q2 results as higher oil prices and Middle East disruption lifted profits; Chevron reported net income of $12B and adjusted EPS of $6.06, beating estimates, while Exxon earned about $14.5B with adjusted EPS of $3.52, missing by 8 cents due to refining-market volatility; both posted significant gains in upstream and refining segments, with production up and crude prices averaging around $92/bbl in Q2.
Saudi Arabia said it intercepted and destroyed drones launched from Iraqi territory by Iranian-backed militias, marking its first direct response to such attacks since the collapse of a U.S.-Iran cease-fire. The drones were aimed at oil facilities in the Eastern Province and Riyadh, as tensions spill into a wider regional conflict that also involves Houthi attacks near the Red Sea and other cross-border drone activity.
Oil fell about 7% as the U.S. and Iran paused strikes to create space for diplomacy, sending Brent below $90 and U.S. crude near $83 while stock futures rallied on hopes for de-escalation; traders remain cautious about potential disruption to crude flows through the Strait of Hormuz as talks continue amid ongoing regional tensions.
Investors increasingly expect the Bank of Japan to raise rates sooner as the yen weakens toward a four-decade low and inflation concerns tied to Middle East tensions reemerge.
Two Israeli banks, Bank Hapoalim and Israel Discount Bank, plan to stop providing correspondent banking services to Palestinian lenders, threatening cross-border payments and imports. The pause—set for Sep 1 and Oct 1 respectively—follows years of pressure on the Palestinian financial sector and has the Palestinian Monetary Authority warning that the economy is weeks from a full crisis, with potential shortages of fuel, medicine and food and wider liquidity and collateral risks. Banks say the move is under review and that responsibility rests with the state, while international reviews have found Palestinian controls generally meet standards.
Tensions escalate as Trump signals broader U.S. involvement in the Iran conflict, while Tehran disrupts Red Sea shipping to pressure global oil flows, raising costs and threatening energy supplies.
Iran launched a fresh round of strikes on Washington’s Gulf allies after the United States bombed Iran for a seventh consecutive night following the collapse of a ceasefire deal. Both Iran and Kuwait said the attacks hit desalination plants, a crucial water source; Kuwait reported a fire at a power and desalination plant, with desalination supplying about 90% of its drinking water. Tasnim quoted authorities saying about 10,000 people could face water shortages after a U.S. strike on a desalination facility. U.S. Central Command said it had hit surveillance sites, military logistics infrastructure, underground weapons storage, and maritime capabilities. Bahrain and Jordan intercepted several strikes, and the ceasefire agreed in June was declared over by Trump last week.
In Lake Lucerne, Switzerland, the US and Iran pursue a 60-day framework to end decades of tensions, but both sides issue public threats: Trump vows to strike Iran over Hezbollah actions, while Iran’s negotiator warns the US to beware of its statements as Tehran insists its armed forces are ready to respond; the talks are complicated by Lebanon-Israel tensions, Hezbollah, and Iran’s push to keep the Strait of Hormuz open as negotiators seek a broader peace deal.
Oil prices slipped to three-month lows as markets weigh details of a U.S.-Iran peace framework, with Brent around $80.91 and WTI near $78.46. While tanker bosses welcomed the prospect of resumed Hormuz transit, officials cautioned that any normalization will take weeks and require concrete, real-world assurances, even as some shipping firms look for limited passage in the near term.
Pakistan's prime minister said a peace deal between the United States and Iran is likely to be finalised within the next 24 hours, with electronic signing and follow-up technical talks planned. The claim comes as Islamabad mediates between Washington and Tehran amid ongoing tensions, drone-related incidents near the Strait of Hormuz, and conflicting public accounts of the draft terms between the two sides.
Donald Trump, via Truth Social, warned of a 'very hard' attack on Iran and the seizure of Kharg Island and other oil infrastructure, signaling a bid to take control of Iran's oil markets; the threat coincides with renewed U.S. strikes and Iranian responses, sending oil prices up as regional tensions intensify across the Gulf, Lebanon and beyond.