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The Latest Breaking News from Iran

Weak Stocks and Crude Oil Strength Lift the Dollar

The dollar index (DXY00 ) on Tuesday rose by +0.34%. The dollar moved higher on Tuesday amid renewed concerns that the US-Iran ceasefire may break down after President Trump said the current ceasefire was on “life support.” Tuesday’s +4% surge in crude oil prices also boosted inflation expectations and may...

Barchart

Crude Oil Prices Surge on Concern Over Prolonged Closure of Hormuz

June WTI crude oil (CLM26 ) on Tuesday closed up +4.11 (+4.19%), and June RBOB gasoline (RBM26 ) closed up +0.0979 (+2.72%). Crude oil and gasoline prices settled sharply higher for a second day on Tuesday after President Trump cast doubt over the ceasefire with Iran, which could lead to...

Barchart

Iran War Has Cost Taxpayers At Least $29 Billion So Far, Pentagon Says

Jules W. Hurst III, the Pentagon's acting comptroller, said that the war in Iran has cost taxpayers at least $29 billion so far.

International Business Times

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Trump brushes off Iran war’s cost at home: ‘I don’t think about Americans’ financial situation’

President’s stunning admission comes as American struggle with surging inflation and record gas prices as a result of the continued blockade of the Strait of Hormuz

The Independent UK

Returning the favour? In 1971, Iran had sheltered Pakistan assets

Islamabad denies reports of Iranian fleet at Nur Khan Base

The Times of India

UK to deploy mine hunters, drone boats and jets for Strait of Hormuz mission

Defence Secretary John Healey made the announcement amid a meeting of 40 ministers about plans to protect shipping in the waterway once the war ends.

Evening Standard

Iranian Lawmaker Says Country Could Enrich Uranium To Weapons-Grade If Attacked Again

Iranian parliamentary spokesman Ebrahim Rezaei said the country could enrich uranium to weapons-grade level if attacked again.

International Business Times

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Congress' Energy Crisis Solution: Bring Back an Office That Funded Women's Empowerment Initiatives Overseas

Instead of holding the president accountable, lawmakers are trying novel ways to reduce energy prices caused by Trump’s war in Iran.

Reason

Can China's Xi rescue Trump from a bruising West Asia war?

Donald Trump seeks a significant win from his upcoming China trip to bolster his reputation and aid midterm election prospects. The meeting will address critical economic issues, including rare earths and tech goods, with both leaders needing to accommodate each other's political agendas for any meaningful agreement.

The Economic Times

Trump posts late-night social media spree as Iran war drags on

President posted more than 50 times in three hours, attacking on Obama, NY Times and supreme court

The Guardian - US

India brings back COVID-era work-from-home rules and asks farmers to halve fertilizer use as the Iran war chokes its oil lifeline

India is particularly exposed to the Iran oil shock as 50% of its crude oil imports pass through the Strait of Hormuz.

Fortune

EU says could expand naval mission to Strait of Hormuz

EU's top diplomat Kaja Kallas indicated the bloc may expand its Red Sea naval mission, Operation Aspides, to include the Strait of Hormuz post-Iran war. This potential extension aims to secure vital shipping lanes, with some nations already pledging additional vessels to bolster the mission's capabilities.

The Economic Times

Iran War Drives Up Business Costs As Economists Warn Of Pressure On Hiring, Investment

Nearly half of U.S. business economists report negative impacts from the Iran war as higher input costs and weaker profit outlooks begin to weigh on investment decisions.

International Business Times

War on Iran about oil, not for wiping out civilisation: RSS General Secy Hosabale

The West Asia conflict is driven by oil, not civilization, according to RSS General Secretary Dattareya Hosabale. He believes India can influence leaders towards peace. Wars stem from greed or wicked minds. Hosabale also supported Prime Minister Narendra Modi's call for austerity, deeming it essential for India's well-being.

The Economic Times

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The Times of India

‘I don’t trust Pakistan’: US official questions Islamabad's mediation role after Iran aircraft row, seeks alternative

Senator Lindsey Graham has questioned Pakistan's credibility as a mediator in US-Iran negotiations, citing reports of Iranian military aircraft using Pakistani bases. Pakistan denies these claims, stating aircraft were for diplomatic arrangements. Broader scrutiny of Pakistan's mediation role has emerged within the Trump administration due to stalled talks and Iran's…

The Guardian - UK

UAE’s secret attack on Iran risks drawing Gulf states into the war

If current precarious ceasefire between US and Iran ends, Emirates are more likely to be targeted by Tehran

The Independent UK

Bulletin world briefing: Cruise ship hantavirus cases rise and Russia tests new nuclear ballistic missile

Cruise ship hantavirus cases rise to 11 as Spanish passenger falls ill Russia tests new nuclear ballistic missile that could soon be deployed Macron interrupts speaker to ask for silence in awkward moment How the UAE carried out secret military attacks on Iran Australian musician cuts tour short after being…

International Business Times UK

Pete Hegseth Faces 'Brutal' Congressional Grill Over Unauthorised, $1.5 Trillion Budget 'Disastrous' Iran War

On Tuesday, Pete Hegseth returned to Congress to discuss Ukraine, Iran and Donald Trump's $1.5 trillion Pentagon budget request.

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Reason

Even Dictatorships Don't Fight Wars This Way

The American public never got a satisfying explanation for why Trump attacked Iran in the first place.

The Conversation

How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system

For the first time since the Second World War, excluding the COVID-19 pandemic, public debt in the United States has surpassed the entire economy’s GDP. As of late March, debt held by the public reached US$31.27 trillion, just ahead of the GDP of US$31.22 trillion.

The Independent UK

Bulletin PM briefing: Labour split as Starmer fights for his future and Iran’s nuclear threat

In case you missed it – here are five of today’s top stories

The Economic Times

'The shock is coming and no one has any answer': Uday Kotak warns Indians to prepare for the worst days after PM Modi’s austerity call

Business tycoon Uday Kotak warns that the real economic pain from the Iran war is yet to hit Indian consumers, with soaring energy prices poised to trigger a major financial shock.

Barchart

Crude Oil Prices Rally on Doubts Over US-Iran Ceasefire

June WTI crude oil (CLM26 ) today is up +3.95 (+4.03%), and June RBOB gasoline (RBM26 ) is up +0.1110 (+3.08%). Crude oil and gasoline prices are moving sharply higher today after President Trump cast doubt over the ceasefire with Iran, which could lead to the escalation of hostilities that...

The Economic Times

Why Pakistan backstabs the US, and always gets away with it

For decades, the US grappled with Pakistan's dual role as a terror war ally and a supporter of militant groups. Despite accusations of sheltering terrorists and recent reports of allowing Iranian aircraft access, the US maintained ties due to Pakistan's strategic location, nuclear arsenal, and intelligence cooperation, fearing a destabilized…

Creative Bloq

Operation Epic Furious is a video game inspired by Donald Trump's Iran War

Satirical art meets retro gaming.

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