City and governorate in Medina Province, Saudi Arabia, a Red Sea port and industrial hub
President Donald Trump has said he has paused planned strikes on Iran and that negotiators are working on a deal to reopen the Strait of Hormuz and address Iran's nuclear programme. US officials, Qatar and regional partners are involved in talks; Iran denies direct negotiations with Washington. Shipping attacks and strikes continue to threaten energy routes.
The US and Saudi strikes inside Iraq target PMF sites after alleged drone attacks on Saudi energy infrastructure. Iraq’s prime minister faces pressure to rein in militias and align with a peaceful foreign policy while regional powers weigh escalating involvement.
The Red Sea shipping route faces disruption as Houthi threats widen the risk to Israeli-linked vessels amid Iran’s ongoing closure of the Strait of Hormuz. Saudi Arabia diverts crude to Yanbu, while energy markets react to escalation in the region.
Saudi Arabia has resumed Gulf crude loadings and appears to be clearing a pre-war backlog, with several tankers exiting the Strait of Hormuz as tensions with the US and Iran simmer. Aramco is ramping up exports to Asia, and market pricing is shifting as shipments resume from Ras Tanura.
Vessel transits through the Strait of Hormuz have risen this week amid shifting navigation guidance and ongoing tensions between Iran, the U.S., and Oman. Observers report mixed routes with a northern Iranian corridor and a southern Omani corridor, while the broader risk to shipping remains elevated.
Oil prices have fallen back as flows resume through the Strait of Hormuz, with Brent near pre-war levels and traders citing improved supply and easing demand concerns amid China’s reduced imports. Markets warn the rally could resume if security holds and demand rebounds.
Yemen's Houthi movement has declared an immediate maritime embargo against Saudi Arabia, saying it will close the Bab al‑Mandab to Saudi vessels in retaliation for a reported Saudi blockade of Houthi ports and last week's strikes on Sanaa airport. The announcement has raised fears of renewed attacks on Red Sea shipping and wider disruption to oil routes that already bypass the Strait of Hormuz.
The United Arab Emirates is pursuing a new port and container terminal on Fujairah’s east coast to reduce dependence on Jebel Ali and avoid the Strait of Hormuz. DP World is in talks to develop the site, with plans for a new multipurpose port and a terminal at the existing harbour, amid ongoing clashes linked to Iran’s attacks and U.S. and Israeli actions. Experts say the move signals a push for regional resilience as shipping routes face disruption.
Yemen’s Houthis have escalated tensions by declaring a maritime blockade against Saudi Arabia in response to attacks on Sanaa airport. The move follows recent strikes and missile exchanges with Saudi forces, risking a broader regional confrontation that could disrupt global oil flows via the Bab al-Mandeb Strait.
The Islamic Republic has discussed a possible move with its Houthi allies, and Tehran has informed the group recently. The Houthis are said to be prepared to act near Bab al-Mandeb, risking disruptions to Red Sea shipping and adding pressure to global energy markets as tensions with the United States escalate.
Drones and missiles target Saudi energy infrastructure amid a broader surge in US-Iran hostilities. Riyadh says the attacks were launched from Iraqi territory by Iran-backed militias; Iraqi authorities condemn the strikes while Yemen’s Houthis claim to have attacked Saudi shipping. The lull in fighting is punctuated by new strikes across the region as mediators push for talks.
Oil benchmarks have fallen sharply after US President Donald Trump has said he called off planned strikes on Iran and reported that talks to reopen the Strait of Hormuz will begin. Brent has dropped from above $100 to about $83 and US crude has fallen below $80, while markets and bond yields are reacting to lower geopolitical risk premiums.
The Iran-aligned Houthis have declared an immediate maritime embargo against Saudi ships at Bab el-Mandeb, citing what they call an oppressive siege on Yemen. The move threatens Red Sea navigation and Saudi oil exports, as ships reroute and insurers weigh risks. The threat comes amid rising regional tensions and recent attacks along major shipping routes.
Netanyahu has met with Trump at the White House for discussions on Iran’s nuclear ambitions amid ongoing US-Israeli hostilities. Talks aim to coordinate strategy on Iran, with emphasis on preventing nuclear development and managing wider regional tensions. The week features high-stakes diplomacy and looming electoral tests in both countries.
The Houthis have declared a maritime blockade of Saudi Arabia, drawing new attacks and causing vessels to reroute through the Red Sea. Oil prices are rising as ships alter course to avoid Bab el-Mandeb and Hormuz chokepoints, with implications for global trade.
The conflict between Iran and its regional rivals has intensified. Iran-backed forces have attacked shipping, while the United States and allies respond with strikes and warnings. The Strait of Hormuz remains a flashpoint as Qatar and Gulf states report disruptions alongside rising global energy concerns.
Brent crude has fallen about 8–9% to below $88–$92 a barrel after prices briefly topped $100 last week. The drop follows pauses in US–Iran strikes and reports that both sides have halted attacks to allow diplomacy. Markets remain volatile because shipping through the Strait of Hormuz and the Red Sea is still disrupted and analysts warn supply risks and inflationary pressure persist.
Yemen’s Houthi forces have declared a naval blockade on Saudi ports and have claimed missile, cruise missile and drone strikes on two Saudi oil tankers, Encelia (also reported as Encelia/Encela) and Layla, in the Red Sea. Saudi and maritime agencies have reported a fire aboard one tanker; US Central Command has carried out additional strikes on Iranian targets as regional attacks intensify.
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.
The Red Sea region has seen renewed tensions as the Houthi movement threatens to impose tolls on ships transiting Bab al-Mandeb, while a Saudi-led maritime coalition works to secure freedom of navigation. The dispute has sent oil prices higher and drawn in multiple international actors amid ongoing US-Iran confrontations.
The conflict in the Middle East is intensifying as Yemen's Houthi rebels claim missile strikes on Saudi targets, prompting responses from Saudi-led forces and US officials. Washington is weighing strikes on Iran as the region sees a widening front, with naval blockades and interceptions shaping an increasingly volatile Red Sea corridor.
The United States has paused nightly airstrikes on Iran and Tehran has halted retaliatory attacks for at least two days while mediators from Qatar, Pakistan and Oman exchange messages. Advisers warned President Donald Trump that continued strikes risked depleting munitions and running out of targets; oil prices have fallen as markets price the lull.
The Houthis have declared a maritime blockade against Saudi Arabia, citing an eye-for-an-eye logic after Sanaa airport was attacked. The move threatens Red Sea shipping, while tensions draw in the US and Iran amid broader regional pivot in energy routes. Analysts warn of renewed conflict and humanitarian risk as oil flows face disruption.
Tensions in the Red Sea have intensified as Houthis escalate maritime attacks and a blockade against Saudi-linked shipping. Attacks target vessels, widen regional confrontation, and threaten global energy routes amid ongoing US-Iran tensions.
Tensions between the Yemeni government and Houthi rebels have intensified, with the Houthis threatening a maritime blockade and both sides exchanging fire near Hodeidah. Afrah al-Zouba has warned the Houthis may copy Iranian strategies in Hormuz to control Red Sea access, raising the risk to global shipping.
The Iran-aligned Houthis have declared a maritime embargo against Saudi Arabia, with talks of charging fees for traffic through Bab el-Mandeb. Chinese ships would be exempt. International navies face stretched capacity as Gulf trade risks grow.
A drone has struck two gas vessels at Egypt's Damietta port, igniting fires that spread between the US‑owned floating storage and regasification unit Energos Winter and the Greek‑owned LNG tanker GasLog Salem. Crews have extinguished the blazes, no casualties have been reported, and Egyptian authorities have opened a forensic investigation amid rising regional attacks on energy infrastructure.
The US has completed a two-hour "heavy wave" of strikes across Iran, hitting Revolutionary Guard command centres, missile and drone facilities and coastal surveillance sites after Tehran fired ballistic missiles at US forces. Iran has launched retaliatory drone and missile strikes on US assets and allied facilities in the region; Jordan reported intercepting missiles with no casualties.
Saudi Arabia and 14 allied states have formed a multinational maritime defense coalition to safeguard navigation around Bab el-Mandeb and the Red Sea. The move comes amid Houthi attacks and a looming blockade, with participants inviting dozens of countries to join as the Iran war broadens in the Gulf.
Developing reports indicate US officials say talks with Iran and Oman are advancing on a potential mechanism to reopen the Strait of Hormuz, with energy prices expected to stabilize as ships await passage. Officials warn the final terms remain unsettled as negotiations continue.
Major oil groups have reported multi-billion-dollar profits in the second quarter as conflict-driven supply disruptions and high fuel prices boost earnings. Aramco, BP, ExxonMobil and Chevron have posted strong results, while leaders criticize windfall profits and call for policy action. Markets remain volatile amid shifts in export routes and regional tensions.