Tanker

• An oil tanker exploded and caught fire on Monday after colliding with mines in the Strait of Hormuz amid escalating US-Iran tensions. • S&P 500 futures dropped 0.7% and Nasdaq futures fell 1.6% as the incident raised risks for global energy supplies. • President Donald Trump stated he expects the conflict with Iran to end this year, potentially shortly after the US midterm elections.

• Crude oil prices reached a 15-week high after Iran fired missiles in retaliation for the U.S. destroying five Iranian oil tankers. • The price of a barrel of oil surpassed $100 following the escalation between the two nations. • This volatility creates immediate cost pressures for global energy markets and transportation sectors.

Officials said US aircraft carrier and destroyer avoided attacks before three Iranian tankers were struck by the USThe US military said Saturday it struck three Iranian oil tankers after US navy warships came under missile attack, further escalating tensions in the region and warning it would “if necessary, destroy Iran’s limited and exposed oil fleet”.According to the military, a US aircraft carrier and destroyer avoided “multiple unprovoked Iranian attacks” while patrolling the region. No US personnel were injured. Continue reading...

US targets Iran’s Larak Island in first exchange of fire in more than a month, sparking reprisals against US forces in Jordan and UAEUS strikes Iranian launchers in strait of Hormuz, prompting Iranian retaliatory attacksWelcome to our live coverage as hostilities between the US and Iran flared again for the first time in a month, with American strikes on Iran prompting retaliation from Tehran.A supertanker caught ⁠fire and was brought to a complete ⁠halt after ⁠hitting two naval mines in ⁠the southern strait of Hormuz, Iran state ⁠TV reported on Monday, ​citing ‌a statement ‌from the Islamic Revolutionary Guard Corps.Iran’s supreme leader called the US and Israel enemies of all Islamic nations. In a written message issued six months on from the start of the war, Ayatollah Mojtaba Khamenei also urged rulers of Muslim nations to “know your real enemy, understand its plans and confront it”, the official Irna news agency reported.Israel’s Shin Bet security agency says it urgently evacuated prime minister Benjamin Netanyahu’s oldest son from the US due to a threat against him. In a brief statement the Associated Press obtained on Sunday, the Shin Bet confirmed there had been a “significant threat” to Yair Netanyahu, without elaborating.US treasury secretary Scott Bessent will step up efforts to isolate Iran economically as he hosts G20 counterparts this week, a US official has said.Iranian president Masoud Pezeshkian is due to take part in a summit starting on Monday of the Shanghai Cooperation Organisation, a regional bloc that seeks to be a counter-influence to the west. Russia’s Vladimir Putin is expected to hold separate bilateral talks with Pezeshkian and China’s Xi Jinping, among other leaders, a Kremlin spokesperson said. Continue reading...

• The United Arab Emirates has accused Iran of launching "unprovoked attacks" against two UAE tankers traveling through the Strait of Hormuz. • President Trump responded to the escalation by dismissing Iran as "all talk and no action," claiming the nation is no longer the "bully of the Middle East." • The incident heightens regional tensions as the U.S. continues its push to prevent Tehran from acquiring nuclear weapons.

• 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.

• President Trump has threatened "decapitation" strikes against Iran, stating the country is on its "very last chance" to reach a deal. • In response to a Houthi-declared blockade, six Saudi-operated tankers have been diverted around Africa to ensure safe passage. • Iran's Foreign Ministry is currently in negotiations with Oman to establish a temporary safe route for maritime vessels.

Energy prices have soared again since fighting between US and Iran resumed two weeks ago as conflict spreads across Middle EastMiddle East crisis live – latest updatesIran said it struck two tankers trying to pass through the strait of Hormuz under the escort of the US military, as Donald Trump gathered his cabinet at to discuss the stalling war and rising prices as midterm election in the US loom.Iran’s Islamic Revolutionary Guard Corps said they had hit two tankers trying to pass through the strait on Friday. Continue reading...

Conflict continues across the region as White House announces nuclear technology agreement. Plus, the artist who flattened a Tesla with a tankGood morning. The US has signed a landmark nuclear deal with Saudi Arabia that could allow the kingdom to enrich uranium in the future. The deal will be submitted to Congress for review, where it could face opposition among lawmakers who fear a lack of monitoring safeguards.In lengthy talks stretching over more than one administration, the US has feared that Riyadh would look elsewhere for nuclear technology if the US did not provide what it wanted. Saudi Arabia has long said that if it does not partner with the US, it could do so with China or Russia, which have different proliferation standards.Why is a uranium deal with Saudi Arabia controversial? The full details of the deal have yet to be released, but it comes as the US’s war with Iran is being fought in part to prevent Tehran enriching uranium domestically and make it near impossible for Iran to build a nuclear weapon. Saudi Arabia has in the past said it would need a nuclear weapon if Iran acquired one. Kenneth Roth has analysed why Trump would agree it right now.What are the latest developments in the war? The US military launched its 12th successive night of strikes, which have now widened to western and central Iran. In attacks lasting five hours, the US claims to have struck military targets including maritime capabilities, missile and ⁠drone storage facilities, coastal surveillance sites and air defense assets. Yemen’s ⁠Houthi militia also attacked two ​Saudi Arabian oil tankers, the Iran-aligned group said on Thursday, with a Saudi news agency later confirming one of the vessels was ablaze in the Red Sea. Continue reading...

• Yemen’s Houthi rebels claim to have attacked tankers in the Red Sea, asserting that the vessels violated their established blockade. • The US military has launched its 12th consecutive night of strikes against Iranian-linked targets to degrade Tehran's ability to threaten shipping in the Strait of Hormuz. • In a significant diplomatic shift, the US has signed a nuclear deal with Saudi Arabia to stabilize regional security.