Global oil prices are heading for their biggest weekly drop after shipping through the Strait of Hormuz resumed. WTI crude fell to $75 per barrel, losing more than 9% over the week.
Trump canceled strikes on Iran after all parties agreed on the points of the new deal. According to the American leader, the naval blockade will remain in effect until the signing process is completed.
Kuwait has resumed air traffic following Iranian attacks on American bases. The country's international airport has now returned to normal operations.
Iran attacked US bases in Kuwait, Bahrain, and Jordan following strikes on its own territory. Tehran is threatening to completely close the Strait of Hormuz.
Kuwait suspended air traffic due to Iran's shelling of US military facilities. The IRGC announced the launch of 12 ballistic missiles at airbases in the region.
Qatari mediators have arrived in Tehran following an exchange of strikes between the US and Iran. The parties attacked bases and facilities in the area of the Strait of Hormuz.
Washington attacked Iranian facilities in response to the destruction of an Apache helicopter. Tehran claimed missile strikes on US bases in Jordan and Kuwait.
The OPEC+ alliance agreed to increase production by 188,000 barrels per day starting in July. Seven countries plan to fully lift restrictions by the end of September.
The US shot down two Iranian drones that threatened vessels in the Strait of Hormuz. In the latest exchange of fire, the US also shot down Iranian drones on Friday night and attacked radar stations.
The US intercepted Iranian missiles and attacked its radars in the Persian Gulf. Kuwait and Bahrain issued alerts due to the threat of airstrikes.
A person was killed and dozens were injured as a result of the Iranian attack on the airport and diplomatic missions of Kuwait. The US called the incident a deliberate attack by Tehran.
Oil prices rose by 2% due to Iranian attacks on Kuwait and U. S. strikes. A terminal at Kuwait's airport was damaged, and aviation operations have been partially restored.
Iran launched missiles at Kuwait and Bahrain, which were intercepted by US air defenses. In response, American forces destroyed a control station on Qeshm Island.
The price of gold stands at $4,490 per ounce due to the conflict in the Middle East. Trump has stated a possible peace deal with Tehran despite new attacks.
American fighter jets destroyed Iranian radars and drones in response to the downing of a US UAV. Trump has introduced amendments to the ceasefire agreement.
Global oil prices rose by 3% after Iran's strike on a US airbase. The escalation occurred against the backdrop of a six-week decline in raw material inventories in the United States.
The IRGC announced a strike on a US base in response to the attack in Bandar Abbas. Kuwait reported the interception of missiles and drones by air defense systems.
Britain and the Gulf states are finalizing free trade negotiations. The deal is expected to contribute up to £3.1 billion annually to the British economy.
The price of gold fell to $4,689 after Trump rejected Iran's peace plan. Investors are awaiting U.S. inflation data amid attacks in the Gulf.
A commercial vessel was attacked in Qatari waters, causing a fire on board. There were no casualties; the ship has arrived at port, and an official investigation is underway.
Saudi Arabia and Kuwait have lifted restrictions for the US military in the Strait of Hormuz. Operation Project Freedom could resume as early as this week.
The US military struck the ports of Qeshm, Bandar Abbas, and the Bandar Kargan point. As a result, Saudi Arabia and Kuwait have restricted US access to bases.
Four UAE tankers turned off their trackers to pass through the Strait of Hormuz. The country is attempting to maintain oil exports despite the threat of Iranian attacks.
Zelenskyy discussed diplomacy in the Middle East and condemned Iran's strikes on the UAE. Ukraine is preparing new security solutions for Bahrain and the Gulf countries.
The U. S. is withdrawing 5,000 troops from Germany due to a conflict between Trump and Merz. NATO is examining the details of the decision and calling on Europe to strengthen its own security.
The US State Department has approved the sale of $8. 6 billion worth of weapons to the Middle East, bypassing Congress. The decision was justified by an emergency situation due to the conflict with Iran.
Pete Hegseth will testify in Congress for the first time about the war with Iran and the $1. 5 trillion budget. He is accused of waging war without the consent of lawmakers.
The IRGC will attack the oil facilities of its neighbors if their land is used to attack Iran. The fields of the UAE, Saudi Arabia, and other countries are under threat.
Iraqi groups attacked Kuwait airport and facilities in the Persian Gulf. The US warns of new attacks.
Due to the underproduction of 500 million barrels of oil, the global market lost $50 billion. The Persian Gulf countries and the aviation industry suffered the biggest losses.
