US-Israel-Iran war Highlights: Gulf leaders hold first summit in Saudi Arabia since start of conflict

Mohammad Hossein Ziyaeenia, the Deputy Representative of Iran's Supreme Leader in India, has said that every country can play a role in facilitating an end to hostilies in West Asia.
During an interview with ANI, Ziyaeenia framed the current West Asian crisis as a struggle between "oppression" and "self-defence," questioning the global community's priorities in the face of rising human costs.

Responding to a question on the role of major powers, Ziyaeenia said, "In this conflict, every country can play a role. Every country can play a role, positive or negative."

Ziyaeenia stated that countries allowing US bases on their soil are playing a "negative role," arguing that such cooperation is ultimately detrimental to their own interests.

Gasoline prices in the United States climbed to a four-year high on Tuesday, as ongoing tensions linked to the Iran war showed little sign of easing.

According to data from American Automobile Association, the national average price of a gallon of fuel rose to about $4.17, up $1.19 since the conflict began on February 28. That represents an increase of roughly 28% in just two months, reflecting the sharp impact of the war on global oil markets.

Oil prices jumped on Tuesday, climbing back above $110 per barrel, amid a lack of progress in re-opening the key Strait of Hormuz.

Meanwhile, tech stocks took a hit and investors turned their attention to corporate earnings and the outlook for interest rates.

Efforts to end the Middle East war appeared at a standstill on Tuesday, with the United States considering Tehran's latest offer to unblock the strait, and Iran saying Washington could no longer dictate terms.

Iraq has no plans of leaving OPEC or OPEC+, and favours a strong organisation to ensure stable and acceptable oil prices, two Iraqi oil officials said following the UAE’s decision on Tuesday to exit the group.

Lebanon’s Health Ministry has raised the death toll from the Israel-Hezbollah war to 2,534. It said 7,863 people have been injured since the conflict began on March 2. The ongoing war has displaced over 1 million residents and caused widespread destruction estimated in billions of dollars.

The US Federal Reserve opened its two-day meeting on Tuesday with policymakers expected to keep interest rates steady, as the war on Iran's effects on energy prices and supply chains ripple through the world's largest economy.

The central bank's rate-setting Federal Open Market Committee (FOMC) began its gathering at 10:00 am Eastern time (14:00 GMT), a spokesperson said.

Fed officials are set to keep rates steady at a range between 3.50 percent and 3.75 percent, extending their pause on rate cuts since the start of the year. Their decision will be announced on Wednesday.

After being a key member of the world's largest energy body for five decades, the United Arab Emirates announced on Tuesday (April 28) that it will withdraw from the OPEC and OPEC+ oil cartels on May 1. State media called it a strategic decision by the major producer.

Iran’s customs authority has issued a directive banning exports of a range of steel products, Iranian media reported on Tuesday (April 28), signalling tighter controls on key industrial goods.

Qatar Foreign Ministry spokesperson Majed al-Ansari said that the issue right now is not with the mediator, and Pakistan is doing a great job in its mediation. “We are, as I said, supportive of this and has always been in coordination with all its partners regionally and beyond over that issue. We remain in full solidarity with Pakistan in their goal as mediator. Our position has been clear from day 1. Any conflict in the region should be solved on the negotiation table. And we believed in the negotiation process and we were supportive of the negotiation process and we will remain supportive of a diplomatic resolution," he said.

Qatar spokesperson said Doha supports a “comprehensive deal” to resolve the conflict, responding to reports that Iran may want to separate discussions on the Strait of Hormuz from its nuclear programme during a weekly briefing. Majed al-Ansari emphasised that Doha’s primary focus remains regional security, noting that Iran’s recent actions have raised serious concerns about stability in the region.

Israel's intelligence and special operations organisation, Mossad, has lauded the "groundbreaking" efforts after launching operations in Iran and Hezbollah. According to Al Jazeera, Mossad chief David Barnea stated that the Israeli spy agency has acquired “strategic and tactical intelligence from the heart of the enemy’s secrets." ”In the campaigns against Iran and Hezbollah, we worked shoulder-to-shoulder with the IDF, on both defence and offence,” David Barnea said about the Israeli military.

The head of Israel's Mossad has claimed that it acquired “groundbreaking” secrets from in its operation in Iran and against Hezbollah. "We acquired strategic and tactical intelligence from the heart of the enemy's secrets," Barnea said, adding that Mossad had “proved new, groundbreaking operational capabilities in target countries.” His remarks were delivered during a commendation ceremony at Mossad headquarters on Monday and published on Tuesday.

UK oil giant British Petroleum's profit doubled over the first three months of the US war on Iran. The UK energy giant reported a first-quarter profit of £3.2 billion ($4.3 billion), up from £1.4 billion ($1.9 billion) in the first three months of 2025. BP was hit by a shareholder rebellion last week, a direct challenge to the company's new leadership and its aggressive pivot back to fossil fuels. The company gave credit to an “exceptional” contribution from its oil trading operations due to the closure of the Strait of Hormuz and damage to the oil infrastructure in the Gulf.

Israeli airstrikes have targeted locations in the North of the Litani River in Southern Lebanon. The attacks caused a massive wave of displacement in the neighbouring villages and a traffic snarl in Nabatieh, Sidon and the capital Beirut.

An Israeli airstrike killed a nine-year-old child in the east of Khan Younis, southern Gaza, the Palestinian Wafa news agency reported. The Palestinian Health Ministry on Tuesday said that Hospitals across Gaza received one body and five injured people over the span of the last 24 hours. The death toll in Gaza since the start of the so-called "ceasefire" has reached at least 818, and 2301others were injured in Israeli attacks. The total death toll of the Israeli geocidal war in Gaza is at least 72,594, and 172,404 wounded since October 7, 2023.

Russia’s ambassador to the United Nations, Vassily Nebenzia, has officially backed Iran's control over the operation of the Strait of Hormuz. Vassily compared the Western nations to pirates and called out European nations supporting the attack on Russian trade vessels and Black Sea.  “There was an attempt to pin full responsibility on Iran as if it was Iran which attacked its neighbours. In times of war, a coastal state that is under attack may limit navigation in its territorial waters for the purpose of security,” said Vassily.

Iran defence ministry spokesman Reza Talaei-Nik said that the United States was no longer able to "dictate" what other countries do. "The United States is no longer in a position to dictate its policy to independent nations," , according to state TV, adding Washington would "accept that it must abandon its illegal and irrational demands".

 CNN reported that US President Donald Trump is inclined to reject the most recent proposal from Tehran aimed at resolving the ongoing conflict.

An Israeli airstrike targeted Jabal al-Batoum town in southern Lebanon, while a drone strike hit the town of Majdal Zoun, according to a report on Al Jazeera

Iran’s deputy defence minister Talaei-Nik says Tehran is ready to share its defensive weapons capabilities with members of the Shanghai Cooperation Organisation, according to state media.

“Maritime security threats now reach every coastline and every nation — even those without direct access to the sea. In an increasingly divided global landscape, trust is eroding, international law is being openly challenged, and the very foundations of collective security are under strain,” said António Guterres

Thailand's economic growth and tourist arrivals are forecast to drop this year as the Middle East war roils global energy prices, the finance ministry said Tuesday.

The country's GDP growth is projected to dip to 1.6 per cent, the ministry said in a statement, down from 2.4 per cent in 2025.

The government said in February that this year's growth forecast was between 1.5 to 2.5 per cent.

Thailand expects about 33.5 million foreign tourists this year, about two million fewer than previously estimated, the ministry said on Tuesday.

British energy giant BP on Tuesday reported a sharp rise in net profit for the first quarter as crude oil prices soared over the Middle East war.

Profit after tax jumped to $3.8 billion for the January-March period, compared with $687 million in the first quarter of 2025, BP said in an earnings statement.

US Secretary of State Marco Rubio has observed that the latest diplomatic submission from Tehran "is better than what we thought they were going to submit," though he maintained that any prospective agreement must resolutely prevent the Islamic Republic from acquiring a nuclear weapon.

Iranian Foreign Minister Abbas Araghchi arrived in Pakistan on Tuesday, marking his third visit to the country in the past 48 hours following high-level discussions with President Vladimir Putin and Foreign Minister Sergey Lavrov in St Petersburg. The visit highlights the deepening strategic cooperation between Tehran and Moscow as the region navigates what Araghchi described as a "major flux."
In a statement shared via social media, Araghchi expressed satisfaction over his engagement with the Russian leadership, noting that he was pleased to consult with the Kremlin at the "highest level" during this critical period. The diplomat emphasised that "recent events have evidenced the depth and strength of our strategic partnership," further noting that both nations remain committed to a unified front against international pressure.

The share markets in the country opened on a cautious note on Tuesday, with benchmark indices witnessing marginal declines amid continued foreign institutional investor (FII) selling, elevated crude oil prices, and ongoing geopolitical uncertainty in West Asia.
The Nifty 50 index opened at 24,049.90, declining by 42.80 points or 0.18 per cent, while the BSE Sensex started the session at 77,094.79, down by 208.84 points or 0.27 per cent.

The US Central Command (CENTCOM) has announced that the guided-missile destroyer USS Rafael Peralta intercepted the M/T Stream on Sunday, preventing the vessel from reaching its intended destination.
The American warship stopped the tanker "after it attempted to sail to an Iranian port," according to a statement released by CENTCOM.

Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights.

The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines aren't waiting for a lack of supplies to react.

Low-cost carriers -- which control a little more than a third of the global market, according to various estimates -- are feeling the pinch first due to the nature of their business model. With cheaper tickets, they have less capacity to absorb the rise in fuel costs.

US Secretary of State Marco Rubio said Iran has used the Strait of Hormuz as an "economic nuclear weapon" against the world, ruling out any deal that excludes Tehran's nuclear program.

The White House said on Monday that it was examining Iran's latest proposal to unblock the Strait of Hormuz, two months after a US and Israeli offensive sent shockwaves through the global economy.

Peace talks between the United States and Iran to end the Middle East war and fully reopen the vital strait have so far proven inconclusive since a ceasefire came into force.

Trump met with top security advisors on Monday to discuss an Iranian proposal after Tehran passed "written messages" to Washington via Pakistan, spelling out its red lines in negotiations, including on nuclear issues and the Strait of Hormuz, the Fars news agency reported.

Australian Foreign Minister Penny Wong said Tuesday the war in the Middle East has had a "disproportionate impact" on the Asia-Pacific region, as she vowed to work closely with Japan to "navigate global disruption".

Wong spoke during a visit to Tokyo, which comes just days before Prime Minister Sanae Takaichi is due to travel to Australia and Vietnam.

Takaichi's trip from May 1-5 is part of efforts to boost economic security and ensure the stable supply of energy as well as critical minerals, top government spokesman Minoru Kihara said Tuesday.

Japan's central bank on Tuesday kept its main interest rate unchanged but hiked its inflation forecasts and cut its growth projections after the Iran war sent oil prices soaring.

The Bank of Japan (BoJ) kept its main policy rate at 0.75 percent, but said it expects inflation this fiscal year of 2.8 percent, up from its previous projection of 1.9 percent.

"Comparing the projections... with those presented in the previous Outlook Report, the projected year-on-year rate of increase in the CPI (all items less fresh food) for fiscal 2026 is significantly higher and that for fiscal 2027 is also somewhat higher, reflecting the effects of the rise in crude oil prices," the BoJ said.

Iran's top diplomat blamed Washington Monday for the failure of Middle East peace talks during a visit to Russia, where President Vladimir Putin promised him Moscow's support in ending the war.

Iranian Foreign Minister Abbas Araghchi was in Saint Petersburg on a whirlwind diplomatic tour, having sandwiched a trip to Oman in between two visits to Pakistan, the main mediator in the Mideast war.

Islamabad hosted a first, unsuccessful round of US-Iran talks, and Araghchi's visit raised hopes for more negotiations over the weekend -- until US President Donald Trump scrapped a planned trip by his envoys Steve Witkoff and Jared Kushner.

France said Monday that Iran must be ready to make "major concessions" to end a crisis, as countries piled pressure on Tehran at a UN session on its control of the key Strait of Hormuz.

"There can be no lasting solution to this crisis unless the Iranian regime agrees to major concessions and a radical shift in its stance," Foreign Minister Jean-Noel Barrot told the UN Security Council.

Barrot said that Iran must show a way "to peaceful coexistence within its region and for the Iranian people to be able to build freely their own future," months after the cleric-run state ruthlessly repressed mass protests.

Iran needs guarantees against another US-Israeli attack before it can ensure security in the oil-rich Gulf, Tehran's envoy to the United Nations said Monday.

The ambassador, Amir Saeid Iravani, addressed a Security Council session initiated by Bahrain, in which dozens of countries condemned Iran for exerting control over the crucial Strait of Hormuz.

"Lasting stability and security in the Persian Gulf and the wider region can only be achieved through a durable and permanent cessation of aggression against Iran supplemented by credible guarantees of non-recurrence and full respect for the legitimate sovereign rights and interests of Iran," Iravani told the session.

Lebanon's health ministry said Israeli strikes on the country's south on Monday killed four people including a woman and wounded 51 others, three of them children, despite a ceasefire between Israel and Hezbollah.

According to an AFP tally of health ministry figures, Israeli strikes have killed at least 40 people in Lebanon since the fragile truce there began on April 17.

Oil prices rose and stock markets moved unevenly on Monday as the prospect of Iran peace talks remained stalled, ahead of a week full of central bank decisions and corporate earnings.

Iranian Foreign Minister Abbas Araghchi's visit to Islamabad had fanned hopes for new negotiations with Washington at the weekend but US President Donald Trump scrapped a planned trip by envoys on Saturday.

Both main international oil contracts pushed higher, with Brent crude rising to more than $108 a barrel as the crucial Strait of Hormuz waterway remained largely closed, although lingering hopes that a deal could eventually be reached tempered gains.

Stock markets were mixed, with both the S&P 500 and Nasdaq edging higher to finish at all-time records. But the Dow retreated, along with several leading European and Asian indices.

Mohammad Hossein Ziyaeenia, the Deputy Representative of Iran's Supreme Leader in India, has said that every country can play a role in facilitating an end to hostilies in West Asia.
During an interview with ANI, Ziyaeenia framed the current West Asian crisis as a struggle between "oppression" and "self-defence," questioning the global community's priorities in the face of rising human costs.

Responding to a question on the role of major powers, Ziyaeenia said, "In this conflict, every country can play a role. Every country can play a role, positive or negative."

Ziyaeenia stated that countries allowing US bases on their soil are playing a "negative role," arguing that such cooperation is ultimately detrimental to their own interests.

Gasoline prices in the United States climbed to a four-year high on Tuesday, as ongoing tensions linked to the Iran war showed little sign of easing.

According to data from American Automobile Association, the national average price of a gallon of fuel rose to about $4.17, up $1.19 since the conflict began on February 28. That represents an increase of roughly 28% in just two months, reflecting the sharp impact of the war on global oil markets.

Oil prices jumped on Tuesday, climbing back above $110 per barrel, amid a lack of progress in re-opening the key Strait of Hormuz.

Meanwhile, tech stocks took a hit and investors turned their attention to corporate earnings and the outlook for interest rates.

Efforts to end the Middle East war appeared at a standstill on Tuesday, with the United States considering Tehran's latest offer to unblock the strait, and Iran saying Washington could no longer dictate terms.

Iraq has no plans of leaving OPEC or OPEC+, and favours a strong organisation to ensure stable and acceptable oil prices, two Iraqi oil officials said following the UAE’s decision on Tuesday to exit the group.

Lebanon’s Health Ministry has raised the death toll from the Israel-Hezbollah war to 2,534. It said 7,863 people have been injured since the conflict began on March 2. The ongoing war has displaced over 1 million residents and caused widespread destruction estimated in billions of dollars.

The US Federal Reserve opened its two-day meeting on Tuesday with policymakers expected to keep interest rates steady, as the war on Iran's effects on energy prices and supply chains ripple through the world's largest economy.

The central bank's rate-setting Federal Open Market Committee (FOMC) began its gathering at 10:00 am Eastern time (14:00 GMT), a spokesperson said.

Fed officials are set to keep rates steady at a range between 3.50 percent and 3.75 percent, extending their pause on rate cuts since the start of the year. Their decision will be announced on Wednesday.

After being a key member of the world's largest energy body for five decades, the United Arab Emirates announced on Tuesday (April 28) that it will withdraw from the OPEC and OPEC+ oil cartels on May 1. State media called it a strategic decision by the major producer.

Iran’s customs authority has issued a directive banning exports of a range of steel products, Iranian media reported on Tuesday (April 28), signalling tighter controls on key industrial goods.

Qatar Foreign Ministry spokesperson Majed al-Ansari said that the issue right now is not with the mediator, and Pakistan is doing a great job in its mediation. “We are, as I said, supportive of this and has always been in coordination with all its partners regionally and beyond over that issue. We remain in full solidarity with Pakistan in their goal as mediator. Our position has been clear from day 1. Any conflict in the region should be solved on the negotiation table. And we believed in the negotiation process and we were supportive of the negotiation process and we will remain supportive of a diplomatic resolution," he said.

Qatar spokesperson said Doha supports a “comprehensive deal” to resolve the conflict, responding to reports that Iran may want to separate discussions on the Strait of Hormuz from its nuclear programme during a weekly briefing. Majed al-Ansari emphasised that Doha’s primary focus remains regional security, noting that Iran’s recent actions have raised serious concerns about stability in the region.

Israel's intelligence and special operations organisation, Mossad, has lauded the "groundbreaking" efforts after launching operations in Iran and Hezbollah. According to Al Jazeera, Mossad chief David Barnea stated that the Israeli spy agency has acquired “strategic and tactical intelligence from the heart of the enemy’s secrets." ”In the campaigns against Iran and Hezbollah, we worked shoulder-to-shoulder with the IDF, on both defence and offence,” David Barnea said about the Israeli military.

The head of Israel's Mossad has claimed that it acquired “groundbreaking” secrets from in its operation in Iran and against Hezbollah. "We acquired strategic and tactical intelligence from the heart of the enemy's secrets," Barnea said, adding that Mossad had “proved new, groundbreaking operational capabilities in target countries.” His remarks were delivered during a commendation ceremony at Mossad headquarters on Monday and published on Tuesday.

UK oil giant British Petroleum's profit doubled over the first three months of the US war on Iran. The UK energy giant reported a first-quarter profit of £3.2 billion ($4.3 billion), up from £1.4 billion ($1.9 billion) in the first three months of 2025. BP was hit by a shareholder rebellion last week, a direct challenge to the company's new leadership and its aggressive pivot back to fossil fuels. The company gave credit to an “exceptional” contribution from its oil trading operations due to the closure of the Strait of Hormuz and damage to the oil infrastructure in the Gulf.

Israeli airstrikes have targeted locations in the North of the Litani River in Southern Lebanon. The attacks caused a massive wave of displacement in the neighbouring villages and a traffic snarl in Nabatieh, Sidon and the capital Beirut.

An Israeli airstrike killed a nine-year-old child in the east of Khan Younis, southern Gaza, the Palestinian Wafa news agency reported. The Palestinian Health Ministry on Tuesday said that Hospitals across Gaza received one body and five injured people over the span of the last 24 hours. The death toll in Gaza since the start of the so-called "ceasefire" has reached at least 818, and 2301others were injured in Israeli attacks. The total death toll of the Israeli geocidal war in Gaza is at least 72,594, and 172,404 wounded since October 7, 2023.

Russia’s ambassador to the United Nations, Vassily Nebenzia, has officially backed Iran's control over the operation of the Strait of Hormuz. Vassily compared the Western nations to pirates and called out European nations supporting the attack on Russian trade vessels and Black Sea.  “There was an attempt to pin full responsibility on Iran as if it was Iran which attacked its neighbours. In times of war, a coastal state that is under attack may limit navigation in its territorial waters for the purpose of security,” said Vassily.

Iran defence ministry spokesman Reza Talaei-Nik said that the United States was no longer able to "dictate" what other countries do. "The United States is no longer in a position to dictate its policy to independent nations," , according to state TV, adding Washington would "accept that it must abandon its illegal and irrational demands".

 CNN reported that US President Donald Trump is inclined to reject the most recent proposal from Tehran aimed at resolving the ongoing conflict.

An Israeli airstrike targeted Jabal al-Batoum town in southern Lebanon, while a drone strike hit the town of Majdal Zoun, according to a report on Al Jazeera

Iran’s deputy defence minister Talaei-Nik says Tehran is ready to share its defensive weapons capabilities with members of the Shanghai Cooperation Organisation, according to state media.

“Maritime security threats now reach every coastline and every nation — even those without direct access to the sea. In an increasingly divided global landscape, trust is eroding, international law is being openly challenged, and the very foundations of collective security are under strain,” said António Guterres

Thailand's economic growth and tourist arrivals are forecast to drop this year as the Middle East war roils global energy prices, the finance ministry said Tuesday.

The country's GDP growth is projected to dip to 1.6 per cent, the ministry said in a statement, down from 2.4 per cent in 2025.

The government said in February that this year's growth forecast was between 1.5 to 2.5 per cent.

Thailand expects about 33.5 million foreign tourists this year, about two million fewer than previously estimated, the ministry said on Tuesday.

British energy giant BP on Tuesday reported a sharp rise in net profit for the first quarter as crude oil prices soared over the Middle East war.

Profit after tax jumped to $3.8 billion for the January-March period, compared with $687 million in the first quarter of 2025, BP said in an earnings statement.

US Secretary of State Marco Rubio has observed that the latest diplomatic submission from Tehran "is better than what we thought they were going to submit," though he maintained that any prospective agreement must resolutely prevent the Islamic Republic from acquiring a nuclear weapon.

Iranian Foreign Minister Abbas Araghchi arrived in Pakistan on Tuesday, marking his third visit to the country in the past 48 hours following high-level discussions with President Vladimir Putin and Foreign Minister Sergey Lavrov in St Petersburg. The visit highlights the deepening strategic cooperation between Tehran and Moscow as the region navigates what Araghchi described as a "major flux."
In a statement shared via social media, Araghchi expressed satisfaction over his engagement with the Russian leadership, noting that he was pleased to consult with the Kremlin at the "highest level" during this critical period. The diplomat emphasised that "recent events have evidenced the depth and strength of our strategic partnership," further noting that both nations remain committed to a unified front against international pressure.

The share markets in the country opened on a cautious note on Tuesday, with benchmark indices witnessing marginal declines amid continued foreign institutional investor (FII) selling, elevated crude oil prices, and ongoing geopolitical uncertainty in West Asia.
The Nifty 50 index opened at 24,049.90, declining by 42.80 points or 0.18 per cent, while the BSE Sensex started the session at 77,094.79, down by 208.84 points or 0.27 per cent.

The US Central Command (CENTCOM) has announced that the guided-missile destroyer USS Rafael Peralta intercepted the M/T Stream on Sunday, preventing the vessel from reaching its intended destination.
The American warship stopped the tanker "after it attempted to sail to an Iranian port," according to a statement released by CENTCOM.

Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights.

The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines aren't waiting for a lack of supplies to react.

Low-cost carriers -- which control a little more than a third of the global market, according to various estimates -- are feeling the pinch first due to the nature of their business model. With cheaper tickets, they have less capacity to absorb the rise in fuel costs.

US Secretary of State Marco Rubio said Iran has used the Strait of Hormuz as an "economic nuclear weapon" against the world, ruling out any deal that excludes Tehran's nuclear program.

The White House said on Monday that it was examining Iran's latest proposal to unblock the Strait of Hormuz, two months after a US and Israeli offensive sent shockwaves through the global economy.

Peace talks between the United States and Iran to end the Middle East war and fully reopen the vital strait have so far proven inconclusive since a ceasefire came into force.

Trump met with top security advisors on Monday to discuss an Iranian proposal after Tehran passed "written messages" to Washington via Pakistan, spelling out its red lines in negotiations, including on nuclear issues and the Strait of Hormuz, the Fars news agency reported.

Australian Foreign Minister Penny Wong said Tuesday the war in the Middle East has had a "disproportionate impact" on the Asia-Pacific region, as she vowed to work closely with Japan to "navigate global disruption".

Wong spoke during a visit to Tokyo, which comes just days before Prime Minister Sanae Takaichi is due to travel to Australia and Vietnam.

Takaichi's trip from May 1-5 is part of efforts to boost economic security and ensure the stable supply of energy as well as critical minerals, top government spokesman Minoru Kihara said Tuesday.

Japan's central bank on Tuesday kept its main interest rate unchanged but hiked its inflation forecasts and cut its growth projections after the Iran war sent oil prices soaring.

The Bank of Japan (BoJ) kept its main policy rate at 0.75 percent, but said it expects inflation this fiscal year of 2.8 percent, up from its previous projection of 1.9 percent.

"Comparing the projections... with those presented in the previous Outlook Report, the projected year-on-year rate of increase in the CPI (all items less fresh food) for fiscal 2026 is significantly higher and that for fiscal 2027 is also somewhat higher, reflecting the effects of the rise in crude oil prices," the BoJ said.

Iran's top diplomat blamed Washington Monday for the failure of Middle East peace talks during a visit to Russia, where President Vladimir Putin promised him Moscow's support in ending the war.

Iranian Foreign Minister Abbas Araghchi was in Saint Petersburg on a whirlwind diplomatic tour, having sandwiched a trip to Oman in between two visits to Pakistan, the main mediator in the Mideast war.

Islamabad hosted a first, unsuccessful round of US-Iran talks, and Araghchi's visit raised hopes for more negotiations over the weekend -- until US President Donald Trump scrapped a planned trip by his envoys Steve Witkoff and Jared Kushner.

France said Monday that Iran must be ready to make "major concessions" to end a crisis, as countries piled pressure on Tehran at a UN session on its control of the key Strait of Hormuz.

"There can be no lasting solution to this crisis unless the Iranian regime agrees to major concessions and a radical shift in its stance," Foreign Minister Jean-Noel Barrot told the UN Security Council.

Barrot said that Iran must show a way "to peaceful coexistence within its region and for the Iranian people to be able to build freely their own future," months after the cleric-run state ruthlessly repressed mass protests.

Iran needs guarantees against another US-Israeli attack before it can ensure security in the oil-rich Gulf, Tehran's envoy to the United Nations said Monday.

The ambassador, Amir Saeid Iravani, addressed a Security Council session initiated by Bahrain, in which dozens of countries condemned Iran for exerting control over the crucial Strait of Hormuz.

"Lasting stability and security in the Persian Gulf and the wider region can only be achieved through a durable and permanent cessation of aggression against Iran supplemented by credible guarantees of non-recurrence and full respect for the legitimate sovereign rights and interests of Iran," Iravani told the session.

Lebanon's health ministry said Israeli strikes on the country's south on Monday killed four people including a woman and wounded 51 others, three of them children, despite a ceasefire between Israel and Hezbollah.

According to an AFP tally of health ministry figures, Israeli strikes have killed at least 40 people in Lebanon since the fragile truce there began on April 17.

Oil prices rose and stock markets moved unevenly on Monday as the prospect of Iran peace talks remained stalled, ahead of a week full of central bank decisions and corporate earnings.

Iranian Foreign Minister Abbas Araghchi's visit to Islamabad had fanned hopes for new negotiations with Washington at the weekend but US President Donald Trump scrapped a planned trip by envoys on Saturday.

Both main international oil contracts pushed higher, with Brent crude rising to more than $108 a barrel as the crucial Strait of Hormuz waterway remained largely closed, although lingering hopes that a deal could eventually be reached tempered gains.

Stock markets were mixed, with both the S&P 500 and Nasdaq edging higher to finish at all-time records. But the Dow retreated, along with several leading European and Asian indices.

Mohammad Hossein Ziyaeenia, the Deputy Representative of Iran's Supreme Leader in India, has said that every country can play a role in facilitating an end to hostilies in West Asia.
During an interview with ANI, Ziyaeenia framed the current West Asian crisis as a struggle between "oppression" and "self-defence," questioning the global community's priorities in the face of rising human costs.

Responding to a question on the role of major powers, Ziyaeenia said, "In this conflict, every country can play a role. Every country can play a role, positive or negative."

Ziyaeenia stated that countries allowing US bases on their soil are playing a "negative role," arguing that such cooperation is ultimately detrimental to their own interests.

Gasoline prices in the United States climbed to a four-year high on Tuesday, as ongoing tensions linked to the Iran war showed little sign of easing.

According to data from American Automobile Association, the national average price of a gallon of fuel rose to about $4.17, up $1.19 since the conflict began on February 28. That represents an increase of roughly 28% in just two months, reflecting the sharp impact of the war on global oil markets.

Oil prices jumped on Tuesday, climbing back above $110 per barrel, amid a lack of progress in re-opening the key Strait of Hormuz.

Meanwhile, tech stocks took a hit and investors turned their attention to corporate earnings and the outlook for interest rates.

Efforts to end the Middle East war appeared at a standstill on Tuesday, with the United States considering Tehran's latest offer to unblock the strait, and Iran saying Washington could no longer dictate terms.

Iraq has no plans of leaving OPEC or OPEC+, and favours a strong organisation to ensure stable and acceptable oil prices, two Iraqi oil officials said following the UAE’s decision on Tuesday to exit the group.

Lebanon’s Health Ministry has raised the death toll from the Israel-Hezbollah war to 2,534. It said 7,863 people have been injured since the conflict began on March 2. The ongoing war has displaced over 1 million residents and caused widespread destruction estimated in billions of dollars.

The US Federal Reserve opened its two-day meeting on Tuesday with policymakers expected to keep interest rates steady, as the war on Iran's effects on energy prices and supply chains ripple through the world's largest economy.

The central bank's rate-setting Federal Open Market Committee (FOMC) began its gathering at 10:00 am Eastern time (14:00 GMT), a spokesperson said.

Fed officials are set to keep rates steady at a range between 3.50 percent and 3.75 percent, extending their pause on rate cuts since the start of the year. Their decision will be announced on Wednesday.

After being a key member of the world's largest energy body for five decades, the United Arab Emirates announced on Tuesday (April 28) that it will withdraw from the OPEC and OPEC+ oil cartels on May 1. State media called it a strategic decision by the major producer.

Iran’s customs authority has issued a directive banning exports of a range of steel products, Iranian media reported on Tuesday (April 28), signalling tighter controls on key industrial goods.

Qatar Foreign Ministry spokesperson Majed al-Ansari said that the issue right now is not with the mediator, and Pakistan is doing a great job in its mediation. “We are, as I said, supportive of this and has always been in coordination with all its partners regionally and beyond over that issue. We remain in full solidarity with Pakistan in their goal as mediator. Our position has been clear from day 1. Any conflict in the region should be solved on the negotiation table. And we believed in the negotiation process and we were supportive of the negotiation process and we will remain supportive of a diplomatic resolution," he said.

Qatar spokesperson said Doha supports a “comprehensive deal” to resolve the conflict, responding to reports that Iran may want to separate discussions on the Strait of Hormuz from its nuclear programme during a weekly briefing. Majed al-Ansari emphasised that Doha’s primary focus remains regional security, noting that Iran’s recent actions have raised serious concerns about stability in the region.

Israel's intelligence and special operations organisation, Mossad, has lauded the "groundbreaking" efforts after launching operations in Iran and Hezbollah. According to Al Jazeera, Mossad chief David Barnea stated that the Israeli spy agency has acquired “strategic and tactical intelligence from the heart of the enemy’s secrets." ”In the campaigns against Iran and Hezbollah, we worked shoulder-to-shoulder with the IDF, on both defence and offence,” David Barnea said about the Israeli military.

The head of Israel's Mossad has claimed that it acquired “groundbreaking” secrets from in its operation in Iran and against Hezbollah. "We acquired strategic and tactical intelligence from the heart of the enemy's secrets," Barnea said, adding that Mossad had “proved new, groundbreaking operational capabilities in target countries.” His remarks were delivered during a commendation ceremony at Mossad headquarters on Monday and published on Tuesday.

UK oil giant British Petroleum's profit doubled over the first three months of the US war on Iran. The UK energy giant reported a first-quarter profit of £3.2 billion ($4.3 billion), up from £1.4 billion ($1.9 billion) in the first three months of 2025. BP was hit by a shareholder rebellion last week, a direct challenge to the company's new leadership and its aggressive pivot back to fossil fuels. The company gave credit to an “exceptional” contribution from its oil trading operations due to the closure of the Strait of Hormuz and damage to the oil infrastructure in the Gulf.

Israeli airstrikes have targeted locations in the North of the Litani River in Southern Lebanon. The attacks caused a massive wave of displacement in the neighbouring villages and a traffic snarl in Nabatieh, Sidon and the capital Beirut.

An Israeli airstrike killed a nine-year-old child in the east of Khan Younis, southern Gaza, the Palestinian Wafa news agency reported. The Palestinian Health Ministry on Tuesday said that Hospitals across Gaza received one body and five injured people over the span of the last 24 hours. The death toll in Gaza since the start of the so-called "ceasefire" has reached at least 818, and 2301others were injured in Israeli attacks. The total death toll of the Israeli geocidal war in Gaza is at least 72,594, and 172,404 wounded since October 7, 2023.

Russia’s ambassador to the United Nations, Vassily Nebenzia, has officially backed Iran's control over the operation of the Strait of Hormuz. Vassily compared the Western nations to pirates and called out European nations supporting the attack on Russian trade vessels and Black Sea.  “There was an attempt to pin full responsibility on Iran as if it was Iran which attacked its neighbours. In times of war, a coastal state that is under attack may limit navigation in its territorial waters for the purpose of security,” said Vassily.

Iran defence ministry spokesman Reza Talaei-Nik said that the United States was no longer able to "dictate" what other countries do. "The United States is no longer in a position to dictate its policy to independent nations," , according to state TV, adding Washington would "accept that it must abandon its illegal and irrational demands".

 CNN reported that US President Donald Trump is inclined to reject the most recent proposal from Tehran aimed at resolving the ongoing conflict.

An Israeli airstrike targeted Jabal al-Batoum town in southern Lebanon, while a drone strike hit the town of Majdal Zoun, according to a report on Al Jazeera

Iran’s deputy defence minister Talaei-Nik says Tehran is ready to share its defensive weapons capabilities with members of the Shanghai Cooperation Organisation, according to state media.

“Maritime security threats now reach every coastline and every nation — even those without direct access to the sea. In an increasingly divided global landscape, trust is eroding, international law is being openly challenged, and the very foundations of collective security are under strain,” said António Guterres

Thailand's economic growth and tourist arrivals are forecast to drop this year as the Middle East war roils global energy prices, the finance ministry said Tuesday.

The country's GDP growth is projected to dip to 1.6 per cent, the ministry said in a statement, down from 2.4 per cent in 2025.

The government said in February that this year's growth forecast was between 1.5 to 2.5 per cent.

Thailand expects about 33.5 million foreign tourists this year, about two million fewer than previously estimated, the ministry said on Tuesday.

British energy giant BP on Tuesday reported a sharp rise in net profit for the first quarter as crude oil prices soared over the Middle East war.

Profit after tax jumped to $3.8 billion for the January-March period, compared with $687 million in the first quarter of 2025, BP said in an earnings statement.

US Secretary of State Marco Rubio has observed that the latest diplomatic submission from Tehran "is better than what we thought they were going to submit," though he maintained that any prospective agreement must resolutely prevent the Islamic Republic from acquiring a nuclear weapon.

Iranian Foreign Minister Abbas Araghchi arrived in Pakistan on Tuesday, marking his third visit to the country in the past 48 hours following high-level discussions with President Vladimir Putin and Foreign Minister Sergey Lavrov in St Petersburg. The visit highlights the deepening strategic cooperation between Tehran and Moscow as the region navigates what Araghchi described as a "major flux."
In a statement shared via social media, Araghchi expressed satisfaction over his engagement with the Russian leadership, noting that he was pleased to consult with the Kremlin at the "highest level" during this critical period. The diplomat emphasised that "recent events have evidenced the depth and strength of our strategic partnership," further noting that both nations remain committed to a unified front against international pressure.

The share markets in the country opened on a cautious note on Tuesday, with benchmark indices witnessing marginal declines amid continued foreign institutional investor (FII) selling, elevated crude oil prices, and ongoing geopolitical uncertainty in West Asia.
The Nifty 50 index opened at 24,049.90, declining by 42.80 points or 0.18 per cent, while the BSE Sensex started the session at 77,094.79, down by 208.84 points or 0.27 per cent.

The US Central Command (CENTCOM) has announced that the guided-missile destroyer USS Rafael Peralta intercepted the M/T Stream on Sunday, preventing the vessel from reaching its intended destination.
The American warship stopped the tanker "after it attempted to sail to an Iranian port," according to a statement released by CENTCOM.

Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights.

The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines aren't waiting for a lack of supplies to react.

Low-cost carriers -- which control a little more than a third of the global market, according to various estimates -- are feeling the pinch first due to the nature of their business model. With cheaper tickets, they have less capacity to absorb the rise in fuel costs.

US Secretary of State Marco Rubio said Iran has used the Strait of Hormuz as an "economic nuclear weapon" against the world, ruling out any deal that excludes Tehran's nuclear program.

The White House said on Monday that it was examining Iran's latest proposal to unblock the Strait of Hormuz, two months after a US and Israeli offensive sent shockwaves through the global economy.

Peace talks between the United States and Iran to end the Middle East war and fully reopen the vital strait have so far proven inconclusive since a ceasefire came into force.

Trump met with top security advisors on Monday to discuss an Iranian proposal after Tehran passed "written messages" to Washington via Pakistan, spelling out its red lines in negotiations, including on nuclear issues and the Strait of Hormuz, the Fars news agency reported.

Australian Foreign Minister Penny Wong said Tuesday the war in the Middle East has had a "disproportionate impact" on the Asia-Pacific region, as she vowed to work closely with Japan to "navigate global disruption".

Wong spoke during a visit to Tokyo, which comes just days before Prime Minister Sanae Takaichi is due to travel to Australia and Vietnam.

Takaichi's trip from May 1-5 is part of efforts to boost economic security and ensure the stable supply of energy as well as critical minerals, top government spokesman Minoru Kihara said Tuesday.

Japan's central bank on Tuesday kept its main interest rate unchanged but hiked its inflation forecasts and cut its growth projections after the Iran war sent oil prices soaring.

The Bank of Japan (BoJ) kept its main policy rate at 0.75 percent, but said it expects inflation this fiscal year of 2.8 percent, up from its previous projection of 1.9 percent.

"Comparing the projections... with those presented in the previous Outlook Report, the projected year-on-year rate of increase in the CPI (all items less fresh food) for fiscal 2026 is significantly higher and that for fiscal 2027 is also somewhat higher, reflecting the effects of the rise in crude oil prices," the BoJ said.

Iran's top diplomat blamed Washington Monday for the failure of Middle East peace talks during a visit to Russia, where President Vladimir Putin promised him Moscow's support in ending the war.

Iranian Foreign Minister Abbas Araghchi was in Saint Petersburg on a whirlwind diplomatic tour, having sandwiched a trip to Oman in between two visits to Pakistan, the main mediator in the Mideast war.

Islamabad hosted a first, unsuccessful round of US-Iran talks, and Araghchi's visit raised hopes for more negotiations over the weekend -- until US President Donald Trump scrapped a planned trip by his envoys Steve Witkoff and Jared Kushner.

France said Monday that Iran must be ready to make "major concessions" to end a crisis, as countries piled pressure on Tehran at a UN session on its control of the key Strait of Hormuz.

"There can be no lasting solution to this crisis unless the Iranian regime agrees to major concessions and a radical shift in its stance," Foreign Minister Jean-Noel Barrot told the UN Security Council.

Barrot said that Iran must show a way "to peaceful coexistence within its region and for the Iranian people to be able to build freely their own future," months after the cleric-run state ruthlessly repressed mass protests.

Iran needs guarantees against another US-Israeli attack before it can ensure security in the oil-rich Gulf, Tehran's envoy to the United Nations said Monday.

The ambassador, Amir Saeid Iravani, addressed a Security Council session initiated by Bahrain, in which dozens of countries condemned Iran for exerting control over the crucial Strait of Hormuz.

"Lasting stability and security in the Persian Gulf and the wider region can only be achieved through a durable and permanent cessation of aggression against Iran supplemented by credible guarantees of non-recurrence and full respect for the legitimate sovereign rights and interests of Iran," Iravani told the session.

Lebanon's health ministry said Israeli strikes on the country's south on Monday killed four people including a woman and wounded 51 others, three of them children, despite a ceasefire between Israel and Hezbollah.

According to an AFP tally of health ministry figures, Israeli strikes have killed at least 40 people in Lebanon since the fragile truce there began on April 17.

Oil prices rose and stock markets moved unevenly on Monday as the prospect of Iran peace talks remained stalled, ahead of a week full of central bank decisions and corporate earnings.

Iranian Foreign Minister Abbas Araghchi's visit to Islamabad had fanned hopes for new negotiations with Washington at the weekend but US President Donald Trump scrapped a planned trip by envoys on Saturday.

Both main international oil contracts pushed higher, with Brent crude rising to more than $108 a barrel as the crucial Strait of Hormuz waterway remained largely closed, although lingering hopes that a deal could eventually be reached tempered gains.

Stock markets were mixed, with both the S&P 500 and Nasdaq edging higher to finish at all-time records. But the Dow retreated, along with several leading European and Asian indices.

Mohammad Hossein Ziyaeenia, the Deputy Representative of Iran's Supreme Leader in India, has said that every country can play a role in facilitating an end to hostilies in West Asia.
During an interview with ANI, Ziyaeenia framed the current West Asian crisis as a struggle between "oppression" and "self-defence," questioning the global community's priorities in the face of rising human costs.

Responding to a question on the role of major powers, Ziyaeenia said, "In this conflict, every country can play a role. Every country can play a role, positive or negative."

Ziyaeenia stated that countries allowing US bases on their soil are playing a "negative role," arguing that such cooperation is ultimately detrimental to their own interests.

Gasoline prices in the United States climbed to a four-year high on Tuesday, as ongoing tensions linked to the Iran war showed little sign of easing.

According to data from American Automobile Association, the national average price of a gallon of fuel rose to about $4.17, up $1.19 since the conflict began on February 28. That represents an increase of roughly 28% in just two months, reflecting the sharp impact of the war on global oil markets.

Oil prices jumped on Tuesday, climbing back above $110 per barrel, amid a lack of progress in re-opening the key Strait of Hormuz.

Meanwhile, tech stocks took a hit and investors turned their attention to corporate earnings and the outlook for interest rates.

Efforts to end the Middle East war appeared at a standstill on Tuesday, with the United States considering Tehran's latest offer to unblock the strait, and Iran saying Washington could no longer dictate terms.

Iraq has no plans of leaving OPEC or OPEC+, and favours a strong organisation to ensure stable and acceptable oil prices, two Iraqi oil officials said following the UAE’s decision on Tuesday to exit the group.

Lebanon’s Health Ministry has raised the death toll from the Israel-Hezbollah war to 2,534. It said 7,863 people have been injured since the conflict began on March 2. The ongoing war has displaced over 1 million residents and caused widespread destruction estimated in billions of dollars.

The US Federal Reserve opened its two-day meeting on Tuesday with policymakers expected to keep interest rates steady, as the war on Iran's effects on energy prices and supply chains ripple through the world's largest economy.

The central bank's rate-setting Federal Open Market Committee (FOMC) began its gathering at 10:00 am Eastern time (14:00 GMT), a spokesperson said.

Fed officials are set to keep rates steady at a range between 3.50 percent and 3.75 percent, extending their pause on rate cuts since the start of the year. Their decision will be announced on Wednesday.

After being a key member of the world's largest energy body for five decades, the United Arab Emirates announced on Tuesday (April 28) that it will withdraw from the OPEC and OPEC+ oil cartels on May 1. State media called it a strategic decision by the major producer.

Iran’s customs authority has issued a directive banning exports of a range of steel products, Iranian media reported on Tuesday (April 28), signalling tighter controls on key industrial goods.

Qatar Foreign Ministry spokesperson Majed al-Ansari said that the issue right now is not with the mediator, and Pakistan is doing a great job in its mediation. “We are, as I said, supportive of this and has always been in coordination with all its partners regionally and beyond over that issue. We remain in full solidarity with Pakistan in their goal as mediator. Our position has been clear from day 1. Any conflict in the region should be solved on the negotiation table. And we believed in the negotiation process and we were supportive of the negotiation process and we will remain supportive of a diplomatic resolution," he said.

Qatar spokesperson said Doha supports a “comprehensive deal” to resolve the conflict, responding to reports that Iran may want to separate discussions on the Strait of Hormuz from its nuclear programme during a weekly briefing. Majed al-Ansari emphasised that Doha’s primary focus remains regional security, noting that Iran’s recent actions have raised serious concerns about stability in the region.

Israel's intelligence and special operations organisation, Mossad, has lauded the "groundbreaking" efforts after launching operations in Iran and Hezbollah. According to Al Jazeera, Mossad chief David Barnea stated that the Israeli spy agency has acquired “strategic and tactical intelligence from the heart of the enemy’s secrets." ”In the campaigns against Iran and Hezbollah, we worked shoulder-to-shoulder with the IDF, on both defence and offence,” David Barnea said about the Israeli military.

The head of Israel's Mossad has claimed that it acquired “groundbreaking” secrets from in its operation in Iran and against Hezbollah. "We acquired strategic and tactical intelligence from the heart of the enemy's secrets," Barnea said, adding that Mossad had “proved new, groundbreaking operational capabilities in target countries.” His remarks were delivered during a commendation ceremony at Mossad headquarters on Monday and published on Tuesday.

UK oil giant British Petroleum's profit doubled over the first three months of the US war on Iran. The UK energy giant reported a first-quarter profit of £3.2 billion ($4.3 billion), up from £1.4 billion ($1.9 billion) in the first three months of 2025. BP was hit by a shareholder rebellion last week, a direct challenge to the company's new leadership and its aggressive pivot back to fossil fuels. The company gave credit to an “exceptional” contribution from its oil trading operations due to the closure of the Strait of Hormuz and damage to the oil infrastructure in the Gulf.

Israeli airstrikes have targeted locations in the North of the Litani River in Southern Lebanon. The attacks caused a massive wave of displacement in the neighbouring villages and a traffic snarl in Nabatieh, Sidon and the capital Beirut.

An Israeli airstrike killed a nine-year-old child in the east of Khan Younis, southern Gaza, the Palestinian Wafa news agency reported. The Palestinian Health Ministry on Tuesday said that Hospitals across Gaza received one body and five injured people over the span of the last 24 hours. The death toll in Gaza since the start of the so-called "ceasefire" has reached at least 818, and 2301others were injured in Israeli attacks. The total death toll of the Israeli geocidal war in Gaza is at least 72,594, and 172,404 wounded since October 7, 2023.

Russia’s ambassador to the United Nations, Vassily Nebenzia, has officially backed Iran's control over the operation of the Strait of Hormuz. Vassily compared the Western nations to pirates and called out European nations supporting the attack on Russian trade vessels and Black Sea.  “There was an attempt to pin full responsibility on Iran as if it was Iran which attacked its neighbours. In times of war, a coastal state that is under attack may limit navigation in its territorial waters for the purpose of security,” said Vassily.

Iran defence ministry spokesman Reza Talaei-Nik said that the United States was no longer able to "dictate" what other countries do. "The United States is no longer in a position to dictate its policy to independent nations," , according to state TV, adding Washington would "accept that it must abandon its illegal and irrational demands".

 CNN reported that US President Donald Trump is inclined to reject the most recent proposal from Tehran aimed at resolving the ongoing conflict.

An Israeli airstrike targeted Jabal al-Batoum town in southern Lebanon, while a drone strike hit the town of Majdal Zoun, according to a report on Al Jazeera

Iran’s deputy defence minister Talaei-Nik says Tehran is ready to share its defensive weapons capabilities with members of the Shanghai Cooperation Organisation, according to state media.

“Maritime security threats now reach every coastline and every nation — even those without direct access to the sea. In an increasingly divided global landscape, trust is eroding, international law is being openly challenged, and the very foundations of collective security are under strain,” said António Guterres

Thailand's economic growth and tourist arrivals are forecast to drop this year as the Middle East war roils global energy prices, the finance ministry said Tuesday.

The country's GDP growth is projected to dip to 1.6 per cent, the ministry said in a statement, down from 2.4 per cent in 2025.

The government said in February that this year's growth forecast was between 1.5 to 2.5 per cent.

Thailand expects about 33.5 million foreign tourists this year, about two million fewer than previously estimated, the ministry said on Tuesday.

British energy giant BP on Tuesday reported a sharp rise in net profit for the first quarter as crude oil prices soared over the Middle East war.

Profit after tax jumped to $3.8 billion for the January-March period, compared with $687 million in the first quarter of 2025, BP said in an earnings statement.

US Secretary of State Marco Rubio has observed that the latest diplomatic submission from Tehran "is better than what we thought they were going to submit," though he maintained that any prospective agreement must resolutely prevent the Islamic Republic from acquiring a nuclear weapon.

Iranian Foreign Minister Abbas Araghchi arrived in Pakistan on Tuesday, marking his third visit to the country in the past 48 hours following high-level discussions with President Vladimir Putin and Foreign Minister Sergey Lavrov in St Petersburg. The visit highlights the deepening strategic cooperation between Tehran and Moscow as the region navigates what Araghchi described as a "major flux."
In a statement shared via social media, Araghchi expressed satisfaction over his engagement with the Russian leadership, noting that he was pleased to consult with the Kremlin at the "highest level" during this critical period. The diplomat emphasised that "recent events have evidenced the depth and strength of our strategic partnership," further noting that both nations remain committed to a unified front against international pressure.

The share markets in the country opened on a cautious note on Tuesday, with benchmark indices witnessing marginal declines amid continued foreign institutional investor (FII) selling, elevated crude oil prices, and ongoing geopolitical uncertainty in West Asia.
The Nifty 50 index opened at 24,049.90, declining by 42.80 points or 0.18 per cent, while the BSE Sensex started the session at 77,094.79, down by 208.84 points or 0.27 per cent.

The US Central Command (CENTCOM) has announced that the guided-missile destroyer USS Rafael Peralta intercepted the M/T Stream on Sunday, preventing the vessel from reaching its intended destination.
The American warship stopped the tanker "after it attempted to sail to an Iranian port," according to a statement released by CENTCOM.

Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights.

The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines aren't waiting for a lack of supplies to react.

Low-cost carriers -- which control a little more than a third of the global market, according to various estimates -- are feeling the pinch first due to the nature of their business model. With cheaper tickets, they have less capacity to absorb the rise in fuel costs.

US Secretary of State Marco Rubio said Iran has used the Strait of Hormuz as an "economic nuclear weapon" against the world, ruling out any deal that excludes Tehran's nuclear program.

The White House said on Monday that it was examining Iran's latest proposal to unblock the Strait of Hormuz, two months after a US and Israeli offensive sent shockwaves through the global economy.

Peace talks between the United States and Iran to end the Middle East war and fully reopen the vital strait have so far proven inconclusive since a ceasefire came into force.

Trump met with top security advisors on Monday to discuss an Iranian proposal after Tehran passed "written messages" to Washington via Pakistan, spelling out its red lines in negotiations, including on nuclear issues and the Strait of Hormuz, the Fars news agency reported.

Australian Foreign Minister Penny Wong said Tuesday the war in the Middle East has had a "disproportionate impact" on the Asia-Pacific region, as she vowed to work closely with Japan to "navigate global disruption".

Wong spoke during a visit to Tokyo, which comes just days before Prime Minister Sanae Takaichi is due to travel to Australia and Vietnam.

Takaichi's trip from May 1-5 is part of efforts to boost economic security and ensure the stable supply of energy as well as critical minerals, top government spokesman Minoru Kihara said Tuesday.

Japan's central bank on Tuesday kept its main interest rate unchanged but hiked its inflation forecasts and cut its growth projections after the Iran war sent oil prices soaring.

The Bank of Japan (BoJ) kept its main policy rate at 0.75 percent, but said it expects inflation this fiscal year of 2.8 percent, up from its previous projection of 1.9 percent.

"Comparing the projections... with those presented in the previous Outlook Report, the projected year-on-year rate of increase in the CPI (all items less fresh food) for fiscal 2026 is significantly higher and that for fiscal 2027 is also somewhat higher, reflecting the effects of the rise in crude oil prices," the BoJ said.

Iran's top diplomat blamed Washington Monday for the failure of Middle East peace talks during a visit to Russia, where President Vladimir Putin promised him Moscow's support in ending the war.

Iranian Foreign Minister Abbas Araghchi was in Saint Petersburg on a whirlwind diplomatic tour, having sandwiched a trip to Oman in between two visits to Pakistan, the main mediator in the Mideast war.

Islamabad hosted a first, unsuccessful round of US-Iran talks, and Araghchi's visit raised hopes for more negotiations over the weekend -- until US President Donald Trump scrapped a planned trip by his envoys Steve Witkoff and Jared Kushner.

France said Monday that Iran must be ready to make "major concessions" to end a crisis, as countries piled pressure on Tehran at a UN session on its control of the key Strait of Hormuz.

"There can be no lasting solution to this crisis unless the Iranian regime agrees to major concessions and a radical shift in its stance," Foreign Minister Jean-Noel Barrot told the UN Security Council.

Barrot said that Iran must show a way "to peaceful coexistence within its region and for the Iranian people to be able to build freely their own future," months after the cleric-run state ruthlessly repressed mass protests.

Iran needs guarantees against another US-Israeli attack before it can ensure security in the oil-rich Gulf, Tehran's envoy to the United Nations said Monday.

The ambassador, Amir Saeid Iravani, addressed a Security Council session initiated by Bahrain, in which dozens of countries condemned Iran for exerting control over the crucial Strait of Hormuz.

"Lasting stability and security in the Persian Gulf and the wider region can only be achieved through a durable and permanent cessation of aggression against Iran supplemented by credible guarantees of non-recurrence and full respect for the legitimate sovereign rights and interests of Iran," Iravani told the session.

Lebanon's health ministry said Israeli strikes on the country's south on Monday killed four people including a woman and wounded 51 others, three of them children, despite a ceasefire between Israel and Hezbollah.

According to an AFP tally of health ministry figures, Israeli strikes have killed at least 40 people in Lebanon since the fragile truce there began on April 17.

Oil prices rose and stock markets moved unevenly on Monday as the prospect of Iran peace talks remained stalled, ahead of a week full of central bank decisions and corporate earnings.

Iranian Foreign Minister Abbas Araghchi's visit to Islamabad had fanned hopes for new negotiations with Washington at the weekend but US President Donald Trump scrapped a planned trip by envoys on Saturday.

Both main international oil contracts pushed higher, with Brent crude rising to more than $108 a barrel as the crucial Strait of Hormuz waterway remained largely closed, although lingering hopes that a deal could eventually be reached tempered gains.

Stock markets were mixed, with both the S&P 500 and Nasdaq edging higher to finish at all-time records. But the Dow retreated, along with several leading European and Asian indices.

Mohammad Hossein Ziyaeenia, the Deputy Representative of Iran's Supreme Leader in India, has said that every country can play a role in facilitating an end to hostilies in West Asia.
During an interview with ANI, Ziyaeenia framed the current West Asian crisis as a struggle between "oppression" and "self-defence," questioning the global community's priorities in the face of rising human costs.

Responding to a question on the role of major powers, Ziyaeenia said, "In this conflict, every country can play a role. Every country can play a role, positive or negative."

Ziyaeenia stated that countries allowing US bases on their soil are playing a "negative role," arguing that such cooperation is ultimately detrimental to their own interests.

Gasoline prices in the United States climbed to a four-year high on Tuesday, as ongoing tensions linked to the Iran war showed little sign of easing.

According to data from American Automobile Association, the national average price of a gallon of fuel rose to about $4.17, up $1.19 since the conflict began on February 28. That represents an increase of roughly 28% in just two months, reflecting the sharp impact of the war on global oil markets.

Oil prices jumped on Tuesday, climbing back above $110 per barrel, amid a lack of progress in re-opening the key Strait of Hormuz.

Meanwhile, tech stocks took a hit and investors turned their attention to corporate earnings and the outlook for interest rates.

Efforts to end the Middle East war appeared at a standstill on Tuesday, with the United States considering Tehran's latest offer to unblock the strait, and Iran saying Washington could no longer dictate terms.

Iraq has no plans of leaving OPEC or OPEC+, and favours a strong organisation to ensure stable and acceptable oil prices, two Iraqi oil officials said following the UAE’s decision on Tuesday to exit the group.

Lebanon’s Health Ministry has raised the death toll from the Israel-Hezbollah war to 2,534. It said 7,863 people have been injured since the conflict began on March 2. The ongoing war has displaced over 1 million residents and caused widespread destruction estimated in billions of dollars.

The US Federal Reserve opened its two-day meeting on Tuesday with policymakers expected to keep interest rates steady, as the war on Iran's effects on energy prices and supply chains ripple through the world's largest economy.

The central bank's rate-setting Federal Open Market Committee (FOMC) began its gathering at 10:00 am Eastern time (14:00 GMT), a spokesperson said.

Fed officials are set to keep rates steady at a range between 3.50 percent and 3.75 percent, extending their pause on rate cuts since the start of the year. Their decision will be announced on Wednesday.

After being a key member of the world's largest energy body for five decades, the United Arab Emirates announced on Tuesday (April 28) that it will withdraw from the OPEC and OPEC+ oil cartels on May 1. State media called it a strategic decision by the major producer.

Iran’s customs authority has issued a directive banning exports of a range of steel products, Iranian media reported on Tuesday (April 28), signalling tighter controls on key industrial goods.

Qatar Foreign Ministry spokesperson Majed al-Ansari said that the issue right now is not with the mediator, and Pakistan is doing a great job in its mediation. “We are, as I said, supportive of this and has always been in coordination with all its partners regionally and beyond over that issue. We remain in full solidarity with Pakistan in their goal as mediator. Our position has been clear from day 1. Any conflict in the region should be solved on the negotiation table. And we believed in the negotiation process and we were supportive of the negotiation process and we will remain supportive of a diplomatic resolution," he said.

Qatar spokesperson said Doha supports a “comprehensive deal” to resolve the conflict, responding to reports that Iran may want to separate discussions on the Strait of Hormuz from its nuclear programme during a weekly briefing. Majed al-Ansari emphasised that Doha’s primary focus remains regional security, noting that Iran’s recent actions have raised serious concerns about stability in the region.

Israel's intelligence and special operations organisation, Mossad, has lauded the "groundbreaking" efforts after launching operations in Iran and Hezbollah. According to Al Jazeera, Mossad chief David Barnea stated that the Israeli spy agency has acquired “strategic and tactical intelligence from the heart of the enemy’s secrets." ”In the campaigns against Iran and Hezbollah, we worked shoulder-to-shoulder with the IDF, on both defence and offence,” David Barnea said about the Israeli military.

The head of Israel's Mossad has claimed that it acquired “groundbreaking” secrets from in its operation in Iran and against Hezbollah. "We acquired strategic and tactical intelligence from the heart of the enemy's secrets," Barnea said, adding that Mossad had “proved new, groundbreaking operational capabilities in target countries.” His remarks were delivered during a commendation ceremony at Mossad headquarters on Monday and published on Tuesday.

UK oil giant British Petroleum's profit doubled over the first three months of the US war on Iran. The UK energy giant reported a first-quarter profit of £3.2 billion ($4.3 billion), up from £1.4 billion ($1.9 billion) in the first three months of 2025. BP was hit by a shareholder rebellion last week, a direct challenge to the company's new leadership and its aggressive pivot back to fossil fuels. The company gave credit to an “exceptional” contribution from its oil trading operations due to the closure of the Strait of Hormuz and damage to the oil infrastructure in the Gulf.

Israeli airstrikes have targeted locations in the North of the Litani River in Southern Lebanon. The attacks caused a massive wave of displacement in the neighbouring villages and a traffic snarl in Nabatieh, Sidon and the capital Beirut.

An Israeli airstrike killed a nine-year-old child in the east of Khan Younis, southern Gaza, the Palestinian Wafa news agency reported. The Palestinian Health Ministry on Tuesday said that Hospitals across Gaza received one body and five injured people over the span of the last 24 hours. The death toll in Gaza since the start of the so-called "ceasefire" has reached at least 818, and 2301others were injured in Israeli attacks. The total death toll of the Israeli geocidal war in Gaza is at least 72,594, and 172,404 wounded since October 7, 2023.

Russia’s ambassador to the United Nations, Vassily Nebenzia, has officially backed Iran's control over the operation of the Strait of Hormuz. Vassily compared the Western nations to pirates and called out European nations supporting the attack on Russian trade vessels and Black Sea.  “There was an attempt to pin full responsibility on Iran as if it was Iran which attacked its neighbours. In times of war, a coastal state that is under attack may limit navigation in its territorial waters for the purpose of security,” said Vassily.

Iran defence ministry spokesman Reza Talaei-Nik said that the United States was no longer able to "dictate" what other countries do. "The United States is no longer in a position to dictate its policy to independent nations," , according to state TV, adding Washington would "accept that it must abandon its illegal and irrational demands".

 CNN reported that US President Donald Trump is inclined to reject the most recent proposal from Tehran aimed at resolving the ongoing conflict.

An Israeli airstrike targeted Jabal al-Batoum town in southern Lebanon, while a drone strike hit the town of Majdal Zoun, according to a report on Al Jazeera

Iran’s deputy defence minister Talaei-Nik says Tehran is ready to share its defensive weapons capabilities with members of the Shanghai Cooperation Organisation, according to state media.

“Maritime security threats now reach every coastline and every nation — even those without direct access to the sea. In an increasingly divided global landscape, trust is eroding, international law is being openly challenged, and the very foundations of collective security are under strain,” said António Guterres

Thailand's economic growth and tourist arrivals are forecast to drop this year as the Middle East war roils global energy prices, the finance ministry said Tuesday.

The country's GDP growth is projected to dip to 1.6 per cent, the ministry said in a statement, down from 2.4 per cent in 2025.

The government said in February that this year's growth forecast was between 1.5 to 2.5 per cent.

Thailand expects about 33.5 million foreign tourists this year, about two million fewer than previously estimated, the ministry said on Tuesday.

British energy giant BP on Tuesday reported a sharp rise in net profit for the first quarter as crude oil prices soared over the Middle East war.

Profit after tax jumped to $3.8 billion for the January-March period, compared with $687 million in the first quarter of 2025, BP said in an earnings statement.

US Secretary of State Marco Rubio has observed that the latest diplomatic submission from Tehran "is better than what we thought they were going to submit," though he maintained that any prospective agreement must resolutely prevent the Islamic Republic from acquiring a nuclear weapon.

Iranian Foreign Minister Abbas Araghchi arrived in Pakistan on Tuesday, marking his third visit to the country in the past 48 hours following high-level discussions with President Vladimir Putin and Foreign Minister Sergey Lavrov in St Petersburg. The visit highlights the deepening strategic cooperation between Tehran and Moscow as the region navigates what Araghchi described as a "major flux."
In a statement shared via social media, Araghchi expressed satisfaction over his engagement with the Russian leadership, noting that he was pleased to consult with the Kremlin at the "highest level" during this critical period. The diplomat emphasised that "recent events have evidenced the depth and strength of our strategic partnership," further noting that both nations remain committed to a unified front against international pressure.

The share markets in the country opened on a cautious note on Tuesday, with benchmark indices witnessing marginal declines amid continued foreign institutional investor (FII) selling, elevated crude oil prices, and ongoing geopolitical uncertainty in West Asia.
The Nifty 50 index opened at 24,049.90, declining by 42.80 points or 0.18 per cent, while the BSE Sensex started the session at 77,094.79, down by 208.84 points or 0.27 per cent.

The US Central Command (CENTCOM) has announced that the guided-missile destroyer USS Rafael Peralta intercepted the M/T Stream on Sunday, preventing the vessel from reaching its intended destination.
The American warship stopped the tanker "after it attempted to sail to an Iranian port," according to a statement released by CENTCOM.

Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights.

The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines aren't waiting for a lack of supplies to react.

Low-cost carriers -- which control a little more than a third of the global market, according to various estimates -- are feeling the pinch first due to the nature of their business model. With cheaper tickets, they have less capacity to absorb the rise in fuel costs.

US Secretary of State Marco Rubio said Iran has used the Strait of Hormuz as an "economic nuclear weapon" against the world, ruling out any deal that excludes Tehran's nuclear program.

The White House said on Monday that it was examining Iran's latest proposal to unblock the Strait of Hormuz, two months after a US and Israeli offensive sent shockwaves through the global economy.

Peace talks between the United States and Iran to end the Middle East war and fully reopen the vital strait have so far proven inconclusive since a ceasefire came into force.

Trump met with top security advisors on Monday to discuss an Iranian proposal after Tehran passed "written messages" to Washington via Pakistan, spelling out its red lines in negotiations, including on nuclear issues and the Strait of Hormuz, the Fars news agency reported.

Australian Foreign Minister Penny Wong said Tuesday the war in the Middle East has had a "disproportionate impact" on the Asia-Pacific region, as she vowed to work closely with Japan to "navigate global disruption".

Wong spoke during a visit to Tokyo, which comes just days before Prime Minister Sanae Takaichi is due to travel to Australia and Vietnam.

Takaichi's trip from May 1-5 is part of efforts to boost economic security and ensure the stable supply of energy as well as critical minerals, top government spokesman Minoru Kihara said Tuesday.

Japan's central bank on Tuesday kept its main interest rate unchanged but hiked its inflation forecasts and cut its growth projections after the Iran war sent oil prices soaring.

The Bank of Japan (BoJ) kept its main policy rate at 0.75 percent, but said it expects inflation this fiscal year of 2.8 percent, up from its previous projection of 1.9 percent.

"Comparing the projections... with those presented in the previous Outlook Report, the projected year-on-year rate of increase in the CPI (all items less fresh food) for fiscal 2026 is significantly higher and that for fiscal 2027 is also somewhat higher, reflecting the effects of the rise in crude oil prices," the BoJ said.

Iran's top diplomat blamed Washington Monday for the failure of Middle East peace talks during a visit to Russia, where President Vladimir Putin promised him Moscow's support in ending the war.

Iranian Foreign Minister Abbas Araghchi was in Saint Petersburg on a whirlwind diplomatic tour, having sandwiched a trip to Oman in between two visits to Pakistan, the main mediator in the Mideast war.

Islamabad hosted a first, unsuccessful round of US-Iran talks, and Araghchi's visit raised hopes for more negotiations over the weekend -- until US President Donald Trump scrapped a planned trip by his envoys Steve Witkoff and Jared Kushner.

France said Monday that Iran must be ready to make "major concessions" to end a crisis, as countries piled pressure on Tehran at a UN session on its control of the key Strait of Hormuz.

"There can be no lasting solution to this crisis unless the Iranian regime agrees to major concessions and a radical shift in its stance," Foreign Minister Jean-Noel Barrot told the UN Security Council.

Barrot said that Iran must show a way "to peaceful coexistence within its region and for the Iranian people to be able to build freely their own future," months after the cleric-run state ruthlessly repressed mass protests.

Iran needs guarantees against another US-Israeli attack before it can ensure security in the oil-rich Gulf, Tehran's envoy to the United Nations said Monday.

The ambassador, Amir Saeid Iravani, addressed a Security Council session initiated by Bahrain, in which dozens of countries condemned Iran for exerting control over the crucial Strait of Hormuz.

"Lasting stability and security in the Persian Gulf and the wider region can only be achieved through a durable and permanent cessation of aggression against Iran supplemented by credible guarantees of non-recurrence and full respect for the legitimate sovereign rights and interests of Iran," Iravani told the session.

Lebanon's health ministry said Israeli strikes on the country's south on Monday killed four people including a woman and wounded 51 others, three of them children, despite a ceasefire between Israel and Hezbollah.

According to an AFP tally of health ministry figures, Israeli strikes have killed at least 40 people in Lebanon since the fragile truce there began on April 17.

Oil prices rose and stock markets moved unevenly on Monday as the prospect of Iran peace talks remained stalled, ahead of a week full of central bank decisions and corporate earnings.

Iranian Foreign Minister Abbas Araghchi's visit to Islamabad had fanned hopes for new negotiations with Washington at the weekend but US President Donald Trump scrapped a planned trip by envoys on Saturday.

Both main international oil contracts pushed higher, with Brent crude rising to more than $108 a barrel as the crucial Strait of Hormuz waterway remained largely closed, although lingering hopes that a deal could eventually be reached tempered gains.

Stock markets were mixed, with both the S&P 500 and Nasdaq edging higher to finish at all-time records. But the Dow retreated, along with several leading European and Asian indices.

Mohammad Hossein Ziyaeenia, the Deputy Representative of Iran's Supreme Leader in India, has said that every country can play a role in facilitating an end to hostilies in West Asia.
During an interview with ANI, Ziyaeenia framed the current West Asian crisis as a struggle between "oppression" and "self-defence," questioning the global community's priorities in the face of rising human costs.

Responding to a question on the role of major powers, Ziyaeenia said, "In this conflict, every country can play a role. Every country can play a role, positive or negative."

Ziyaeenia stated that countries allowing US bases on their soil are playing a "negative role," arguing that such cooperation is ultimately detrimental to their own interests.

Gasoline prices in the United States climbed to a four-year high on Tuesday, as ongoing tensions linked to the Iran war showed little sign of easing.

According to data from American Automobile Association, the national average price of a gallon of fuel rose to about $4.17, up $1.19 since the conflict began on February 28. That represents an increase of roughly 28% in just two months, reflecting the sharp impact of the war on global oil markets.

Oil prices jumped on Tuesday, climbing back above $110 per barrel, amid a lack of progress in re-opening the key Strait of Hormuz.

Meanwhile, tech stocks took a hit and investors turned their attention to corporate earnings and the outlook for interest rates.

Efforts to end the Middle East war appeared at a standstill on Tuesday, with the United States considering Tehran's latest offer to unblock the strait, and Iran saying Washington could no longer dictate terms.

Iraq has no plans of leaving OPEC or OPEC+, and favours a strong organisation to ensure stable and acceptable oil prices, two Iraqi oil officials said following the UAE’s decision on Tuesday to exit the group.

Lebanon’s Health Ministry has raised the death toll from the Israel-Hezbollah war to 2,534. It said 7,863 people have been injured since the conflict began on March 2. The ongoing war has displaced over 1 million residents and caused widespread destruction estimated in billions of dollars.

The US Federal Reserve opened its two-day meeting on Tuesday with policymakers expected to keep interest rates steady, as the war on Iran's effects on energy prices and supply chains ripple through the world's largest economy.

The central bank's rate-setting Federal Open Market Committee (FOMC) began its gathering at 10:00 am Eastern time (14:00 GMT), a spokesperson said.

Fed officials are set to keep rates steady at a range between 3.50 percent and 3.75 percent, extending their pause on rate cuts since the start of the year. Their decision will be announced on Wednesday.

After being a key member of the world's largest energy body for five decades, the United Arab Emirates announced on Tuesday (April 28) that it will withdraw from the OPEC and OPEC+ oil cartels on May 1. State media called it a strategic decision by the major producer.

Iran’s customs authority has issued a directive banning exports of a range of steel products, Iranian media reported on Tuesday (April 28), signalling tighter controls on key industrial goods.

Qatar Foreign Ministry spokesperson Majed al-Ansari said that the issue right now is not with the mediator, and Pakistan is doing a great job in its mediation. “We are, as I said, supportive of this and has always been in coordination with all its partners regionally and beyond over that issue. We remain in full solidarity with Pakistan in their goal as mediator. Our position has been clear from day 1. Any conflict in the region should be solved on the negotiation table. And we believed in the negotiation process and we were supportive of the negotiation process and we will remain supportive of a diplomatic resolution," he said.

Qatar spokesperson said Doha supports a “comprehensive deal” to resolve the conflict, responding to reports that Iran may want to separate discussions on the Strait of Hormuz from its nuclear programme during a weekly briefing. Majed al-Ansari emphasised that Doha’s primary focus remains regional security, noting that Iran’s recent actions have raised serious concerns about stability in the region.

Israel's intelligence and special operations organisation, Mossad, has lauded the "groundbreaking" efforts after launching operations in Iran and Hezbollah. According to Al Jazeera, Mossad chief David Barnea stated that the Israeli spy agency has acquired “strategic and tactical intelligence from the heart of the enemy’s secrets." ”In the campaigns against Iran and Hezbollah, we worked shoulder-to-shoulder with the IDF, on both defence and offence,” David Barnea said about the Israeli military.

The head of Israel's Mossad has claimed that it acquired “groundbreaking” secrets from in its operation in Iran and against Hezbollah. "We acquired strategic and tactical intelligence from the heart of the enemy's secrets," Barnea said, adding that Mossad had “proved new, groundbreaking operational capabilities in target countries.” His remarks were delivered during a commendation ceremony at Mossad headquarters on Monday and published on Tuesday.

UK oil giant British Petroleum's profit doubled over the first three months of the US war on Iran. The UK energy giant reported a first-quarter profit of £3.2 billion ($4.3 billion), up from £1.4 billion ($1.9 billion) in the first three months of 2025. BP was hit by a shareholder rebellion last week, a direct challenge to the company's new leadership and its aggressive pivot back to fossil fuels. The company gave credit to an “exceptional” contribution from its oil trading operations due to the closure of the Strait of Hormuz and damage to the oil infrastructure in the Gulf.

Israeli airstrikes have targeted locations in the North of the Litani River in Southern Lebanon. The attacks caused a massive wave of displacement in the neighbouring villages and a traffic snarl in Nabatieh, Sidon and the capital Beirut.

An Israeli airstrike killed a nine-year-old child in the east of Khan Younis, southern Gaza, the Palestinian Wafa news agency reported. The Palestinian Health Ministry on Tuesday said that Hospitals across Gaza received one body and five injured people over the span of the last 24 hours. The death toll in Gaza since the start of the so-called "ceasefire" has reached at least 818, and 2301others were injured in Israeli attacks. The total death toll of the Israeli geocidal war in Gaza is at least 72,594, and 172,404 wounded since October 7, 2023.

Russia’s ambassador to the United Nations, Vassily Nebenzia, has officially backed Iran's control over the operation of the Strait of Hormuz. Vassily compared the Western nations to pirates and called out European nations supporting the attack on Russian trade vessels and Black Sea.  “There was an attempt to pin full responsibility on Iran as if it was Iran which attacked its neighbours. In times of war, a coastal state that is under attack may limit navigation in its territorial waters for the purpose of security,” said Vassily.

Iran defence ministry spokesman Reza Talaei-Nik said that the United States was no longer able to "dictate" what other countries do. "The United States is no longer in a position to dictate its policy to independent nations," , according to state TV, adding Washington would "accept that it must abandon its illegal and irrational demands".

 CNN reported that US President Donald Trump is inclined to reject the most recent proposal from Tehran aimed at resolving the ongoing conflict.

An Israeli airstrike targeted Jabal al-Batoum town in southern Lebanon, while a drone strike hit the town of Majdal Zoun, according to a report on Al Jazeera

Iran’s deputy defence minister Talaei-Nik says Tehran is ready to share its defensive weapons capabilities with members of the Shanghai Cooperation Organisation, according to state media.

“Maritime security threats now reach every coastline and every nation — even those without direct access to the sea. In an increasingly divided global landscape, trust is eroding, international law is being openly challenged, and the very foundations of collective security are under strain,” said António Guterres

Thailand's economic growth and tourist arrivals are forecast to drop this year as the Middle East war roils global energy prices, the finance ministry said Tuesday.

The country's GDP growth is projected to dip to 1.6 per cent, the ministry said in a statement, down from 2.4 per cent in 2025.

The government said in February that this year's growth forecast was between 1.5 to 2.5 per cent.

Thailand expects about 33.5 million foreign tourists this year, about two million fewer than previously estimated, the ministry said on Tuesday.

British energy giant BP on Tuesday reported a sharp rise in net profit for the first quarter as crude oil prices soared over the Middle East war.

Profit after tax jumped to $3.8 billion for the January-March period, compared with $687 million in the first quarter of 2025, BP said in an earnings statement.

US Secretary of State Marco Rubio has observed that the latest diplomatic submission from Tehran "is better than what we thought they were going to submit," though he maintained that any prospective agreement must resolutely prevent the Islamic Republic from acquiring a nuclear weapon.

Iranian Foreign Minister Abbas Araghchi arrived in Pakistan on Tuesday, marking his third visit to the country in the past 48 hours following high-level discussions with President Vladimir Putin and Foreign Minister Sergey Lavrov in St Petersburg. The visit highlights the deepening strategic cooperation between Tehran and Moscow as the region navigates what Araghchi described as a "major flux."
In a statement shared via social media, Araghchi expressed satisfaction over his engagement with the Russian leadership, noting that he was pleased to consult with the Kremlin at the "highest level" during this critical period. The diplomat emphasised that "recent events have evidenced the depth and strength of our strategic partnership," further noting that both nations remain committed to a unified front against international pressure.

The share markets in the country opened on a cautious note on Tuesday, with benchmark indices witnessing marginal declines amid continued foreign institutional investor (FII) selling, elevated crude oil prices, and ongoing geopolitical uncertainty in West Asia.
The Nifty 50 index opened at 24,049.90, declining by 42.80 points or 0.18 per cent, while the BSE Sensex started the session at 77,094.79, down by 208.84 points or 0.27 per cent.

The US Central Command (CENTCOM) has announced that the guided-missile destroyer USS Rafael Peralta intercepted the M/T Stream on Sunday, preventing the vessel from reaching its intended destination.
The American warship stopped the tanker "after it attempted to sail to an Iranian port," according to a statement released by CENTCOM.

Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights.

The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines aren't waiting for a lack of supplies to react.

Low-cost carriers -- which control a little more than a third of the global market, according to various estimates -- are feeling the pinch first due to the nature of their business model. With cheaper tickets, they have less capacity to absorb the rise in fuel costs.

US Secretary of State Marco Rubio said Iran has used the Strait of Hormuz as an "economic nuclear weapon" against the world, ruling out any deal that excludes Tehran's nuclear program.

The White House said on Monday that it was examining Iran's latest proposal to unblock the Strait of Hormuz, two months after a US and Israeli offensive sent shockwaves through the global economy.

Peace talks between the United States and Iran to end the Middle East war and fully reopen the vital strait have so far proven inconclusive since a ceasefire came into force.

Trump met with top security advisors on Monday to discuss an Iranian proposal after Tehran passed "written messages" to Washington via Pakistan, spelling out its red lines in negotiations, including on nuclear issues and the Strait of Hormuz, the Fars news agency reported.

Australian Foreign Minister Penny Wong said Tuesday the war in the Middle East has had a "disproportionate impact" on the Asia-Pacific region, as she vowed to work closely with Japan to "navigate global disruption".

Wong spoke during a visit to Tokyo, which comes just days before Prime Minister Sanae Takaichi is due to travel to Australia and Vietnam.

Takaichi's trip from May 1-5 is part of efforts to boost economic security and ensure the stable supply of energy as well as critical minerals, top government spokesman Minoru Kihara said Tuesday.

Japan's central bank on Tuesday kept its main interest rate unchanged but hiked its inflation forecasts and cut its growth projections after the Iran war sent oil prices soaring.

The Bank of Japan (BoJ) kept its main policy rate at 0.75 percent, but said it expects inflation this fiscal year of 2.8 percent, up from its previous projection of 1.9 percent.

"Comparing the projections... with those presented in the previous Outlook Report, the projected year-on-year rate of increase in the CPI (all items less fresh food) for fiscal 2026 is significantly higher and that for fiscal 2027 is also somewhat higher, reflecting the effects of the rise in crude oil prices," the BoJ said.

Iran's top diplomat blamed Washington Monday for the failure of Middle East peace talks during a visit to Russia, where President Vladimir Putin promised him Moscow's support in ending the war.

Iranian Foreign Minister Abbas Araghchi was in Saint Petersburg on a whirlwind diplomatic tour, having sandwiched a trip to Oman in between two visits to Pakistan, the main mediator in the Mideast war.

Islamabad hosted a first, unsuccessful round of US-Iran talks, and Araghchi's visit raised hopes for more negotiations over the weekend -- until US President Donald Trump scrapped a planned trip by his envoys Steve Witkoff and Jared Kushner.

France said Monday that Iran must be ready to make "major concessions" to end a crisis, as countries piled pressure on Tehran at a UN session on its control of the key Strait of Hormuz.

"There can be no lasting solution to this crisis unless the Iranian regime agrees to major concessions and a radical shift in its stance," Foreign Minister Jean-Noel Barrot told the UN Security Council.

Barrot said that Iran must show a way "to peaceful coexistence within its region and for the Iranian people to be able to build freely their own future," months after the cleric-run state ruthlessly repressed mass protests.

Iran needs guarantees against another US-Israeli attack before it can ensure security in the oil-rich Gulf, Tehran's envoy to the United Nations said Monday.

The ambassador, Amir Saeid Iravani, addressed a Security Council session initiated by Bahrain, in which dozens of countries condemned Iran for exerting control over the crucial Strait of Hormuz.

"Lasting stability and security in the Persian Gulf and the wider region can only be achieved through a durable and permanent cessation of aggression against Iran supplemented by credible guarantees of non-recurrence and full respect for the legitimate sovereign rights and interests of Iran," Iravani told the session.

Lebanon's health ministry said Israeli strikes on the country's south on Monday killed four people including a woman and wounded 51 others, three of them children, despite a ceasefire between Israel and Hezbollah.

According to an AFP tally of health ministry figures, Israeli strikes have killed at least 40 people in Lebanon since the fragile truce there began on April 17.

Oil prices rose and stock markets moved unevenly on Monday as the prospect of Iran peace talks remained stalled, ahead of a week full of central bank decisions and corporate earnings.

Iranian Foreign Minister Abbas Araghchi's visit to Islamabad had fanned hopes for new negotiations with Washington at the weekend but US President Donald Trump scrapped a planned trip by envoys on Saturday.

Both main international oil contracts pushed higher, with Brent crude rising to more than $108 a barrel as the crucial Strait of Hormuz waterway remained largely closed, although lingering hopes that a deal could eventually be reached tempered gains.

Stock markets were mixed, with both the S&P 500 and Nasdaq edging higher to finish at all-time records. But the Dow retreated, along with several leading European and Asian indices.