Southeast Asian governments face renewed energy shocks and trade disruptions due to revived US-Iran hostilities, prompting ASEAN foreign ministers to express grave concern and urge an immediate cessation of fighting.
At least seven explosions occurred near a U.S. military base in Irbil, Iraq, with smoke rising, as the U.S. concluded its 13th night of strikes against Iran. This comes amid escalating tensions, Houthi attacks on Saudi oil tankers, and threats to key shipping lanes like the Strait of Hormuz and Bab el-Mandeb.
Oil prices surged above US$100 a barrel amid US President Trump's threat of a "massive attack" on Iran and a Houthi blockade. The Commonwealth Games opened in Glasgow, while Australia faces domestic issues including an Origin Energy data hack and Labor party dissent.
Oil prices surpassed $100 a barrel for the first time in two months due to escalating Middle East tensions, including Houthi militia attacks on Saudi oil tankers in the Red Sea. This renewed conflict threatens global oil supplies, pushing up government borrowing costs and causing stock market declines amid inflation fears.
A Saudi-owned vessel was attacked in the Red Sea, causing a fire, confirmed by Saudi state media. Yemen's Iran-backed Houthi group claimed responsibility, stating it launched missile and drone attacks on two Saudi oil tankers as part of a 'maritime blockade' linked to the US-Iran conflict, raising concerns about escalating regional tensions and global oil supply disruption.
Oil prices surpassed $100 a barrel for the first time in two months due to escalating Middle East conflict, particularly Houthi attacks on Saudi oil tankers and rising US-Iran tensions over Red Sea and Strait of Hormuz oil flows.
Russia maintains contact with the US on Ukraine but sees no escalation in conflict resolution efforts. Tensions between the US and Iran persist, with experts speculating on the use of ceasefires for strategic planning. The EU struggles to agree on new sanctions against Russia.
US President Trump approved a civil nuclear deal allowing Saudi Arabia to build reactors with American technology and potentially enrich uranium, sparking concerns of a Middle East nuclear arms race. The accord, a contrast to the UAE deal, aims to strengthen US-Saudi ties and counter Russian/Chinese influence, but critics warn of proliferation risks and foreign policy incoherence given US actions against Iran.
U.S.-Iran tensions escalated over the Strait of Hormuz as Pakistan tried to revive a collapsed interim ceasefire deal. The fighting pushed oil prices higher and widened to Red Sea and regional attacks on civilian infrastructure.
Yemen's Houthi militia claimed responsibility for attacking two Saudi oil tankers, Encelia and Layla, in the Red Sea using missiles and drones. A Saudi news agency confirmed the Encelia was ablaze near Jizan. This comes amidst ongoing US military strikes in Iran and escalating regional tensions.
Bitcoin held firm near five-week highs despite escalating US-Iran tensions, with US stocks also shrugging off risks. Analysts suggest a potential short squeeze in the S&P 500, while some traders predict Bitcoin will outperform US stocks in the foreseeable future.
US Secretary of State Marco Rubio met Chinese counterpart Wang Yi in Manila to manage bilateral tensions ahead of a Trump-Xi summit. Discussions covered China's South China Sea conduct, US war against Iran, and US election meddling claims, with Rubio reiterating US defense treaty obligations to the Philippines after a recent maritime incident.
President Trump plans 100-200% tariffs on generic drugs by 2028 to reshore production, impacting Indian pharma. US and China are set for AI talks amid IP theft concerns. US strikes Iran for an 11th night as Secretary Rubio questions Iran's seriousness in peace talks. Alphabet and Tesla earnings are also due.
Southeast Asian foreign ministers expressed "serious concern" over renewed US-Iran hostilities, urging de-escalation to protect global energy and trade. The bloc also addressed South China Sea tensions, with US Secretary of State Marco Rubio criticizing China, coinciding with a deepening China-Philippines standoff near Second Thomas Shoal.
Analysts warn of renewed inflation fears driven by escalating US-Iran tensions in the Middle East, which keep oil prices high. BlackRock estimates a 0.8 percentage point increase to global inflation, particularly affecting energy-reliant regions like Europe and Asia. This environment reinforces the Federal Reserve's hawkish stance, prompting calls for diversified portfolios.
Vessel crossings in the Strait of Hormuz significantly decreased after US-Iran attacks. Yemen's Houthis declared a naval blockade on Saudi Arabia, threatening global energy supplies, and a tanker reported being struck by a projectile in the strait.
Hundreds of U.S. diplomats evacuated from the Middle East due to escalating tensions with Iran remain in limbo, unsure when they can return to their posts. This situation exacerbates existing State Department staffing shortages under the Trump administration, drawing criticism from lawmakers.
Oil prices surged after President Trump vowed retaliation for US soldier deaths, and Houthi militants declared a maritime embargo on Saudi Arabia, escalating US-Iran tensions and raising concerns about global supply disruptions.
During a White House press conference, President Trump addressed Iranian Supreme Leader Khamenei, claiming US strikes obliterated Iranian nuclear sites and threatening further bombing if Iran enriches uranium. Iran's Foreign Minister Abbas Araghchi demanded a respectful tone for any deal, while debate continues over the effectiveness of US strikes and Iran's retaliatory actions.
Oil prices showed mixed movements Monday, paring gains after Iran indicated potential negotiations with the U.S. amid ongoing American strikes and casualties. Renewed hostilities raise concerns over the Strait of Hormuz's oil transit security.
US diesel prices have again risen above $5 a gallon, with gas nearing $4, returning to pre-June highs. This surge is attributed to renewed US-Iran diplomatic uncertainty, new airstrikes, and unpredictable White House rhetoric, leading to universal cost increases.
Former President Donald Trump attended the World Cup final at MetLife Stadium, watching Argentina and Spain, and discussed future hosting with FIFA President Gianni Infantino. His attendance coincided with escalating US-Iran tensions and his social media posts on domestic political issues.
Bitcoin dipped below $62,500 at Wall Street's open, extending losses as fresh US-Iran military strikes and earnings disappointments pushed stocks and crypto lower. Traders noted choppy, rangebound price action, with some analysts identifying a bear-market trend line forming.
Israel is preparing to receive dozens of additional U.S. aerial refuelling aircraft as Washington reinforces its military presence in the region. This move comes amid escalating hostilities with Iran following the collapse of an interim ceasefire, though Israel has not participated in the latest U.S. strikes.
