Iran War

• On August 8, 2026, the Islamic Revolutionary Guard Corps (IRGC) announced that the Strait of Hormuz would be reopened to maritime traffic. • The decision follows a reported agreement where the United States accepted specific conditions set by Iran to de-escalate tensions. • This move is critical for global energy security, as the strait is a primary chokepoint for the world's oil supply during the ongoing US-Israel conflict with Iran.

• Iran has demanded compensation from the United States and set six crucial conditions that must be met before it will reopen the Strait of Hormuz. • The closure follows more than four months of conflict between the two nations, which has triggered renewed escalations in Yemen. • This maritime blockade has caused significant economic fallout, leading to a sharp increase in global food and fuel prices.

• Iran reports it is nearing a deal with Oman to manage the Strait of Hormuz, though it demands concessions from the US before reopening the waterway. • UN Special Envoy Hans Grundberg warned Friday that Yemen faces its highest risk of renewed conflict since the April 2022 truce. • This instability is driven by Houthi attacks on Saudi and Yemeni government forces, alongside strikes on commercial shipping in the Red Sea and Gulf of Aden.

The US president’s profound ignorance of his enemy has led to an impotent cycle of empty threats, analysts sayBeing the subject of mockery may be the most intense of all Donald Trump’s known aversions.Yet more than five months after embarking on a war of choice against Iran, the US president risks attracting ridicule as he struggles to secure a military victory – while repeatedly threatening devastating bombardment against the Tehran regime, only to back down on the pretext of renewed negotiations. Continue reading...

• President Donald Trump criticized "leakers" following reports that the United States has depleted its stockpiles of precision missiles during the ongoing conflict with Iran. • During an Oval Office briefing, Trump expressed confidence in U.S. superiority, stating he does not believe Iran "can go much longer" in the confrontation. • The administration is now actively seeking to secure additional supplies of critical minerals to replenish essential weapons inventories.

• Yemen's Houthi rebels have launched a new wave of deadly attacks targeting Saudi-backed government troops, according to Yemeni state media. • Amidst the escalation, political figures including Cruz have argued that the Trump administration should pursue a strategy aimed at "regime collapse." • Separately, the U.S. Army announced on Friday that it is opening test ranges to private companies developing drones and missiles.

• The conflict involving Iran is expanding across the Middle East, with recent attacks targeting Oman's ports and other regional locations. • Analysts suggest this widening of the war is a deliberate design intended to highlight and exploit various regional vulnerabilities. • The escalation signifies a shift from localized skirmishes to a broader conflict that is drawing in more nations.

By dragging out talks, Tehran aims to damage the US president politically, but some fear a bruised and weakened Trump could only prolong the conflict Tehran has set out a protracted negotiating timetable designed to keep Donald Trump embroiled in the Iran conflict until the midterm elections, in the hope of inflicting the same ruinous blow on his presidency as Jimmy Carter suffered over the 1979-81 US embassy hostage crisis.For many inside Iran, inflicting meaningful revenge on Trump is a legitimate and self-standing war aim, reflected in the mood of those attending the funeral of the late supreme leader Ali Khamenei where demands for retribution were ubiquitous. Continue reading...

US president’s complaint industry ‘making too much money’ comes after his policies boosted corporationsDonald Trump’s statement that oil companies have made “too much money” from the Iran war has angered environmentalists, who say that his policies were designed to benefit those very corporations. If he really believes his own claims, he should impose a windfall profits tax, advocates say. “Trump’s declaration that big oil is ‘making too much money’ belies his accommodation and giveaways to the industry that have enabled its price-gouging – not to mention his disaster of a war of choice against Iran,” said Tyson Slocum, energy program director at consumer advocacy nonprofit Public Citizen. “But like a broken clock that’s correct twice a day, the president is right that oil companies are ‘making too much money’, which means Trump should endorse a windfall profits tax.”ExxonMobil and Chevron on Friday both reported windfall profits for the second quarter of the year. Chevron said its earnings soared nearly 400% to $12bn, while Exxon’s profits more than doubled to $14.5bn. On Monday evening, Trump took aim at those gains, saying the companies “ought to give some of that back to the public”. Continue reading...

President’s comment come after report he had demanded answers from Pete Hegseth over alleged shortagesMiddle East crisis live – latest updatesDonald Trump has lashed out at reports that the US is running short of key munitions in its war with Iran, threatening long prison sentences for officials who leak information about the military’s weapons stocks.The US president claimed on Thursday that the US had “massive amounts” of ammunition and said more was being manufactured and shipped to the region, as his frustration over the conflict spilled into a public attack on the media. Continue reading...

• The UKMTO reported two explosions near a tanker transiting the Strait of Hormuz, though no damage was reported. • Diplomatic talks mediated by Oman are progressing "positively" to reopen the strait, with US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent indicating a deal could be reached imminently. • The proposed agreement would establish a transit system where ships enter the Persian Gulf via an Iranian-controlled route and exit through an Omani-controlled route.

• Diplomatic efforts are intensifying to reopen the Strait of Hormuz, with Iran reporting "positive" progress in talks mediated by Oman. • US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent have indicated progress, suggesting a deal could be reached as early as "today or tomorrow." • The proposed arrangement would allow ships to enter the Persian Gulf via an Iranian-controlled route and exit through a route controlled by Oman.

• The S&P 500 and Dow Jones Industrial Average both closed at record highs, driven by strong corporate earnings and geopolitical optimism. • Investors were reassured by robust earnings reports that highlighted sustained demand for AI-linked technologies, offsetting concerns over high gas prices and persistent inflation. • Market gains were further bolstered by hopes that a diplomatic deal would be reached to end the war in Iran.

• President Donald Trump has threatened that Iran will be "hit very hard" if the Strait of Hormuz is not reopened "very soon." • Despite these threats, a Gulf official indicates there is a 50-50 chance of an Iran-Oman deal regarding the strait by Friday. • While Tehran denies current talks with the US, sources suggest technical negotiations are expected to resume Thursday morning, provided ground developments allow.

• The United States reports that a deal to reopen the Strait of Hormuz is nearing completion following "positive" diplomatic talks between Iran and Oman. • Negotiators are currently focused on expanding safe shipping lanes through the strait, although several key differences between the parties remain unresolved. • This diplomatic push is critical as it attempts to secure global maritime trade routes amidst escalating military tensions between Israel, the US, and Iran.

• The Euro zone economy showed resilience in July, with a revival in the services sector driving overall activity as indicated by the final Purchasing Managers' Index (PMI). • Readings above the 50.0 threshold signaled growth, though Chris Williamson of S&P Global Market Intelligence noted that the business climate remains heavily influenced by geopolitical shifts. • Despite the current growth, the economic outlook is clouded by instability and the ongoing conflict in the Middle East, specifically involving Iran.

• Euro zone business activity surged to an eight-month high in July, driven by a rebound in the services sector and a strengthening manufacturing sector. • New orders reached their fastest growth pace since November, while employment levels stabilized following a six-month trend of job losses. • Despite these gains, the overall economic outlook remains clouded by geopolitical tensions and the potential for war involving Iran.

• President Donald Trump announced the launch of "major combat operations" against Iran on February 28, involving massive joint strikes conducted by the U.S. and Israel. • Simultaneously, U.S.-facilitated diplomatic talks between Lebanon and Israel commenced on Tuesday in Rome to address regional security threats. • State Department spokesman Tommy Pigott stated the goal of these negotiations is to ensure lasting security for Israel and restore Lebanese state authority in the south.

• Iran is targeting AI data centers as part of a strategy to counter military strength by inflicting significant economic damage. • These facilities are critical to the US military and AI industries, as well as Gulf nations like Saudi Arabia and the UAE, which aim to become a global AI hub. • Key investments are at risk, including Saudi Arabia's use of its $1 trillion sovereign wealth fund and the UAE's $500 billion "Stargate" project.

Foreign ministry says efforts to reach resolution between the US and Iran were continuing despite conflicting statements from Trump and TehranHello and welcome to our live coverage of the Middle East.Qatar’s foreign ministry said efforts to reach a diplomatic solution between the US and Iran were “ongoing”, despite conflicting statements from Tehran and Washington over whether negotiations had resumed. Continue reading...

US president hits out at ExxonMobil and Chevron, saying they should ‘give some of that back to the public’Business live – latest updatesDonald Trump has criticised oil companies for “making too much money” from the global energy market disruption caused by his war on Iran.Brent crude had been trading at about $70 (£52) a barrel before the first US-Israeli strikes at the end of February, but by the end of April had soared as high as $126 and is now trading at about $85 a barrel. Continue reading...

Energy company’s $5.73bn quarterly profits come after Shell posted second highest quarterly earnings on recordBusiness live – latest updatesBP has reported its highest quarterly profits since the first year of Russia’s war on Ukraine because of rising oil and gas prices caused by the Middle East crisis.The oil company’s quarterly profits more than doubled to $5.73bn (£4.27bn) in the three months to the end of June, up $2.5bn from the quarter before, as the ongoing conflict in the Middle East continued to disrupt energy exports from the Gulf. Continue reading...

• Spain is facing a migrant crisis at the Ceuta border, which the report links to geopolitical pressures and rhetoric from the U.S. and Israel regarding Morocco. • In response, Italy has implemented targeted checks on non-EU nationals arriving from Spain, while France has deployed drones and four mobile units to reinforce its borders. • European nations are divided on the solution, with Finland, Denmark, and Czechia calling for Spain's suspension from the Schengen Area.

• President Donald Trump has warned Iran that it has a "last chance" to sign a deal, though he maintains he is under no specific time constraint. • Iran has stated it is not currently in talks with the U.S. but is discussing a new Strait of Hormuz route with Oman. • Expert Paul Salem of the Center for Strategic & International Studies suggests that while the Iranian regime can withstand economic strain, Trump may face a heavy political cost within the U.S. electoral system.

• U.S. stock futures trended higher on Monday as investors reacted to signs of a fragile de-escalation of tensions between Iran and other Middle Eastern powers. • Market participants are shifting focus toward a busy week of corporate earnings, with a specific emphasis on the upcoming report from data analytics firm Palantir. • Beyond corporate results, traders are awaiting the release of key economic indicators to gauge the current health of the U.S. economy.

• On August 2, 2026, updates were released regarding the ongoing US-Israel war against Iran and Israel's military operations in Gaza and Lebanon. • Donald Trump announced that formal negotiations with Tehran are scheduled to begin this coming Monday. • These developments are critical as they signal a potential diplomatic shift amid escalating regional conflict and active combat in three separate fronts.

• President Trump announced that talks regarding the US-Iran conflict will resume on Monday after he previously called off planned strikes. • Former Palestinian Authority leader Mohammed Dahlan claimed that Jared Kushner is working with Israel to halt attacks on Gaza, though the White House and State Department have not yet commented. • Israeli Energy Minister Eli Cohen contradicted reports of a ceasefire, stating there is no deal to stop attacks and arguing that Israel should take full control of the Gaza Strip, where it already controls 70%.

• Former President Donald Trump and the Saudi crown prince discussed the necessity of dialogue to de-escalate rising tensions in the Middle East. • Trump stated that he cancelled planned attacks on Iran while exploring a potential deal that could involve reopening diplomatic channels. • According to The Washington Post, Gen. Alexus Grynkewich of the US European Command warned Pentagon officials that the US lacks sufficient naval assets to sustain the interception of Iranian ballistic missiles targeting Israel.