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European pump prices hit records as Iran war escalation drives oil higher
Petrol prices hit records in Germany and the Netherlands and European gas futures reached a three-year high, as the Iran-US war escalation drove oil higher, landing the Gulf conflict directly on European household budgets.
Oil rises for second day as Hormuz disruption fears deepen
Oil rose for a second day as US-Iran hostilities deepened fears of prolonged disruption through the Strait of Hormuz, with Brent near $91 and only five commercial vessels a day crossing the waterway.
Europe is heading into winter waiting for Qatari gas that is not coming back
Europe's gas traders have spent the summer betting that the Gulf war would end in time. It has not, and the bill for that bet falls due in November.
Iran's Araghchi says US pressure won't work after Qatar talks in Tehran
Iran's Foreign Minister Abbas Araghchi says diplomacy with the United States can be revived only if Washington accepts that pressure does not work following a meeting with Qatari officials on August 27.
Syria processes first international card payment in over 15 years via Mastercard, QNB
Syria has processed its first international card payment in over 15 years after reconnecting to Mastercard's network, with QNB Syria handling the transaction
US says it has diverted 70 ships enforcing Iran blockade
US Central Command says it has diverted 70 commercial vessels and disabled three since resuming its naval blockade of Iran, which Tehran says has halted its oil exports.
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Iranian mobile roaming cut in UAE, disrupting banking access for expatriates
Iranian mobile operators' roaming has reportedly been cut in the UAE, leaving Iranian residents and travellers unable to receive calls.
Iran says Hormuz will stay shut until US lifts oil sanctions
Iran's parliament speaker Mohammad Baqer Qalibaf says the Strait of Hormuz will not reopen until the US lifts oil sanctions, frees blocked assets and ends its blockade, tying the vital shipping route to a disputed accord he says Washington has failed
Iran says no 60-day deadline in Islamabad understanding with US
Iran's foreign ministry says there is no 60-day deadline in its Islamabad understanding with the US and that it will not set policy under time pressure, distancing Tehran from the Western reading of a mid-June memorandum due to lapse on August 17.
RAGOZIN: Ukraine’s “tide is turning” PR push has backfired
The PR surge which heralded that the “tide is turning” in the Ukrainian conflict is ending up in a debacle. Ukraine can inflict tangible damage on the Russian economy but Russia can take it and give it back in spades.
EU gas stocks sink below 2021 lows before the hardest winter in five years
Europe's gas tanks are emptier than at any point on record for the time of year, and the cargoes that should be filling them are sailing to Asia instead.
Russian view, Tehran's Hormuz trap
The US military strategy has run into a dead end. Alternating strikes and ceasefires have done nothing to shift Iran's stated resolve, and the closure of the Strait of Hormuz has given Tehran the leverage to press its terms.
Russia swings 93% of its rail trade to friendly states as it maps corridors to the Indian Ocean
Russia is stitching together a web of new railway corridors from the South Caucasus to the Indian Ocean, redirecting freight away from Europe towards Asia and the Global South.
US munitions stockpiles run low as Iran war outpaces Ukraine as main drain
US military munitions stockpiles have shrunk sharply since the war with Iran began, with the five-month-old conflict now the main driver of depletion even for weapon systems the US had previously donated heavily to Ukraine.
The Global North's missile crisis
Washington's own stockpile is depleted and its arms industry is scrambling to catch up; Kyiv is chasing spare interceptors from allies who increasingly need their own; and a $300mn arms deal with Turkey, while welcome, does...
Iran's Pezeshkian says Tehran does not seek to widen regional tension
Iran does not want tension and insecurity to spread across the region but will act with full force to defend its security and territorial integrity, President Masoud Pezeshkian said at the launch of a national family-medicine programme.
Iran ties Hormuz reopening to end of US strikes and naval blockade
Iran will not reopen the Strait of Hormuz while US military action and its naval blockade continue, foreign ministry spokesman Esmaeil Baghaei said, calling a safe-passage deal with Oman necessary but not sufficient.
Iran says talks with Oman on new Strait of Hormuz shipping route nearing conclusion
Iran says talks with Oman on a new Strait of Hormuz shipping route are nearing conclusion, but stresses any deal would not by itself reopen the waterway.
Iran issues Gulf-wide energy hit list if Trump carries through on threats to destroy Iran’s energy sector
US President Donald Trump threatened to destroy Iran’s energy sector in a joint operation with Israel, prompting Tehran to issue a hit list of some of the most valuable assets in the Gulf if he carried through with the threat.
Iran's foreign ministry defends Hormuz blockade, tanker strikes as lawful self-defence
Iran's foreign ministry has defended its blockade of the Strait of Hormuz and strikes on tankers as lawful self-defence against US aggression, citing the UN definition of aggression. The US military rejects Iran's claim to control the strait.