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Oil and stock trading volumes surged minutes before Donald Trump's social media announcements regarding a delay in Iran strikes, leading to a sharp drop in oil prices as he backed off threats, raising questions about potential insider trading and speculation with state secrets.
US President Donald Trump has repeatedly claimed victory in the war with Iran, asserting that the US has won and Iran's military is decimated, while also proposing a 15-point peace plan and expressing cautious optimism as Iran opens the Strait of Hormuz to non-hostile oil vessels.
The ongoing Middle East conflict has severely impacted India's private sector, causing manufacturing to slump and disrupting rice exports, with new warnings of a beer shortage due to the Iran war hitting supply and increasing production costs. In response, the Centre has constituted seven empowered groups to handle the fallout on specific sectors, including oil, gas, fertilisers, supply chains, and inflation, with the war also hitting Indian kitchens with a surge in edible oil prices and pushing up plastic packaging costs.
Experts warn that the ongoing war in the Middle East, particularly involving Iran, is causing fuel and food prices to soar globally, with one financial giant predicting a global recession if oil prices reach $150.
The Trump administration has reportedly sent Tehran a 14-point proposal to end the conflict, including conditions on Iran's nuclear and missile programs, as well as incentives like sanction relief.
Ships with no ties to Israel or the United States would be allowed to pass, the government said, but it was unclear if any vessels would try.
US-Israeli strikes on Iran continue despite claim of talks, with at least 12 killed, 28 wounded in one attack on Tehran.
Senate Democrats' third attempt to advance a resolution that would force the removal of troops from hostilities in Iran without congressional approval was blocked by Republicans.
Malaysia is concerned about food security and rising grocery costs, prompting discussions on whether locally grown and produced food can cushion the nation from global economic shocks caused by the US-Iran conflict.
The ongoing Iranian blockade of the Strait of Hormuz continues to severely impact global energy markets, with Kuwait warning of a catastrophic economic domino effect. Iran's Foreign Minister and Ministry of Foreign Affairs have stated that the Strait remains open to ships from nations not backing US-Israeli aggression, communicating this to the UN. The tightened global fuel supply is particularly affecting Asian nations and causing shortages for fuel retailers in Kenya, leading to increased reliance on coal and raising concerns about potential plane groundings, as European Commission President Ursula von der Leyen highlights a 'critical energy situation.'
Global markets are showing volatility in response to signals of de-escalation in the Iran conflict, with US oil prices tumbling and gold's fall reversing, while the Tokyo stock market saw a significant rise in stock prices as caution over the Iran situation receded.
Sources indicate that the US is expected to send an additional 3000 soldiers to the Middle East, as a buildup continues for possible future operations, though no decision has been made to send troops into Iran.
The United States is deploying 2,000 troops from the 82nd Airborne Division to the Middle East, providing President Trump with more military options as he considers diplomacy with Iran.
Seoul's stock market opened sharply higher, with the KOSPI rising over 3%, driven by growing optimism that Washington is moving to end the month-long war in Iran.
Donald Trump said Tuesday he had sent a peace plan to Iran, expressing cautious optimism about ending nearly a month of war even as fresh violence underscored the fragility of the moment.
The U.S. was said to have sent Iran a peace plan via Pakistan on a day that the Iranians fired a torrent of missiles across the region.
Israel’s military issued a warning late Tuesday about a new salvo of missiles fired from Iran towards the country, confirming that anti-missile defenses were active after multiple alerts throughout the day.
A refinery blast in Port Arthur, initially sparking rumors of Iran retaliation, has been confirmed by officials as accidental, likely caused by a heater or diesel unit, with no injuries reported.
President Trump's approval rating has fallen to a new low of 36% in his second term, impacted by rising fuel prices and his actions in the Iran war, including threats regarding the Strait of Hormuz.
The CEO of Shell has warned that Europe could face significant energy shortages as early as next month, with the situation exacerbated by deepening chaos in the Strait of Hormuz. UK drivers have already incurred substantial additional costs for fuel since the conflict in Iran began.
Iran's Atomic Energy Organization has claimed that the United States and Israel launched an attack near the Bushehr nuclear power plant, with a projectile landing within its premises. Initial reports indicate no technical damage or human casualties from the incident.
Incidents, including car burnings in Antwerp, are being treated as potentially antisemitic across several European countries, including the UK, Belgium, and the Netherlands, following the US and Israeli attack on Iran on February 28, with Belgian officials now assessing the risk of pro-Iranian cells aiming to demonstrate their capacity to act by attacking Jewish sites.
South Korea's Cheong Wa Dae and Prime Minister's office are launching emergency economic teams to respond to the Middle East crisis, while Seoul stocks surged on optimism for an end to the US-Iran conflict.
Amid new violence, tentative signs of a diplomatic solution emerged as President Trump reportedly sent a peace plan and Iran indicated it would open its waters to 'non-hostile' oil vessels.
Senate Republicans blocked a war powers resolution from Sen. Chris Murphy, D-Conn., prompting Democrats to vow to force at least one vote per week on curbing President Trump's authority regarding the Iran conflict.
Members of 82nd Airborne to join other forces in the Gulf ahead of president’s deadline for Tehran to end the conflict