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The Latest Breaking News from Iran

Miners lead Aussie shares higher on peace hopes

Hopes of de-escalating tensions between the US and Iran have lifted investor sentiment, boosting mining stocks as energy and utilities tumble.

AAP

Oil Price Today (May 7): Crude oil reclaims $100, snaps two-day losing streak. Here’s why

Oil prices rebounded on Thursday, recovering from a significant prior fall as investors assessed mixed signals regarding Iran-U.S. relations. While reports suggested a potential agreement to end the conflict, President Trump issued a stark warning of intensified bombing if Iran rejects a peace deal, highlighting the precarious state of negotiations.

The Economic Times

US sows confusion amid Hormuz efforts

The Trump administration's approach to the Iran war has been marked by conflicting statements. Initially, a ceasefire was declared, followed by threats of bombing. The U.S. military protected ships in the Strait of Hormuz. However, the strategy shifted, with the president pausing operations to seek a deal. This inconsistent messaging…

The Economic Times

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Gold steady as markets focus on potential US-Iran peace deal

Gold prices held steady near a one-week high as investors awaited clarity on a potential U.S.-Iran peace deal. While stocks and oil dipped on hopes of an agreement, market participants are now focused on the upcoming U.S. employment report for clues on the Federal Reserve's next move. Fed officials expressed…

The Economic Times

Hopes for reopening the Strait of Hormuz push Asian shares higher, as oil prices hold above $100

Asian shares are sharply higher and the price of crude oil was holding above $100 a barrel as investors bet on hopes the U.S. and Iran will strike a deal allowing tankers to deliver crude from the Persian Gulf again

The Independent UK

Trump news at a glance: US fires on Iranian-flagged tanker as president fires off post threatening more bombing

Trump warned Tehran to agree to deal or face attacks ‘at a much higher level and intensity’ than before – key US politics stories from 6 May 2026 at a glance

The Guardian - US

Think tank calls for lower speed limits and energy caps to offset Iran war fallout

IN FULL

The Independent UK

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DHS says it may have an alleged motive for the attack during the White House Correspondents’ Dinner

Shooting suspect Cole Thomas Allen allegedly criticized the Iran war before the attack on the Correspondents’ Dinner

The Independent UK

'Tell The Truth!': Pope Leo XIV Rejects Donald Trump's Claim He Supports Nuclear Iran

Pope Leo XIV has rejected Donald Trump's claim that he is 'endangering Catholics' by backing a nuclear‑armed Iran, insisting the Church has always opposed nuclear weapons, as US Secretary of State Marco Rubio arrives in Rome for tense Vatican talks on Iran and US policy.

International Business Times UK

Lower speed limits could help stop Iran war damaging UK economy, think tank says

Inflation could soar and conflict in the Middle East could cost the Treasury £8bn a year, new modelling indicates

The Independent UK

Trump Warns $200–$250 Oil Prices Are 'Worth It' If It Means Halting Iran Nuclear Threat

President Trump is willing to accept economic disruptions, including high oil prices and stock market declines, to prevent Iran from acquiring nuclear weapons, emphasizing security over financial stability.

International Business Times UK

Cotton Pulls Off Early Lows, Still Closes Lower on Wednesday

Cotton futures closed the Wednesday session with contracts down 31 to 75 points. The US dollar index was $0.420 lower at $97.890. Crude oil was down $6.06 on the day following the US and Iran closing in on reaching a memorandum of understanding that would, among other things, allow for...

Barchart

‘Sharks with laser beams’: The Joint Chiefs chairman just responded to Iran’s kamikaze dolphin reports with an Austin Powers quote

Just when you thought you’d heard it all.

We Got This Covered

Fertiliser shortages to have dramatic effect on food prices, says Duke of Westminster’s firm

Mark Preston, of Grosvenor Group, who owns one of the UK’s leading farms, says knock-on effect of Iran war could arrive next year

The Guardian - UK

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The Independent UK

Kraft Heinz’s new CEO wants food giant to focus on value: ‘Consumers are literally running out of money’

Steve Cahillane warned that new global conflicts like the war in Iran could fuel more inflation, at a time when past price increases have already hurt grocery sales

The Guardian - AU

Morning Mail: Coalition’s ‘roadmap’ to slash immigration leaked, Trump’s new threat to Iran, Ted Turner dies

US president says Tehran must accept a deal or face a new wave of bombing

The Independent UK

US attacks Iranian ship after ‘failing to comply with blockade warnings’

IN FULL

Barchart

Stock Surge on Robust Tech Earnings and US-Iran Peace Hopes

The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed up +1.46%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +1.24%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +2.08%. June E-mini S&P futures (ESM26 ) rose +1.45%, and June E-mini Nasdaq futures...

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International Business Times UK

Trump Cover-Up Allegations Erupt as Satellite Images Show Massive Iran War Damage

A report suggests the Trump administration may have downplayed the extent of damage from Iranian strikes on US bases, raising transparency concerns.

The Independent UK

Trump leans on UFC fighter to support his Iran war stance: ‘We’re in good shape’

The president turned to fighter Justin Gaethje for his opinion on the state of the U.S. war with Iran during a hastily announced Oval Office setup to promote Trump’s June 14 ‘UFC Freedom 250’ birthday event on the South Lawn

Axios

Trump optimistic as U.S. awaits Iran's response to peace framework

U.S. officials said they expect a response from Tehran in the next 24-48 hours.

Kiplinger

Nasdaq Jumps to New High on AMD Earnings: Stock Market Today

Advanced Micro Devices was the latest chip stock to hit a home run with earnings.

The Independent UK

Trump calls Iran war a ‘skirmish’ during Melania’s Mother’s Day military tribute

IN FULL

Barchart

Hopes for an Imminent End to the US-Iran War Weigh on the Dollar

The dollar index (DXY00 ) fell to a 2.5-month low on Wednesday and finished down by -0.45%. Optimism that a peace deal between the US and Iran is imminent weighed on safe-haven demand for the dollar on Wednesday. Also, Wednesday's -7% plunge in crude oil prices eases inflation expectations and...

Evening Standard

Trump says ‘bombing starts’ if Iran fails to reach deal, amid UK jobs warning

The US president insists the conflict is ‘going very smoothly’ despite the global economic shock and spike in petrol prices.

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