Iran
Iran hits US targets in the region as Washington probes wedding strike
Oil prices again spiked this week after a few weeks of relative stability following the renewed fighting as Iran continues to maintain a stranglehold over the strategic Strait of Hormuz, responsible for roughly 20% of global oil shipping.
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Business
Qatar extends LNG cancellations as Hormuz disruption drags on
QatarEnergy’s latest cancellations run into early November. Buyers in Europe and Asia are finding replacement cargoes, switching to other fuels or using less gas, while no one knows when LNG shipping through the Strait of Hormuz will return to normal.
Iran
Iran takes aim at Jordan after US attacks an island in Hormuz
The US attacks on Iran are the first in around a month as the Trump administration had shifted its war objective to inflict maximum economic pain on Tehran. Washington says the strikes were aimed at preventing Iranian forces from disrupting global shipping through the Strait of Hormuz.
Qatar
Qatar PM visits Tehran to push for de-escalation and reopening Hormuz
Qatar is stepping up its mediation efforts as regional tensions remain high and direct US-Iran talks remain stalled, with Doha focused on de-escalation, dialogue and restoring freedom of navigation through the Strait of Hormuz.
Economy
US threatens Iran with 'economic D-Day' as markets await sanctions
US Treasury Secretary Scott Bessent has announced the launch of what he calls an 'economic D-Day' against Iran, describing the campaign as the single greatest financial offensive ever directed at an adversary, with further details due later on Monday.
United Arab Emirates
UAE halts all trade and financial dealings with Iran
Abu Dhabi announced the suspension after Iran fired two ballistic missiles toward the country on Tuesday. The move severs ties with what had been a major trading partner for sanctioned Iran, as crude flow through the Strait of Hormuz has fallen to less than a quarter of pre-war levels.
