The latest news, analysis and opinion on the developing conflict in the Middle East.
How trading houses Vitol, Trafigura and Mercuria have managed to get some of their vessels out of the Gulf
Also in today’s newsletter, which countries are the US considering extending financial lifelines to?
Oil rises as Tehran and Washington battle for control of waterway
Higher energy prices stoked by conflict have resulted in higher borrowing costs for government
Retailers flag weak outlook as consumers rein in spending
Also in this newsletter: Paring back permitting
Deal brokered by Donald Trump to pause Israel’s offensive highlights Lebanon’s weakness
Conflict has hit fertiliser costs in an agricultural sector already reeling from Trump’s trade war
John Phelan ousted after clashing with defence secretary Pete Hegseth
Asian buyers seeking western crude push bids five times greater than pre-conflict levels
Oil rises back above $100 a barrel following incidents in waters close to Iran
Request to Fifa is pitched as effort to repair US ties with country even as Iran says it is ready to participate
Treasury secretary says ‘numerous’ countries sought support amid economic fallout from Iran war
Pause may put a lid on full-blown war without stopping hostilities or easing energy crisis
Households are buying up induction stoves and chaiwalas have closed as Iran conflict hits the country’s supply of LPG
Pakistan’s fatigue-wearing strongman Asim Munir takes unorthodox approach to mediating between two arch-enemies
Figure underlines economic impact of the Middle East conflict
President’s latest mixed signal comes as US sends more troops to region
Country is facing pressure from its neighbours to share increased energy earnings to support Ukraine
A third US carrier group and up to 10,000 elite troops expected in region by end of month
Europe and the US have fundamentally different world views when it comes to risk, force and international law
Iran’s ambassador to UN accuses Washington of ‘continuing internationally wrongful acts’
World ‘on borrowed time’ to avert crisis as higher gas prices squeeze fertiliser production
Company curbs full-year expectations despite record first-quarter sales as Iran war pushes up costs
Dozens of ships exiting the Gulf include several loaded with Iranian oil
