Port city of Iraq, capital of Basra Governorate, third largest in the country
A passenger bus crashed and burst into flames in Thi Qar province, southern Iraq, killing 21 and injuring 20. Officials say poor road conditions and a shortage of ambulances contributed to the death toll. Iranian nationals are among the dead; several bodies burned beyond recognition.
Three or four covert Iraqi cells, each around 10 fighters, have conducted at least seven drone attacks on Kuwait, Saudi Arabia and the UAE from desert areas near Basra and Samawa between 20 April and 17 May. The groups report directly to Iran's IRGC and operate outside the Islamic Resistance in Iraq, with Baghdad pledging to prevent Iraqi territory from being used for hostile acts.
Ashoura ceremonies proceed across Lebanon and Iran amid ongoing conflict between Israel and Hezbollah, with mourners reflecting on Karbala’s tragedy while areas hit by fighting and ceasefire talks shape observances.
Iraqi Prime Minister Ali al-Zaidi's campaign targets officials accused of embezzlement and corruption. Authorities have detained dozens, with immunity removals enabling more arrests. The operation is expanding to Wasit, Kirkuk and Anbar as the government seeks to recover state funds and lock out faction-linked networks.
Iran has issued a warning through its military command, saying any deviation from designated routes in the Strait of Hormuz will be met with an immediate, forceful response. The statement also says U.S. fighter jets over the strait contribute to regional insecurity amid ongoing talks with the U.S. and allied mediators. Oil transits and prices respond to the latest escalation while negotiations continue.
Khamenei’s coffin nears final burial after a week of funeral ceremonies spanning Iran and Iraq. Najaf and Karbala host large processions; Iran’s deadly regional posture and ties with Iraq underscore the regional flare. The burial will conclude in Mashhad.
Iraq’s prime minister travels to Washington to deepen economic ties as the Strait of Hormuz remains closed and fighting between the US and Iran intensifies. Oil output, IMF talks, and potential US investment are on the table while Iran-backed groups push back against disarmament. Diplomatic prospects hinge on stabilizing energy flows and expanding state control over weapons.
Oil prices have climbed after President Trump announced a 20% shipping fee for cargo through the Strait of Hormuz and a renewed blockade of Iranian ports. Markets fear supply disruptions as global oil volumes tighten amid renewed conflict, with Brent and WTI futures moving higher following a day of volatile trading.
The latest wave of US strikes targets Iran and nearby targets after Tehran closes the Strait of Hormuz; both sides accuse each other of targeting energy infrastructure while global oil prices rise. The fight over Hormuz continues to threaten a broader conflict, with ships moving at reduced capacity through the strait.
The Strait of Hormuz remains a focal point as renewed US and Iranian strikes have disrupted shipping, pushed oil prices higher, and drawn in regional powers. Oil flows through Hormuz have slowed, tanker traffic is volatile, and regional leaders warn of broader conflict.
The Gulf states are accelerating pipeline projects to bypass Hormuz as Iran blocks the Strait, while existing routes face strain. Several major lines are nearing completion, with Fujairah and Yanbu expanding capacity; Iraq and Turkey explore alternative export routes. Analysts warn the shift could alter global oil flows and prices.
Iraq and Turkiye have renewed efforts to cooperate on energy and transport after the expiry of the 1975 oil-export agreement. Turkiye seeks new routes and expanded export capacity, with talks focusing on an energy framework, water management, security, and regional development.
Airstrikes by US and Saudi forces hit PMF sites in Iraq after attacks on Saudi facilities, while Iran-backed groups and regional rivalries threaten Iraq’s new prime minister’s plan to disarm militias and anchor the state. The broader Strait of Hormuz dynamics and Yemen’s Houthis add layers to the conflict, risking wider regional instability.
Energy majors have reported bumper profits as Middle East conflict drives oil and gas prices higher. ExxonMobil, Chevron, and Shell show sharp year‑over‑year gains amid volatile supply routes, while traders warn against overreliance on geopolitics for long‑term gains.
Iraq and Turkey have extended and refreshed arrangements for the Kirkuk-Ceyhan pipeline, aiming to diversify exports and reduce reliance on Hormuz. A one-year extension is set to keep flows through Ceyhan at about 750,000 barrels per day while broader energy cooperation is pursued. Talks include oil, electricity and water resources, with Ankara signaling a longer-term framework.
Kurdistan authorities have reported Iranian-launched drones struck the private office of KRG Prime Minister Masrour Barzani and the residence of the region's security agency chief on 17 August, with no casualties. The attacks come as Baghdad presses for a September 30 deadline to bring armed factions under state control and as cross-border strikes and US-Saudi operations have raised tensions across Iraq.
President Donald Trump has said he will "pretty soon" declare the Strait of Hormuz to be US territory after defeating Iran, and has touted a US naval blockade. Iran has rejected the claim, saying the strait "will only be closed and opened under Iran's command" and has refused to resume talks while the waterway remains blocked. Mediators continue quiet contact.
The United States has warned of an unprecedented financial offensive against Iran, with Treasury officials and the president signaling tighter enforcement of sanctions. Tehran has warned of an "earthquake-like" retaliation and warned Gulf states against joining. Oil markets are watching, as prices fluctuate amid the standoff.