Day: April 28, 2026

The United Arab Emirates leaving the Organization of the Petroleum Exporting Countries deals a major setback to the Middle East’s capacity to maintain inflated oil prices. However, it might also pose challenges to US oil producers and could hinder the region’s capacity to deal with future crises.

The United States is somewhat energy independent. It generates more than it uses, yet it still brings in approximately a third of its oil from abroad. This is due to the fact that the light, sweet crude extracted in America is excellent for producing gasoline but poor for generating heavier fuels and other petroleum-derived products. The United States continues to depend on the Middle East for a portion of its crude oil.

Reducing OPEC’s influence might benefit consumers over time. The UAE ranks as the second-largest producer in the area, positioning it as a significant new competitor in the market capable of producing oil without the limitations imposed by OPEC member countries.

For American manufacturers, the future consequences are more uncertain. Decreasing pressure on oil prices, which are traded globally, may impact Big Oil’s profits. Prior to the Iran war, the world faced an oil oversupply, even considering OPEC’s production limits, making it uncertain that long-term demand will justify increased output from the UAE. Producers in the US may need to reduce their production if demand falls back to its earlier low levels.

It also indicates that the Iran war is causing lasting alterations to global business practices, creating new supply chains. These alterations might continue beyond the UAE. Therefore, the market changes that will impact you are just starting to develop.

President Donald Trump in the White House’s Oval Office, on April 18. Julia Demaree Nikhinson/AP

President Donald Trump stated that Iran has notified the United States it is in a “State of Collapse,” asserting that Tehran desires the Strait of Hormuz to remain open as “they attempt to resolve their leadership.”

“Iran has recently notified us that they are experiencing a ‘State of Collapse.’” He stated in a post on Truth Social Tuesday morning, “They are urging us to ‘Open the Hormuz Strait’ at the earliest, while they sort out their leadership issues (which I believe they will resolve!).”

On Monday, the president indicated that he was probably not going to accept Iran’s new proposal to resolve the conflict, as Tehran suggested a plan that would allow reopening the strait while postponing discussions about its nuclear program.

Monitoring vessel movement through the Strait of Hormuz on Tuesday. Nautical Movement

An LNG tanker carrying a full load traversed the Strait of Hormuz for the first time since the onset of the war in Iran, according to shipping analytics company Kpler.

Traffic continues to be restricted, highlighting the waterway’s successful shutdown after US President Donald Trump indicated yesterday that he was not likely to agree to Iran’s newest proposal to resolve the conflict.

Kpler stated that it is unclear when the tanker, Mubaraz, successfully crossed the strait, as it likely disabled its transponder and reemerged near the southern Indian coast last night.

“It is possible that the ship successfully navigated the strait on the weekend of April 18-19, when several vessels, including seven LNG tankers, tried to cross, but this has not been confirmed yet,” stated Kpler senior analyst Charles Costerousse.

The ship took on its cargo at Das Island in the UAE nearly two months ago and is probably en route to an Asian nation, although its exact destination remains unclear, Kpler noted.

According to the vessel tracker MarineTraffic, only six ships were trying to navigate through the waterway this morning based on their AIS data.

They incorporated a container vessel navigating from the UAE to the Indian terminal of Nhava Sheva, two oil carriers – one coming from the Saudi port of Ras Tanura and the other from the UAE’s Hamriya Free Zone – along with an Iranian-flagged freight ship. None of them have fully traversed the strait so far, and they might still be caught in the US blockade well away from the area during their continued journey.

Ships may cease transmitting their AIS information – which shows their position — implying that additional vessels might be passing through the strait unnoticed by maritime monitors.

Xenix News reporting was contributed by Kevin Liptak.

A graphic from NetBlocks shows a smartphone screen depicting internet connectivity outages in Iran as officials enforce a nationwide internet blackout. Jonathan Raa/NurPhoto/Getty Images

An internet blackout imposed by Iran’s ruling regime reached its 60th day on Tuesday, as reported by the monitoring organization NetBlocks, leaving residents in “digital darkness.“

NetBlocks reported in a post on X that two months ago, Iranian authorities “restricted access to the global internet.”

The government had earlier executed a large-scale telecommunications blackout this year while conducting the deadliest suppression of its citizens in the 47-year existence of the Islamic Republic. At that moment, rights defenders criticized officials for attempting to prevent individuals within the nation from disclosing the extent and brutality of the abuses to the outside

With the economic pressure from the US-Israeli conflict intensifying in Tehran and retaliatory attacks increasing, Iranians grappling with rising unemployment claim the internet outage has cut off another possible lifeline.

A woman in her 50s, hailing from Isfahan, cautioned that females working from home have limited access to job opportunities online.

Somayeh, teaching German online for years, informed Xenix News, “Nothing functions correctly anymore.”

“The decrease in income is unfortunate, but the ongoing uncertainty is even more troubling.” “You can never predict what will occur next,” she remarked.

According to the state-run Bahrain News Agency, five individuals in Bahrain have received life sentences after being convicted of executing “terrorist and hostile actions” on behalf of Iran.

On Tuesday, Bahrain’s High Criminal Court delivered a life-sentence verdict in two distinct cases, sentencing two Afghans in one case and three Bahrainis in another, while exonerating a sixth defendant.

Officials stated that the Afghans were enlisted to help Iran’s Islamic Revolutionary Guard Corps (IRGC) in observing and taking photos of essential sites in Bahrain for financial compensation.

In the second instance, three citizens of Bahrain were charged with conducting comparable surveillance of critical facilities for the IRGC.

“The Public Prosecution emphasizes that engaging with foreign entities that are hostile to the Kingdom of Bahrain is one of the gravest offenses impacting national security, as it allows these entities to acquire information that could be used to execute hostile actions against the Kingdom and its interests, state officials reported.”

Bahrain on Monday revoked the citizenship of numerous individuals for showing support for Iran.

US gas prices rose by 6 cents to an average of $4.18, marking the highest price since August 2022, based on the latest report from AAA.

It marked the biggest single-day jump in five weeks, and climbing oil futures indicate that even greater gas prices are likely to follow. Oil futures rose approximately 3% to $111 a barrel on Tuesday.

Average US gas prices dropped to $4.02 after two weeks following the initiation of the ceasefire in the Iran conflict. However, worries about halted peace negotiations without a resolution to reopen the Strait of Hormuz have caused prices to soar once more.

Wholesale gasoline futures are increasing as the United States quickly reduces its stockpiles. In recent years, the United States maintained approximately 250 million barrels of gas in reserves, but current inventories have dropped below 230 million, as stated by Andy Lipow, president of Lipow Oil Associates.

With the United States exporting unprecedented volumes of crude and refined products to compensate for losses from the Middle East, US prices are anticipated to increase further. Lipow projected that average gas prices might increase to $4.30 within the next week to ten days.

California, historically having the highest average price among all states, now sees an average price nearing $6 per gallon, currently at $5.97.

US President Barack Obama addresses the School of International Service at American University in Washington, D.C., regarding the Iran nuclear agreement under consideration in Congress on August 5, 2015. Pete Marovich/Bloomberg/Getty Images

Since US President Donald Trump exited the 2015 nuclear agreement with Iran, he has ridiculed the “decaying” and “rotten” accord negotiated by his predecessor.

The Joint Comprehensive Plan of Action (JCPOA) from the Obama administration limited Iran’s uranium enrichment for 15 years and allowed UN-led inspections to confirm Tehran’s compliance with the agreement, in return for partially lifting sanctions on Iranian oil resources and unblocking billions in assets.

The agreement received extensive global backing, but faced opposition from certain lawmakers in the US and Israel. In a speech to the US Congress, Israel’s Prime Minister Benjamin Netanyahu emphasized that the agreement allowed a significant portion of Iran’s military strength to remain.

Trump withdrew from the JCPOA in 2018 during his initial term as president. Other parties attempted to uphold the agreement, but Iran ultimately breached the terms and the deal collapsed.

In February, following US-Israeli strikes on Tehran that interrupted sensitive negotiations for a new nuclear deal and Iran’s retaliatory actions, hopes for reaching a revised agreement started to unravel.

The White House has consistently insisted that Iran halt all uranium enrichment and give up its stockpile of near-bomb-grade material, which Tehran is unwilling to do. At the same time, Iran aims to preserve its control over shipping in the crucial Strait of Hormuz and put an end to debilitating economic sanctions.

On Sunday, Iranian Foreign Minister Abbas Araghchi delivered a proposal to Pakistani mediators aimed at resolving the conflict and restoring the blocked waterway – while not responding to the US president’s request for Tehran to relinquish its nuclear program.

One day later, sources informed Xenix News that Trump was improbable to agree to Iran’s most recent offer.

The Israeli military has urgently alerted residents in over a dozen villages to evacuate to the north, stating it is for their safety following Hezbollah’s “violation” of the ceasefire agreement.

“Due to Hezbollah’s breach of the ceasefire agreement, the IDF is obligated to respond decisively against it,” stated the Israel Defense Forces’ (IDF) Arabic spokesperson Avichay Adraee on X today.

“Anyone close to Hezbollah personnel, installations, or weaponry is jeopardizing their safety,” he stated.

Although a ceasefire has been announced between Israel and Lebanon, Israeli troops and Hezbollah keep attacking one another, with both sides blaming the other for violating the agreement. According to the Lebanese Ministry of Health, Sunday marked the most fatal day for civilian casualties in Lebanon since the ceasefire started, with 14 civilians reported dead nationwide.

US President Donald Trump indicated yesterday that he was probably not going to agree with Iran’s recent offer to conclude the conflict, sources informed Xenix News, after Tehran presented a proposal that would allow the reopening of the Strait of Hormuz while postponing discussions concerning its nuclear program.

Here’s what else has been occurring.

Sources familiar with the mediation process suggest that the US and Iran, despite not having convened for a second set of discussions in Pakistan, are not as distanced from each other as they might appear.

The worldwide oil price exceeded $110 a barrel today for the first time in three weeks, as traders express concerns that the US and Iran remain far from an agreement to resolve the conflict and completely reopen the crucial Strait of Hormuz.

BP’s earnings more than doubled in the initial three months of the year, as the firm’s oil traders capitalized on the drastic fluctuations in oil prices caused by the Iran conflict.

In Iran, millions of individuals have lost their jobs and are being driven into poverty due to the ongoing conflict.

Xenix News reporting contributed by Kevin Liptak, Nic Robertson, Hanna Ziady, Tim Lister, and Aida Karimi.

According to Ali Vaez, Iran Project Director at the International Crisis Group, President Donald Trump seems to be depending on the US blockade of Iran’s ports to compel Tehran to comply with his demands.

“President Trump appears to think that the US blockade against Iran is effective and will subdue Iran soon, if not within weeks, allowing him to compel Iran to accept his conditions,” Vaez informed Xenix News‘ Rosemary Church.

However, he warned that Trump’s use of economic or military pressure on Tehran has “made Iran’s stance more difficult rather than easier.”

Vaez commented on the encounter between Iranian Foreign Minister Abbas Araghchi and Russian President Vladimir Putin, highlighting that Moscow can assist Iran “in either scenario: a return to conflict or an agreement.”

Vaez stated that Russia has already supplied Iran with intelligence and various assistance during the conflict. Should the US and Iran reach a deal, Russia, being a permanent member of the UN Security Council, might assist Iran in achieving its objectives.

Vaez stated that if Iran intends to impose tolls in the Strait of Hormuz, it might require a resolution from the security council to do so.

Russia has proposed to hold or reprocess Iran’s enriched uranium, but the US has so far dismissed this offer, Vaez noted.

In the end, both the US and Iran must yield some demands, or they could exacerbate economic instability and food scarcity, which Vaez described as “a catastrophe for all.”