Iranian

• President Trump stated on May 9, 2026, that the U.S. is still awaiting Iran's response to the latest peace plan, emphasizing it could arrive 'any minute.' • Wartime fuel prices averaged $4.53 per gallon nationwide, marking a 25-cent increase for the second consecutive week amid ongoing tensions. • The lack of reply heightens risks in the Strait of Hormuz, where recent naval actions underscore fragile ceasefire dynamics.

• US Navy F/A-18 Super Hornet struck two Iranian-flagged oil tankers in the Gulf of Oman on Friday to enforce the American blockade of the Strait of Hormuz. • Iran accused the US of violating the month-old ceasefire, with Foreign Minister Abbas Araghchi calling it a 'reckless military adventure' that undermines diplomacy. • President Donald Trump stated he expects Iran's response to a US peace proposal 'supposedly tonight,' amid ongoing hostilities and JP Morgan warnings of $5 per gallon gas prices.

• The US military carried out strikes targeting Iranian facilities in the Strait of Hormuz area on May 7, 2026, according to Pentagon statements, marking a significant escalation in ongoing US-Iran hostilities. • Iran's state media claimed the US violated a ceasefire agreement by targeting an Iranian tanker, while the Pentagon stated it targeted Iranian facilities responsible for attacks on US forces. • The strikes occur amid negotiations over a potential nuclear deal, with Trump having previously issued ultimatums to Iran and allies, raising concerns about the fragility of diplomatic efforts.

• President Trump's Project Freedom initiative launched Monday with U.S. military operations to guide stranded ships through the Strait of Hormuz, with Trump reporting U.S. forces struck seven Iranian boats during the operation. • The military action represents a significant escalation in Middle East tensions as the U.S. Navy intervened to escort vessels through contested waterways controlled by Iranian forces. • The operation marks the implementation of Trump's declared strategy to secure maritime passage and demonstrate U.S. military commitment to protecting commercial shipping in the Persian Gulf region.

US says it has destroyed six small Iranian military boats – which Tehran denies – while Iran launched barrage of attacks on US-allied United Arab EmiratesDonald Trump sends warships to break Iran’s strait of Hormuz blockadeWe are restarting our live coverage of the US-Israeli war on Iran. The US and Iran launched new attacks in the Gulf on Monday as they wrestled for control over the strait of Hormuz amid dual maritime blockades, taking the region back to the brink of full-scale war.The fresh volleys of missiles and drones came after Donald Trump launched a new effort to get stranded tankers and other ships through the vital energy and trade route that has been virtually shut since the US-Israeli war against Iran began in late February.Trump warned that Iran’s forces would be “blown off the face of the earth” if they attacked US vessels trying to reopen a route through the strait. The president announced the US operation – called Project Freedom – on Monday to help hundreds of ships trapped in the Gulf.Centcom chief Adm Brad Cooper declined to say whether he thought the ceasefire with Tehran that begun on 8 April remained in effect amid Iranian attacks in the region but acknowledged Iran’s Revolutionary Guards tried to “interfere” with Trump’s operation.Iranian foreign minister Abbas Araqchi said Monday’s events showed there was no military solution to the crisis. He said peace talks were progressing with Pakistan’s mediation and warned the US and the UAE against being drawn into a “quagmire by ill-wishers”.Iran’s Revolutionary Guards said on Monday that no commercial vessels had crossed the strait in the past few hours, and that US claims to the contrary were false. Iranian state media also denied reports the US had sunk Iranian vessels.The UK and Saudi Arabia both called for de-escalation after Iran’s attacks on the UAE – the first on the US ally since Washington’s ceasefire with Tehran took effect about a month ago.In Oman, two people were injured by an attack on a residential building in Bukha, on the Hormuz strait’s coastline, an Omani state news agency reported.A fire on a South Korean-operated vessel that had an explosion in the Hormuz strait has been extinguished, ship operator HMM said. South Korea’s foreign ministry said all 24 crew on the HMM Namu – including six South Koreans – were unharmed. Trump blamed an Iranian attack.International Monetary Fund chief Kristalina Georgieva warned that inflation was already picking up and the global economy could face a “much worse outcome” if the war dragged into 2027 and oil prices hit about $125 a barrel. Continue reading...

• Nasdaq and S&P 500 declined on May 4, 2026, following UAE's report of intercepting missiles from Iran amid escalating regional tensions. • Move counters last week's gains where NASDAQ posted a 10-day winning streak led by mega-cap tech on AI optimism and earnings. • Oil and US dollar rose, while gold and silver fell as investors favored risk assets despite conflict worries.

• The United States naval operations in the Gulf of Oman and Strait of Hormuz have caused Iran nearly $4.8 billion in lost oil revenue, according to Pentagon estimates reported by Axios. • Pentagon spokesperson Sean Parnell, citing Press Secretary Joel Valdez, states the blockade enforces sanctions and curbs Iran's maritime oil trade to weaken funding for militant activities. • The Strait of Hormuz remains central to tensions as a vital global oil chokepoint, risking escalation in energy markets and regional stability.