Headlines

U.S. President Donald Trump said on Friday that he does not believe China or Russia are "participating" in the ongoing Iran conflict, but warned that if they did get involved "it would be very bad for them." "President Xi, at our recent meeting in Beijing, China, told me that he would not, under any circumstances, give or sell Weapons to the Islamic Republic of Iran — And that statement included Chinese Companies," he wrote on Truth Social. Trump said Putin had also told him that he would not [Read more]

Pakistan is exploring a path towards a resumption of stalled U.S.-Iran talks over ending their nearly five-month-old war, three Pakistani sources said, following a push initiated by China. Exploratory discussions took place during a visit by Iran's Interior Minister Eskandar Momeni to Islamabad this week — his second within the last 10 days, the sources said. Momeni, who is considered close to Iran's Revolutionary Guard Corps, met with Pakistani government leaders and army chief Asim Munir [Read more]

Deepening conflict in the Middle East has sent oil prices surging and Treasury yields climbing to levels that have equity investors on edge, raising fears that pain so far largely contained in the bond market could soon spill over into U.S. stocks. Oil prices spiked to $100 a barrel for the first time since May this week, as the renewed hostilities revived investor worries over global supply disruptions from a near-halt in trade through the Strait of Hormuz. Oil prices eased to just below $100 [Read more]

U.S. missiles struck targets across Iran, reaching as far as its Caspian coast, on Friday after President Donald Trump vowed "major military punishment" for Tehran and its Houthi allies in Yemen for extending the Middle East war to a second major shipping chokepoint, the mouth of the Red Sea. Two weeks after the collapse of an interim truce meant to end the war, the Iranian armed forces responded by firing at U.S. bases in neighbouring Arab countries and warning people there that they may strike [Read more]

Danish-flagged oil products tanker Torm Innovation will sail to Asia via the Suez Canal with its cargo due to the security situation in the southern Red Sea, the vessel’s owner Torm said on Friday. The Iran-aligned Houthis on Monday declared a naval blockade against Saudi Arabia, opening a potential new front against the United States in its war with Iran and raising the threat to global energy supplies and trade beyond the Gulf. "Given the security situation in the southern part of the Red [Read more]

SLB beat expectations for second-quarter profit on Friday, as resilient demand across key markets helped the top U.S. oilfield services firm ride out weakness in the Middle East due to the Iran war, sending its shares up 2% before the bell. Frequent flare-ups in the war, now in its fifth month, have kept a crucial oil-producing region on edge, with Iran now seeking to shut the Bab el-Mandeb gateway ​to the Red Sea after choking off shipping through the Strait of Hormuz. The Middle East is [Read more]