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A Japanese-flagged oil tanker docked in Japan on May 17, becoming the first to transit the Strait of Hormuz since the Iran conflict began. The successful passage underscores efforts to maintain vital maritime routes despite heightened security risks.
Only 16% of Americans rate the economy positively as Gallup's confidence index sinks to -45, driven by surging gas prices and inflation linked to the Iran conflict. The poll shows 76% expect further deterioration, and a majority disapproves of President Trump's handling of the war.
The UK government has eased sanctions on imports of Russian crude oil refined in third countries such as India and Turkey, as fuel prices surge due to the Iran war and Strait of Hormuz closure. The indefinite trade license allows imports of Russian jet fuel and diesel, while a temporary license also relaxes restrictions on Russian liquefied natural gas. The move has drawn criticism from the opposition Conservative Party and the European Union.
Russian President Vladimir Putin arrived in Beijing just a day after US President Donald Trump departed, signaling Beijing’s deepening role as a central player in an increasingly fragmented world order. Analysts say the summit highlights China's growing diplomatic leverage and its positioning as a 'neutral superpower' amid global tensions over the US-Israel war on Iran and Russia's war in Ukraine. The visit underscores Moscow's reliance on Beijing as a strategic partner, with China holding significant sway in the relationship.
The Iran conflict has disrupted oil shipments, driving up fuel prices across Asia and prompting governments such as India's to accelerate adoption of ethanol and biofuels. The long-term shift toward alternative energy could reshape the region's energy mix, but immediate hardships for consumers persist.
President Donald Trump has warned Iran that 'time is running out' to reach a diplomatic solution, while Tehran says its military is fully prepared for any new aggression. Israel continues airstrikes on Lebanon, and the Gulf region remains on edge. Oil prices rose on stalled peace efforts.
U.S. President Donald Trump is seeking positive takeaways from a three-day trip to Beijing as his approval ratings fall and the Iran war grows increasingly unpopular. Analysts say concrete results from the visit remain unclear, though the White House points to progress on trade and security.
Iran says US President Donald Trump signaled readiness for new negotiations to end the war, while a stalemate over Tehran's nuclear program persists. Meanwhile, Lebanon and Israel agreed to extend the fragile ceasefire by 45 days. The developments come on day 78 of the Iran war, with ongoing violence in southern Lebanon and diplomatic maneuvers involving China and the UAE.
Escalating conflict in Iran has cut off liquefied natural gas (LNG) supplies to Pakistan, triggering a severe energy crisis. The South Asian nation has been forced to impose widespread rotational power cuts, threatening industrial output and daily life. Experts warn the crisis highlights Pakistan’s dangerous dependency on imported energy from a volatile region.
