Strait of Hormuz

May 13, 2026 9:20 AM

Trump promises US-Cuba talks but gives no details

President Donald Trump said on Tuesday Cuba is asking for help and "we are going to talk," without providing any more information about U.S. plans. Trump has heaped pressure on the Caribbean island nation since returning to office last year, and threatened that Cuba "is next" after U.S. forces captured Nicolas Maduro, the president of longtime Cuban ally Venezuela, in January. "No Republican has ever spoken to me about Cuba, which is a failed country and only heading in one direction - down! C...

May 13, 2026 9:17 AM

Kremlin, Trump say Ukraine war nearly over after Zelenskiy casts doubt

The Kremlin repeated Russian President Vladimir Putin's assertion that the war in Ukraine was almost over on Tuesday and U.S. President Donald Trump said the war's conclusion was "very close," perspectives not shared by Ukrainian President Volodymyr Zelenskiy, who said Moscow had no intention of ending it. "I think that the matter is coming to an end," Putin told reporters on Saturday. Asked to comment on Putin's remarks, Kremlin spokesman Dmitry Peskov said on Tuesday that a certain amount of...

May 13, 2026 9:13 AM

Trump says he does not need China’s help to end Iran war, Tehran tightens grip on Hormuz

U.S. President Donald Trump said on Tuesday he does not think he will need China's help to end the war with Iran, even as hopes for a lasting peace deal dwindled and Tehran tightened its grip over the Strait of Hormuz. Ahead of a high-stakes summit in Beijing, Trump said he did not think he would need to enlist Chinese President Xi Jinping to resolve the conflict, which has continued to block maritime traffic that normally provides one-fifth of the world's oil supply. "I don't think we need an...

May 13, 2026 12:37 PM

US-Iran ceasefire under strain as Trump rejects Tehran proposal, regional tensions escalate

The fragile ceasefire between the United States and Iran appears increasingly unstable after President Donald Trump rejected Tehran’s latest peace proposal, describing the agreement as being on "massive life support" and dismissing Iran’s counter-offer as "garbage." The sharp exchange has deepened uncertainty over efforts to prevent a wider conflict in West Asia. Iran’s parliament speaker Mohammad Bagher Ghalibaf warned that the country’s armed forces were "prepared to deliver a lesson-...

May 12, 2026 4:20 PM

Hopes fade for Iran peace deal as Trump says ceasefire on ‘life support’

Hopes for a peace deal on Iran faded on Tuesday after Donald Trump said a ceasefire with Iran was "on life support" as Tehran rejected a U.S. proposal to end the conflict and stuck to a list of demands the U.S. president described as "garbage". Iran has called for an end to the war on all fronts, including Lebanon, where U.S. ally Israel is fighting Iran-backed Hezbollah militants. Tehran also emphasised its sovereignty over the Strait of Hormuz, demanded compensation for war damage, and an end...

May 12, 2026 3:55 PM

Iran now defines Strait of Hormuz as far larger zone, IRGC officer says

Iran has expanded its definition of the Strait of Hormuz into a "vast operational area" far wider than before the Iran war, according to a senior officer in the Islamic Revolutionary Guard Corps (IRGC) Navy. The strait is no longer viewed as a narrow stretch around a handful of islands but instead has been greatly enlarged in scope and military significance, said Mohammad Akbarzadeh, deputy political director of the IRGC Navy, the state-affiliated Fars news agency reported on Tuesday. "In the ...

May 12, 2026 11:25 AM

Global Markets – AI rally pauses as Middle East ceasefire goes on ‘life support’

Oil crept higher and the dollar rose on Tuesday as hopes faded for a deal to get ships moving through the Strait of Hormuz, while a red-hot chip rally in chip stocks cooled and traders waited on U.S. inflation figures. U.S. President Donald Trump said the ceasefire with Iran was "on life support" after Tehran's response to a U.S. proposal to end the war made clear the two sides were still far apart. Brent crude futures were up 0.7% to $105 a barrel. S&P 500 futures dipped 0.2% and even the...

May 11, 2026 1:50 PM

Trump dismisses Iran’s reply to peace plan, oil jumps as Hormuz closure persists

President Donald Trump's swift rejection of Iran's response to a U.S. peace proposal sent oil prices surging on Monday amid concerns the 10-week-old conflict will drag on, keeping shipping through the Strait of Hormuz paralysed. Days after the U.S. floated an offer in the hopes of re-opening negotiations, Iran on Sunday released a response focused on ending the war on all fronts, especially Lebanon, where U.S. ally Israel is fighting Iran-backed Hezbollah militants. Tehran also included a dema...

May 11, 2026 9:41 AM

Global share futures wobble, dollar gains as Gulf talks teeter

The dollar climbed in Asia on Monday on signs that talks between the United States and Iran were deadlocked, leaving the vital Strait of Hormuz all but shut and sending oil prices higher. U.S. stock futures wobbled and in Asia gains in a handful of AI-related stocks lifted share markets in Tokyo and Seoul. President Donald Trump on Sunday rejected Iran's response to a U.S. proposal for peace talks to end the war, saying Tehran's demands were "totally unacceptable." An Iranian plan sent to the...

May 10, 2026 10:05 AM

US, Iran no closer to ending war as Qatari tanker sails toward Strait of Hormuz

A state of relative calm prevailed around the Strait of Hormuz on Saturday, after days of sporadic flare-ups, as the United States waited for Iran's response to its latest proposals to end more than two months of fighting and begin peace talks. U.S. Secretary of State Marco Rubio said on Friday that Washington expected a response within hours. But a day later, there was no sign of movement from Tehran on the proposal, which would formally end the war before talks on more contentious issues, inc...