Middle

Defection is damaging to Saudi Arabia’s prestige – and could strengthen the US hand in the regionThe United Arab Emirates’ decision to walk out of Opec is a political as much as business decision, and will reignite the simmering rows between the UAE and Saudi Arabia – which had been covered up by their shared anger with Iran over its attacks on the Gulf states since the start of the US-Israel war on Tehran.In the short term, leaving the oil producing cartel it joined in 1967 gives the UAE the freedom to respond quickly to a long-term prospect of constrained supplies, and to maximise profit. But it is a decision the UAE has considered before, as UAE and Saudi tensions over production quotas have been longstanding. Continue reading...

The regional bloc agreed to safeguard regional energy security through strengthened cooperation, timely policy responses and engagement with dialogue partners.

Climate group calls for urgent windfall tax on excess fossil fuel profits, as delegates tell Colombia conference their nations are sufferingThe Middle East oil and gas crunch will impose as much as a trillion dollars of additional costs on the global economy while petroleum companies rake in spectacular profits from elevated fuel prices, analysis has revealed.The uneven distribution of risk and reward comes amid rising concern that the US-Israeli attack on Iran is worsening inequality, poverty and hunger across a world that has become dangerously dependent on fossil fuels. Continue reading...

Tehran’s UN envoy says ‘full respect’ of Iran’s rights also key for lasting regional stabilityUS is being ‘humiliated’ by Iran’s leadership, says Friedrich MerzWe are restarting our live coverage of the US-Israeli war on Iran.Iran needs “credible guarantees” against more US-Israeli attacks before it can ensure security in the Gulf, Tehran’s envoy to the UN has said, while on a Russian visit Iran’s foreign minister blamed Washington for the failure of peace talks.Donald Trump is unhappy with an Iranian proposal on the war because it does not address Iran’s nuclear program, Reuters cited a US official as saying on Monday, after Trump discussed the proposal with his top national security aides. Iran had offered to end its closure of the strait of Hormuz if the US lifted its blockade and ended the war in a proposal that would postpone discussions on Iran’s nuclear program, the Associated Press reported earlier, citing two unnamed regional officials. Later reporting quoted White House spokesperson Karoline Leavitt as saying the proposal was “being discussed”.Lebanese president Joseph Aoun said direct talks with Israel sought to end the war on Lebanon and that those who dragged Lebanon into it were the ones committing “treason” – a jab at the Iran-backed militia Hezbollah, which claimed several attacks on Israeli targets in south Lebanon on Monday.Iraq’s newly elected president nominated businessman Ali al-Zaidi as the country’s prime minister-designate on Monday, after the country’s leaders yielded to US pressure not to support the bid of a former premier close to Iran.The Coordination Framework – an alliance of Shia factions with varying links to Iran – had initially backed powerbroker Nouri al-Maliki to become the country’s next premier, but Trump’s ultimatum left Iraqi leaders looking elsewhere.The US and Iran clashed at the UN on Monday over Tehran’s nuclear program and its selection to be one of dozens of vice-presidents at a month-long conference to review the nuclear non-proliferation treaty. US official Christopher Yeaw said Iran’s selection was an “affront” to the treaty. Tehran’s envoy to the International Atomic Energy Agency, Reza Najafi, rejected the US statement as “baseless and politically motivated”. Continue reading...

US president says there’s ‘no reason to meet’ Tehran unless they agree never to have nuclear weaponsWelcome to our live coverage of events in the Middle East.Donald Trump has said Iran can telephone if it wants to negotiate an end to the war and that it must agree never to have a nuclear weapon, while Pakistan’s leaders have sought to revive the stalled peace talks between Washington and Tehran.Iran gave the US a new proposal on reopening the strait and ending the war, with nuclear negotiations postponed for a later stage, according to the news site Axios. The US state department and White House did not immediately comment on the Sunday report, which cited an unnamed US official and two sources.Araghchi’s talks with Pakistani officials on Sunday had included “implementing a new legal regime over the strait of Hormuz, receiving compensation, guaranteeing no renewed military aggression by warmongers and lifting the naval blockade”, according to Iran’s semi-official Tasnim news agency. In the talks with Omani leader Haitham bin Tariq al-Said, Araghchi called for a regional security framework free of outside interference.Araghchi would meet with Putin “in continuation of the diplomatic jihad to advance the country’s interests and amid external threats”, Iran’s envoy in Russia, Kazem Jalali, said on X.Two US air force C-17s carrying security staff, equipment and vehicles used to protect US officials flew out of Pakistan after the latest diplomatic trip was called off, two Pakistani government sources told Reuters on Sunday. Continue reading...

Beyond cutting back on driving, households are slicing deeper into their budgets, with some even forgoing healthcareFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAs soon as petrol prices started to rise in response to the Middle East conflict, many Australians – already grappling with high living costs – changed their spending habits.Beyond cutting back on driving, households are slicing deeper into their budgets, with some even forgoing healthcare. Continue reading...

Deepening sense of deadlock despite regional diplomacy as Washington and Tehran show no signs of compromiseHopes of a breakthrough in negotiations between Iran and the US faded further on Sunday, amid a deepening sense of a deadlock in the nearly two-month-long conflict despite intense regional diplomatic activity.Washington and Tehran appear unwilling to moderate rhetoric or make concessions, and there are no negotiations scheduled that might bring the war to a definitive end. Continue reading...

Industry analysts say fuel price surge could lead to canceled flight routes that could snarl travelers’ plansCalifornia’s jet fuel supply has dropped to a level not seen since 2023, as turmoil in the Middle East continues to squeeze the global oil market.As of 17 April, the state’s jet fuel stock was just over 2.6m barrels, in comparison to 3.2m barrels two years prior, according to the California energy commission (CEC), which publishes a refinery stocks data dashboard. Continue reading...