Oil Prices Retreat After Hormuz Surge as Traders Assess Middle East Developments
Oil prices pulled back Tuesday after Brent crude surged nearly 6% the previous day, as traders weigh escalating Iran tensions against ceasefire prospects.
Middle East
Iran Attacks UAE Targets as U.S. Launches Project Freedom in Strait of Hormuz
Iran launched its first attack on UAE targets since the early April ceasefire, firing four cruise missiles at Fujairah and hitting an oil facility with a drone, as the U.S. initiated Project Freedom to escort ships through the strait.
Trump Announces Operation Freedom, US Navy to Escort Ships Through Strait of Hormuz Starting Monday
Trump announces US Navy will begin escort operations Monday for foreign vessels trapped in the Strait of Hormuz, warning Iran that any disruption will be met with force
Trump Announces US Will Begin Escorting Ships Through Strait of Hormuz
Trump announces US military will begin escorting vessels trapped in the Persian Gulf through the Strait of Hormuz, as Iran says it has received a US response to its 14-point peace proposal.
Iran Says It Has Received US Response to 14-Point Peace Proposal
Iran’s foreign ministry confirms receipt of a US response to its 14-point peace proposal, delivered via Pakistan. Trump tells Israeli media the proposal is unacceptable, while hinting military strikes could resume.
Iran Submits 14-Point Peace Proposal as Trump Reviews It with Doubt
Iran has submitted a 14-point peace proposal to the United States via Pakistan in response to a previous nine-point U.S. proposal. Trump says he is reviewing the new plan but remains skeptical, stating Iran has ’not yet paid a big enough price.'
Iran Submits 14-Point Peace Proposal to End War with US
Iran submits a 14-point peace proposal to the US through Pakistan, seeking to resolve all issues within 30 days, but mutual distrust remains the biggest obstacle.
US Approves $8.6bn Emergency Arms Sales to Middle East Allies, Bypassing Congress
The US State Department invokes emergency provisions to approve $8.6 billion in arms sales to Middle Eastern allies without congressional approval, raising concerns about further militarization of the region.
Iran Submits 14-Point Peace Proposal with Strait of Hormuz Deal as US Fast-Tracks $8 Billion Arms Sales
Iran submits a 14-point response proposal to the US and offers a Strait of Hormuz deal, while Trump says he is reviewing the proposal with reservations; simultaneously, the US fast-tracks $8 billion in arms sales to Middle East allies.
UAE Fully Resumes Normal Air Traffic Operations, Lifts War-Time Restrictions
The UAE’s General Civil Aviation Authority announces the full resumption of normal air traffic operations as of May 2, 2026, lifting temporary precautionary measures imposed since the Iran war began on February 28.