Oil

Iran's "fast-attack" ships have not been considered much of a threat, according to Trump, but have since been used to seize two container ships near the Strait.

The IRGC seized the ships on Wednesday, with both crews reported as safe, as their home countries actively seek their return.

Operation Economic Fury began with the blockade of Iranian ports in the Strait of Hormuz before expanding to ships providing support to the Iranian regime in international waters.

The EU plans to cut electricity taxes and coordinate gas storage efforts to mitigate the energy fallout from the Iran conflict, without major market interventions.

The EU is preparing measures to curb the impact the war is having on jet fuel supply, Jorgensen told reporters in Madrid.

Abdullah Al-Khamis, a Kuwaiti political journalist, proposes an alternative: an Arab coordination council comprising the Gulf states, Jordan, Morocco, and Syria.

Iran rejected new peace talks with the US, its state news agency reported on Sunday, hours after US President Donald Trump said he was sending envoys for talks in Pakistan

During the war, Qatar faced around 700 Iranian missile and drone attacks targeting US bases on its territory. Although no civilian casualties were reported, its economy faced devastating impacts.

At least four people were injured, with three hospitalized, following an explosion at BP's Cherry Point Refinery in Blaine, Washington.

The Treasury Department's waiver lets countries purchase Russian oil and petroleum products loaded on vessels as of Friday through May 16.