Day 60 of Iran War: Trump Team Reviews Iran Proposal; UAE Quits OPEC

US President Donald Trump’s national security team is reviewing an Iranian peace proposal as negotiations with Tehran remain deadlocked.

Iran has suggested deferring nuclear talks until the war ends and disputes over Gulf shipping are resolved, an approach opposed by Trump.

Oil prices extended gains on Tuesday as traffic through the Strait of Hormuz remained sharply constrained, with only a small number of vessels transiting and some tankers turned back.

Dozens of countries have called for the “urgent and unimpeded reopening” of the vital waterway, which carries roughly one-fifth of global oil supply...

Day 59 of Iran War: Trump Floats Phone-Based Negotiations; Hormuz Traffic Stays Low

Iran has intensified diplomatic efforts to end the war with the United States, with Foreign Minister Abbas Araghchi traveling to Russia today.

Araghchi is expected to meet President Vladimir Putin, with talks set to focus on bilateral relations and broader regional developments, including the US-Israel war on Iran.

US President Donald Trump said Iran could begin negotiations by phone if it wants to end the two-month war. Key sticking points remain Iran’s nuclear program and access to the Strait of Hormuz, which Iran effectively...

Day 54 of Iran War: Ceasefire Extended as US Maintains Naval Blockade

US President Donald Trump extended the Iran ceasefire to allow more time for Tehran to submit a proposal and for negotiations to continue, while keeping a US naval blockade on Iranian ports in place. Iran called the blockade a violation of the truce and said it would not negotiate under pressure.

Tensions remain high across the region, with continued violence in the West Bank and southern Lebanon despite ceasefires.  Shipping through the Strait of Hormuz remains severely constrained, heightening concerns over global oil supplies, as both sides blame...

Day 49 of Iran War: Oil Slumps as Iran Opens Hormuz; Lebanon Ceasefire Fuels Hopes of Wider Deal

With a 10-day ceasefire in Lebanon taking effect, Iran’s Foreign Minister Abbas Araghchi said the Strait of Hormuz is open to all commercial vessels for the duration of the truce, Reuters reported.

US President Donald Trump said a broader deal to end the war involving Iran is “very close,” with another round of negotiations potentially taking place this weekend in Islamabad. 

Despite signs of progress, significant hurdles remain as key differences persist, leaving both sides preparing for either a diplomatic breakthrough...

Day 48 of Iran War: Pakistan Steps Up Mediation as US-Iran Talks Gain Momentum

Efforts to revive negotiations between the United States and Iran are gaining momentum, with Pakistan acting again as an intermediary. 

The renewed diplomatic push comes against a backdrop of escalating tensions. Iran has warned it may broaden its response to a US naval blockade beyond its territorial waters.

Meanwhile, divisions persist in Washington, where the US Senate has rejected a measure that sought to curb the war without congressional approval.

The economic fallout from the war could deepen global food insecurity, with millions more at...

Day 45 of Iran War: Oil Prices Surge Above $100 as US Tightens Control Over Iranian Gulf 

The United States said it will begin blockading all Iranian Gulf ports at 10 a.m. ET on Monday, tightening control over shipping in the Strait of Hormuz after talks with Iran over the weekend ended without agreement.

US President Trump indicated that US forces would intercept vessels in international waters that had paid what he described as illegal tolls to Iran.

Iran condemned the move as “piracy” and warned it could retaliate against Gulf ports, signaling escalating tensions with no quick reopening of the...

Day 38 of Iran War: Trump Deadline Looms as Strait of Hormuz Tensions Escalate

Tensions are escalating as the 8 p.m. ET deadline on Tuesday, April 7, set by US President Donald Trump for Iran to reopen the Strait of Hormuz, approaches, with the looming possibility of US strikes on key infrastructure intensifying the standoff.

In a post on Truth Social on Sunday, Trump threatened to target Iran’s civilian infrastructure if the strait is not reopened.

“Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open...

Day 35 of Iran War: US, Israel Expand Strikes on Iran as Washington Ramps Up Pressure

The United States and Israel have expanded their attacks on Iran as Washington intensifies pressure on the Iranian government.

US President Donald Trump has stepped up his rhetoric, warning that the US military “hasn’t even started” targeting key infrastructure and threatening to intensify its bombing of Iran if it does not agree to Washington’s terms.

Pakistan said it would continue efforts to push Washington and Tehran towards ending the war, though it acknowledged “obstacles” to peace...

Joint Statement by the International Energy Agency, International Monetary Fund, & World Bank Group

The Heads of the International Energy Agency, International Monetary Fund, and World Bank Group have agreed to form a coordination group to maximize their institutions’ response to the energy and economic impacts of the war in the Middle East. They issued the following joint statement:

The Middle East war has caused major disruptions to lives and livelihoods in the region and triggered one of the largest supply shortages in global energy market history. The impact is substantial, global, and highly asymmetric, disproportionately affecting energy importers, in particular...

Import Cargo Volume Expected to Be Down in First Half of 2026, But Too Soon to Tell Impact from Iran

Imports at major U.S. container ports are expected to remain below last year’s levels for the first half of 2026 amid ongoing tariff uncertainty, but it is too soon to gauge the impact of the conflict in Iran, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“The Supreme Court has struck down IEEPA tariffs but other tariffs have already been announced and others will be coming, so uncertainty continues for retailers...

The Global Dairy Market Unpacked: Pricing, Production & Trade Trends

The dairy sector remains a cornerstone of the agricultural economies in the United States and the European Union. These regions make up 44.7% of global dairy milk production, dairy exports, and innovation in value-added products.

In 2024, the dairy market faced a series of complex challenges that tested its resilience and adaptability. Geopolitical tensions, climate-related disruptions, evolving trade policies, disease outbreaks, and shifting consumer preferences placed pressure on producers and processors alike. Additionally, inflation and global supply chain disruptions impacted trade flows and pricing stability...