Stocks around the world climbed to fresh record highs on Wednesday (6 May), while oil prices fell sharply, after reports suggested the United States and Iran were nearing an agreement to end conflict.
U.S. President Donald Trump said that Iran wanted to negotiate and make a deal in comments to reporters on Wednesday (6 May). But earlier, he warned Washington would ramp up attacks if no agreement was reached.
While the U.S. and Iran exchange strong messages over the Strait of Hormuz, their words may be misunderstood and lead to wider instability across the whole of the Middle East, according to a Baku-based political commentator.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 6th of May, covering the latest developments you need to know.
The United Arab Emirate said it was dealing with missile and drone attacks from Iran for the second day in a row on Tuesday (5 May), despite denials from authorities in Tehran who threatened a "crushing response" if the UAE retaliated.
The U.S. and Iran launched new attacks in the Gulf on Monday as they wrestled for control over the Strait of Hormuz with duelling maritime blockades, shaking a fragile ceasefire.
Iran warned Armerican forces on Monday (4 May) not to enter the Strait of Hormuz, after the U.S. said it had launched a mission to try and reopen the sea passage. Meanwhile, Iran's Foreign Minister said there was no military solution to the Middle East conflict.
The commander of Iran’s Khatam al-Anbia Central Command has warned the U.S. against deploying forces to escort vessels through the Strait of Hormuz, saying any such move would be met with force.
The Organization of the Petroleum Exporting Countries (OPEC) exit by the United Arab Emirates has largely been viewed through a narrow economic lens: higher Emirati output, potential increases by Saudi Arabia and others to protect market share, and downward pressure on global prices.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 4th of May, covering the latest developments you need to know.
Kazakhstan, Russia, Saudi Arabia and other key OPEC+ countries have agreed a paper-based modest oil output hike for next month, raising the output targets to 188,000 barrels a day in June.
President Trump has issued a warning to the international community, claiming a nuclear-armed Iran would strike Israel "very quickly" before targeting Europe and the United States.
U.S. President Donald Trump told reporters he was "not satisfied" with Iran's latest peace proposal, which was delivered to Washington via Pakistani mediators on Friday (1 May).
Tensions between Washington and Tehran remain elevated after renewed warnings from U.S. President Donald Trump that military action against Iran has not been ruled out, alongside claims that Iranian leadership is eager to reach a deal.
The Iranian leaders have commemorated the National Day of Persian Gulf stressing Tehran’s control over the Strait of Hormuz amid the U.S. maritime blockade of Iran’s southern ports, a fragile ceasefire, and stalled negotiations.
Iran’s Supreme Leader Mojtaba Khamenei warned “foreigners who commit evil” have no place in the Gulf, outlining a “new phase” for the Strait of Hormuz, while a senior adviser said U.S. blockade efforts would fail and could trigger confrontation.
Iran said on Thursday it would respond with “long and painful strikes” against U.S. positions if Washington resumed attacks, while also reasserting its claim over the Strait of Hormuz, complicating U.S. plans to form a coalition to reopen the waterway.
In the Gulf, U.S. military bases have long been central to regional security. But rising tensions and shifting global dynamics are prompting new questions about what they protect - and whose interests they serve.
European airlines are facing their biggest challenge since the COVID-19 pandemic as the Iran war pushes up jet fuel prices and buffets travel through the Middle East, casting a shadow over the summer holiday season.
Iran could lose up to $435 million in oil exports due to a U.S. naval blockade, though a full institutional collapse remains unlikely, according to a geopolitical researcher.
Profits for worldwide energy company TotalEnergies have risen 41% in three months, as global energy supplies are disrupted after two months of war and oil prices have increased by 3%.
Iran’s Ambassador to the United Nations, Amir-Saeid Iravani, has asserted Tehran’s right to respond after accusing the U.S. of “state-sponsored piracy” following the seizure of two oil tankers.
Efforts to end the Iran conflict were at an impasse on Tuesday with U.S. President Donald Trump unhappy with the latest proposal from Tehran, which he said had informed the U.S. it was in a "state of collapse" and figuring out its leadership situation.
Tensions between the United States and Iran remain high after a U.S. official said President Donald Trump was unhappy with a proposal from Tehran that does not deal with its nuclear programme. Washington is insisting that any talks must address Iran’s nuclear activities.
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