Middle East war

Iran and Oman have made progress toward a deal to reopen the Strait of Hormuz, a potential breakthrough that could help wind down the war in the Middle East.

OPEC+ members including Saudi Arabia and Russia are expected to increase oil production quotas for September by 188,000 barrels per day, according to an analyst at Rystad Energy. The increase is likely to be the last in the current series of adjustments amid disruptions from the Middle East war.

Iranian pilgrims entered Iraq for the Arbaeen ceremonies, with some expressing anti-US sentiments by stamping a portrait of US President Donald Trump. The event occurs amid regional tensions and fresh strikes involving Iraq.

The US economy grew at a 1.5% rate in the second quarter, below expectations, as the slowdown is attributed to the ongoing impact of the Middle East war.

Shell's profits more than doubled in the second quarter, with adjusted earnings of $9.84 billion, driven by rising oil prices linked to the Iran war. This marks the company's best result since mid-2022.

The US military launched retaliatory strikes on Iran following Tehran's attacks on US bases in Jordan, reigniting Middle East conflict and involving Iran's proxies. The strikes ended a week-long lull in fighting and undermined hopes for renewed negotiations.

Hong Kong taxi and minibus drivers urge the government to extend a two-month liquefied petroleum gas (LPG) subsidy amid uncertainty over Middle East conflicts. They warn that ending the subsidy could raise monthly operating costs by up to 33%, as the policy offers a 50 HK cents per litre rebate on LPG for taxis, minibuses, and school buses.

US and Saudi forces struck an Iraqi militant alliance, expanding the Middle East war beyond Iran to involve Iran's proxies. Iran launched missiles at Jordan, marking its first regional attack since a pause in fighting with the US began.

Philippine President Ferdinand Marcos Jr. will deliver his State of the Nation Address amid a major corruption scandal implicating key allies, an impeachment trial for his estranged vice president, and heightened security due to bomb threats in Manila. Marcos is expected to address new programs to mitigate the Middle East war's economic impact following a declared energy emergency.

The United Nations urged the safe evacuation and repatriation of approximately 6,000 sailors facing a 'dire humanitarian and human rights crisis' in the Strait of Hormuz, linked to the Middle East war. UN human rights chief Volker Turk, through his spokeswoman Shabia Mantoo, called for urgent action to address their plight.

The US House of Representatives passed a symbolic resolution urging President Donald Trump to halt military action against Iran, though the concurrent resolution lacks legal force and is unlikely to influence Trump's actions as the Middle East conflict escalates.

The US and Iran have engaged in strikes, with attacks potentially opening a new front in the Middle East war.

Yemen's Houthi rebels claim to have attacked two Saudi oil tankers. The Houthis, supported by Iran, have launched strikes in the Red Sea, potentially marking a new front in the ongoing war between the US and Iran.

Iran has pledged to continue its strikes in the Middle East amid ongoing conflict, with its Houthi allies attacking Saudi shipping in the Red Sea. US Secretary of State Marco Rubio stated the Houthis were 'suckered' into the attacks by Iran.

TotalEnergies reported an $11.2 billion profit over six months during the Middle East war. The company's refining and petrochemical operations in Antwerp, Belgium, were highlighted in the context of this financial performance.

The Houthis claimed to have attacked the Saudi-flagged tankers ENCELIA and LAYLA using missiles and drones, citing a violation of a blockade decision. The attack is described as opening a second front in the Middle East war.

The State Department issued a 'worldwide caution' for Americans due to the Middle East war. The US conducted its 10th consecutive night of attacks on Iran following the deaths of three soldiers.

The US State Department issued a worldwide caution for Americans due to the Middle East war. The US has conducted 10 consecutive nights of attacks on Iran following the deaths of three soldiers.

The US government issued a worldwide caution for Americans due to ongoing conflict in the Middle East. The US has conducted consecutive attacks on Iran for ten nights following the deaths of three soldiers.

The US State Department issued a 'worldwide caution' for Americans due to the Middle East war. The US conducted its 10th consecutive night of attacks on Iran following the deaths of three soldiers.

Gold prices remained steady as traders observed developments in the Middle East conflict to assess potential impacts on inflation through energy prices.

Brent crude reached a one-month high price as renewed fighting between the United States and Iran caused investor uncertainty. Asian equities showed mixed performance due to concerns over a prolonged Middle East war.

Health workers in northern Nigeria report increased child malnutrition cases linked to the war in the Middle East. The conflict's knock-on effects are causing surges in malnutrition and poverty among Nigerian children.

The United States and Iran engaged in renewed military conflict, with US strikes on Iran and Iranian attacks on US allies in the Gulf. The escalation occurred a month after a preliminary peace deal aimed to end the conflict, which began in late February with US-Israeli strikes on Iran.

South Korea’s central bank raised its key interest rate from 2.5% to 2.75% for the first time since January 2023 to address inflation driven by the Middle East conflict and energy costs, as well as high household debt. The decision followed stronger-than-expected economic growth fueled by semiconductor exports linked to global AI demand, prompting the government to revise its 2026 growth forecast upward to 3%.

South Korea’s central bank raised its key interest rate for the first time in over three years to address inflation exacerbated by the Middle East war and to slow the growth of high household debt.

US inflation dropped to 3.5% in June, exceeding expectations, driven by falling petrol prices. Traders adjusted their forecasts for Federal Reserve rate hikes as energy cost declines mitigated price increases linked to the Middle East conflict.

The Middle East War is expected to delay the liquefied natural gas (LNG) glut by one year, according to BNEF. The analysis highlights the conflict's impact on global energy market timelines.

Coffee prices in the UK are rising due to factors including El Niño-affected harvests, increased wages, higher taxes, and energy costs linked to the Middle East war. Some baristas now charge £6.50 for a flat white, mirroring recent price hikes for pints of beer.

Iranians were preparing to bury their slain leader Ali Khamenei in his hometown of Mashhad as US strikes targeted Iranian forces near the Strait of Hormuz. US Central Command stated the strikes aimed to degrade Iran's ability to threaten navigation in the strategic waterway.

A Maldives holiday was cancelled due to the Middle East war, but a last-minute trip to Turkey provided an equally enjoyable experience without flight chaos or jet lag.

India is expanding domestic crude oil exploration in response to energy supply disruptions caused by the Middle East war, which affected shipments through the Strait of Hormuz. The country, a major oil importer, faces challenges due to US-Iran conflict-related restrictions, though a temporary deal has eased some tensions.

India is expanding domestic oil exploration to address energy supply shortages caused by the Middle East war. The oil minister announced plans to bid out 250,000 square kilometers of unexplored areas, focusing on regions like the Andaman and Nicobar archipelago, and collaborating with international firms like Petrobras and BP.

Top Iranian officials paid final respects to supreme leader Ali Khamenei as funeral ceremonies began, with millions expected to gather in Tehran before his burial. Khamenei was killed four months ago at age 86 in the opening US-Israeli salvo of the Middle East war.

UK summer bookings at hotels and holiday parks have increased as Britons avoid overseas holidays due to concerns over flight cancellations, higher air fares, and EU border delays. The surge is linked to airlines raising fares due to higher jet fuel costs from the war in the Middle East.

The body of Iran’s supreme leader, killed in US-Israeli strikes that triggered the Middle East war, arrived at Tehran’s Grand Mosalla ahead of a days-long funeral. Millions and foreign dignitaries are expected to attend, with calls for a massive turnout to avenge his death.

The body of Iran's supreme leader, Ali Khamenei, arrived at Tehran's Grand Mosalla for his funeral following US-Israeli strikes that triggered the Middle East war. Millions and foreign dignitaries are expected to attend the Saturday ceremony, with the coffin displayed under Iran's tricolour flag.

Indirect talks between US and Iranian officials in Doha, Qatar, aim to end the Middle East war, facilitated by Qatari and Pakistani mediators. A diplomat confirmed the negotiations, which are based on a memorandum of understanding.

Iran is preparing a grand funeral for Ayatollah Ali Khamenei, killed in US-Israeli air strikes. The funeral, delayed during the Middle East war, will proceed as Iran and the United States observe a ceasefire under a preliminary deal. Khamenei, a spiritual figure for many Shias, was 86 and died at his compound in the centre.

Indian sailors have cleared the Strait of Hormuz after being stranded there for months due to the Middle East war but some fear returning to the Gulf to sustain their livelihoods. India is a major global contributor of seafarers, and over 3,600 sailors have been aided by the shipping ministry since the war began.