International relations, geopolitics, wars, major global shifts
The US and Iran have exchanged strikes but both governments are signaling they want to avoid full-scale war. Proxy attacks, economic pressure, and oil market exposure keep the standoff volatile and make miscalculation the biggest near-term danger.
Iran has reportedly launched missiles as President Trump considers a deal to pause the conflict for two months. Trump says he feels no pressure to reach an agreement before November's midterm elections, keeping the diplomatic timeline open-ended.
Oil prices eased after reports emerged that the US and Iran may be nearing a ceasefire deal, reducing the geopolitical risk premium in crude markets. A formal agreement could eventually lead to more Iranian oil supply, pressuring prices further.
Oil prices slipped while stocks edged higher as traders awaited President Trump's decision on a potential US-Iran nuclear deal. A completed agreement could return Iranian crude to global markets, pressuring oil prices even as reduced geopolitical risk supports equities.
U.S. forces launched new defensive strikes against Iran on Wednesday as President Trump said the approaching midterm elections would not pressure him into a quick deal. The conflict raises risks for oil supply routes and energy prices, with no resolution timeline in sight.
Kuwait activated its air defenses against missile and drone threats as the United States launched a new wave of strikes on Iran. The dual developments point to a rapidly escalating military situation in the Gulf, with direct consequences for oil markets and regional security.
US forces shot down four Iranian drones and struck a control station near Bandar Abbas; Iran's Revolutionary Guard responded by targeting a US airbase. Oil prices jumped more than 3 percent as the exchange threatened the fragile ceasefire in place since early April.
US military strikes on Iran, including the downing of four drones and a hit on a control centre in Bandar Abbas, pushed Brent crude up 1.8 percent to $95.95 on Thursday.
Jill Biden tells CBS News she feared Joe Biden was having a stroke during his June 2024 debate against Donald Trump, saying she had never seen him like that. The admission directly contradicts the Biden team's earlier claim that the performance was due to fatigue and a cold.
Jill Biden told CBS News she had never seen Joe Biden perform the way he did during the 2024 presidential debate, describing the moment as unlike anything she witnessed before or after that night. The comment is her most candid public statement about an event that ultimately led to Biden withdrawing from the race.
Israel announced it killed the newly appointed chief of Hamas's Izz ad-Din al-Qassam Brigades in a Gaza strike. The killing targets Hamas's military command structure and could affect ongoing ceasefire and hostage negotiations.
Brent crude fell below $95 a barrel on Wednesday, dropping roughly 5%, after signals of progress in US-Iran talks raised hopes that Iran could reopen shipping through the Strait of Hormuz.
Global oil prices rose roughly 3% after U.S. military strikes on Iran raised fresh fears of supply disruption, with the Strait of Hormuz remaining partially restricted. The move puts pressure on oil-importing economies and clouds prospects for a diplomatic deal that could have added Iranian supply to global markets.
The U.S. has launched military strikes on Iran, describing the action as self-defense while saying it still supports peace negotiations. The strikes raise immediate risks for regional stability, oil supply routes, and global energy prices.
India and the US have signed a critical minerals agreement aimed at diversifying American supply chains away from China. The deal could draw investment into India's mining sector and strengthen bilateral trade ties in strategic technology industries.
Russia told Secretary of State Marco Rubio that American citizens should leave Kyiv, warning that Moscow plans "systematic and consistent strikes" on the Ukrainian capital. The formal diplomatic warning signals a deliberate escalation in Russia's stated military posture toward the city.
India and the U.S. signed a critical minerals framework covering mining and processing, on the sidelines of the Quad Foreign Ministers' meeting in New Delhi. The deal targets supply chain diversification away from China, which dominates global processing of minerals essential for batteries, chips, and defence.
The US military struck missile sites and mine-laying boats in southern Iran, calling the action self-defence. The strikes raise the risk of direct escalation near the Strait of Hormuz, a critical chokepoint for global oil supply.
US forces have struck southern Iran while military command says it will maintain restraint under an ongoing ceasefire. President Trump separately declared that Iran's enriched uranium will be destroyed, signaling strikes may target nuclear stockpiles with major consequences for regional stability and oil markets.
Iranian President Masoud Pezeshkian has ordered the restoration of internet services after months of blocked access. The move immediately reopens communication and information channels for millions of Iranians and comes as Iranian officials are engaged in diplomatic talks in Qatar.