The US launched fresh airstrikes against Iran, claiming the attacks were in “self-defense”.
American forces “conducted self-defense strikes in southern Iran today to protect our troops from threats posed by Iranian forces,” Central Command’s Captain Tim Hawkins said in a statement shared by US media Monday evening, Washington time.
“Targets included missile launch sites and Iranian boats attempting to emplace mines,” the military spokesperson added.
The strikes come as US President Donald Trump vowed on Truth Social that any buried enriched uranium in Iran “will either be immediately turned over to the United States to be brought home and destroyed,” eradicated in Iran or “at another acceptable location”.
Trump has also demanded that countries including Qatar, Pakistan, Egypt, Jordan and Turkey sign peace agreements with Israel as part of an effort to end the Iran war.
Earlier Monday, Trump said on Truth Social that progress had been made on a draft agreement with Iran but that he would only accept a “great deal for all or no deal at all”.
US Secretary of State Marco Rubio said Monday that the US will either have a good agreement with Iran or deal with the country “another way”.
Key Points
- US launches fresh strikes against Iran
- Trump vows Iran's 'nuclear dust' will be destroyed
- Rubio says Trump will not 'make a bad deal' with Iran
- Trump: More countries should sign Abraham Accords as part of Iran peace deal effort
- 'Only a great deal for all or, no deal at all': Trump
Trump rips into Obama's 'Iran policy' in new post
03:30 , Rachel Dobkin
US President Donald Trump has ripped into former US President Barack Obama’s “Iran policy” in a new Truth Social post.
Trump shared a side-by-side illustration Monday night, Washington time. On the left was a picture of a pallet of cash titled, “Obama’s Iran Policy”. On the right was a picture of a US ship firing strikes titled, “Trump’s Iran Policy”.
During Obama’s second term, Tehran signed the so-called Iran Nuclear Deal. Trump withdrew from the deal in 2018.
The deal restricted Iran’s nuclear program in exchange for the lifting of nuclear-related sanctions, but Trump argued during his first term, “the deal allowed Iran to continue enriching uranium and — over time — reach the brink of a nuclear breakout”.
Rubio says US will give diplomacy 'every chance to succeed' in Iran negotiations
03:00 , Dan Haygarth
Full story: Trump demands multiple countries sign diplomatic deal with Israel as part of any Iran peace plan
02:00 , Dan Haygarth
Trump demands countries sign diplomatic deal with Israel as part of Iran peace plan
Trump vows Iran's 'nuclear dust' will be destroyed
01:11 , Rachel Dobkin
US President Donald Trump has vowed that any buried enriched uranium in Iran, which he calls nuclear dust, “will either be immediately turned over to the United States to be brought home and destroyed,” eradicated in Iran or “at another acceptable location”.
Read Trump’s full Truth Social post:
The Enriched Uranium (Nuclear Dust!) will either be immediately turned over to the United States to be brought home and destroyed or, preferably, in conjunction and coordination with the Islamic Republic of Iran, destroyed in place or, at another acceptable location, with the Atomic Energy Commission, or its equivalent, being witness to this process and event. Thank you for your attention to this matter! President DJT
US launches fresh strikes against Iran
01:08 , Rachel Dobkin
The US launched fresh airstrikes against Iran, claiming the attacks were in “self-defense”.
American forces “conducted self-defense strikes in southern Iran today to protect our troops from threats posed by Iranian forces,” Central Command’s Captain Tim Hawkins said in a statement shared by US media Monday evening, Washington time.
“Targets included missile launch sites and Iranian boats attempting to emplace mines,” the military spokesperson added.
Two Iranian boats were caught laying mines in the Strait of Hormuz, a vital oil passageway in the Middle East, a senior US official told Fox News’ Jennifer Griffin.
“The US military eliminated both IRGC vessels and also struck at a SAM (surface to air missile) site in Bandar Abbas that was targeting US warplanes,” Griffin wrote in an X post.
Two sources said the strikes do not indicate the fragile ceasefire between Washington and Tehran is broken, per Griffin.
Oil prices dip after Trump says peace talks on Iran war are proceeding
Tuesday 26 May 2026 00:30 , Daniel Haygarth
Asian markets largely advanced on Monday, while global oil prices saw a significant drop, following comments from Donald Trump indicating progress in talks aimed at resolving the conflict with Iran.
Japan’s benchmark Nikkei 225 index surged by 3.1 per cent in morning trading, reaching 65,321.56. Australia’s S&P/ASX 200 also added 0.4 per cent to 8,692.70, and the Shanghai Composite edged up 0.4 per cent to 4,127.53.
Trading was suspended in South Korea and Hong Kong for Buddha’s birthday holidays, with US markets also closed for Memorial Day.
Read more:
Oil prices dip amid hopes for US-Iran peace talks
Editorial: Let’s hope Trump has cooled on a new Iran attack
Monday 25 May 2026 23:30 , Dan Haygarth
We must be cautious of any Trump proclamations, but there is room this time for optimism. Read below.
Let’s hope Trump has cooled on a new Iran attack
Israel will escalate strikes against Hezbollah in Lebanon, Netanyahu says
Monday 25 May 2026 23:16 , Dan Haygarth
Israel will escalate strikes against Hezbollah in Lebanon, prime minister Benjamin Netanyahu said on Monday, as a US official said the militia had ignored warnings to halt firing at Israel in a conflict that could threaten US-Iran negotiations.
Israel and Iran-backed Hezbollah have continued to trade blows despite a 16 April 16 aimed at halting the deadliest spillover of the US-Israeli joint war on Iran.
Tehran has demanded a halt to Israeli attacks in Lebanon as a condition in talks with the U.S. aimed at ending the broader war.
As the US and Iran appeared to draw closer to a potential deal on Sunday, Netanyahu said he and president Donald Trump agreed in a phone call that Israel would retain the right to confront perceived threats on all fronts, including Lebanon.
Netanyahu doubled down on that message on Monday night, saying in a video released on Telegram: "We are at war with Hezbollah, and we will intensify our strikes."
He said Israel's military was not taking its "foot off the gas. On the contrary, I said to step on the gas even more."
There was no immediate comment from Hezbollah or from Lebanese officials.
Israel's military has remained deployed in a broad swathe of southern Lebanon since the truce, with its air force striking what it describes as Hezbollah positions and its ground forces demolishing towns where it says the militia holds sway.
Hezbollah has fired explosive drones at Israeli troops and toward towns in northern Israel, killing at least 11 soldiers since the truce, the military says.
At least 608 people in Lebanon have been killed in Israeli attacks during the same period, according to the World Health Organisation. Hezbollah has not released figures on its war dead.
Fearing a renewed Israeli assault on Beirut, which suffered weeks of heavy bombardment before the truce, people began fleeing the city's southern suburbs on Monday night after Netanyahu's video message was released, Lebanese security sources said.
Explosions heard in Iran, reports
Monday 25 May 2026 22:54 , Dan Haygarth
Explosions were heard in Iran's Bandar Abbas city and coastal areas near the Strait of Hormuz, Iranian media reported on Monday, adding that the cause was unknown.
Iran's Mehr news agency said the situation in Bandar Abbas was under control and there was no cause for concern after the explosions were heard east of the city. It said official sources had not yet commented.
The Tasnim news agency said three explosions were heard in Bandar Abbas, while the Fars news agency said similar sounds were heard close to Sirik and Jask near the strategic waterway.
Iran's top envoys discussing potential peace deal with Qatar prime minister, official says
Monday 25 May 2026 22:30 , Dan Haygarth
Iran's top negotiator and its foreign minister were in Doha for talks with Qatar's prime minister on a potential deal with the US to end the three-month-old war, an official briefed on the visit told Reuters on Monday, after Washington and Tehran played down hopes for an imminent breakthrough.
US Secretary of state Marco Rubio told reporters in New Delhi earlier that the US would give diplomacy every chance to succeed before considering whether to deal with Iran in "another way".
There was a "pretty solid thing on the table in terms of their ability to open up the strait (of Hormuz), get the strait open, enter into a very real, significant, time-limited negotiation on the nuclear matter, and hopefully we can pull it off," Rubio said.
In a lengthy post on Truth Social on Monday, Donald Trump said talks with Iran were going "nicely", but warned of fresh attacks if they failed. It "will only be a Great Deal for all, or no Deal at all," he wrote.
Iran's foreign ministry spokesperson Esmaeil Baghaei said in a briefing that conclusions had been reached on many topics but that did not mean the sides were close to agreement.
The official briefed on the Iranians' Doha visit told Reuters the discussions focused primarily on the Strait of Hormuz and Iran's stockpile of highly enriched uranium while Iran's central bank governor attended to discuss the potential release of frozen Iranian funds as part of a final deal.
Baghaei said earlier that nuclear issues would only be negotiated on if the framework accord is agreed first.
All we know about the latest draft US-Iran peace deal that could reopen the Strait of Hormuz
Monday 25 May 2026 21:30 , Dan Haygarth
The US and Iran have “largely negotiated” a peace deal that would reopen the Strait of Hormuz, according to US president Donald Trump, with expectations rising that a breakthrough could be imminent.
The closure of the vital shipping passage has sparked a global energy crisis since US and Israel launched strikes on Iran in February.
In a post on Truth Social on Saturday, Trump said that the “final aspects and details of the deal” were being discussed, with his comments confirmed by US secretary of state Marco Rubio who said that “significant progress” had been made.
Rubio also hinted at further good news to come on Sunday “at least in regards to the Strait”. Details leaked to US and Iranian media suggest that significant work has been done to agree a draft memorandum of understanding between the US and Iran.
Read more below:
All we know about latest draft US-Iran peace deal that could reopen Strait of Hormuz
Iran's foreign minister in talks with Qatar on potential peace deal
Monday 25 May 2026 20:30 , Holly Bancroft
Iran's top negotiator and its foreign minister were in Doha for talks with Qatar's prime minister on a potential deal with the US to end the three-month-old war, an official briefed on the visit said on Monday.
Iran's foreign ministry spokesperson Esmaeil Baghaei said in a weekly briefing on Monday that a conclusion had been reached on many topics in the peace deal, but that does not mean that "we're close to signing an agreement".
The official briefed on the Iranians' Doha visit said that the discussions were focused primarily on the Strait of Hormuz and Iran's stockpile of highly enriched uranium, while the country's central bank governor is also part of the delegation to discuss the potential release of frozen Iranian funds as part of a final deal.
Iran war poses new threat to harvests in hunger-striken Sudan
Monday 25 May 2026 19:26 , Holly Bancroft
Farmers across Sudan say the hike in global fuel and fertiliser costs resulting from the Iran conflict will force them to cut back on planting this summer, restricting food production in a country where war has caused acute hunger.
Eight farmers from different parts of Sudan, as well as experts working in the sector, told news agency Reuters that fuel and fertiliser price increases would compound problems caused by a civil war, hitting staple domestic crops such as sorghum and millet as well as exports like sesame.
Sudan is particularly vulnerable to the fallout from the Iran crisis as it relies on the Gulf for more than half of its fertiliser needs, according to UN data, while the war between the Sudanese army and the paramilitary Rapid Support Forces has left it entirely dependent on fuel imports. The country is also already at the forefront of a looming global food crisis at a time of shrinking aid budgets.
About 19.5 million people, more than 40 per cent of the population, are facing crisis levels of hunger.
Iran's president orders reopening of international internet access, state media reports
Monday 25 May 2026 19:08 , Dan Haygarth
Iran's president Masoud Pezeshkian has issued an order to reopen international internet access, Iranian state media reported on Monday, citing an official after a near-90-day blackout in the wake of the war against the US and Israel.
The report cited the head of public relations at Iran’s Communications Ministry.
The mechanism for how and when Iran would reconnect to the global web following the decision was unknown.
Most Iranians have been unable to access the worldwide web for 87 days according to the internet observatory NetBlocks on Monday, with only a few citizens having access to expensive and advanced VPNs that circumvent the restrictions.
Authorities initially imposed an internet blackout from 8 January in response to nationwide anti-government protests, with connections gradually getting back to normal in February, before a new blackout was initiated following the start of U.S. and Israeli strikes against Iran on 28 February.
In normal times, access to the global internet remains heavily restricted via censorship of many websites, while authorities are increasingly relying on an intranet to provide connected services without relying on the worldwide web, notably for schools which are currently following an online curriculum.
Full story: Trump demands multiple countries sign diplomatic deal with Israel as part of any Iran peace plan
Monday 25 May 2026 19:02 , Dan Haygarth
Trump demands countries sign diplomatic deal with Israel as part of Iran peace plan
Did Marco Rubio call Donald Trump ‘stupid’? Racism question overshadows top US diplomat’s India visit
Monday 25 May 2026 18:32 , Holly Bancroft
US secretary of state Marco Rubio was caught off guard when confronted about racist remarks made against Indians in the US during his visit to the South Asian country to reset fraying ties.
During a joint press conference involving the US secretary of state in New Delhi on Sunday, a reporter appears to have indirectly raised president Donald Trump’s endorsement of an American podcaster’s remarks describing India as a “hellhole”.
Mr Trump had shared the “hellhole” remark on his Truth Social platform, prompting India’s government to denounce it as inappropriate and “in poor taste”.
“We have a lot of racist comments coming from the United States against Indians, Indian Americans. This goes against the basic premise of the India-US relationship. What’s your take on that?” Mr Rubio was asked during the press conference after his talks with Indian foreign minister S Jaishankar.
“Who made those comments?” Mr Rubio asked. “Which ones?”
The Indian reporter responded that the comments were “pretty well known” and that “we have seen endorsement of those comments”, without specifying what he was referring to.
Mr Rubio then offered a general answer saying that there were stupid people everywhere. “I don’t know how to address that but I’ll take that very seriously, about the comments,” he said.
Read the full story here:
Did Marco Rubio call Donald Trump ‘stupid’? Racism question overshadows India visit
Iran would open Strait of Hormuz 30 days after deal with US to end fighting, reports
Monday 25 May 2026 18:29 , Dam Haygarth
The US and Iran are discussing a plan to open the Strait of Hormuz about 30 days after the two countries reach a deal to end hostilities, the Nikkei newspaper reported on Monday citing a Middle East diplomatic source.
Israel's PM Netanyahu believes he can't influence Trump on Iran deal - reports
Monday 25 May 2026 17:31 , Holly Bancroft
Prime Minister Benjamin Netanyahu has told confidants in private conversations that Israel has little ability to influence Donald Trump's decision-making on Iran as the US president negotiates a deal in the nearly three-month-old war, two sources told news agency Reuters.
Mr Netanyahu's comments, described by two Israeli officials with knowledge of the conversations, come as Israel has largely been left out of talks to reach an initial deal to halt a war that began with joint US-Israeli bombardment.
Both the US and Iran have played down hopes for an imminent breakthrough in talks, and they remain at odds over Iran's nuclear ambitions, Tehran's demands for the lifting of sanctions and Israel's war in Lebanon with Hezbollah militants.
Mr Netanyahu is demanding the right to continue operations against perceived threats on all fronts, including Lebanon, a caveat that could derail a deal if Iran insists on a complete halt to Israeli military operations in southern Lebanon.
Trump hits back at ‘losers who know nothing’ after Republicans turn on Iran peace deal
Monday 25 May 2026 16:24 , Holly Bancroft
President Donald Trump has lashed out at “losers who know nothing” after senior Republicans turned on his reported plan to end the war in Iran.
Ted Cruz, Lindsey Graham and Mike Pompeo were among the critics after details of the proposal emerged over the weekend, warning it could be a “disaster” that ultimately emboldens Tehran.
“If I make a deal with Iran, it will be a good and proper one, not like the one made by Obama, which gave Iran massive amounts of CASH, and a clear and open path to a Nuclear Weapon,” the president posted on Truth Social late Sunday.
“Our deal is the exact opposite, but nobody has seen it, or knows what it is. It isn’t even fully negotiated yet.
“So don’t listen to the losers, who are critical about something they know nothing about. Unlike those before me who should have solved this problem many years ago, I don’t make bad deals!”
Recap: Trump goes on bizarre Truth Social posting blitz
Monday 25 May 2026 15:35 , Holly Bancroft
President Donald Trump went on a Truth Social posting blitz Sunday morning, sharing AI-generated images of former President Barack Obama and other political enemies in prison — as well as a picture of bombs being dropped on Iranian ships.
Trump shared what appeared to be mugshots of Obama, former FBI Director James Comey, and six others, arranged in a way similar to the opening credits of The Brady Bunch. However, instead of the show’s title in the centre, the image read: “The Shady Bunch.”
“This is a bad (Sick!) group of people. Very destructive to our great Nation. Caused tremendous damage through Weaponization!” Trump posted on Sunday morning.
Trump then shared a series of images of himself and Chinese President Xi Jinping - including one in which he claimed “President Trump gets YOUNGER” - before posting the AI-generated image of bombs being dropped on Iranian ships. That image had the word “Adios” written across the top.
Read more from Isabel Keane in New York here:
Trump goes on bizarre Truth Social posting blitz
What are the Abraham Accords?
Monday 25 May 2026 14:32 , Holly Bancroft
The Abraham Accords were a series of diplomatic and commercial agreements forged with US influence between Israel and the United Arab Emirates and Bahrain during Donald Trump's first term.
The accords represent the first normalisation of relations between Israel and Arab states since agreements between Israel and Jordan in 1994 and Israel and Egypt in 1979.
Morocco later signed the accords, and Sudan signed the declaration.
Trump: More countries should sign Abraham Accords as part of Iran peace deal effort
Monday 25 May 2026 14:21 , Holly Bancroft
Donald Trump has said that it should be mandatory for countries including Qatar, Pakistan, Egypt, Jordan and Turkey to join the Abraham Accords en masse as part of an effort to reach a deal with Iran.
Mr Trump said he spoke on Saturday to leaders of those countries, as well as Saudi Arabia and Bahrain, which has already signed the accords, a set of agreements to normalize relations with Israel.
"I stated that, after all the work done by the United States to try and pull this very complex puzzle together, it should be mandatory that all of these Countries, at a minimum, simultaneously, sign onto the Abraham Accords," Mr Trump wrote in a Truth Social post on Monday.
He said those countries would be honored to have Iran as part of the accords once a deal to end the war is reached. Trump also said negotiations with Iran were "proceeding nicely" but gave no indication a deal was imminent.
Donald Trump: 'Only a great deal for all or, no deal at all'
Monday 25 May 2026 14:19 , Holly Bancroft
US president Donald Trump has said that negotiations with Iran are “proceeding nicely”, but warned that he would only accept a “great deal for all or no deal at all” in a post on Truth Social on Monday.
He said that a breakdown of negotiations would send the US “back to the battlefront and shooting, but bigger and stronger than ever before - and nobody wants that!”
Mr Trump added that it should be mandatory for countries including Qatar, Pakistan, Egypt, Jordan and Turkey to join the Abraham Accords en masse as part of an effort to reach a deal with Iran.
UK households set to learn of energy bills hike from July amid Iran war impact
Monday 25 May 2026 14:07 , Holly Bancroft
Households will this week find out how much energy bills are set to increase by from July when the price cap is updated as forecasts point to a rise of more than £200 and a painful winter of sky-high bills ahead due to the Iran war.
Regulator Ofgem will on Wednesday reveal the level of the annual energy price cap for July to September for a typical dual fuel household across England, Scotland and Wales.
Analysts Cornwall Insight predicted last week the cap will rise by £209 a year to £1,850 from July 1 – an increase of 13 per cent on April’s £1,641 annual cap. It sets a maximum price per unit of gas and electricity used, meaning households only pay for the amount of energy they use.
This means households will be largely shielded over the warm summer months, but concerns are growing over a painful hit when the cap is reviewed in October and energy demand rises as temperatures drop.
Cornwall Insight’s forecasts suggest the cap in October will be at a similar level to July, even if the Middle East conflict were to end soon, due to the physical damage to infrastructure and lingering effect of disrupted supply.
Rubio says US will give diplomacy 'every chance to succeed' in Iran negotiations
Monday 25 May 2026 13:34 , Holly Bancroft
Ted Cruz shreds MAGA influencer defending Trump’s Iran deal: ‘Hush, child!’
Monday 25 May 2026 13:09 , Holly Bancroft
Senator Ted Cruz fired back at a young MAGA influencer who defended President Donald Trump’s potential deal to end the war in Iran, telling him, “Hush, child. The adults are talking.”
The Texas Republican got into a fiery exchange with Alex Bruesewitz, a 29-year-old influencer who has been described as the “architect” of the Trump campaign’s “podcast game plan,” on X on Saturday.
The back-and-forth began after Cruz wrote that he was “deeply concerned” about some of the details on the not-yet-finalized deal with Iran.
“President Trump’s decision to strike Iran was the most consequential decision of his second term. He was right to do so, and we achieved extraordinary military results — including destroying all of their missiles & drones and sinking their entire navy,” Cruz wrote in a lengthy X post.
‘The one toy I took from my war torn home’: Plight of the 400,000 children displaced by Israel’s war on Lebanon
Monday 25 May 2026 12:11 , Holly Bancroft
Clutching a pack of Uno cards and a Little Mermaid colouring book, eight-year-old Nour* was forced to leave her home in southern Lebanon as Israeli forces bombarded the region.
Clothes were the only other item she carried as her family fled their town and joined more than one million internally displaced people fleeing Israeli attacks, which have razed villages to the ground.
These treasured possessions, Nour says, were gifts from her mum and dad. “They mean so much to me,” she says from a collective shelter in Beirut where she now lives with her sister Tala* and mother Sarah*.
It is a story all too common in Lebanon’s 632 collective shelters for refugees, where nearly 130,000 people are residing as they seek safety from ongoing shelling near their homes, which has continued despite a ceasefire agreement being extended for another 45 days.
Read more from Alex Croft here:
‘The toy I took from my war torn home’: The 400,000 children displaced by Israeli war
Iran central bank chief heads to Qatar after talks about frozen funds
Monday 25 May 2026 11:59 , Holly Bancroft
Iran's Central Bank Chief Abdolnaser Hemmati has travelled to Qatar, Iran's state media has reported, saying the visit follows talks with a Qatari delegation in Tehran regarding Iran's frozen funds.
Iran has been pushing in negotiations for its frozen funds abroad, including in Qatar, to be released.
According to Iran International, Iranian negotiators have demanded the immediate release of $12bn in frozen assets held in Qatar as a precondition for advancing talks with the United States.
The release of the Qatar funds are a strict precondition for the initial stage of the peace agreement, the report said.
'Monday is war day, Friday is peace day': Defence analyst translates Donald Trump's comments on Iran war
Monday 25 May 2026 11:24 , Holly Bancroft
US president Donald Trump might be getting cold feet over his Iran deal after facing strong push-back from Republicans over the leaked details, a defence analyst has said.
Michael Clarke, security and defence analyst at Sky News, interpreted Mr Trump’s comments over the past few days, where he initially said a peace deal with Iran was close before rowing back on Monday.
Mr Clarke said: “Monday is war day, Friday is peace day, because on the Friday he makes very positive statements about the closeness of the deal because that settles the markets. Then on Monday it’s ‘oh well we can’t get a deal so we might have to go back to war’.
“There is a pattern to it. You can go back over the past three months, Friday is peace day, Monday is war day. So yes, this is the day for reminding the world and the Iranians that the American military machine is still there.
“Where are we with the deal, there is some optimism that there is an outline of a deal. But over the weekend a lot of Republicans were pushing back on it, saying ‘if this is the deal, this is a lot worse than what we had in 2015, the deal that you wrecked, the Obama deal.”
“If it is the deal that is being briefed then that would be the case”.
Mr Clarke added that, in light of the push-back from Republicans like Senator Ted Cruz and Lindsey Graham, “I think Trump is saying well it’s not the deal after all”.
Recap: Marco Rubio says the draft deal with Iran is 'pretty solid'
Monday 25 May 2026 11:02 , Holly Bancroft
The United States will either have a good agreement with Iran or deal with the country "another way," Secretary of State Marco Rubio said on Monday, as Washington played down hopes for an imminent breakthrough in the three-month-old war.
Mr Rubio told reporters in New Delhi that the US would give diplomacy every chance to succeed before exploring "alternatives", after President Donald Trump said on Sunday he had told his representatives not to rush into any Iran deal.
There was a "pretty solid thing on the table in terms of their ability to open up the strait, get the strait open, enter into a very real, significant, time-limited negotiation on the nuclear matter, and hopefully we can pull it off," Mr Rubio said.
A day earlier, Mr Trump wrote on Truth Social that the US blockade on Iranian ships in the Strait of Hormuz would "remain in full force and effect until an agreement is reached, certified, and signed".
"Both sides must take their time and get it right," he added. There was no immediate response from Iran's government. But the Tasnim news agency, linked to Iran's Revolutionary Guards, said the US was still obstructing parts of a potential deal, including Tehran's demand for the release of frozen funds.
European shares buoyed by signs of peace deal
Monday 25 May 2026 10:23 , Holly Bancroft
European shares opened on Monday at their highest levels in more than two months, buoyed by signs that Iran and the United States were negotiating an end to their conflict, easing concerns about inflation and a global economic slowdown.
The pan-European STOXX 600 was up 0.61 per cent at 628.93 points, as of 0712 GMT, trading just shy of a record high touched in late February, just before the Middle East war erupted.
Most sectors traded higher, led by banks with a 1.7 per cent jump, while regional airlines such as Lufthansa and Air France KLM gained 4.2 per cent and 9 per cent, respectively, as Brent crude prices slid 5 per cent to $98 a barrel.
Stocks surge as optimism grows about end to Iran war
Monday 25 May 2026 10:08 , Holly Bancroft
Stocks surged on Monday while the US dollar and oil prices slid as the prospect of a deal to end the Iran war buoyed risk appetite, although a lack of clarity over when the Strait of Hormuz would open kept enthusiasm in check.
US President Donald Trump said on Sunday he had told his representatives not to rush into any deal with Iran, as his administration played down hopes of an imminent breakthrough. Just a day earlier, Mr Trump said Washington and Iran had "largely negotiated" a memorandum of understanding on a deal that would reopen the waterway, which carried one-fifth of global oil and liquefied natural gas shipments before the war.
Chris Weston, head of research at Pepperstone, said markets have become less focused on the timing of a resolution and instead been keeping an eye on the tone of the headlines.
"The tone has been consistently towards some sort of resolution... We've become very patient for a resolution deadline."
Iran says conclusions reached on many topics in potential memorandum but no deal imminent
Monday 25 May 2026 09:29 , Holly Bancroft
Iran's foreign ministry spokesperson has said that conclusions have been reached on many topics discussed in a “potential memorandum” of understanding with the US, but this does not mean Tehran is close to signing an agreement.
The spokesperson, Esmaeil Baghaei, added that Iran is negotiating an end to the war and is not currently discussing nuclear issues, and repeated that changes in the positions of US officials create problems for any agreement.
Iran not currently discussing nuclear issues, foreign ministry says
Monday 25 May 2026 09:05 , Holly Bancroft
Iran is negotiating an end to the war with the US and is not currently discussing nuclear issues, the Iranian foreign ministry has said.
Details of the draft US-Iran agreement emerged yesterday, with the deal reportedly including a commitment for Iran to give up its stockpile of highly enriched uranium, with the details and timelines to be worked out later.
A senior Iranian diplomat told the ISNA news agency on Monday that Iran would discuss its nuclear programme and its highly enriched uranium with the US if Washington fulfils its commitments under the initial draft deal.
These issues would be discussed in the 60 days of negotiations that will follow the agreement, Hossein Nooshabadi said.
Top negotiator in talks with US re-elected as Iran's parliament speaker
Monday 25 May 2026 08:08 , Harriette Boucher
Mohammad Bagher Ghalibaf, who has been Iran’s top negotiator in talks with the US, has been reelected as parliament speaker, semi-official Fars news agency has reported.
Iran has agreed 'in principle' to reopening Strait of Hormuz, US official says
Monday 25 May 2026 07:56 , Harriette Boucher
A senior Trump administration official outlined what he said were the latest contours of issues being negotiated with Iran.
Speaking on the condition of anonymity, the official told Reuters that Iran had agreed “in principle” to open the Strait of Hormuz, in exchange for the US lifting its naval blockade, and to dispose of Tehran's highly enriched uranium.
The US understood Iran's supreme leader Ayatollah Mojtaba Khamenei had endorsed the broad template of the deal, he added.
There was no immediate confirmation from Iran or elaboration on what an “in principle” agreement meant. The US official said Washington envisioned first re-opening the strait and lifting the US naval blockade. Negotiating the details of the nuclear measures would take more time.
The official pushed back on suggestions that Iran had not accepted disposing of its stockpiled enriched uranium. “It's a question about how,” the official said.
A second senior administration official said on Sunday the proposed framework would give negotiators 60 days to reach a final deal.
Trump says peace deal with Iran ‘largely negotiated’ including Strait of Hormuz reopening
Monday 25 May 2026 07:35 , Harriette Boucher
Households set to learn of energy bills hike from July amid Iran war impact
Monday 25 May 2026 07:25 , Harriette Boucher
British households will this week find out how much energy bills are set to increase by from July when the price cap is updated as forecasts point to a rise of more than £200 and a painful winter of sky-high bills ahead due to the Iran war.
On Wednesday, regulator Ofgem will reveal the level of the annual energy price cap for July to September for a typical dual fuel household across England, Scotland and Wales.
Analysts Cornwall Insight predicted last week the cap will rise by £209 a year to £1,850 from July 1 – an increase of 13 per cent on April’s £1,641 annual cap.
It sets a maximum price per unit of gas and electricity used, meaning households only pay for the amount of energy they use.
Cornwall Insight’s forecasts suggest the cap in October will be at a similar level to July, even if the Middle East conflict were to end soon, due to the physical damage to infrastructure and lingering effect of disrupted supply.
Tanker arrives in Japan after transiting Strait of Hormuz
Monday 25 May 2026 07:09 , Alisha Rahaman Sarkar
A crude oil tanker that passed through the Strait of Hormuz has successfully arrived in Japan, in the first instance of a Japanese-managed ship to have transited the key waterway since the beginning of the war.
The Panama-flagged Idemitsu Maru was carrying about 2 million barrels of Saudi crude oil, according to reports.
At least 39 Japan-related vessels remained in the Persian Gulf as of Sunday, the Japanese government said.
Ted Cruz shreds MAGA influencer defending Trump’s Iran deal
Monday 25 May 2026 06:54 , Alisha Rahaman Sarkar
Senator Ted Cruz fired back at a young MAGA influencer who defended president Donald Trump’s potential deal to end the war in Iran, telling him, “Hush, child. The adults are talking.”
The Texas Republican got into a fiery exchange with Alex Bruesewitz, a 29-year-old influencer who has been described as the “architect” of the Trump campaign’s “podcast game plan,” on X.
The back-and-forth began after Cruz wrote that he was “deeply concerned” about some of the details on the not-yet-finalized deal with Iran.
More here.
Ted Cruz shreds MAGA influencer defending Trump’s Iran deal: ‘Hush, child!’
Iran moves World Cup base to Mexico
Monday 25 May 2026 06:45 , Alisha Rahaman Sarkar
Iran will base their squad in the Mexican border city of Tijuana during this year's World Cup after Fifa approved a request to move the training camp from Arizona.
"We will be based in the Tijuana camp, which is near the Pacific Ocean and on the border between Mexico and the United States," Iran's football federation president Mehdi Taj said in a video posted on Telegram.
Taj added that the move would help avoid visa-related complications and that the squad would be able to travel directly to Mexico aboard Iran Air flights.
Iran will play their first two Group G matches in Los Angeles, against New Zealand on 15 June and Belgium on 21 June, before facing Egypt in Seattle on 26 June.
Rubio says Trump will not 'make a bad deal'
Monday 25 May 2026 06:27 , Alisha Rahaman Sarkar
US secretary of state Marco Rubio has claimed that Washington was awaiting a "response from Iran" to finalise the peace deal.
“You’ve got to hear back, and it takes the Iranian system a little while longer to get back,” Rubio told reporters in New Delhi.
He added that the "president is not going to make a bad deal – he’s just not".
Iranians commemorate those killed in the US-Israel war on Iran
Monday 25 May 2026 06:10 , Alisha Rahaman Sarkar
Iran executes man involved in January protests
Monday 25 May 2026 05:46 , Alisha Rahaman Sarkar
Iran has executed a man over charges related to the anti-government protests that took place nationwide in January, state media reported this morning.
The individual was identified as Abbas Akbari, according to state media.
Rubio says US will either have a good agreement or deal with Iran 'another way'
Monday 25 May 2026 05:20 , Alisha Rahaman Sarkar
US secretary of state Marco Rubio said this morning that the US will either have a good agreement with Iran or deal with the country "another way."
The US will give diplomacy every chance to succeed before exploring the "alternatives," Rubio told reporters in New Delhi.
There is a "pretty solid thing on the table in terms of their ability to open up the strait, get the strait open, enter into a very real, significant, time-limited negotiation on the nuclear matter, and hopefully we can pull it off," Rubio said.
Israel says one soldier killed during combat in southern Lebanon
Monday 25 May 2026 04:58 , Alisha Rahaman Sarkar
The Israeli military said on Monday that one soldier was killed during combat in southern Lebanon, adding that an additional soldier was severely injured in the incident and evacuated to hospital.
More than 3,000 people have been killed in Lebanon in the latest fighting between Israel and Hezbollah, according to the Lebanese health ministry.
Additionally, 22 Israeli soldiers and a defence contractor have been killed in or near southern Lebanon, and two civilians have been killed in northern Israel, Tel Aviv said.
Netanyahu says Trump affirmed Israel's right to defend itself against Lebanon
Monday 25 May 2026 04:50 , Alisha Rahaman Sarkar
Israeli prime minister Benjamin Netanyahu in a social media post said he and Donald Trump have agreed that “any final agreement with Iran must eliminate the nuclear danger,” and that Trump had reaffirmed Israel’s right to defend itself “on every front, including Lebanon".
The US official said the deal would guarantee Israel’s right to act against imminent threats in self-defence.
Israeli officials are concerned that Hezbollah remains a serious threat to Israel and that Lebanon is ill-equipped to disarm it.
A fragile, US-brokered ceasefire took effect in Lebanon on 17 April, but fighting has continued, mainly in the south.
Hezbollah has launched daily drone and rocket attacks on Israeli forces and northern Israel, and Israel has struck targets across Lebanon while its troops remain in large swaths of the south.
India increases fuel prices for fourth time in weeks
Monday 25 May 2026 04:34 , Alisha Rahaman Sarkar
State-owned fuel retailers in India increased diesel prices by Rs2.71($0.028) per litre and petrol by Rs2.61 ($0.027), dealers said today, the fourth hike in May as authorities try to recoup losses driven by higher crude costs due to the Iran war.
This brought the effective price of petrol in the capital New Delhi to Rs102.12 or $1.07 and pushed diesel to Rs95.20 or $1.
Trump gives Tehran new warning on nuclear weapons
Monday 25 May 2026 04:25 , Alisha Rahaman Sarkar
Donald Trump has warned that Tehran “must understand” it cannot have a nuclear weapon as the two sides edge towards a potential peace deal.
The US says it is close to reaching an agreement with Iran that would end the war and reopen the Strait of Hormuz, with expectations rising that a breakthrough could be imminent.
However, while adopting a more positive tone on, following previous reports the US was considering further strikes against Iran, Trump said his team would “not be rushed”.
His comments came soon after the US secretary of state Marco Rubio suggested an announcement could be made “within hours”.
More here.
Trump gives Tehran new warning on nuclear weapons as US and Iran edge towards deal
Oil falls to two-week low at $98 a barrel
Monday 25 May 2026 04:14 , Alisha Rahaman Sarkar
Oil prices hit two-week lows on Monday on optimism that the US and Iran were moving closer towards a peace deal even though they remained at odds over key issues, including blockades on the Strait of Hormuz that continued to restrict oil supply from the Middle East.
Brent crude futures fell $4.71, or 4.55 per cent, to $98.83 a barrel, while US West Texas Intermediate was at $92.03 a barrel, down $4.57, or 4.73 per cent.
Marco Rubio says 'significant progress' has been made but says deal 'not final'
Monday 25 May 2026 04:13 , Alisha Rahaman Sarkar
Speaking about the draft Iran deal, US secretary of state Marco Rubio has said that “some progress has been made - significant progress, although not final progress”.
He hinted that “there will be, maybe, more news coming out a bit later today”. Rubio, who is speaking at a news conference with India’s foreign minister in New Delhi, emphasised that Iran can never have a nuclear weapon.
He said that it was possible that further good news is to come “at least in regards to the Strait”.
Iran war briefing:
Monday 25 May 2026 04:12 , Alisha Rahaman Sarkar
- US secretary of state Marco Rubio has said that “some progress has been made - significant progress, although not final progress” about the draft Iran deal
- President Donald Trump has said he told his representatives not to rush into any deal with Iran, adding that the US blockade on Iranian ships on the Strait of Hormuz would "remain in full force and effect” until an agreement to end the war was reached
- Iranian president Masoud Pezeshkian told state TV they were ready “to assure the world that we are not after a nuclear weapon"
- Oil prices hit two-week lows on optimism that the US and Iran were moving closer towards a peace deal even though they remained at odds over key issues, including blockades on the Strait of Hormuz that continued to restrict oil supply from the Middle East
