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The Latest Breaking News from Middle East

Trickle-down impacts of Middle East war, from pistachios, to copper, to leather

As oil prices surge and key shipping routes close because of the war in the Middle East, the downstream effects are impacting different markets around the world, from pistachios and bananas to luxury leather goods, as industries are being forced to adapt to disrupted supply chains and increased costs.

Radio France Internationale

Cheap spirits, pricey condoms: how war in the Middle East is shifting the way Australians spend

Beyond cutting back on driving, households are slicing deeper into their budgets, with some even forgoing healthcare

The Guardian - AU

The great energy pivot: US oil and Chinese solar are the winners in Trump’s war on Iran

Exposure of world’s reliance on Middle East supplies accelerates global shift towards new energy superpowers

The Guardian - UK

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More Shocking Photos From USS Lincoln Reveal Single Meat Patties and Sparse Trays as Sailors Report Losing Weight Amid War in Middle East

Reports of food shortages on US Navy ships, including USS Abraham Lincoln, have surfaced despite Pentagon denials. Sailors and families have shared images and testimonies of sparse meals and delayed care packages.

International Business Times UK

EU considers helping with Mideast energy infrastructure to bypass conflict zones

Top European Union officials say the bloc is looking into funding alternative energy infrastructure in the Middle East that would circumvent conflict hot spots like the Strait of Hormuz

The Independent UK

EU leaders vow to boost security and economic ties with Middle East to minimise effect of Iran war

Leaders from Lebanon, Egypt, Syria and Jordan as well as the secretary general of the Gulf Cooperation Council, were in Nicosia to meet their European Union counterparts on the sidelines of an EU summit.

Euronews

War in the Middle East is stressing Europe's hard-learned lessons about fossil fuel dependency from 2022

It’s Europe’s second major energy crisis in just four years. The continent’s reliance on fuel imports is the common thread.

Fortune

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Cyprus: How the Iran war is shaping Europe’s closest frontier to the conflict

On 1 March, an Iranian-made Shahed drone launched from Lebanon hit the British airbase of Akrotiri in Cyprus, bringing the Iran war unexpectedly closer to Europe. This report explores the tensions shaping the European Union’s closest frontier to the conflict.

Euronews

Nasdaq Futures Rally on Upbeat Intel Earnings and Iran Talks Optimism

June Nasdaq 100 E-Mini futures (NQM26) are trending up +1.33% this morning as strong quarterly results and guidance from chipmaker Intel, along with optimism over potential U.S.-Iran talks, boosted sentiment.

Barchart

US envoy and Trump’s son-in-law to travel to Pakistan amid hopes for renewed Iran peace talks – as it happened

Steve Witkoff and Jared Kushner to travel to Pakistan, White House says; Iranian state media says foreign minister Abbas Araqchi traveling to Islamabad, Muscat and Moscow

The Guardian - AU

ASX logs second week of losses as banks, miners weigh

With no end in sight to the Middle East conflict, investor confidence is fading as soaring energy prices and inflation expectations hammer risk sentiment.

AAP

EU formally approves €90bn Ukraine loan and 20th sanctions package against Russia

Ursula von der Leyen hails ‘good news’ after Hungary’s lifting of vetoes allows leaders to sign off on agreements

The Guardian - UK

Fallout from Iran war is ‘major new threat to foreign aid’

There are growing concerns that the economic fallout from the current conflict in the Middle East will push Gulf nations – who collectively provided more humanitarian aid than the US last year – turning away from foreign assistance

The Independent UK

'Tell Putin to stop': Zelenskyy calls on 'big players' Donald Trump, PM Modi and Xi Jinping to put pressure on Russia

Ukrainian President Zelenskyy urged global leaders, including PM Modi, to pressure Putin to end the war, stating mediation alone is insufficient. He emphasized unified international action over compromise. Meanwhile, Ukraine is bolstering defence ties in the Middle East, signing drone cooperation agreements with Saudi Arabia, Qatar, and the UAE.

The Times of India

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The Conversation

Airlines are facing higher fuel costs and cutting fares at the same time. How does that work?

Trying to book a flight right now can feel absurd. Qantas and Virgin Australia are warning that higher fuel costs and disruption linked to the Middle East conflict are putting pressure on fares and forcing capacity cuts.

The Guardian - AU

US forces board vessel in Indian Ocean – as it happened

This blog is now closed

The Independent UK

Voices: As Trump blinks first on Iran, a glimmer of hope emerges for peace in the Middle East

THE INDEPENDENT VIEW: Editorial: Pressure from China and hostile public opinion at home should concentrate Maga Republican minds and push the president towards jaw-jaw rather than war-war

The Independent UK

How organised gangs are stealing fuel as petrol prices surge

Organised gangs are increasingly stealing petrol and diesel from forecourts by filling large plastic containers hidden in vans, with the stolen fuel believed to be resold on the black market. Forecourt Eye reported a significant surge in fuel theft, with incidents increasing by 13% and the volume of fuel stolen…

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Barchart

S&P Futures Climb as Investors Cheer U.S.-Iran Ceasefire Extension, Tesla Earnings in Focus

June S&P 500 E-Mini futures (ESM26) are trending up +0.56% this morning as sentiment improved after U.S. President Donald Trump indefinitely extended the ceasefire with Iran.

Evening Standard

Shoe Zone set to slump to loss as it warns over Iran war hit to trading

The retailer said the Middle East conflict was partly to blame for lower shopper confidence and is also pushing up costs.

The Guardian - AU

Erdogan says Iran war ‘starting to weaken Europe’ – as it happened

This blog is now closed

Fortune

Halliburton CEO: U.S. oil rebound enters ‘early innings’ as Iran war triggers long-lasting global push for energy outside the Middle East

The smaller U.S. producers are the first movers bringing new oil wells online.

International Business Times UK

When Will Gas Prices Go Down? Experts Warn Relief May Take Months

US petrol prices remain high due to geopolitical tensions and supply concerns. Analysts predict gradual relief as market conditions stabilize.

International Business Times

KOSPI Soars to Record 6388 as Semiconductor Rally Defies Middle East Tensions

Gains were led by heavyweight technology names, particularly memory chip giants. SK Hynix soared more than 5 percent to top 1.2 million won per share for the first time, hitting the symbolic "1.2 million nix" milestone.

International Business Times

Oil Prices Ease to $94 as US-Iran Talks Offer Hope but Hormuz Risks Linger

World oil prices slipped modestly Tuesday amid tentative optimism over U.S.-Iran diplomatic efforts, with Brent crude hovering near $94.70 per barrel as traders weighed mixed signals from the Middle East against lingering threats to global energy supplies.

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