International relations, geopolitics, wars, major global shifts
President Trump confirmed the US naval blockade on Iran's ports will remain until Tehran agrees to a nuclear deal. The move targets Iran's oil exports and broader trade, raising questions about escalation risk. Democrats questioned Pentagon leaders about the military and diplomatic path forward.
Brent crude is near $120 a barrel after Trump said the US naval blockade of the Strait of Hormuz will continue until Iran agrees to a nuclear deal. The Strait carries about 20% of global oil supply, making the standoff a direct threat to energy markets worldwide.
Brent crude hit $120 a barrel Thursday as U.S. sanctions on Iranian oil exports tightened and nuclear negotiations stalled. Sustained supply disruption from Iran, a major producer, is driving the rally. Markets are watching whether diplomacy restarts or sanctions enforcement intensifies.
President Trump said a US naval blockade of Iranian ports could last months and is more effective than bombing. Oil prices surged as markets factored in the risk of prolonged Iranian crude supply disruption. The duration and international compliance with the blockade are now key variables to watch.
U.S. crude oil crossed $100 a barrel after the Strait of Hormuz stayed closed due to a standoff involving Iran. The closure cuts off a major global oil route, lifting energy prices and pulling the S&P 500 lower as investors weigh rising costs.
Oil prices surged above $120 per barrel as a standoff in the Strait of Hormuz escalated, with Trump urging Iran to stand down. The strait carries around a fifth of global oil supply, making any disruption there an immediate shock to energy markets.
The Senate Banking Committee voted along party lines to advance Kevin Warsh's Fed chair nomination to the full Senate. All 13 Republican panel members supported him, with no Democratic votes. A final Senate floor vote is the last step before confirmation.
Trump says Putin told him he wants to be involved in settling the Iran nuclear enrichment dispute. A Russian role would add a significant new dimension to US-Iran negotiations. No format, timeline, or conditions for that involvement have been disclosed.
The US Federal Reserve held rates steady for the third straight meeting, with Jerome Powell pointing to energy prices and supply disruptions as key risks. A rate pause eases pressure on the Indian rupee and reduces capital outflow risk, but high crude oil prices remain a concern for India's import bill.
Jerome Powell said he will stay on the Federal Reserve board as a governor after his chairmanship ends May 15, though he did not say for how long. His continued board presence means he retains a vote on US interest rate decisions even after stepping down as chair.
The US Federal Reserve kept interest rates unchanged at 3.5, 3.75 percent, citing inflation concerns and global economic pressure. The decision came at what is expected to be Jerome Powell's final meeting as Fed chair. A leadership transition at the Fed could shift how future rate decisions are made.
Trump said the US naval blockade on Iranian ports will stay, calling it more effective than airstrikes. Oil prices rose as markets weighed the risk of extended supply disruption from Iran. Tehran warned of 'practical' action in response.
The U.S. Federal Reserve kept interest rates unchanged but faced four internal dissents, an unusually high level of disagreement. Three officials wanted to drop language hinting at future cuts, while Stephen Miran pushed for an immediate cut. The split puts future rate guidance firmly in play.
Defence Secretary Pete Hegseth faced Democratic lawmakers for the first time since the US entered a war with Iran, costing $25 billion so far. Hegseth dismissed criticism as "reckless, feckless and defeatist," signalling the administration has no plans to change course. The war's cost and justification are now set to
The US Federal Reserve is holding its April FOMC meeting with markets expecting no rate cut, as elevated energy prices and US-Iran tensions complicate the outlook. Jerome Powell's post-meeting remarks will be closely watched for any change in tone on inflation or growth. A hawkish hold could keep borrowing costs high
Defense Secretary Pete Hegseth told Congress the U.S.-Iran war has cost $25 billion, his first Capitol Hill appearance since the conflict started. He sharply criticized lawmakers in both parties who have questioned the war. The figure sets a baseline for future spending debates and potential oversight moves.
Crude oil surged to $117 a barrel after reports of a possible extended blockade on Iran raised fears of a supply squeeze. Iran is a major oil producer, so a prolonged disruption could tighten global supply and keep prices elevated. Oil-importing economies like India face immediate pressure on fuel costs and trade
Kevin Warsh cleared a Senate committee vote, moving him closer to becoming the next Federal Reserve chair under Trump's nomination. His independence from White House influence is the key concern for markets and lawmakers. A full Senate floor vote is the next step.
A senior Pentagon official put the U.S. war in Iran at $25 billion in costs so far, marking the first official military price estimate for the conflict. The figure sets a baseline for congressional budget debates and defense spending expectations.
President Trump told Reuters that Iran intends to make an offer aimed at satisfying U.S. demands. Talks are expected to resume in Pakistan, marking a continued diplomatic push over Iran's nuclear program. The content and timing of Iran's offer have not been disclosed.