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The Latest Breaking News from Iran

Digital bottleneck: How Iran wants to use internet access as leverage in the war

Tehran is floating the idea of charging the world’s largest tech companies – including Google, Meta, Microsoft and Amazon – for using the undersea internet cables crossing the Strait of Hormuz in a new attempt to exploit its control over the critical waterway to ratchet up economic pressure on the…

France 24

AAP Rolling News Bulletin May 21, 0530

AAP Rolling News Bulletin for May 21 at 0530

AAP

New UAE oil pipeline bypassing Hormuz 50% complete ahead of 2027 start

Iran, which has attacked vessels to assert control over the Strait, has expanded its definition of the waterway to include the UAE's Gulf of Oman coastline. The U.S. has imposed its own blockade on Iranian ports and attempted an aborted operation to reopen the chokepoint.

The Economic Times

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Regulators looking at three firms over multimillion-dollar trades before Trump’s Iran war announcement, report says

The three financial firms, which have not been accused of wrongdoing, said they had not been contacted by the Commodity Futures Trading Commission

The Independent UK

Pakistan steps up bid to get US-Iran talks on track

Mediators are trying to speed up US-Iran peace talks as Tehran weighs a response from Washington and President Donald Trump says he's willing to resume attacks.

AAP

Fed minutes show more policymakers were prepared to lay groundwork for rate hike

Federal Reserve minutes show growing concern that inflation driven by the Iran war could persist above the 2% target, prompting discussions around possible future rate hikes. Several policymakers signalled tightening may be needed, marking a more hawkish shift. Bond yields rose as markets priced in reduced chances of rate cuts.

The Economic Times

Oil Plummets As Hopes For An Iran Deal Rise After Trump's Remarks About Talks Being In 'Final Stages'

Oil prices fell sharply on Wednesday after President Donald Trump said talks with Iran to end the war are in their "final stages."

International Business Times

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Trump may see himself in Ahmadinejad but having him lead Iran was a perplexing idea

Former Iranian president has a populist, headline-grabbing communication style but is an avowed anti-Zionist. How could Israel see him as a man to do business with?

The Guardian - UK

Prices at the pump hit $4 a gallon in all 50 states—just as summer driving season begins

The average gasoline price could surge above $5 by the end of the summer if the war continues unabated.

Fortune

The U.S. Government's Shifting Excuses for Bombing a School in Iran

The Trump administration has come up with contradictory reasons to avoid admitting to an obvious, terrible mistake.

Reason

Cotton Back to Mixed Trade at Wednesday’s Midday

Cotton futures are trading with contracts down 53 points to 3 points higher in the front months. The US dollar index is $0.211 higher at $99.055. Crude oil losses of $6.27 is adding pressure as US and Iran negotiations are reportedly in the final stages. The Cotlook A Index was...

Barchart

Corn Facing Crude Oil Pressure on Wednesday

Corn futures are trading with 10 to 11 cent losses in the front months on Wednesday. The CmdtyView national average Cash Corn price is down 10 3/4 cents to $4.24 1/4. Crude oil losses of $6.27 is adding pressure as US and Iran negotiations are reportedly in the final stages....

Barchart

Iran's threat to Hormuz submarine cables

Iran's Revolutionary Guard Corps has threatened to impose permits on submarine fiber-optic cables passing through the Strait of Hormuz. This move could disrupt global data flow, impacting financial transactions and government communications. While some countries have alternative routes, Qatar, hosting a key cable terminal, faces significant impact. Repairing damaged cables…

The Economic Times

Donald Trump just told struggling Americans to suck up the gas prices. His one-word description of their pain has them wondering whose side he’s on

The man has never filled a tank with gas in his life.

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Evening Standard

M&S in fashion as stocks climb amid fresh hopes of US-Iran peace deal

Investors in London were also digesting better-than-forecast UK inflation figures.

The Independent UK

Bank of England governor says food price freezes are ‘unsustainable’

The Iran conflict has been the ‘dominating change in the landscape’ for the economy, Andrew Bailey said

Evening Standard

We may have cut interest rates twice this year if not for Iran war – Bank chief

Bank of England governor Andrew Bailey told MPs on the Treasury Committee that a rate cut had been taken off the table following the conflict.

The Independent UK

RFK Jr’s daughter-in-law leaves two of her government jobs over Iran war: report

Amaryllis Fox Kennedy previously managed her father-in-law’s presidential campaign

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Barchart

Crude Oil Prices Tumble on Hopes the Iran War Could Soon End

July WTI crude oil (CLN26 ) today is down -4.43 (-4.25%), and July RBOB gasoline (RBN26 ) is down -0.1264 (-3.54%). Crude oil and gasoline prices are falling sharply today on optimism that diplomacy may finally end the Iran war and reopen the Strait of Hormuz. Crude prices remained sharply...

The Independent UK

Bulletin world briefing: Iran threatens to expand conflict and Xi and Putin meeting ends in warning

Here are five of the biggest stories from around the world today

The Times of India

UK quietly eases Russian oil sanctions as petrol prices climb to highest since 2022 amid Iran conflict

Britain is recalibrating its approach to Russian oil imports by introducing restrictions on refined products at a measured pace. This strategy, driven by escalating energy market volatility linked to conflicts in the Middle East and climbing fuel prices, seeks to mitigate the risk of abrupt supply shortages.

Reason

There Was No Delcy Rodríguez in Iran

The Trump administration thought it was repeating the Venezuelan model in Iran—when it was doing something much more ambitious and risky.

International Business Times

Xi And Putin Take On U.S.-Israeli Attacks In Iran, Call For An End To The War With 'Utmost Urgency'

Xi Jinping and Vladimir Putin criticized attacks from the U.S. and Israel against Iran and called for an end to the war with the "utmost urgency."

The Times of India

TACO abroad, boss at home: Trump may be losing against China or Iran, but still controls MAGA

There’s a line to describe Trump’s foreign policy jaunts that’s particularly popular on social media: TACO which stands for Trump Always Chickens Out. And that might be true abroad whether it’s against Iran or China but back home, he remains the ultimate boss. Iran can resist him. Petrol prices can…

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‘Hottest country in the world’: Donald Trump tries to brag about the economy, accidentally admits how Americans actually feel

Truth finds a way.

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Tedros Adhanom Ghebreyesus

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