U.S.-Iran conflict

Australia’s stock benchmark reached an intraday record as concerns over the US-Iran conflict eased and domestic economic signals improved.

McDonald’s reported a strong second-quarter profit of $2.36 billion and announced Skye Anderson as the new president of McDonald’s USA. U.S. same-store sales rose 0.8%, though slower than the previous year, while global sales increased 1.3%. The company cited high gas prices and consumer concerns about the U.S.-Iran conflict as challenges.

Millions of Shiite Muslims are participating in the annual Arbaeen pilgrimage in Karbala, Iraq, despite regional tensions and fears of escalation in the U.S.-Iran conflict.

Saudi Crown Prince Mohammed bin Salman urged President Donald Trump in a phone call to avoid escalating the U.S.-Iran conflict, expressing concerns that potential U.S. strikes on Iran's infrastructure could provoke retaliatory attacks against Gulf energy facilities. Saudi Arabia has joined the U.S. in targeting Iranian-backed militias in Iraq but seeks renewed negotiations to resolve the ongoing conflict.

US embassies in the Middle East issued security alerts urging American citizens to 'consider departing' due to potential escalation in the US-Iran conflict. The warnings followed President Donald Trump's threats to strike Iran 'very hard' and reports of possible US attacks on Iranian energy infrastructure. Advisories included avoiding military bases and preparing for travel disruptions.

Indian Oil Corp purchased a record share of its crude oil from the spot market during the April-June quarter due to the US-Iran conflict disrupting Middle East supplies. The company is adjusting its procurement strategies amid geopolitical tensions.

ExxonMobil and Chevron reported record profits in Q2 2023 as U.S.-Iran conflicts disrupted oil shipments through the Strait of Hormuz, driving Brent crude prices above $100 per barrel. Lawmakers proposed a windfall tax on oil companies' profits from 2026 onward, with proceeds to be redistributed to consumers.

Chevron's profits nearly quadrupled to $12.07 billion in the second quarter, while U.S.-Iran tensions disrupted oil shipments through the Strait of Hormuz, causing global fuel price spikes and shortages. Exxon Mobil also doubled its profits to $14.53 billion during the same period as Brent crude prices surged to over $100 a barrel.

Major U.S. oil companies like Exxon Mobil and Chevron reported record profits in Q2 as U.S.-Iran tensions disrupted oil shipments through the Strait of Hormuz, driving global crude prices above $100 per barrel. The conflict caused fuel shortages and price hikes worldwide, prompting lawmakers to propose a windfall tax on oil companies' 2026+ profits.

American oil companies Exxon Mobil and Chevron reported significant profit increases during the spring as U.S.-Iran tensions disrupted oil shipments and global fuel prices surged. The conflict, which blocked shipping through the Strait of Hormuz, drove Brent crude prices above $100 a barrel, leading to higher revenues for major oil producers.

ExxonMobil Holdings Corp. narrowly missed profit forecasts despite rising crude prices and expanding fuel-making margins. The US-Iran conflict entering its sixth month is cited as a factor affecting refining results.

Analysts expect major oil companies to report large profits as the U.S.-Iran conflict disrupts petroleum shipments. The conflict between the two nations is impeding the movement of oil.

The Bank of England warned that renewed U.S.-Iran conflict could drive energy prices higher, risking inflation and economic instability in the U.K. The central bank kept interest rates unchanged but acknowledged uncertainty over the war's impact, modeling scenarios where inflation could peak at 3.2–4.5% by 2027. MPC members were divided, with three voting for a rate hike.

An Iranian strike damaged a Chinese firm's building in northern Kuwait, killing a worker. Jordan's air defenses shot down five missiles launched from Iran.

The US Federal Reserve is expected to maintain current interest rates during its meeting, though market expectations vary between no change and a quarter-point increase. Economic uncertainty, driven by inflation concerns and a potential US-Iran conflict, complicates future rate projections. New Fed Chair Kevin Warsh has signaled the central bank will avoid providing forward guidance to markets.

General Michel Yakovleff argues that the current pause in US-Iran hostilities reflects structural constraints like military logistics and sustainability rather than diplomatic progress. He highlights how continued US military operations against Iran could undermine global commitments and alliance stability.

The number of vessels passing through Bab el-Mandeb increased to 28, a four-day high, while traffic through the Strait of Hormuz remained low, according to Kpler shipping data. The rise comes amid optimism about a potential resolution to the U.S.-Iran conflict.

Global oil prices are hovering around $90 per barrel amid a volatile U.S.-Iran conflict. The Federal Reserve is set to announce an interest rate decision on Wednesday. Madison Mills, a senior AI reporter for Axios, provides further analysis.

A CBS News/YouGov poll of 2,193 respondents found that 77% believe the Trump administration has faced more difficulty managing the U.S.-Iran conflict than anticipated. About 20% said the conflict has proceeded as smoothly as expected.

Equinor CEO Anders Opedal stated Europe is unlikely to reach its 80% winter gas storage target, with current levels at 54%, the second-lowest in 15 years. The shortfall is attributed to a tight global LNG market, Middle East supply disruptions, and competition from Asian buyers for LNG shipments.

Consumer confidence in the UK increased due to factors including the Sun, football, and Burnham. The survey was conducted in the first half of July before the new prime minister took office and ahead of the latest escalation in the US-Iran conflict.

The US-Iran conflict and Trump’s tariffs are reshaping Latin America's economic and security landscape, with Brazil retaliating through trade measures and rising fuel prices in Rio de Janeiro.

Stocks of AI-focused chip companies and other tech firms declined, dragging down Wall Street indices like the S&P 500 and Nasdaq. Crude oil prices surged nearly 3% amid escalating U.S.-Iran conflict and shipping disruptions in the Strait of Hormuz. Super Micro Computer and AT&T saw significant stock gains due to earnings previews and profit expectations.

Jordan is emerging as a frontline state in the widening US-Iran conflict as Iranian attacks intensify. The article questions why the Hashemite Kingdom is a target for Tehran.

Israel's finance minister, Bezalel Smotrich, stated that the US fighting Iran is the best outcome for Israel, emphasizing Israel's non-involvement in the conflict. The US and Israel initiated coordinated attacks on Iran on 28 February, prompting retaliation from Tehran.

Iranian Foreign Minister Abbas Araghchi emphasized peace and security as priorities in bilateral relations with Pakistan during a meeting with the newly appointed Pakistani ambassador. Iranian Interior Minister Eskander Momeni is in Islamabad to discuss the US-Iran conflict with Pakistani leaders, as both nations seek to strengthen cooperation amid regional tensions and economic initiatives like the Iran-Pakistan gas pipeline.

ASEAN's top diplomats are meeting as tensions between the U.S. and Iran create uncertainty in Southeast Asia. The region faces challenges from maritime disputes with China and a stalled regional effort to resolve Myanmar's civil war.

The average U.S. gasoline price has risen to $4 per gallon as the U.S.-Iran conflict escalates again, according to AAA. The price increase follows the collapse of a ceasefire between the two nations, pushing the average up from around $3.87.

The national average gas price reached $4.003, the first time in over a month it has exceeded $4, according to AAA data. The increase coincides with the escalation of the U.S.-Iran conflict.

Michigan gas prices have surpassed $4, increasing by 12 cents compared to last month and about $1 compared to last year, amid escalating US-Iran conflict.

Prime Minister Shehbaz Sharif warned that renewed US-Iran tensions could negatively impact Pakistan's economy, while reviewing austerity measures and economic preparedness. He highlighted the country's stable economy, public support for conservation efforts, and government actions to manage fuel supply challenges.

Oil prices surged 10% Monday, the largest single-day increase since 2020, driven by renewed US-Iran conflict. US President Donald Trump announced re-imposing a blockade and tolls on the Strait of Hormuz, ending a month-long ceasefire, while Iranian hardliners gain strength amid anti-US sentiment. An analyst stated the likelihood of returning to pre-conflict norms is effectively zero.

Trump announced the US will impose a 20% fee on cargo shipped through the Strait of Hormuz to fund a renewed blockade, claiming it is necessary for safety and security. The policy aims to target Iran's shipping activities, with Trump asserting the US will act as the 'guardian' of the strait. The move has contributed to rising oil prices and a breakdown in a tenuous US-Iran ceasefire.

The U.S. Strategic Petroleum Reserve is under strain due to repeated oil releases by the Biden and Trump administrations, aging infrastructure, and reduced operational capacity. Concerns about its ability to respond to future energy disruptions, like the U.S.-Iran conflict affecting the Strait of Hormuz, highlight the need for significant investment in the Gulf Coast-based reserve.

Retired US General Mark Kimmitt warns that renewed attacks in the Strait of Hormuz could escalate US-Iran tensions into a broader regional conflict.

Pakistan and Bangladesh agreed to enhance cooperation in combating cybercrime and online fraud during a meeting between their interior ministers in New York. The ministers also discussed expanding police training programs and addressed regional security issues, including the US-Iran conflict and the Middle East situation.

Ayatollah Ali Khamenei, Iran's assassinated supreme leader, was buried in Mashhad's Shrine of Imam Reza after funeral processions. His son Mojtaba Khamenei, proclaimed successor, remains hidden due to injuries from the attack. The funeral occurred amid renewed US-Iran conflict following a truce.

NPR's Scott Detrow interviews Nicholas Burns, a former U.S. Ambassador to NATO, about recent developments in the U.S.-Iran conflict and the ongoing NATO summit. The discussion focuses on implications of Iran-related strikes and NATO's strategic priorities.

US home prices reached an all-time high in June 2026, with the median sales price rising 1.8% annually to $440,600. Existing home sales slowed by 2.4% from May, though annual sales increased 2.8% compared to June 2025. Mortgage rates have risen since spring 2026 amid concerns over the US-Iran conflict and inflation.

Pakistan urges the US and Iran to honor their Memorandum of Understanding (MoU) amid renewed conflict, as attacks raise concerns about a broader regional conflict.