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President Trump cancelled planned US military strikes against Iran on Thursday, saying diplomatic talks had made enough progress to stand down. The reversal, coming hours after Trump threatened to hit Iran very hard, removes immediate conflict risk but leaves the broader standoff unresolved.
President Trump called Iran's latest ceasefire proposal "totally unacceptable," throwing peace talks into doubt. A return to open conflict could reignite the Middle East war and worsen the ongoing global energy crisis.
The Indian rupee dropped 139 paise to 94.90 against the dollar in early trade after President Trump rejected Iran's response to a US nuclear peace proposal. The geopolitical flare-up has raised fears of rising oil prices, which directly pressures India's import bill and currency.
China has officially confirmed a visit by U.S. President Donald Trump to Beijing, setting up a direct summit between the two countries. The meeting could shift market expectations on trade tariffs, technology restrictions, and broader U.S.-China relations.
Trump has set a 4 July deadline for the EU to formally enact a trade deal and cut tariffs on US goods to zero. Failure to comply risks new US tariffs on European exports, with potential knock-on effects for transatlantic trade and markets.
President Trump announced Project Freedom, a program to help commercial ships navigate the Strait of Hormuz, threatening "forceful" responses to interference. Details on how it operates remain unclear, leaving markets and shipping firms with little concrete guidance so far.
President Trump said the U.S. will act to free ships stuck in the Persian Gulf after the Strait of Hormuz was closed to traffic for months. The blockage has disrupted global oil and gas supply chains, with significant exposure for Asian economies including India.
President Trump said Iran wants a nuclear deal but that he is not satisfied with the current terms. The statement keeps talks alive while signaling a significant gap remains between U.S. and Iranian positions, with potential consequences for oil markets and regional security.
Trump said he is likely to reject a peace proposal involving Iran, stating the country has "not yet paid a big enough price." The hardened stance reduces near-term prospects for a deal and raises energy market risk given Iran's role in global oil supply.
Trump's prediction of a short, low-cost conflict with Iran is facing pressure as the war proves more prolonged and unpopular than the White House projected. Sustained fighting near the Strait of Hormuz risks lifting oil prices and creating economic and political costs for the administration.
President Trump formally told Congress on Friday that hostilities with Iran have "terminated," invoking the language of the War Powers Resolution ahead of a key 60-day deadline. The declaration removes immediate legal pressure on the administration to seek congressional authorization for continued military action.
President Trump sent letters to Congress declaring that U.S. military hostilities against Iran have "terminated," a legal move to avoid seeking congressional authorization under the War Powers Resolution. The framing shifts the burden to Congress to challenge his definition of when the conflict ended.
President Trump said he is reviewing Iran's latest nuclear proposal after rejecting it the day before, clarifying he had only been briefed on the "concept of the deal." He expressed doubt the offer will be acceptable, leaving U.S. policy toward Iran in an unsettled position with no formal response yet.
President Trump described the US Navy's enforcement of a blockade at the Strait of Hormuz as acting "like pirates" and called it "a very profitable business." The strait carries roughly 20% of global oil trade, making any sustained disruption a direct risk to crude prices and Iranian export revenue.
President Trump formally told Congress the Israel-Iran ceasefire means hostilities have "terminated," arguing he never needed and still does not need congressional authorisation for military action involving Iran.
Brent crude surged above $111 a barrel and WTI near $106, posting a roughly 12% weekly gain. The rally is driven by fears of a Strait of Hormuz blockade after President Trump intensified his rhetoric on the issue. A disruption there would cut off a major share of global oil supply with no easy alternative route.
Oil prices surged to their highest since 2022 after Axios reported US Central Command has prepared strike plans on Iran to brief President Trump. Energy markets reacted sharply because Iran and the Strait of Hormuz are critical to global oil supply. No decision to strike has been made.
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.
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.
Shots were heard near the White House Correspondents' Dinner, causing guests to scramble for cover. President Trump was not harmed. Details on the source of the gunfire remain unconfirmed.
Tag
President Trump cancelled planned US military strikes against Iran on Thursday, saying diplomatic talks had made enough progress to stand down. The reversal, coming hours after Trump threatened to hit Iran very hard, removes immediate conflict risk but leaves the broader standoff unresolved.
17d ago · 3 min · Global Affairs
President Trump called Iran's latest ceasefire proposal "totally unacceptable," throwing peace talks into doubt. A return to open conflict could reignite the Middle East war and worsen the ongoing global energy crisis.
1mo ago · 2 min · Global Affairs
The Indian rupee dropped 139 paise to 94.90 against the dollar in early trade after President Trump rejected Iran's response to a US nuclear peace proposal. The geopolitical flare-up has raised fears of rising oil prices, which directly pressures India's import bill and currency.
1mo ago · 2 min · Markets
China has officially confirmed a visit by U.S. President Donald Trump to Beijing, setting up a direct summit between the two countries. The meeting could shift market expectations on trade tariffs, technology restrictions, and broader U.S.-China relations.
1mo ago · 2 min · Global Affairs
Trump has set a 4 July deadline for the EU to formally enact a trade deal and cut tariffs on US goods to zero. Failure to comply risks new US tariffs on European exports, with potential knock-on effects for transatlantic trade and markets.
1mo ago · 2 min · Global Affairs
President Trump announced Project Freedom, a program to help commercial ships navigate the Strait of Hormuz, threatening "forceful" responses to interference. Details on how it operates remain unclear, leaving markets and shipping firms with little concrete guidance so far.
1mo ago · 2 min · Global Affairs
President Trump said the U.S. will act to free ships stuck in the Persian Gulf after the Strait of Hormuz was closed to traffic for months. The blockage has disrupted global oil and gas supply chains, with significant exposure for Asian economies including India.
1mo ago · 2 min · Global Affairs
President Trump said Iran wants a nuclear deal but that he is not satisfied with the current terms. The statement keeps talks alive while signaling a significant gap remains between U.S. and Iranian positions, with potential consequences for oil markets and regional security.
1mo ago · 2 min · Global Affairs
Trump said he is likely to reject a peace proposal involving Iran, stating the country has "not yet paid a big enough price." The hardened stance reduces near-term prospects for a deal and raises energy market risk given Iran's role in global oil supply.
1mo ago · 2 min · Global Affairs
Trump's prediction of a short, low-cost conflict with Iran is facing pressure as the war proves more prolonged and unpopular than the White House projected. Sustained fighting near the Strait of Hormuz risks lifting oil prices and creating economic and political costs for the administration.
1mo ago · 2 min · Global Affairs
President Trump formally told Congress on Friday that hostilities with Iran have "terminated," invoking the language of the War Powers Resolution ahead of a key 60-day deadline. The declaration removes immediate legal pressure on the administration to seek congressional authorization for continued military action.
1mo ago · 2 min · Global Affairs
President Trump sent letters to Congress declaring that U.S. military hostilities against Iran have "terminated," a legal move to avoid seeking congressional authorization under the War Powers Resolution. The framing shifts the burden to Congress to challenge his definition of when the conflict ended.
1mo ago · 2 min · Policy & Government
President Trump said he is reviewing Iran's latest nuclear proposal after rejecting it the day before, clarifying he had only been briefed on the "concept of the deal." He expressed doubt the offer will be acceptable, leaving U.S. policy toward Iran in an unsettled position with no formal response yet.
1mo ago · 2 min · Global Affairs
President Trump described the US Navy's enforcement of a blockade at the Strait of Hormuz as acting "like pirates" and called it "a very profitable business." The strait carries roughly 20% of global oil trade, making any sustained disruption a direct risk to crude prices and Iranian export revenue.
1mo ago · 2 min · Global Affairs
President Trump formally told Congress the Israel-Iran ceasefire means hostilities have "terminated," arguing he never needed and still does not need congressional authorisation for military action involving Iran.
2mo ago · 2 min · Policy & Government
Brent crude surged above $111 a barrel and WTI near $106, posting a roughly 12% weekly gain. The rally is driven by fears of a Strait of Hormuz blockade after President Trump intensified his rhetoric on the issue. A disruption there would cut off a major share of global oil supply with no easy alternative route.
2mo ago · 1 min · Markets
Oil prices surged to their highest since 2022 after Axios reported US Central Command has prepared strike plans on Iran to brief President Trump. Energy markets reacted sharply because Iran and the Strait of Hormuz are critical to global oil supply. No decision to strike has been made.
2mo ago · 1 min · Global Affairs
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.
2mo ago · 1 min · Global Affairs
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.
2mo ago · 1 min · Global Affairs
Shots were heard near the White House Correspondents' Dinner, causing guests to scramble for cover. President Trump was not harmed. Details on the source of the gunfire remain unconfirmed.
2mo ago · 1 min · Global Affairs