Oil exports from the Persian Gulf have largely recovered to their 2025 average levels, but oil prices remain stubbornly high. On Thursday, international benchmark Brent crude oil futures were trading around $97 a barrel after surging during the Iran war, when attacks on energy infrastructure and fears of disruption to shipping through the Strait of
It’s been a busy week for Iranian diplomacy that may have come to nothing. Iran’s president and foreign minister visited New York for the U.N. gathering of world leaders and proposed a deal with the Trump administration that would end the fighting and open the Strait of Hormuz in seven days. That’s if the U.S.
Iranian Foreign Minister Abbas Araghchi says his country has proposed a deal to the US that would see the Strait of Hormuz reopened within a week. Araghchi told reporters at the UN in New York that this could be done “if the necessary conditions are met” and said these were contained within the memorandum of
UNITED NATIONS — Yemen’s internationally recognized government pressed world leaders anew Thursday for help defeating the Iran-backed Houthi rebels, saying that their new perch along one of the world’s busiest waterways presents an international economic risk. The Houthis — who have controlled Yemen’s capital, Sanaa, and much of the country’s north for over a decade
Thousands of refugees have fled Yemen in recent days after Iran-backed Houthis seized territory along the country’s Red Sea coastline, including near the Bab al-Mandab Strait. Yemen has been devastated by a civil war that began in 2014, when the Houthis ousted the government from the capital, Sanaa. The conflict escalated in 2015, after a
The 2026 economy has created a new throng of one-day millionaires, businesses raking in seven-figure sums in 24 hours or less. That includes teams at AI frontier labs like Anthropic, who are seeing monthly revenue top $500 million from just a single client’s Claude spending, one consultancy reported. That’s nearly $17 million per day. Outside
