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  • What does the US-Iran deal mean for oil prices and the world economy? | VIDEO: Monday Finance wit…

    What does the US-Iran deal mean for oil prices and the world economy? | VIDEO: Monday Finance wit…

    Explore the latest developments concerning What does the.

    What does the US-Iran deal mean for oil prices and the world economy?

    More than three months after the US and Israel first began their war with Iran, the White House and the Iranian regime have agreed a framework deal to bring about a more long-term end to hostilities.

    The Middle East crisis sent global oil prices soaring as the conflict effectively closed one of the world's key water transport routes for oil, liquid natural gas and other essential commodities, limiting global supplies.

    But experts warn a return to normal shipping through the Strait of Hormuz will take time, and the impact of the war will continue to affect the global economy for potentially months to come.

    VIDEO: Monday Finance with Alan Kohler

    The share market rose today, and the price of oil dropped after the announcement of a ceasefire agreement between The United States and Iran. Alan Kohler has more.

    The share market rose today, and the price of oil dropped after the announcement of a ceasefire agreement between The United States and Iran. Alan Kohler has more.

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  • Live: Australian dollar rises on US-Iran deal, ASX to lift | ASX 200 LIVE: ASX to gain, oil falls…

    Live: Australian dollar rises on US-Iran deal, ASX to lift | ASX 200 LIVE: ASX to gain, oil falls…

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    Live: Australian dollar rises on US-Iran deal, ASX to lift

    The Australian dollar is rising after Donald Trump confirmed a peace deal has been reached with Iran, saying the Strait of Hormuz will open.

    The ASX looks set to join the rally when markets open this morning, ahead of tomorrow's RBA rates decision.

    Follow the day's financial news and insights from our specialist business reporters on our live blog.

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    A peace deal between Iran and the US and further easing in the oil price is expected to drive equity markets higher and take the pressure off major central banks from raising interest rates when they meet this week.

    On Monday, Iran confirmed it agreed to a deal with the US to reopen the Strait of Hormuz, and would officially sign the memorandum of understanding on June 19 in Switzerland. “The Deal with the Islamic Republic of Iran is now complete,” US President Donald Trump posted on social media.

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  • US and Iran inch closer to peace deal as Trump faces criticism from GOP hawks | Live coverage: Tr…

    US and Iran inch closer to peace deal as Trump faces criticism from GOP hawks | Live coverage: Tr…

    Explore the latest developments concerning US and Iran.

    US and Iran inch closer to peace deal as Trump faces criticism from GOP hawks

    American president says he is not rushing into a deal after proposed plan to end war prompts Republican backlash

    Donald Trump defended himself against criticism from fellow Republicans on Sunday as he appeared on the verge of agreeing a deal with Iran to end the war.

    As hawks in his party called the proposed agreement a disaster and questioned why the US president had launched the conflict in the first place, Trump claimed on social media that his deal would be “THE EXACT OPPOSITE” of the one agreed by Barack Obama, which Trump pulled out of in 2018.

    He added that he was not rushing into a deal, saying “both sides must take their time to get it right … There can be no mistakes!”

    Live coverage: Trump’s tentative Iran deal faces GOP criticism; Shooting at White House renews security fears

    The U.S. and Iran were nearing a deal to end thir war and re-open the Strait of Hormuz on Sunday, even as a number of Republicans and other conservatives said they feared the emerging agreement was not a good one for the United States.

    The deal was a subject of debate on the Sunday morning shows, where Sen. Thom Tillis (R-N.C.) questioned whether it was a good agreement for the United States and Speaker Mike Johnson (R-La.) defended it.

    The Texas Senate GOP primary on Tuesday between Sen. John Cornyn and state Attorney General Ken Paxton was another focus of conversation, with Cornyn predicting he would defy the odds and win during an apperance on The Hill Sunday.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • Iran war live: Tehran plans tolls in Hormuz; Trump warns of ‘very bad time’ | US, Iran Stall …

    Iran war live: Tehran plans tolls in Hormuz; Trump warns of ‘very bad time’ | US, Iran Stall …

    Explore the latest developments concerning Iran war live:.

    Iran war live: Tehran plans tolls in Hormuz; Trump warns of ‘very bad time’

    Iran to reveal its plan for Strait of Hormuz soon as Israel attacks Lebanon and Gaza, killing and wounding dozens.

    Beijing's Silence Is Fueling the Hormuz Crisis

    Cyril Widdershoven is a senior maritime, energy, and geopolitical analyst and Senior Advisor at Blue Water Strategy, specialising in the strategic intersection of shipping, ports,…

    Even though the Xi–Trump summit in Beijing was supposed to project stability, the outcome was clearly the opposite. In real terms, the meeting could ultimately be remembered as the moment the world began to understand that there is no viable great-power strategy to contain the Iran war or to reopen the Strait of Hormuz. The latter will have a long-lasting, debilitating effect on the stability of global shipping and energy markets. Even when taking into account all the choreography, ceremonial handshakes, and triumphant statements, the meeting produced no significant concrete result on the single issue now most directly threatening the global economy. The escalating confrontation around Iran and the paralysis in the Strait of Hormuz still hangs in the balance between Washington and Tehran. The silence at present is deafening.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • Iran war has cost US $29 billion | Hegseth takes heat from Republicans in back-to-back hearings: …

    Iran war has cost US $29 billion | Hegseth takes heat from Republicans in back-to-back hearings: …

    Explore the latest developments concerning Iran war has.

    Iran war has cost US $29 billion

    The Pentagon says the Iran war has cost the United States $29 billion to date.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • Iran war live: Tehran slams ‘collusion’ as Netanyahu ‘secretly’ visits UAE | UAE denies m…

    Iran war live: Tehran slams ‘collusion’ as Netanyahu ‘secretly’ visits UAE | UAE denies m…

    Explore the latest developments concerning Iran war live:.

    Iran war live: Tehran slams ‘collusion’ as Netanyahu ‘secretly’ visits UAE

    Iran’s First Vice President Mohammad Reza Aref said Tehran’s ‘right’ to the Strait of Hormuz is ‘established and the matter is closed’, state media reports.

    UAE denies meeting with Netanyahu, Iran warns against neighbours 'colluding' with Israel – as it happened

    Israel has said Prime Minister Benjamin Netanyahu secretly travelled to the UAE in March for talks with Sheikh Mohammed bin Zayed, resulting in a "historic breakthrough" in relations. 

    But the UAE's foreign ministry has denied the trip took place.

    Thank you for joining our live coverage of the war in the Middle East.

    The ABC is also running a live blog on Trump's visit to China.

    Officials from Lebanon and Israel will convene for peace talks in Washington on Thursday ahead of the end of the "ceasefire" between the two countries.

    Israeli strikes have claimed the lives of hundreds of people, according to Lebanese health authorities, since the ceasefire was announced in April.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • Iran war live updates: Israeli PM Netanyahu says Iran’s uranium must be ‘taken out’ before war en…

    Iran war live updates: Israeli PM Netanyahu says Iran’s uranium must be ‘taken out’ before war en…

    Explore the latest developments concerning Iran war live.

    Iran war live updates: Israeli PM Netanyahu says Iran's uranium must be 'taken out' before war ends

    Israeli Prime Minister Benjamin Netanyahu says Iran's stockpile of enriched uranium must be "taken out" before the war against the nation can be considered over.

    In an interview with CBS News's 60 Minutes, he also refused to give a timeline for an end to the war with Hezbollah.

    Earlier, Iran said it had responded to a US proposal for peace talks to end the war, but US President Donald Trump called it "totally unacceptable".

    We'll leave it there for now and be back tomorrow to update you on the latest.

    To stay up to date, you can download the ABC News app and subscribe to our range of news alerts for the latest updates.

    Trump news at a glance: Trump wants to ‘go in’ to Iran to secure nuclear material, Netanyahu claims

    Iran says it has responded to US peace proposal as ceasefire comes under strain and Israeli prime minister says war is ‘not over’

    Benjamin Netanyahu has said the war with Iran will continue as long as the country has a stockpile of highly enriched uranium (HEU), which could be used to make nuclear warheads.

    “It’s not over, because there’s still nuclear material – enriched uranium – that has to be taken out of Iran. There are still enrichment sites that have to be dismantled,” the Israeli prime minister told the CBS programme 60 Minutes, according to an excerpt published before its broadcast.

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    Oil climbs as Netanyahu and Trump remarks stoke worries over rising Middle East tensions

    Oil prices jumped Monday after Israeli Prime Minister Benjamin Netanyahu warned that the conflict with Iran was "not over," raising fears that tensions in the Middle East could escalate again and further threatening energy supplies. 

    U.S. President Donald Trump, meanwhile, rejected Iran's counteroffer to end the war with the U.S. and Israel. "I have just read the response from Iran's so-called "Representatives." I don't like it — TOTALLY UNACCEPTABLE!"

    U.S. West Texas Intermediate futures with June delivery advanced almost 5% to $100.18 per barrel as of 12:25 p.m. ET, while the international benchmark Brent crude futures with July delivery rose 4.47% to $105.82 per barrel. 

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  • Iran war live: Trump urges Iran to make deal; UAE says responding to attack | War in the Middle E…

    Iran war live: Trump urges Iran to make deal; UAE says responding to attack | War in the Middle E…

    Explore the latest developments concerning Iran war live:.

    Iran war live: Trump urges Iran to make deal; UAE says responding to attack

    Sounds heard over parts of the Gulf emirate are interceptions, UAE’s Defence Ministry says.

    War in the Middle East: latest developments

    Paris (France) (AFP) – The latest developments in the Middle East war:

    Iran's chief negotiator in talks with the United States, Mohammad Bagher Ghalibaf, warned that his country had "not even started" and that US actions in the Strait of Hormuz had put shipping at risk.

    Stocks sank across Asian exchanges as a fresh spike in Middle East tensions fanned fears over the fragile US-Iran ceasefire, and oil prices fell back slightly after gains on Monday.

    Denmark's freight giant Maersk said one of its ships had sailed through the Strait of Hormuz under US escort, adding the transit was completed "without incident".

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    Iranian Escalation in the Conflict with the United States and Israel as of May 4, 2026 at 200 PM ET

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  • Iran issues new warning as US launches effort to reopen Strait of Hormuz | ‘Project Freedom’ …

    Iran issues new warning as US launches effort to reopen Strait of Hormuz | ‘Project Freedom’ …

    Explore the latest developments concerning Iran issues new.

    Iran issues new warning as US launches effort to reopen Strait of Hormuz

    Iran's military insists it controls the Strait of Hormuz (AP: Fatima Shbair)

    The US military has denied claims that Iran targeted a US Navy vessel near the Strait of Hormuz.

    US Central Command says "No US Navy ships have been struck".

    Iran had warned US forces not to enter the strategic waterway after President Donald Trump said the United States would "guide out" ships stranded there.

    The US military has denied that any of its Navy ships have been hit in the Strait of Hormuz after Iranian state media reported that a US frigate was targeted by two missiles in the area, forcing it to turn back.

    ‘Project Freedom’ marks a classic Trump flip from warmonger to humanitarian

    After banging the battle drum, the US president is now in Nobel Peace Prize mode, promising to free marooned ships

    “Project Freedom” has all the trappings of a classic episode of the Trump Show, the reality series that the rest of the world does not just have to watch, but live through and survive. It has a dramatic plot twist, it is bathed in a self-projected beatific light, and the trailer looked far more promising that the reality.

    Trump spent a long weekend in Florida banging the war drum. Iran had not “paid a big enough price” for its past misdeeds, he wrote in an online post before spending Friday afternoon revving up a cheering crowd at America’s largest retirement community.

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    US official says China is ‘funding’ Iran, urges Beijing to help open Hormuz

    Scott Bessent says US has ‘absolute control’ of Hormuz, but calls on China to ‘step up’ with diplomacy to reopen strait.

    United States Treasury Secretary Scott Bessent has accused China of “funding the largest state sponsor of terrorism”, referring to Iran, saying that Beijing should help Washington in efforts to reopen the Strait of Hormuz.

    Bessent’s blunt criticism of China’s relations with Iran on Monday comes ahead of US President Donald Trump’s expected visit to Beijing next week, where he is set to meet with his Chinese counterpart Xi Jinping.

    “Iran is the largest state sponsor of terrorism, and China has been buying 90 percent of their energy, so they are funding the largest state sponsor of terrorism,” Bessent told Fox News.

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  • Iran war live: ‘US achieved none of its war goals’ – Araghchi at Putin meet | Iran’s foreig…

    Iran war live: ‘US achieved none of its war goals’ – Araghchi at Putin meet | Iran’s foreig…

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    Iran war live: ‘US achieved none of its war goals’ – Araghchi at Putin meet

    Iran’s foreign minister meets with Russia’s Putin as Trump says Iranian leaders can call if they want to talk.

    Iran's foreign minister meets Putin in Russia as Israel continues strikes in Lebanon

    Iran's Foreign Minister Abbas Araghchi hails Moscow and Tehran's "strategic relationship" as he meets Russian President Vladimir Putin for talks on the Iran war

    Kremlin spokesman Dmitry Peskov says Russia is ready to offer "goodwill or mediation services" in future negotiations between Iran and the US

    Moscow is keen to show it's still a player in the Middle East, writes our Russia editor Steve Rosenberg

    It comes after Donald Trump cancelled a planned trip by US officials to Pakistan over the weekend for talks on the Iran war, claiming it would be wasting "too much time" – here's a timeline of negotiations

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    Iran foreign minister presses on with regional tour despite Trump canceling envoys’ visit

    • Hectic diplomacy: Iran’s Foreign Minister Abbas Araghchi has landed in Russia to meet with President Vladimir Putin and discuss the status of negotiations, according to state media, after visiting with key mediators in Pakistan and Oman this weekend. Araghchi said earlier that it’s not clear if Washington is “truly serious about diplomacy” after US President Donald Trump scrapped plans for his envoys to visit Pakistan.

    • Peace talks stalled: Trump said talks will continue by phone after Iran declined to meet directly with American negotiators amid ongoing tensions over the Strait of Hormuz. “If they want to talk, they can come to us, or they can call us,” Trump said Sunday and reiterated that the war would “come to an end very soon.”

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