U.S. President Donald Trump said a deal to reopen the Strait of Hormuz could come as early as Wednesday, as Iran and Oman inched toward an agreement on the critical waterway that could ease pressure on the global economy and potentially help bring an end to the war. The U.S., along with Israel, launched the war on Feb. 28,
Oil prices fell to a three-week low on Tuesday as senior US officials raised hopes of a deal with Iran to reopen the key Strait of Hormuz waterway. US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent both announced talks had progressed to allow shipments to potentially resume as soon as this week.
A fresh risk-on rally pushed stocks to records on Tuesday. US stocks have clawed their way back to records after a volatile rotation in the AI trade sent investors on a roller coaster ride in July. The Dow Jones Industrial Average and S&P 500 broke through to new highs as traders were encouraged by Treasury
Thank you for subscribing to Fortune Gulf Brief and joining our community. Given the significant news flow from the Gulf early in the week, going forward, we’re moving the newsletter from Tuesday to Wednesday to give you a fuller picture of the trends and stories that matter. Fortune Exclusive: The inside track on the UN-backed plan to reopen
U.S. President Donald Trump said Sunday he decided to hold off on ordering American forces to carry out new strikes against Iran at the urging of Gulf allies Qatar, Saudi Arabia and United Arab Emirates. The U.S. president added that a plan was in place for U.S. forces to carry out “the biggest attack since World War II” on
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