International relations, geopolitics, wars, major global shifts
The Pentagon released video of US military strikes on two Iranian oil tankers in the Strait of Hormuz. The incident raises immediate concerns about energy supply security and potential escalation in one of the world's most critical oil shipping lanes.
U.S. fighter jets struck Iranian vessels in the Strait of Hormuz on Friday as part of an ongoing American blockade, while Secretary of State Rubio urged European allies in Rome to help reopen the waterway.
U.S. forces fired on and disabled two Iranian tankers in the Strait of Hormuz, the latest in a series of direct strikes on Iranian vessels. The attacks raise serious doubts about a month-old ceasefire the U.S. has insisted remains in effect, and could push oil prices higher if Iran retaliates.
President Trump announced a three-day ceasefire between Russia and Ukraine, paired with a 1,000-prisoner swap from each side. The short truce is a confidence-building step, not a peace deal, with its durability depending on front-line compliance from both sides.
President Trump announced on social media that Russia and Ukraine agreed to a three-day ceasefire from Saturday through Monday, coinciding with Russia's Victory Day holiday, along with a prisoner swap. The pause stops short of any lasting truce and its real test will be whether fighting actually halts on the ground.
The UAE Defense Ministry said Iranian ballistic missiles and drones struck toward UAE territory, with air defenses intercepting five projectiles and three people wounded. The attack followed a separate U.S.-Iran military exchange, signaling a sharp escalation in the Gulf.
U.S. forces struck two Iran-flagged oil tankers attempting to bypass a naval blockade, even as President Trump insists a ceasefire with Iran remains in effect. The incidents threaten Iran's oil export revenues and raise questions about whether the truce can hold.
U.S. forces fired on and disabled two Iranian tankers attempting to breach an American naval blockade of Iran's ports in the Gulf of Oman. The incident puts fresh pressure on a ceasefire already described as shaky, with potential knock-on effects for oil flows through the Strait of Hormuz.
Iran has not formally responded to the latest US ceasefire proposal, with officials on both sides indicating a large gap remains between their positions. The stalled talks keep uncertainty high over sanctions, oil supply, and regional stability.
US employers added 115,000 jobs in April, beating expectations despite economic disruption from the Iran conflict. Wage growth of 3.6% year-on-year stayed in line with the Fed's 2% inflation target, reducing pressure for an emergency rate cut.
Early results from UK local elections show Nigel Farage's hard-right Reform UK making sweeping gains while Prime Minister Keir Starmer's Labour suffers significant losses. The results mark a potential turning point in British politics less than a year after Labour's 2024 general election landslide.
Labour has suffered early losses in UK local council elections, with Reform UK and the Greens both making gains. The results signal voter pressure on Keir Starmer from both the right and left, though no formal leadership challenge has emerged.
China's foreign ministry confirmed a Chinese-crewed oil products tanker was attacked in the Strait of Hormuz and said it is deeply concerned about vessels caught in the Middle East conflict.
Trump's decision to strike Iran without notifying NATO allies has intensified pressure on European members to take on greater leadership within the alliance. The episode is accelerating a structural shift away from U.S.-led decision-making that European governments had already begun preparing for.
Oil prices rose after US and Iranian forces exchanged fire in the Strait of Hormuz, a key global oil shipping lane. President Trump said the ceasefire between the two countries remains in place, limiting the market spike.
A US-Iran ceasefire has held since April 8, but no peace deal has been reached, leaving the Strait of Hormuz, through which roughly 20% of global oil flows, under sustained uncertainty. The unresolved standoff keeps an oil-price risk premium in place and poses direct supply risks for major importers like India.
Iran accused US forces of breaching a ceasefire near the Strait of Hormuz, while CENTCOM said its forces responded to Iranian attacks. The conflicting claims threaten the ceasefire's stability and raise risks for oil shipping through one of the world's busiest energy corridors.
A U.S. federal court has struck down President Trump's 10% global baseline tariffs, calling them invalid and unauthorised by law. Experts say the ruling may slow India-U.S. Bilateral Trade Agreement talks, as legal uncertainty makes it harder for both sides to negotiate around a contested tariff baseline.
President Trump has set a July 4 deadline for the EU to ratify a trade deal with the U.S., threatening significantly higher tariffs if no agreement is reached. The ultimatum puts pressure on Brussels to unify its negotiating position quickly or risk escalating levies on key European exports.
Oil prices dropped after reports that the US and Iran are nearing a peace agreement, which could lift sanctions and allow more Iranian crude into global markets. Higher expected supply is pushing prices lower, with potential relief for oil-importing economies like India.