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The Latest Breaking News from Middle East

The Australia-US alliance is facing a decisive test, and not just over the Middle East

The question of Australia joining the US in a conflict with China over Taiwan looms over the debate about our military preparedness and defence spending

The Guardian - AU

Meet General ‘Gorilla’: Iran hawk has become Hegseth’s go-to adviser as US involvement in Middle East crisis intensifies

‘He’s got the look of the general that both Hegseth and Trump are looking for,’ one former official said

The Independent UK

Will the new Middle East crisis rock the world economy? The markets say no – but I fear they’re wrong

The oil shocks of the 1970s-90s had brutal economic impacts. As Israel attacks Iran, a moderate rise in oil prices rests on questionable assumptions, says Guardian columnist Larry Elliott

The Guardian - UK

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Politics with Michelle Grattan: an ‘impatient’ Jim Chalmers on taking political risks in Labor’s second term

While the world’s media is largely focused on conflict in the Middle East, the focus for many Australians remains at home, with the government preparing the long task ahead of trying to lift Australia’s productivity.

The Conversation

G7 ends without joint stance on Ukraine as Middle East crisis dominates

The G7 summit in Canada ended without a joint statement on Ukraine, as growing fears of a wider conflict between Israel and Iran dominated talks and led to US President Donald Trump’s early departure.

Radio France Internationale

Wednesday briefing: How Trump’s unpredictability is shaping the Middle East crisis

In today’s newsletter: As Israel escalates its offensive and Tehran weighs its response, the US president appears to be paving the way for military action

The Guardian - UK

G7 leaders fail to reach major agreements on key global issues after Trump's early departure

The summit concluded with a broadly worded statement in which leaders of the G7 unanimously agreed that Iran cannot be allowed to obtain a nuclear weapon and called for de-escalation in the Middle East.

Euronews

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Grains, Unrest, & Gold: What Middle East Tensions Mean for Your Portfolio Now

Darin Newsom discusses mixed grain and livestock markets, attributing crude oil support to Middle East tensions and explaining gold's rally due to global distrust in the U.S. dollar, while noting financial indices appear toppy and grain markets remain range-bound due to ample supply and a lack of significant weather issues,…

Barchart

This Pizza Tracker Has Predicted 21 World Crises. Is It Now Pointing to WWIII?

Ever noticed how suddenly Pentagon-area pizzas seem to multiply during global turmoil? Legend has it the Pentagon Pizza Index has signaled every major crisis since the Cold War—21 times—so could this recent uptick truly be forecasting WWIII? When delivery data shows surging pizza orders to the Defense Department, people online…

Grocery Coupon Guide

Dollar Rallies as Middle East Tensions Intensify and Stocks Fall

The dollar index (DXY00 ) Tuesday rose by +0.83%. The dollar moved higher on Tuesday on an increase in liquidity demand for the dollar as stocks fell after President Trump downplayed the chance of an early end to the Israel-Iran war and said he wants "unconditional surrender" from Iran. Gains...

Barchart

Crude Prices Surge as Middle East Tensions Escalate

July WTI crude oil (CLN25 ) Tuesday closed up +3.07 (+4.28%), and July RBOB gasoline (RBN25 ) closed up +0.0520 (+2.34%). Crude oil prices rallied sharply on Tuesday on the increase in Middle East tensions after President Trump downplayed the prospects for an early end to the Israel-Iran war. President...

Barchart

Intense military aircraft movement signals rapid build-up of US striking capabilities in Middle East

US military movements in the Mediterranean suggest Washington may join Israel in strikes on Iran. Trump warned Tehran residents to evacuate, signaling a shift from negotiation to potential military action.

Euronews

Crude Prices Climb as Prospects Dim for an Early End to Israel-Iran War

July WTI crude oil (CLN25 ) today is up +1.88 (+2.62%), and July RBOB gasoline (RBN25 ) is up +0.0286 (+1.29%). Crude oil prices are sharply higher today on the increase in Middle East tensions after President Trump downplayed the prospects for an early end to the Israel-Iran war. Today's...

Barchart

Starmer: US not poised to intervene in Middle East conflict

The Prime Minsiter said ‘nothing’ he had heard from the US president suggested Washington was poised to get involved.

The Independent UK

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The Independent UK

Foreign governments seek emergency exits for nationals stranded in Iran and Israel

The Iran-Israel conflict has shuttered airspace across the Middle East as the two bitter enemies launch attacks and reprisals at one another

The Independent UK

US Air Force shifts military planes to Europe to ‘provide options’ as Iran crisis heats up

At least 30 aerial refueling aircraft spotted crossing Atlantic as Middle East tensions explode

Euronews

US action against Iran would fuel 'broader conflict' in the Middle East, Kallas warns

Kaja Kallas has spoken against the idea of the United States direct involvement in the military escalation between Israel and Iran.

Radio France Internationale

What impact could the Iran-Israel conflict have on the African continent?

The Middle East is bracing for another protracted conflict after Israel's surprise bombardment on Friday of Iranian nuclear and military sites killed several of the country's top generals and nuclear scientists. Iran has responded with strikes on Israel. As the situation escalates, there are concerns about the global impact. RFI…

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The Guardian - UK

The Phoenician Scheme is fantasy. It is also a remarkable engagement with the real-life conflict in the Middle East

Sharp edges of bitter history keep jutting through Wes Anderson’s whimsical intrigues that turn international tragedy into light comedy

The Guardian - UK

Trump claims EU is not offering a fair trade deal; Reeves pitches UK as ‘oasis of stability’; oil climbs as shares fall – as it happened

Rolling coverage of the latest economic and financial news

The Conversation

The Middle East is a major flight hub. How do airlines keep passengers safe during conflict?

The Middle East is a region of intense beauty and ancient kingdoms. It has also repeatedly endured periods of geopolitical instability over many centuries.

The Guardian - AU

Trump demands Iran’s ‘unconditional surrender’ – as it happened

The Israeli strikes came after the IDF issued a warning for an area of Tehran’ US president says Ayatollah Khamenei is ‘easy target’

The Independent UK

Fears Trump will veto G7 joint statement on Russia sanctions and Israel

The G7 countries are planning on discussing a new package of sanctions against Russia and a joint approach to the Israel/ Iran Middle East crisis but it appears Trump is preparing to reject the proposals

Evening Standard

Stocks up on hopes of thaw to Middle East tension

The FTSE 100 index closed up 24.59 points, 0.3%, at 8,875.22, just shy of its record closing peak of 8,884.92 posted last Thursday.

The Guardian - AU

Middle East crisis risks igniting inflation. Here are the markets to watch out for in Australia

Interest rate cuts still likely, experts say, but oil and gold prices are up and the share market is likely to remain volatile

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