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Month four of Hormuz blockade: Oil prices jump after Iran attacks Kuwait, Bahrain
Oil prices jumped over 1% on Wednesday as tensions in the Middle East continued to intensify after Iran launched missiles towards Kuwait and Bahrain. At the same time, peace efforts between Tehran and Washington yielded no breakthrough and the Strait of Hormuz disruption continued for 96th day. Brent crude futures gained $1.05, or 1.09%, to reach $97.05 a barrel, while US West Texas Intermediate (WTI) crude advanced $1.01, or 1.08%, to $94.77.
100 days of Iran war: Gulf states grapple with security and economic consequences
Iran war at 100 days: Gulf states grapple with stability June 4, 2026For the regional Gulf Cooperation Council (GCC) states — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) — the consequences of the US-Israeli conflict with Iran extend far beyond immediate military threat. Since February 28, when the US and Israel launched joint strikes on Iran, and despite a nominal ceasefire, the GCC countries, have been performing a difficult balancing act. Key...
Cooper defends UK-France’s Strait of Hormuz plan amid Rubio ‘catch-22’ claim
Cooper defends UK-France’s Strait of Hormuz plan amid Rubio ‘catch-22’ claim The narrow Gulf channel has become a flashpoint in the conflict, now in its fourth month - Bookmark - CommentsGo to comments Yvette Cooper has defended the UK and France’s proposed mission to secure the Strait of Hormuz once the Iran war ends, despite US Secretary of State Marco Rubio labelling the plan a "catch-22". The Foreign Secretary stated that the initiative, designed to support vessels in the crucial global...
Why China is buying less Iranian oil - explained in charts
The Strait of Hormuz, just 29 nautical miles (54 km) wide at narrowest point may be one of the world's most critical oil chokepoints. But as disruptions rattles the waterway, an unexpected trend is emerging, as China which is Iran's biggest oil customer is buying significantly less crude. While Beijing continues to rely on Tehran for discounted oil, weaker domestic demand, refinery cutbacks, record stockpiles and the rapid rise of electric vehicles have reduced its need for fresh imports.
US military says it intercepted Iranian missile and drone attacks in Gulf
The US military said on Tuesday that it had intercepted and defeated a series of Iranian missile and drone attacks targeting regional neighbours, including Kuwait and Bahrain, while also carrying out self-defence strikes on Iran’s Qeshm Island, according to US Central Command. Follow our liveblog for the latest developments. Oil rises on Middle East tensions as AI-fuelled stock rally continues Oil prices extended gains on Wednesday as Middle East peace talks stuttered, though stocks mostly...
Oil prices rise as new Middle East hostilities flare and talks stall
Oil prices rise as new Middle East hostilities flare and talks stall June 3 : Oil prices climbed more than 1 per cent in early trade on Wednesday as hostilities in the Middle East erupted anew with Iran firing missiles at Kuwait and Bahrain, while diplomatic talks between Iran and the United States showed little progress. Brent futures rose $1.05, or 1.09 per cent, at $97.05 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.01, or 1.08 per cent, to settle at $94.77. Both...
Pakistan’s Naqvi visits Iran with ‘special letter’ for supreme leader
Pakistan’s Naqvi visits Iran with ‘special letter’ for supreme leader Mediator Pakistan ramps up diplomatic efforts to end US-Iran war as Gulf countries warn of escalation. Pakistan’s Interior Minister Mohsin Naqvi has travelled to Iran to deliver a “special letter” to Iran’s Supreme Leader Mojtaba Khamenei as part of diplomatic efforts to end the United States-Israeli war on Iran, which began 100 days ago. Naqvi arrived in the Iranian capital, Tehran, late on Saturday, and met his Iranian...
Iran-US war latest: US launches ‘self-defence’ strikes on Iran island and downs missiles targeting Gulf allies
Iran-US war latest: US launches ‘self-defence’ strikes on Iran island and downs missiles targeting Gulf allies Donald Trump claims he told Tehran ‘It's time’ for them to ‘make a Deal’ - Bookmark - CommentsGo to comments The US military says that Iranian missiles fired at Kuwait and Bahrain failed or were shot down, and that the US launched strikes on an Iranian facility in response. US Central Command said the strikes were on an Iranian military ground control station on Qeshm Island, near...
Middle East: US and Iran trade fire amid stalled talks
Middle East: US and Iran trade fire amid stalled talks Published June 3, 2026last updated June 3, 2026What you need to know - US military said it carried out strikes on Iran's Qeshm Island "in response to attempted attacks by Iran" - US military also said Iranian missiles fired toward Bahrain and Kuwait had "failed to hit their intended target" - Iran's Islamic Revolutionary Guards said they fired at US military installations in response to the US strikes on Qeshm Island in the Strait of...
Israel, Lebanon renew ceasefire after US-brokered talks
Israel, Lebanon renew ceasefire after US-brokered talks Published June 3, 2026last updated June 4, 2026What you need to know - Israel and Lebanon agree to renew their ceasefire after talks at US State Department - Iran has been insisting that hostilities between Israel and Hezbollah in Lebanon must also end before a deal can be reached with the US - Earlier on Wednesday, the US military carried out strikes on Iran's Qeshm Island in the Strait of Hormuz "in response to attempted attacks by...