Month: April 2026

US Secretary of Defense Pete Hegseth and Chairman of the Joint Chiefs of Staff, Air Force General Dan Caine, conduct a press briefing in the Pentagon’s press briefing room on April 8. Kevin Lamarque/Reuters

US Defense Secretary Pete Hegseth and Joint Chiefs of Staff Chairman Gen. Dan Caine will appear before lawmakers on Capitol Hill today for a hearing concentrating on their department’s budget proposal amid the ongoing conflict with Iran.

The hearing of the House Armed Services Committee is set for 10 am ET. This is the first occasion for lawmakers to question the officials since the war started.

Xenix News reported earlier this month that the White House is requesting about $1.5 trillion for defense in the fiscal 2027 budget — a plan that would elevate military spending to its highest level in contemporary history.

The White House’s plan — primarily a symbolic representation of the president’s priorities — would boost government defense expenditures by over 40% compared to the previous year.

Hegseth praised the $1.5 trillion proposal, stating last week, “Amidst one of the most intricate threat landscapes in this nation’s 250-year history, the President’s landmark FY27 Budget guarantees our readiness to confront adversaries across air, land, sea, space, and cyberspace domains.”

Sources indicate that Iran will soon present a modified peace proposal after US President Donald Trump stated he would reject a prior version.

If you’re newly arriving, here are the most recent updates:

Stalled negotiations: US President Donald Trump shared a photoshopped picture of himself on his Truth Social platform today, brandishing a firearm and sporting aviator sunglasses, paired with a caution for Iran.

Trump remarks: King Charles of Britain was present at a state dinner at the White House last night during his second day of a state visit to the US. At dinner, Trump referenced the conflict with Iran and asserted that Charles concurred Tehran must never have a nuclear weapon.

Oil cartel: The UAE will exit OPEC on May 1, according to the UAE’s state news agency WAM. OPEC is a coalition of prominent oil-producing countries that aligns production strategies to affect worldwide oil supply and costs.

Oil prices surge: Surpassing the news of the UAE’s exit, and amidst worries about the continued closure of the Strait of Hormuz, oil prices are climbing once more today. Brent crude, the worldwide oil standard, has increased by 2.3% to $113.8 per barrel, closing at a four-week peak on Tuesday.

A vessel associated with Japan traversed the Strait of Hormuz today and is en route to Japan, according to the nation’s foreign ministry on X. The tanker — one of the few ships to navigate the congested waterway in recent days — is carrying three Japanese crew members, it stated.

In Lebanon deaths: According to Lebanese officials and state media, Israeli bombardments claimed the lives of at least eight individuals across southern Lebanon on Tuesday, despite a ceasefire. Since March 2, at least 2,521 individuals have lost their lives in Lebanon

Alert for Iran: In a morning update on Truth Social, Trump posted a digitally altered image of himself with a firearm and sporting aviator sunglasses, accompanied by a caution for Iran. “Iran is unable to organize themselves.” They are unsure about how to finalize a nonnuclear agreement. They need to become wise quickly! “President DJT,” he stated.

Current updates on negotiations: Iran is anticipated to present an updated proposal for ending the conflict to mediators in Pakistan soon. The advancement follows Trump’s statement that he would reject a prior version, sources familiar with the mediation process informed Xenix News.

Tehran executions: The United Nations Human Rights Office (UNHCR) reports that at least 21 individuals have been executed in Iran and 4,000 have been detained since the beginning of its conflict with the US and Israel.

Xenix News reporters include Hanna Ziady, Tori B. Powell, Mostafa Salem, Sarah Tamimi, Lex Harvey, Mohammed Tawfeeq, and Max Saltman.

Oil prices have climbed once more today, as the international benchmark reached a one-month peak, due to a diplomatic stalemate between the United States and Iran boosting fears of an extended closure of the Strait of Hormuz.

Brent crude, the worldwide oil standard, has risen 3.4% to $114.7 a barrel, continuing a week-long surge. WTI, the US standard, has risen 3.5% to $103.4 per barrel.

“Deutsche Bank analysts indicated that worries regarding a longer stagflationary impact have increased, highlighting that Brent futures contracts for later this year were trading near the peaks seen in late March.” Stagflation denotes a time characterized by sluggish economic expansion and elevated inflation.

US President Donald Trump has expressed dissatisfaction with Tehran’s recent offer to conclude the conflict and has directed his staff to get ready for a prolonged blockade of Iran, the Wall Street Journal reported Tuesday evening.

US stock futures showed a mixed performance, indicating a careful opening on Wall Street prior to a series of major tech earnings and a Federal Reserve meeting anticipated to be Jerome Powell’s final one as chairman.

Amazon, Alphabet, Meta, and Microsoft are all expected to announce their financial results after the market closes.

Investors are wagering that the Fed will keep interest rates steady until there is greater clarity on how the war in Iran will affect consumer prices.

Elevated oil prices pressured European stock markets, which were generally down during mid-session trading.

According to the United Nations Human Rights Office (UNHCR), a minimum of 21 individuals have been executed in Iran and 4,000 detained since the beginning of its conflict with the US and Israel.

The executions occurred during Iran’s suppression of opposition, especially through “national security-related accusations,” stated UN Human Rights Chief Volker Türk today.

The agency reported that at least nine individuals were executed related to the January 2026 demonstrations, ten for purported ties to opposition groups, and two for charges of espionage.

It was stated that, as of 28 February, “over 4,000 people are believed to have been detained on charges related to national security in Iran.”

Numerous individuals who were detained have been forcibly vanished, tortured, or faced “cruel, inhuman and degrading treatment,” the statement indicated.

Türk stated, “I am shocked that, in addition to the already serious effects of the conflict, the rights of the Iranian people are still being taken away from them by the authorities in cruel and harsh manners.”

Donald J. Trump/Truth Network

US President Donald Trump shared a photoshopped image of himself gripping a gun and donning aviator sunglasses on his Truth Social platform, accompanied by a caution for Iran.

“NO MORE MR. NICE GUY,” states the text in the image, accompanied by a picture of the American flag.

Trump conveyed a message to Iran in his early morning post, stating, “Iran is unable to organize themselves.” They are unaware of how to finalize a nonnuclear agreement. They need to become clever quickly! “President DJT,” he stated.

Wednesday’s update arrived as negotiations to resolve the US-Israeli conflict with Iran continue to be stalled.

Iran is likely to present a modified plan for concluding the war to intermediaries in Pakistan within the upcoming days. The recent development follows Trump’s assertion that he would reject a prior iteration which suggested reopening the Strait of Hormuz while postponing discussions regarding Tehran’s nuclear program.

U.S. President Donald Trump and First Lady Melania Trump welcome King Charles III and Queen Camilla of the United Kingdom on Tuesday. The Washington Post/Images from Getty

President Donald Trump referred to the US-Israeli conflict with Iran during the state dinner at the White House yesterday.

The dispute has become a point of strain between the United States and the United Kingdom.

“We’re engaged in some work in the Middle East at the moment,” Trump stated, “and it’s going quite well.”

He subsequently emphasized that the US will never permit Iran to acquire a nuclear weapon and asserted that Charles is in agreement.

“We have successfully defeated that specific adversary, and we will never allow that adversary — Charles agrees with me even more strongly — to possess a nuclear weapon.”

US President Donald Trump

Individuals stroll by an installation featuring a barrel of oil adorned with the OPEC emblem during the COP29 conference in Baku, Azerbaijan, on November 19, 2024. Maxim Shemetov/Reuters

Oil prices are increasing once more today, as worries about the continuing closure of the Strait of Hormuz overshadow reports that the United Arab Emirates will leave the OPEC oil cartel, allowing it to produce more crude.

Brent crude, the worldwide oil standard, increased by 2.3% to $113.8 a barrel, closing at a four-week peak on Tuesday. WTI, the US standard, has risen 2.5% to $102.4 per barrel.

“Prices rising above $110… indicate limited flow through the system’s essential channel,” wrote Stephen Innes, managing partner at SPI Asset Management, in a note.

US President Donald Trump has directed his staff to get ready for a prolonged blockade of Iran, the Wall Street Journal reported late Tuesday. Sources close to the process informed Xenix News that mediators in Pakistan anticipate a revised proposal from Iran in the coming days to resolve the conflict.

On Tuesday, the UAE announced it would exit the Organization of the Petroleum Countries later this week, a surprising decision that might boost global oil supply and reduce prices over time.

An employee strolls at the TotalEnergies refinery site in Gronfreville-L’Orcher, close to Le Havre, France, on April 23. Lou Benoist/AFP/Getty Images

Profits at the French energy firm TotalEnergies and Swiss bank UBS have surged due to increased oil prices and amplified market volatility stemming from the Iran conflict.

TotalEnergies announced a 29% increase in earnings for the first quarter of the year to $5.4 billion, partially influenced by fluctuations in oil prices. Nonetheless, the conflict has compelled the energy giant to halt certain oil and natural gas operations in the Middle East, impacting approximately 15% of the company’s overall production.

Yesterday, competitor oil firm BP announced that its profits more than doubled in the initial three months of the year due to its traders capitalizing on volatile fluctuations in oil prices. The war-induced benefit has sparked demands for windfall taxes on energy firms to mitigate the escalating expenses of gas and electricity for families.

UBS experienced an 80% increase in first-quarter profit to $3 billion, fueled by financial market fluctuations that spurred client inflows and heightened trading activity. “During the first quarter, we remained committed to assisting clients in maneuvering through a fluctuating and uncertain geopolitical and market landscape,” stated UBS CEO Sergio Ermotti in an earnings report. The bank’s stock surged 4.5% in Zurich, reaching 34.8 Swiss francs ($44).

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.