Iran reviews the US response to its 14-point peace plan as a bulk carrier reports being attacked near the Strait of Hormuz, with the US-Iran war entering its tenth week.
The UK government unveils new contingency rules allowing airlines to cancel flights weeks ahead over fuel shortages without losing valuable airport slots.
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.
The Trump administration warns shipping companies they face sanctions if they pay Iran tolls for passage through the Strait of Hormuz, as Trump says he is ’not excited’ by Iran’s latest peace proposal.
The US Treasury has issued a notice warning that any individual or company paying Iran a ’toll’ for passage through the Strait of Hormuz risks violating US sanctions.
Iran sends response to U.S. amendments on draft peace agreement via Pakistani mediators, pushing international oil prices sharply lower as Brent crude falls below $110.
The CEO of Yara, one of the world’s largest fertiliser producers, warns that disruption to fertiliser supplies due to the Iran conflict could cost up to 10 billion meals per week, with poorest countries hit hardest.
Brent crude surged past $126 a barrel — the highest since 2022 — after reports the US military is preparing new strike options against Iran. The ongoing closure of the Strait of Hormuz continues to disrupt global energy supplies.
Brent crude briefly surged above $126 per barrel, the highest since 2022, after reports the US military will brief Trump on new strike options against Iran.
International oil prices briefly exceeded $126 per barrel, the highest level since 2022, driven by escalating US-Iran tensions and concerns over the Strait of Hormuz.