IRAN REGIONAL CONFLICT
Putin backs mediation efforts on Middle East war, tells Iran Moscow ready to help as US-Iran talks hit impasse
Russian President Vladimir Putin told his Iranian counterpart Masoud Pezeshkian in a phone call that Moscow was ready to help efforts to mediate the Middle East war, Iranian state media reported on Wednesday, with the months-long conflict locked in a stalemate. The Russian leader and Pezeshkian in their call spoke of the "positive and expanding trajectory of relations" between the two allies, stressing the need to further deepen ties, state news agency IRNA reported.
EIA raises oil price forecasts as Iran war tightens global markets
The EIA raised its oil price forecasts, citing tight global inventories, limited diesel supplies and ongoing Middle East supply risks. Brent crude is expected to average $105 per barrel in Q4 2026 and $84 in 2027. Recovering Gulf exports and record U.S. production may ease supply pressures next year, though geopolitical risks remain.
Oil Price Today (October 7): Crude oil rises to $101, up 45% in 3 months. Two reasons behind Wednesday’s surge
Brent futures gained 93 cents, or 0.92%, to $101.51, while US West Texas Intermediate (WTI) crude rose 90 cents, or 1.01%, to $90.30 a barrel.
US EIA lifts Brent forecast to $98 as Iran war tightens global supplies
The US Energy Information Administration has revised its oil price forecasts for the coming years due to supply issues. Global benchmark Brent crude is expected to average approximately $98 a barrel in 2026. Retail diesel prices are projected to remain high initially before gradually declining to around $4.50 in 2027. Improvements in Middle Eastern oil production are anticipated as transit routes become safer and more efficient.
Need to have multiple routes under IMEC: French Special envoy
Gérard Mestrallet emphasized the significance of developing diverse routes for the India-Middle East-Europe Economic Corridor, especially in light of the ongoing tensions in Iran, which have led to a reassessment of connectivity strategies. There is growing interest from Oman, Egypt, Lebanon, Greece, and Cyprus in contributing to the project’s expansion.
Qatar says US-Iran talks to end Middle East war continue via mediators, despite deadlock over Strait of Hormuz
Mediator Qatar confirmed that indirect negotiations between the United States and Iran continue amid a protracted conflict. Talks have resumed despite ongoing tensions and previous ceasefires not yielding lasting peace. Iranian President Masoud Pezeshkian expressed skepticism about the effectiveness of these discussions. As the war persists, both nations aim to address the strategic concerns surrounding the Strait of Hormuz.
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Oil Price Today (October 6): Crude oil below $101 as supply concerns ease but Houthi attack keeps traders on edge
Brent crude futures gained 20 cents to $100.54 a barrel, while US West Texas Intermediate crude futures rose 12 cents, or 0.13%, to $89.50 a barrel. Oil was little changed after Monday’s decline as traders continued to assess a modest reduction in supply-side concerns.
Oil prices slip as traders weigh strong Mideast exports against Gulf tensions
Oil prices slipped as a result of heightened crude exports from the Middle East, alongside a stockpile release by the G7. Brent crude futures decreased to $100.28 a barrel, while US West Texas Intermediate dropped to $89.33. The recent Houthi attacks on Saudi Arabia have raised concerns about potential regional supply disruptions, although analysts believe that the price floor remains strong under current market conditions.
US bombers redeployed to home bases after RAF Fairford terror attack probe
The U.S. Air Force has brought home its bombers stationed at RAF Fairford due to security concerns. An investigation into a potential terror attack has resulted in the arrest of several individuals. U.S. officials have indicated that additional military forces are being deployed to the Middle East. President Donald Trump has signaled continued military action against Iran may be considered. The situation remains fluid, with escalating tensions in the region.
Explainer: Who are the Houthis, Iran's allies in Yemen?
Yemen's Saudi-backed government has initiated a military counteroffensive against the Iran-backed Houthis, seeking to recover lost territory. The renewed warfare has increased tensions in the region, jeopardizing Red Sea shipping routes and disrupting energy exports. The Houthis have previously demonstrated their missile and drone capabilities, impacting global trade and regional stability. The conflict, which has caused significant humanitarian crises, has recently escalated after a period of relative peace.
Saudi Arabia plans assault on Houthis to break Red Sea chokehold
Saudi Arabia is preparing for an offensive against Houthi militants in Yemen, focusing on securing the Bab el-Mandeb Strait. The operation is expected to include coordinated attacks from multiple fronts alongside Yemeni ground forces. Over 100,000 Yemeni troops could potentially participate in the planned military action. U.S. intelligence support and military aid from other nations will assist the Saudi campaign in Yemen.
Trump weighs fresh Iran strikes as US sends 9,000 more troops to Middle East
The US military is deploying approximately 9,000 additional troops to the Middle East aboard ships for heightened tensions with Iran. President Donald Trump has hinted at potential escalating strikes after the upcoming elections. This military buildup includes three aircraft carriers, increasing US naval presence in the region significantly. Concerns are growing regarding Iran's possible shift towards unconventional tactics following recent attacks.
Trump says Iran was weeks away from nuclear weapon, defends US action
Iran is reportedly just weeks away from having a nuclear weapon, which concerns global leaders. US President Donald Trump highlighted the urgency of the situation, emphasizing that action is necessary. He stated that this situation could lead to broader conflict in the Middle East and beyond, particularly affecting Israel. Additionally, he mentioned that oil prices have remained stable despite earlier fears of significant increases.
Iran readies harder retaliation if attacked as diplomacy faces long odds
Iran is intensifying its military response planning amid fears of US military escalation in the region. Senior commanders are considering broader targets beyond US-linked assets in their strategic discussions. Diplomatically, Iran has proposed a plan through Qatari mediators to halt fighting and resume oil exports. Economic pressures and fears of unrest within Iran complicate the situation for the leadership.
The US military says its withdrawal of troops from Iraq is complete
The US military has finished withdrawing all troops from Iraq, marking the end of a 12-year mission. This withdrawal culminated in the handover of an air base in northern Iraq to local authorities. Iraqi Prime Minister Ali al-Zaidi described the event as the beginning of a new sovereign phase for Iraq. However, concerns arise regarding the future of Iranian-backed militias in the region.
As the last US troops exit Iraq, Kurdish fears rise and militias celebrate
The last US troops are scheduled to depart Iraq under a 2024 agreement between Baghdad and Washington. This withdrawal is celebrated by Iran-backed groups but raises concerns among others, particularly in the Kurdish region. The Kurdish government fears increased vulnerability after the removal of US air defense systems. Iran-aligned militias have celebrated the end of US military presence, claiming it signals full sovereignty for Iraq.
Rupee hits two-month low, breaches 96/USD mark as oil worries deepen
The Indian rupee has fallen to a two-month low, now at 96.1450 per dollar. Contributing factors include rising oil prices, which have heightened economic worries among investors. Brent crude oil has escalated by over 1.5%, hitting $107 per barrel amid disruptions in the Middle East. Furthermore, September saw foreign investors retreating with a $3.
Oil Price Today (September 29): Crude oil rises to $107 as US-Iran deal stalemate ups supply fears. $120 in sight?
Brent crude futures were up $1.65, or 1.57%, at $107 a barrel, while US West Texas Intermediate crude rose $1.29, or 1.40%, to $94 a barrel.
Oil prices rise for second session on continued Middle East supply concern
Oil prices have increased for a second consecutive session amid ongoing concerns regarding supply disruptions from the Middle East. Brent crude futures rose to $105.91 a barrel as traders reacted to the situation. Efforts to negotiate an end to the conflict between the US and Iran are ongoing. Meanwhile, the US is considering regulatory relief for diesel sales to help stabilize prices.
Mediators working to broker US-Iran deal even after Trump rejected latest Tehran proposal
Mediators are continuing indirect talks with Iran and the United States to broker a deal that would end fighting and reopen the Strait of Hormuz, despite President Donald Trump publicly rejecting Tehran’s latest proposal. Officials told AP that Washington has not formally rejected the draft, while mediators seek concessions from both sides.
The US-Iran war is now squeezing two major shipping routes from Strait of Hormuz to the Red Sea — here’s why global trade could feel the impact
The ongoing US-Iran war is affecting vital maritime chokepoints, specifically the Strait of Hormuz and Bab el-Mandeb Strait. Shipping traffic has decreased significantly through Hormuz due to conflict, impacting global energy markets. The situation at Bab el-Mandeb has worsened after Houthi forces seized strategic Perim Island. Discussions between the US and Iran continue with hopes for reopening Hormuz amid rising concerns.
Iran ready for ‘doomsday war’ with US, foreign minister says after Trump rejects ceasefire
Iranian Foreign Minister Seyyed Abbas Araghchi stated that the country is ready for war against the US. He confirmed that Iran's proposal for a ceasefire was not formally acknowledged by Washington. US Ambassador to the United Nations Mike Waltz emphasized the rejection of Iran's proposal for financial assets access. Trump dismissed Iran's terms regarding the Strait of Hormuz, indicating ongoing tensions.
US underwater drone seized in Strait of Hormuz, claim Iran's Revolutionary Guards
Iran's Revolutionary Guards have claimed to capture an American submarine drone, Remus 600 autonomous underwater vehicle, in Strait of Hormuz on Sunday. The drone was "operating in the Strait of Hormuz for espionage purposes", said the IRGC naval forces.
'Worry and sorrow': Middle East war opens old wounds in Kurdistan
Residents of Penjwen express deep concern over the ongoing Middle East conflict and its impact. They recall traumatic memories from the Iran-Iraq war and fear renewed violence might affect their lives. Many residents reflect on past destruction and emphasize the long-term impact on their hometown's infrastructure.
US Iran war: Tehran insists on diplomatic solution after Trump rejects peace plan
Iranian Foreign Minister Abbas Araqchi emphasized that diplomatic solutions are essential for resolving tensions with the US and Israel. US President Donald Trump rejected Iran's proposal for reopening the Strait of Hormuz, suggesting they are desperate for a deal. Despite this, Iranian officials remain hopeful that mediators will convey a definitive response from the US.
Russia accuses Europe of seeking to thwart Ukraine talks
Russia's Foreign Minister Sergei Lavrov accused Europe of obstructing peace negotiations related to the Ukraine conflict. He claimed that Moscow's military objectives would ultimately be achieved despite international opposition. German Foreign Minister Johann Wadephul called for Russia to de-escalate its aggressive actions against Germany and NATO. Both foreign ministers discussed recent tensions, including alleged Russian sabotage activities. Lavrov also expressed Russia's willingness to stabilize the Gulf region amidst ongoing conflicts.
'Unacceptable': Qatar PM says Strait of Hormuz situation 'very difficult, very challenging'
Qatar Prime Minister and Minister of Foreign Affairs Mohammed bin Abdulrahman bin Jassim Al-on Friday (local time) said that the situation in the Strait of Hormuz is "very difficult and challenging", while calling for an end to the "manipulation and blackmailing" of waterways.
Iran awaits US response on Strait of Hormuz plan after Trump reportedly rejects deal
Iran awaited a US response to its proposal to reopen the Strait of Hormuz and halt fighting across the Middle East, after the Wall Street Journal reported President Donald Trump rejected the plan. Tehran said the proposal could reopen the waterway within seven days and lead to broader talks, including on its nuclear programme.
Iran Foreign Minister Aragchi offers seven-day plan to end conflict, open Hormuz and restart peace talks
Iran's foreign minister Syed Abbas Araghchi has presented a seven-day plan to restore peace in West Asia. This proposal aims to reopen the Strait of Hormuz and initiate talks regarding Iran's nuclear program. Araghchi emphasized the necessity of ending US intervention for regional security and voiced concerns about aggression affecting negotiations. Iranian President Masoud Pezeshkian attributed the failure of earlier agreements to the US approach toward discussions.
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