US-Iran nuclear talks have collapsed after President Trump called off negotiations, leaving two major economies in direct confrontation with no clear path to resolution. The breakdown ends what had been a brief window of diplomatic engagement and raises the risk of a prolonged standoff. Iran is a significant oil producer, and sustained tension with the US has already pushed energy prices to multi-year highs. Higher oil prices feed directly into transport, manufacturing, and consumer goods costs, adding pressure to inflation that central banks in many countries are still trying to bring down. The combination of elevated energy costs and geopolitical uncertainty has also weighed on global growth forecasts. With talks now off the table, markets will watch for any escalation in sanctions enforcement, shipping disruptions in key oil routes, or moves by Iran to accelerate its nuclear programme. Each of those scenarios could push energy prices higher and keep inflation sticky for longer.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
Venezuela's twin earthquakes, magnitudes 7.2 and 7.5, have killed at least 164 people and injured 971, interim president Delcy Rodriguez confirmed Thursday. The quakes are the country's strongest since 1900, collapsing buildings across Caracas and prompting a state of emergency, with the death toll expected to rise as
