New York Times: A U.S. Navy destroyer on Sunday attacked and seized an Iranian cargo ship that defied an American blockade of Iran’s ports, President Trump said, posing a fresh threat to the fragile cease-fire that is set to expire this week.
Mr. Trump announced the attack hours after a White House official said the U.S. was dispatching a high-level delegation including Vice President JD Vance to peace talks in Pakistan, even as Iranian state media said Tehran had not yet agreed to a meeting…
Iranian military warns it will respond after US ship seizure, state media reports
“The ‘aggressor United States,’ by violating the ceasefire and engaging in maritime highway robbery, attacked an Iranian commercial vessel in the waters of the Sea of Oman,” Iran’s military said, according to Iran’s state broadcaster IRIB in a post on Telegram…
Trump Says Iran Talks Are On, Sparking Push to Bridge Gaping Divides
Vice President JD Vance is expected to lead a new round of peace talks with Iran in Pakistan this week in a fresh effort to end the war, but there still appear to be significant gaps between both sides as the U.S. pushes Iran to lock up its nuclear program and reopen the Strait of Hormuz…
U.A.E. Asks U.S. About a Wartime Financial Lifeline
Emirati officials speak with Treasury Secretary Scott Bessent about accessing dollars if Middle East conflict drags on…
Energy Secretary Says Gas Prices May Stay Above $3 Until 2027
Secretary of Energy Chris Wright said on Sunday that gasoline prices in the United States had probably peaked but acknowledged that they could remain elevated for months, undermining President Trump’s earlier claim that high fuel prices would be “short-term.”…
Oil Prices Jumped and Stock Futures Fell on Renewed Iran Conflict
Oil prices shot higher and stocks sank on Sunday evening after a weekend of renewed conflict around the Strait of Hormuz dampened hope that the waterway might soon reopen…
Impact of Iran war will hurt US even after conflict ends, economists warn
“We were on a very good trajectory of inflation going down. Now there is somewhat [of a] reversal,” Kristalina Georgieva, managing director of the IMF, told the FT. “What we see is that short-term inflation expectations have moved up here in the United States.”
Across the world, she said, the fallout from the conflict would not “evaporate overnight even if the war ends tomorrow”…
Big Oil Plows Billions Into Far-Flung Drilling Sites to Escape Iran Turmoil
Exxon recently outlined a potential plan to pump up to $24 billion into Nigeria’s deep-water oil fields, while Chevron expanded its footprint in Venezuela. BP bought stakes in oil blocks off the coast of Namibia, and TotalEnergies signed an exploration deal with Turkey. Major oil companies could together create $120 billion in value from their exploration ventures in coming years, the energy research and consulting firm Wood Mackenzie estimated Thursday…
UAE official: More than 90% of Iran’s targets were civilian infrastructure
The minister of state said Iran had hit the United Arab Emirates with over 2,800 missiles and drones since the start of the war…