US-Iran War Highlights: Iran threatens strikes on Gulf states if US renews attacks on its territory
US-Iran War Highlights: US President Trump has said that a deal with Iran to reopen the Strait of Hormuz could be announced in the next few hours. Iran blocked the Strait of Hormuz, through which nearly one-fifth of the world's oil passes through, in response to the US-Israeli war on the country.
US-Iran War Highlights: US President Donald Trump has said that a deal with Iran to reopen the Strait of Hormuz could come as early as Wednesday. “It could happen. Trump said. “A lot of progress has been made.”
Oil prices eased Wednesday on hopes of a deal that would allow shipping to resume. Brent crude, the international standard, slipped by 1.2% to $78.43 per barrel early Wednesday.
The US and Iran reached a deal to open the strait in June, only for attacks to resume. In recent days, Trump has again alternately threatened massive strikes and voiced support for diplomatic efforts.
Iran to control Strait of Hormuz?
According to Reuters, the proposed deal would give Iran control over ships entering the Gulf through the Strait of Hormuz. If true, this would be one of the biggest concessions the US has offered Iran so far in the more than five months of war.
Blocking the Strait of Hormuz through which around 20 per cent of the world’s petroleum and crude oil is transported has been the biggest threat Iran had issued before the US and Israel launched the war on February 28.
Following the outbreak of the conflict, Iran made good on its promise and blocked the Strait of Hormuz, a move that economically hit the US allies in the region and threatened the global oil supply. Ever since, Trump has made the unconditional reopening of the Strait of Hormuz a core objective of the war, along with de-nuclearization of Iran.
US officials have repeatedly insisted they would never agree to Iran controlling access to the world's most important trade route for energy supplies.
An agreement that gives Iran authority over traffic through the strait would mean the war launched by the United States and Israel has resulted in a major shift in the balance of regional power in Tehran's favour. Before the war, the strait was freely open to all ships with no fees.
How the previous deal collapsed
The previous MoU between the US and Iran fell apart over how the two sides interpreted Article 5, which concerned the Strait of Hormuz. The MoU stated that Iran would use its best efforts to ensure the safe, free passage of commercial vessels for 60 days. Iran interpreted this language as US recognition of its sole sovereignty to manage and potentially fee ships in the waterway. The US and Gulf allies rejected this, insisting that international law guarantees an open, toll-free strait, which led to the collapse of the MoU and resumption of the hostilities.
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US-Iran War Live: Pakistan PM Sharif arrives in Saudi Arabia amid West Asia tensions
Pakistan Prime Minister Shehbaz Sharif and Chief of Defence Forces Field Marshal Asim Munir arrived in Saudi Arabia on Thursday for a three-day official visit as tensions continue to rise across West Asia, as per PTI.
Sharif was welcomed at King Abdulaziz International Airport in Jeddah by Prince Saud bin Mishaal bin Abdulaziz, Deputy Governor of the Makkah Region, along with other senior Saudi officials.
The Pakistani delegation also includes Defence Minister Khawaja Asif, Information Minister Attaullah Tarar and Special Assistant to the Prime Minister Tariq Fatemi. Deputy Prime Minister and Foreign Minister Ishaq Dar, who recently concluded his visit to Jordan, is also expected to join the delegation in Saudi Arabia.
The visit comes as the conflict in West Asia expands across multiple theatres, including the Red Sea and the Bab al-Mandeb Strait, leading Gulf nations to step up regional security coordination. Sharif last travelled to Saudi Arabia in April, when he held discussions with the Kingdom's senior leadership.
US-Iran War Live: Stocks fall as oil rally boosts treasury yields
A renewed spike in oil prices sent stocks lower while boosting Treasury yields, fueling worries about inflationary pressures ahead of Friday’s jobs report.
Escalating tensions in the Middle East and lack of clarity on a deal to revive the Strait of Hormuz drove Brent crude above $82. Higher energy costs stoked concerns the Federal Reserve will have to raise rates to curb price pressures. The S&P 500 extended losses into a second straight day. Memory companies Sandisk Corp. and Western Digital Corp. tumbled after their results.
The passage of vessels belonging to the US, Israel, and other hostile countries through Hormuz will be prohibited, the semi-official Fars news agency reported, citing details of the Iran-Oman drafted deal. The Houthis attacked Saudi-backed forces in Yemen, raising concerns over a broadening of the war on Iran into a region-wide conflict.
— Bloomberg
US-Iran War Live: Iran panel reviews bill to ban US, Israeli ships from Hormuz
An Iranian lawmaker said a parliamentary committee is reviewing a preliminary bill that would ban US, Israeli and other "hostile" vessels from transiting the Strait of Hormuz, according to Iran's Fars News Agency.
US-Iran War Live: Kuwait orders closure of country's only Iranian school
Kuwait has ordered the closure of the country's only Iranian school, weeks after coming under repeated Iranian attacks during the recent conflict, AFP reported. Authorities revoked the school's licence, suspended new admissions and asked parents to transfer students to other schools.
US-Iran War Live: Yemeni official accuses Houthis of regional aggression, blackmail
Yemeni official Abdul Malik al-Mekhlafi accused the Houthis of pursuing "regional aggression and blackmail", alleging the group is escalating attacks under pressure. He said restoring state institutions in Sanaa is the only way to prevent further attacks in Yemen and across the region.
US-Iran War Live: Oil gains on supply concerns as Houthis attack Saudi deployments in Yemen
Oil prices rose on Thursday after Iran-aligned Houthis said they attacked "Saudi deployments" in Yemen, ramping up concerns about Red Sea shipping, while hopes around Iran-Oman talks to restore flows via the Strait of Hormuz helped cap gains.
Brent crude futures gained $1.74, or 2.19%, to $81.19 a barrel by 10:59 a.m. EDT (1459 GMT). U.S. West Texas Intermediate futures rose $1.40, or 1.86%, to $76.62.
Yemen's Houthis said they carried out missile and drone attacks on "Saudi deployments" in Marib and Hadramout in Yemen on Thursday, and that they killed or wounded hundreds of Saudi-aligned fighters, and destroyed military camps, weapons depots and vehicles.
"The market is going up and down as tensions rise and fall and of course these attacks are a significant development because it is more activity in the other theatre, away from the Persian Gulf, and is a reminder that the Red Sea passageway could still be in jeopardy," said John Kilduff, partner at Again Capital.
— Reuters
US-Iran War Live: At least 30 Yemeni government troops killed as Houthis claim responsibility for attacks, says report
At least 30 Yemeni government soldiers were killed in attacks on military camps in the provinces of Marib and Hadramout on Thursday, government sources said, adding that the death toll was expected to rise, as per Reuters.
The Iran-backed Houthis later claimed responsibility for carrying out missile and drone strikes on what they described as Saudi military deployments in the two provinces.
According to the Houthis, ballistic missiles and drones targeted what they described as Saudi troop concentrations in the Al Ruwayk, Al Abr and Al Thaniyah areas. The group claimed the attacks left hundreds of Saudi-aligned fighters dead or injured and destroyed military camps, weapons depots and vehicles.
Reuters said it could not independently verify the Houthi claims.
The Houthis said the operation was launched after they detected what they described as a large Saudi military build-up ahead of a planned escalation against territories under their control.
US-Iran War Live: After call with Netanyahu, PM Modi says ‘We reviewed progress on various aspects of India-Israel Special Strategic Partnership’
“Received a phone call from Prime Minister Benjamin Netanyahu. We reviewed progress on various aspects of the India-Israel Special Strategic Partnership which continues to grow from strength-to-strength. We also exchanged views on the current situation in West Asia,” PM Modi said on X.
US-Iran War Live: Israel's Netanyahu dials Indian counterpart Modi, discusses developments in West Asia
Prime Minister Narendra Modi on Thursday received a telephone call from his Israeli counterpart Benjamin Netanyahu and they exchanged views on the recent developments in West Asia.
The two leaders also reviewed sustained progress in India-Israel Special Strategic Partnership and reaffirmed their commitment to further strengthening the bilateral cooperation across various sectors for the mutual benefit of the two countries, a statement issued by the Prime Minister's Office said.
"PM Netanyahu and PM Modi exchanged views on the recent developments in West Asia. The two leaders agreed to remain in touch," the statement said.
— PTI
US-Iran War Live: UN experts urge Iran to end 'targeting' of minorities
UN rights experts on Thursday urged Iran to end what they called the escalating arbitrary detention, enforced disappearance, torture and arbitrary executions of ethnic minorities.
The Kurdish and Baluch minorities are particularly affected, they said in a statement.
"Iran's ethnic minorities must be able to live in safety and dignity, free from discrimination," the experts said.
In late December, a protest movement initially sparked by the high cost of living rapidly evolved into widespread anti-government demonstrations.
The UN experts said that since the protests began, the Iranian authorities had reportedly detained thousands of individuals.
"Reports point to a significant increase in arbitrary arrests, and what appears to be politically motivated sentences, including against individuals from ethnic minorities, who are often arrested under broadly defined national security charges," the experts said.
– AFP
US-Iran War Live: Saudis cut key oil price again as Hormuz talks progress
Saudi Arabia cut its main crude oil price as some Persian Gulf producers continue to send barrels through the Strait of Hormuz, ahead of a highly-anticipated deal to further open the waterway.
State producer Saudi Aramco will reduce its Arab Light oil price for delivery to customers in Asia next month by 50 cents a barrel to $2 a barrel less than the regional benchmark, according to a price list from the company. It’s the fifth lowest price the kingdom has set since 2000.
The monthly Saudi crude price has long been a benchmark for regional producers, setting the tone for the cost of oil delivered from the Persian Gulf to global refiners. With the US-Iran war cutting the flow of barrels from the region, it’s been much harder for buyers and sellers to price that oil, particularly given soaring shipping costs as only a limited pool of vessel owners are willing to enter the Persian Gulf while missiles fly overhead.
Global benchmark Brent crude has slumped this week and is trading near $80 a barrel, a 20% drop in just the last two weeks, on expectations that flows through Hormuz may soon increase. Iran said an agreement with Oman on a proposed route for shipping through the critical waterway was in the final stages, a potential step toward reopening the channel for energy supplies.
– Bloomberg
US-Iran War Live: Oil gains as investors cautious over Iran-Oman talks
Oil prices rose on Thursday as investors remained cautious on the outcome of Iran-Oman talks and whether they will restore flows via the Strait of Hormuz, while reports of attacks on Saudi tankers in the Red Sea and Gulf of Aden renewed supply tensions.
Brent crude futures gained 83 cents, or 1.04%, to $80.28 a barrel by 1158 GMT. U.S. West Texas Intermediate futures added 61 cents, or 0.81%, to $75.83.
"Traders still remember the short-lived Memorandum of Understanding signed in June, so there is understandable anxiety that any new deal could prove equally fragile," said Tim Waterer, chief market analyst at KCM Trade.
Iran and Oman have reached an understanding on the geographic coordinates for a shipping route through the Strait of Hormuz, and a joint announcement is being finalised, provided certain third parties do not interfere, Iran's Foreign Ministry spokesperson Esmaeil Baghaei said on Wednesday.
— Reuters
US-Iran War Live: Iran-Oman talks near breakthrough on partial reopening of key waterway
Talks between Iran and Oman over a deal to partially reopen the Strait of Hormuz continued into Thursday, with Tehran saying discussions on proposed shipping routes had reached the final stages.
The two countries bordering the strategically important waterway have been negotiating a framework for managing maritime traffic through the strait since last month. In recent days, both Iran and the US have suggested that a breakthrough could be near.
“An understanding in principle has been reached on almost all the raised issues, including the map for maritime traffic entry and exit routes,” Iran’s Deputy Foreign Minister Kazem Gharibabadi said to the Islamic Republic News Agency on Wednesday. The arrangement may remain valid for “two to four months,” he added, as per Bloomberg.
US-Iran War Live: Bangladesh gas supplies improve after LNG terminal restarts
Gas supplies to Bangladesh’s national grid increased on Wednesday after a floating liquefied natural gas terminal operated by U.S.-based Excelerate Energy partially resumed operations after a fire shut the facility for more than two weeks.
The restart of one regasification unit is adding around 115 million cubic feet of gas a day to the national grid, easing shortages that disrupted power generation, industrial production and household supplies, Petrobangla officials said.
The floating storage and regasification unit (FSRU), anchored off Moheshkhali, was shut down after a July 21 fire damaged electrical cable systems linked to its boiler operations, cutting 450 million cubic feet of gas supply a day. Bangladesh was already facing a tighter LNG market after Qatar declared force majeure on some cargoes during the Iran conflict, prompting Dhaka to seek alternative supplies amid higher prices and Strait of Hormuz shipping risks.
The Petrobangla officials said the partial restart marked the first phase of restoring the terminal’s full capacity and that gas pressure should improve gradually.
Engineers from Excelerate Energy are continuing repair work while installing replacement equipment imported from overseas.
– Reuters
US-Iran War Live: Kuwait orders Iranian school shut, says report
Authorities in Kuwait ordered the closure of a local Iranian school, a source at the education ministry told AFP on Thursday, after the country came under repeated Iranian attack during the Middle East war.
The source did not give a reason for the closure of the country's only Iranian school, but Kuwait was one of several Gulf states hosting US forces to be targeted by Iran over the course of the war, most recently when a June ceasefire between the belligerents broke down.
"The Minister of Education issued a decision to revoke the educational license of the private Iranian school and close it down," said the text of the decision, which was seen by AFP.
New admissions were suspended for the coming academic year, with the ministry urging parents to transfer their children to other schools, the decision read.
– AFP
US-Iran War Live: Eight global shipping bodies urge UN and IMO to reject mandatory Strait of Hormuz tolls
Eight leading international shipping associations have called on the United Nations to oppose the introduction of mandatory tolls for vessels transiting the Strait of Hormuz.
The appeal was made in a joint letter addressed to UN Secretary-General Antonio Guterres and International Maritime Organisation (IMO) chief Arsenio Dominguez.
In the letter, the groups argued that compulsory or service charges “represent a significant departure from established international practice”, cautioning that such a move could establish a precedent for imposing similar fees in other key maritime routes. They also urged the UN and IMO to take steps to enhance the safety and security of seafarers.
The letter was sent on Monday and was made public on Wednesday by one of the signatories, the International Chamber of Shipping.
US-Iran War Live: ‘Still engaging with other countries regarding the Middle East crisis and Hormuz situation,’ says Pakistan
As per Al Jazeera, during weekly news briefing, Pakistan’s Foreign Ministry spokesperson Tahir Andrabi stated, “We are still engaging with other countries regarding the crisis in the Middle East and the situation in Hormuz."
“Our diplomatic efforts continue to work towards a comprehensive and sustainable solution regarding the Strait of Hormuz," he added.
US-Iran War Live: Iran says domestic fuel supply uninterrupted despite attacks on infrastructure
Iran’s Deputy Minister of Oil and the Managing Director of the National Iranian Oil Refining and Distribution Company, Mohammad-Sadegh Azimifar, has said that fuel production and distribution have continued without interruption despite damage to oil infrastructure in Tehran and Alborz provinces due to attacks by the US and Israel.
According to IRAN, Azimifar made the remarks during a visit by a parliamentary delegation from Tehran province to the Tehran Oil Refining Company and the Rey Energy Town on Wednesday.
He said that despite damage to oil infrastructure, including pipelines and storage tanks, in Tehran and Alborz provinces, the production and distribution of fuel, particularly gasoline, have continued uninterrupted.
Azimifar also noted that reconstruction work at the facilities is underway, with a strong emphasis on passive defense.
US-Iran War Live: Pakistan says it hopes Hormuz agreement will lead to resumption of Iran-US talks
Pakistan hopes an agreement over the Strait of Hormuz will lead to the United States and Iran resuming talks under a memorandum of understanding Islamabad helped mediate, the foreign office said Thursday.
"We hope that the agreement on the Strait will pave the way for continuing dialogue, particularly the resumption of technical level talks between Iran and the United States," foreign ministry spokesman Tahir Andrabi told reporters.