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The Latest Breaking News from Middle East

Fuel thefts spike as petrol stations see huge increase in ‘drive-offs’

This surge coincides with a sharp rise in fuel costs since the Middle East conflict

The Independent UK

Strait of Hormuz military talks to be led by UK and France – as it happened

This blog is now closed

The Guardian - AU

Crude Oil Prices Sharply Higher as Middle East Peace Efforts in Limbo

May WTI crude oil (CLK26) on Monday closed up +5.76 (+6.87%), and May RBOB gasoline (RBK26 ) closed up +0.1120 (+3.73%). Crude oil and gasoline prices settled sharply higher on Monday after Iran on Saturday said the Strait of Hormuz was closed for shipping following a refusal by the US...

Barchart

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Crude Oil Prices Jump as Middle East Tensions Escalate

May WTI crude oil (CLK26 ) today is up +4.87 (+5.81%), and May RBOB gasoline (RBK26 ) is up +0.1140 (+3.79%). Crude oil and gasoline prices are sharply higher today after Iran on Saturday said the Strait of Hormuz was closed for shipping following a refusal by the US to...

Barchart

Polymarket in fundraising talks that could value the prediction platform at $15bn

Bets placed on Middle East conflict has led to US firm experiencing big increase in volume

The Guardian - UK

Stocks Set to Open Lower as Oil Jumps After U.S.-Iran Tensions Flare Up; Economic Data and Earnings Awaited

June S&P 500 E-Mini futures (ESM26) are down -0.42%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.43% this morning, pointing to a lower open on Wall Street as oil prices surged following a weekend flare-up in U.S.-Iran tensions.

Barchart

UK travellers turn to the Mediterranean as Middle East conflict disrupts travel

Data suggests that travellers are giving European destinations a boost

The Independent UK

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Israeli strikes in Gaza kill five, local officials say – as it happened

This blog is now closed

The Guardian - AU

Cracks show in One Nation vote as Hanson taunts rivals

The number of voters backing Pauline Hanson's political movement appears to have plateaued, but the firebrand senator says her rivals are copying her policies.

AAP

'Red flag': US intel flags Pakistan army chief Asim Munir as risk for Trump admin, says report

US intelligence reportedly views Pakistan's army chief Asim Munir as a potential liability for the Trump administration due to his alleged ties to Iran's military. Despite Trump's praise, officials warn Munir's mediation role between Iran and the US amid Middle East tensions could compromise American interests, citing Pakistan's history as…

The Times of India

Oil Prices Plunge Below $85 as Iran Reopens Strait of Hormuz in Major Market Relief

World oil prices tumbled sharply on Friday, with benchmark U.S. crude dropping more than 10 percent to settle below $84 per barrel after Iran declared the Strait of Hormuz fully open to commercial shipping during an ongoing ceasefire, easing fears of prolonged supply disruptions from the Middle East conflict.

International Business Times

Turkey warns it could be Israel's 'next enemy' as tensions escalate

Turkey's foreign minister has warned it could be Israel’s "next enemy" as the war with Iran appears headed for closure, and called for a Middle East security pact amid rising tensions between the two countries.

Radio France Internationale

What are my rights if flights are cancelled and holidays disrupted due to fuel shortage?

The Middle East war and the EU’s new entry-exit system could lead to travel misery this summer, but there are ways to mitigate it

The Guardian - UK

More than 3,400 Iranians killed in war - as it happened

This blog is now closed

The Guardian - AU

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Kiplinger

Dow Rises 868 Points Amid Gulf Ceasefire: Stock Market Today

Investors, traders and speculators are celebrating a Middle East peace worked out through the diplomatic channels of social media.

Barchart

Dollar Drops on Middle East Peace Optimism

The dollar index (DXY00 ) on Friday fell to a 7-week low and finished down by -0.15%. The dollar came under pressure Friday in hopes that an end to the war in Iran is near, curbing safe-haven demand for the dollar. Also, Friday's rally in stocks has reduced liquidity demand...

International Business Times

Alaska Air Stock Rockets 13% on Oil Price Relief Ahead of Q1 Earnings Amid Hawaiian Integration

Alaska Air Group Inc. shares surged more than 12 percent in morning trading Friday as plunging oil prices following the Middle East ceasefire delivered welcome relief to fuel-burdened airlines and boosted sentiment across the sector ahead of the carrier's first-quarter earnings next week.

Euronews

'Ripple effects of Iran war could lead to other conflicts,' UN development chief tells Euronews

The head of the UN Development Programme told Euronews that the impact of the Middle East conflict is being felt "way beyond the region", and that, in the absence of a resolution, the groundwork for further conflicts is being laid.

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The Times of India

Iran refusing to give Trump exit he needs to save face: Gulf official's big claim on peace talks

A senior Gulf official has claimed that Iran is refusing to offer the concessions Donald Trump needs to “save face and leave” the Middle East conflict, even as the US president pushes for a deal to end weeks of fighting.

The Guardian - AU

US extends waiver allowing countries to buy Russian oil – as it happened

This blog is now closed

AAP

Warning for borrowers as RBA frets over its credibility

The Reserve Bank is worried about 1970s-style runaway inflation if it loses credibility in fighting inflation, as analysts warn of up to five more rate hikes.

Evening Standard

Europe has six weeks’ supply of jet fuel left, energy boss warns

Fatih Birol, executive director of the International Energy Agency, warned there could be flight cancellations ‘soon’.

The Conversation

One-way attack drones: Low-cost, high-tech weapons ‘democratize’ precision warfare

Wars in Ukraine and the Middle East have propelled drones into the headlines. The word “drone” now stretches to cover everything from hobbyist camera rigs available on Amazon to the Predator and Reaper systems the United States has relied on to fight terrorist organizations over the past 20 years.

Barchart

Nasdaq Futures Climb as TSMC Boosts Tech Optimism

June Nasdaq 100 E-Mini futures (NQM26) are trending up +0.32% this morning, setting a new record high as an upbeat forecast from Taiwan Semiconductor Manufacturing Co. boosted sentiment.

Evening Standard

Tesco will do ‘whatever it can’ to keep down food prices amid Iran war

Tesco said that profits could dip over the current year as it flagged increased uncertainty linked to the conflict in the Middle East.

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