Benchmark Brent crude spikes over 7% to $126.41 as a US naval blockade on Iran deepens. International Energy Agency warns of a major energy and economic challenge.
President Pezeshkian says any attempt to impose maritime restrictions is contrary to international law. He warns it will fail to enhance security and will disrupt lasting stability in the Persian Gulf.
Leaders agree to a fragile three-week extension, narrowly avoiding renewed conflict centered on critical oil routes. The pause allows negotiators to discuss a comprehensive regional security proposal led by international mediators.
Crown Prince announces unprecedented foreign direct investment opportunities for NEOM and the Red Sea Project, showcasing advances in green hydrogen and smart city technology. The new phase marks a significant leap in diversifying the region’s economic core.
New World Economic Outlook projects a slowdown in GCC economies, citing the direct impact of recent disruptions on key export infrastructure and global supply chains. Analysts warn of inflationary pressures affecting non-oil sectors.
Member nations begin planting the first billion of a pledged 50 billion trees, deploying advanced water-recycling and desert agriculture technologies. The historic project aims to restore 200 million hectares of degraded land to combat climate change.
Following Iran’s decision to re-close the Strait of Hormuz, President Trump declared that the U.S. naval blockade will remain in “full force” until a comprehensive nuclear deal is reached. He dismissed Tehran’s move as an attempt to blackmail Washington, reinforcing the military’s orders to turn back Iranian vessels.
Senator Thom Tillis is convening a “Crypto-Palooza” on Capitol Hill, bringing together banking giants and crypto industry leaders to finalize the CLARITY Act. The negotiations center on controversial provisions regarding stablecoin yields, a move Treasury Secretary Scott Bessent urges is vital for U.S. financial stability.
In a high-stakes showdown, Jalen Green’s explosive performance propelled the Phoenix Suns past the Golden State Warriors, ending Stephen Curry’s season. The Suns now advance to a highly anticipated playoff series against the top-seeded Oklahoma City Thunder.