Iran-Israel War

Current Iran-US peace negotiations are overshadowing additional dangers posed by Tehran, such as its ballistic missile initiative and backing for regional proxies that endanger the Gulf, according to a Middle East expert.

“We’re not discussing limiting ballistic missiles… (or) Iran reducing its backing, or terminating its proxies in the area,” stated Firas Maksad from the Eurasia Group, a political consulting firm.

“Those matters will be addressed by the countries of the (Gulf) region,” he stated to Xenix News Becky Anderson during Connect the World.

His remarks followed US President Donald Trump’s dismissal of Iran’s recent peace proposal on Wednesday due to its stance on uranium enrichment and nuclear abilities.

Tehran is anticipated to present a modified proposal in the near future.

Iran-supported Houthi insurgents are among various proxies operating in the Middle East; they have formerly attacked shipments passing through the Red Sea and targeted Saudi Arabia and Israel.

On Thursday, President Trump is anticipated to receive briefings on new military strategies concerning Iran from Pentagon officials, as he pushes Tehran to accept a deal, according to a knowledgeable source.

Trump is regularly briefed on military strategies, and there was minimal evidence suggesting that his earlier hesitance to resume the US bombing campaign was diminishing.

Nevertheless, the briefing indicated that Trump is maintaining his choices as discussions to conclude the conflict progress at a sluggish pace.

The briefing, initially reported by Axios, was anticipated to feature Adm. Brad Cooper, the head of US Central Command, and Gen. Dan Caine, the chairman of the joint chiefs of staff, along with additional high-ranking military officials.

Trump’s present tactic aims to cause extensive economic hardship for Iran, hoping the nation will yield to his requests regarding limitations on its nuclear program.

In recent days, he has informed his senior advisers that he wants the US naval blockade of Iranian ports to persist, according to sources familiar with the discussions, and his team has started preparing for this extension, which may involve a prolonged closure of the Strait of Hormuz.

“The blockade is brilliant,” the president remarked to reporters on Wednesday when inquired about its duration. “At this point, they just need to give in; that’s all that’s required.” “Simply state, ‘We surrender,’” he mentioned.

Sources familiar with the situation revealed that although the Pentagon is still preparing in case the president opts to restart his bombing operations, Trump has consistently expressed a preference for negotiating with the Iranians and steering clear of additional military strikes.

The existing ceasefire is indefinite, and Trump has mentioned that he doesn’t feel rushed to finalize an agreement.

US gas prices reached an average of $4.30 per gallon — an increase of 27 cents, or 7%, in only the past week. Worries about the inability of peace negotiations to achieve an agreement to conclude the conflict and reopen the Strait of Hormuz have caused prices to surge.

Oil prices experienced significant fluctuations overnight: The cost of Brent crude oil, a worldwide benchmark, reached over $125 per barrel early Thursday before falling back down.

This comes after reports that US President Donald Trump is considering a prolonged military blockade on Tehran’s ports to urge Iran to return to negotiations.

Here’s what you should be aware of:

Prominent economist points out “energy” crisis: Conflicts between the US and Iran have plunged the global community into a “significant energy and economic crisis,” as stated by the executive director of the International Energy Agency. Fatih Birol forecasted “environmental challenges” as regional powers in Asia and the Global South attempt to find alternative energy solutions.

“Bound for defeat”: Tehran “will react” to any extended US military blockade on Iranian vessels in the Strait of Hormuz, states the nation’s President Masoud Pezeshkian, as both countries seek to gain control over the crucial Strait of Hormuz after halted ceasefire discussions. Pezeshkian predicted that “any effort to establish a naval blockade” by the White House “is bound to fail.”

Message from Khamenei: Iran’s Supreme Leader Mojtaba Khamenei stated that “foreign entities” belong only “in the depths of its waters” of the Persian Gulf during tensions with the US, as reported by state media. Since his inauguration in March, Iranians have yet to publicly see or hear Khamenei, although he has released six written messages.

Iran commemorates Persian Gulf Day: On Thursday, Iran observed Persian Gulf Day, marking the nation’s triumph over Portuguese forces driven out from the island of Hormuz. This year’s annual celebrations hold increased importance as Tehran leverages its control over the crucial waterway to resist yielding to US pressures.

Israeli troops capture Gaza aid flotilla: In another part of the area, the Israeli army stopped the Gaza Sumud Flotilla in international waters heading to Gaza. In the previous year, Israel raided the fleet and arrested hundreds of individuals, including Swedish activist Greta Thunberg.

On March 19, an individual rides a bicycle by the Bank of England in central London. Henry Nicholls/AFP/Getty Images

The European Central Bank has maintained its primary interest rate at 2%, but cautioned that inflation may increase and economic growth could be weaker due to the impacts of the Iran conflict.

“The longer the conflict persists and energy costs stay elevated, the greater the probable effect on overall inflation and the economy,” the ECB stated in a announcement on Thursday.

Data released earlier Thursday indicated that inflation in the 21 countries utilizing the euro increased to 3% in April, up from 2.6% in March.

Previously, the Bank of England maintained its benchmark interest rate at 3.75%. Nonetheless, the BOE cautioned that borrowing expenses might increase later if a sustained surge in energy costs exerts additional upward pressure on inflation.

Prior to the war, UK inflation was set to decrease to the central bank’s 2% target starting this month. Inflation was at 3.3% in March, and the BOE now anticipates it will increase to just above 3.5% by year’s end.

“This shift in the inflation forecast is a direct result of the Middle East conflict,” BOE Governor Andrew Bailey informed journalists.

Defense Secretary Pete Hegseth is seated alongside Joint Chiefs Chairman General Dan Caine at a House Armed Services Committee hearing in Washington, on Tuesday. Kylie Cooper/Reuters

US Defense Secretary Pete Hegseth and Chairman of the Joint Chiefs Gen. Dan Caine will respond to inquiries from senators today, after yesterday’s House hearing that occasionally became heated.

Hegseth and Caine will go back to Capitol Hill for a session regarding the White House’s $1.5 trillion defense budget proposal before the Senate Armed Services Committee. The session is anticipated to start at 11 a.m. ET.

In yesterday’s House hearing, Hegseth clashed with Democrats multiple times regarding the conflict in Iran. He claimed that legislators who were against the war represented the “greatest opponent” confronting the United States.

They will both be accompanied again by Jules “Jay” Hurst III, the Pentagon official who is now serving as the agency’s comptroller.

Hurst informed the House committee yesterday that the conflict in Iran has incurred approximately $25 billion in expenses so far. However, sources informed Xenix News that this figure is a low estimate that overlooks the expenses needed for repairing US military bases that were harmed during the war.

As the world focuses on the crucial Strait of Hormuz, Pakistan has launched six land transit routes for goods heading to Iran.

On April 25, the Ministry of Commerce announced the Transit of Goods through Territory of Pakistan Order 2026, implementing it immediately to establish a road corridor for alleviating cargo delays.

The directive permits the transit of goods from third countries through Pakistan for delivery to Iran by road.

Approximately 3,000 Iranian shipping containers have been at Karachi and Gwadar port since the conflict started two months back.

• The six specified routes connect Pakistan’s major ports—Karachi, Port Qasim, and Gwadar—with two Iranian border points—Gabd and Taftan—traversing through Balochistan, Pakistan’s southwest province adjacent to Iran.

The notification from the commerce ministry was founded on a 2008 accord between Islamabad and Tehran that permits the movement of goods and people via road. Iran has not utilized the routes so far because it depended on its own ports for commerce.

A picture captured from southern Lebanon’s Marjeyoun displays the smoke remnants of Israeli artillery fire on Thursday. AFP/Getty Images

According to Lebanese authorities and state media, a new series of Israeli airstrikes in southern Lebanon resulted in the deaths of nine individuals, including two children, today.

According to Lebanon’s health ministry, another 23 individuals were injured in several attacks on the region.

Xenix News has contacted the Israel Defense Forces (IDF) for a statement.

Although a ceasefire has been announced, Israel’s military leader Eyal Zamir informed soldiers on Wednesday that they would keep engaging on the “front lines,” as Israel exchanges strikes with Hezbollah.

According to the Lebanese ministry of health, more than 2,500 individuals have died and over 7,900 have been wounded since the conflict started, with the casualties still increasing even though a ceasefire is in effect.

Iran’s Supreme Leader Mojtaba Khamenei stated that “foreign players” belong nowhere in the Persian Gulf other than “the depths of its waters” during the ongoing tension with the US, as reported by state media.

Over seven weeks since he was declared their new supreme leader after his father’s assassination, Iranians have yet to see or hear from Khamenei, though he has sent out multiple written communications.

“Our neighbors across the Persian Gulf and the Gulf of Oman and we share a collective fate, and foreign entities — arriving from thousands of kilometers away with selfish motives — have no role here other than in the ocean’s depths,” he stated, based on an alleged remark.

In the message, Khamenei stated that Iran has begun a new phase of “regional and global order,” as reported by state television. He stated that Iran would “protect” its nuclear and missile abilities – crucial issues in any agreement with the US.

Thursday’s communication arrives as sources indicate that US President Donald Trump is planning a prolonged blockade of Iranian ports, seeing it as the main tool to push Iran to restart talks to conclude the conflict.

Khamenei’s remark follows shortly after US Secretary of State Mark Rubio stated that the US has evidence suggesting the Ayatollah is alive, but he raised doubts about whether he possesses “the clerical qualifications to truly function as supreme leader.”

Xenix News reporting by Jennifer Hansler was contributed.

Gas prices are shown at a Brooklyn gas station in New York City on Tuesday. Spencer Platt/Getty Images

Oil prices are declining today after temporarily rising above $126 a barrel, marking a four-year peak, as traders express concerns about an extended shutdown of the Strait of Hormuz that could tighten global oil availability even further.

Brent crude, the international oil standard, reached an intraday peak of $126.41 before dropping to $116.6 a barrel as trading activity decreased. WTI, the American benchmark, remained mostly unchanged at $106.7 per barrel.

“The oil market has transitioned from… wishing for a solution to focusing intensely on the tangible scarcity and enduring risk to supply with the potential intensification of conflict now imminent,” Neil Wilson, a strategist at investment bank Saxo noted in a memorandum.

US President Donald Trump aims to prolong a blockade of Iranian ports, sources informed Xenix News, a decision that might prompt Tehran to respond, potentially by targeting energy infrastructure.

The price surge on Thursday was also influenced by peculiarities in oil futures contracts, as stated by Wilson. The frequently referenced June futures contract expires today, leading trading volume to transition to the July contract, currently priced at approximately $110 a barrel.

US gas prices rose by 7 cents to $4.30 for a gallon of regular, marking the largest single-day increase in prices over the past six weeks. Gas prices have reached their peak since July 2022, as reported by AAA data.

The rise indicates a price increase of 27 cents, or 7%, in merely the past week. And costs have increased by 44% since the beginning of the conflict in Iran.

Oil futures indicate that elevated prices are expected. Crude futures remain relatively stable in Thursday’s trading, while US crude prices surged 7% on Wednesday, closing above $100 a barrel for the first time since the ceasefire in Iran was announced.

Gas prices decreased for two weeks following the commencement of the ceasefire, lowering the average to $4.02 by April 22. However, worries about the inability of peace negotiations to achieve a deal to conclude the conflict and reopen the Strait of Hormuz have caused prices to surge once more.