US-Iran ceasefire: Trump says US has 'militarily defeated' Iran
Trump, with King Charles, says US has 'militarily defeated' Iran
US President Donald Trump told Britain's King Charles III and other guests at a state dinner Tuesday that Iran has been "militarily defeated," in his first public comments on the sensitive topic during the ongoing royal visit.
"We have militarily defeated that particular opponent," Trump said at the White House dinner, adding: "Charles agrees with me even more than I do - we're never going to let that opponent have a nuclear weapon."
Bahrain minister says it's time to find solutions to restore peace after Iran strikes
Foreign Minister Abdullatif bin Rashid Al-Zayani urged the international community at this critical time "to shift from crisis management to finding solutions" to the Iranian crisis.
This should include constructive dialogue that ensures Iran's compliance with principles of good neighborliness and international law, respect for the sovereignty of states and freedom of navigation in the Strait of Hormuz and other vital waterways, he said.
Al-Zaysni, who chaired a ministerial meeting of the U.N. Security Council, told diplomats Iran must also halt its nuclear, missile and drone programs, refrain from arming or financing proxies and armed militias, and stop attacking Bahrain and other Gulf countries and Jordan.
US fuel prices hit highest level since Russia-Ukraine war
US fuel prices surged to an average of $4.18 per gallon for petrol (gasoline) — the highest level recorded since the 2022 onset of the Russia-Ukraine war — as fears of a long-term energy crisis mount. The price spike follows reports from the Wall Street Journal and the Associated Press confirming a deadlock between Washington and Tehran over the ongoing two-month conflict and the reopening of the vital Strait of Hormuz.
An Israeli military contractor is killed by drone strike in southern Lebanon
A brief statement by the Israeli army said the civilian employee of an engineering company was working with the military on projects in southern Lebanon.
An Israeli military official confirmed the contractor was a civilian and died in a drone attack. The official spoke on condition of anonymity under military briefing rules.
Despite a ceasefire in Lebanon, Israeli forces and Hezbollah militants have been intermittently attacking each other in the south, where Israeli soldiers are occupying a slice of territory along the border.
Gulf Arab countries jointly condemn Iran's actions in the Strait of Hormuz
The leaders of several wealthy Gulf nations rejected Iran's "illegal actions" to close the strait and threaten navigation, warning against any disruption to shipping or charging fees for safe passage.
The statement followed a Gulf Cooperation Council meeting on Tuesday in Saudi Arabia, chaired by Saudi Crown Prince Mohammed bin Salman and attended by leaders from Qatar and Bahrain, Kuwait's crown prince, and the United Arab Emirates' foreign minister.
They called for restoring "security and freedom of navigation" to prewar levels and urged deeper military integration, including joint infrastructure projects and a ballistic missile early warning system.
US budget airlines seek billions in aid amid soaring fuel costs
Their trade group is asking the Trump administration for $2.5 billion to offset rising jet fuel costs and keep ticket prices affordable. The Association of Value Airlines said smaller carriers are being hit hardest by the jump in fuel prices, despite carrying more than 90 million passengers last year.
"Temporary government support" would help "preserve vital industry competition," the association said.
The trade group represents Frontier, Allegiant, Avelo and Sun Country. Another member, Spirit, is separately in talks with the U.S. government on a potential financing deal aimed at keeping the struggling carrier flying as it navigates fuel price shocks during its second bankruptcy since 2024.
Oil prices climb amid ongoing Hormuz risks
Oil prices continued their upward trajectory as of early Wednesday, April 29, 2026, as WTI crude climbed near $100 and Brent at $111+, driven by persistent anxieties surrounding the ongoing risks faced by tankers crossing the Strait of Hormuz. According to the latest market data, benchmarks showed significant gains across the board, even as traders digest the UAE's decision to quit OPEC and OPEC+ effective May 1, 2026.
First tankers slip through Hormuz Strait
The crude supertanker Idemitsu Maru, operated by Japan’s Idemitsu Kosan, has exited the Hormuz chokepoint, making it the first crude oil shipments to move through the Strait of Hormuz after weeks of disruption, signaling a possible easing of tensions following a two-month conflict between the US-Israel and Iran. The vessel departed a "holding position" in the Gulf and was tracked moving through waterway earlier this week. This came after LNG tanker Mubaraz had successfully exited the chokepoint, marking the first such transit since hostilities began, as per ship-tracking data.
Trump claims Iran in "State of collapse"
President Donald Trump posted on social media Tuesday claiming Iran has declared itself in a "State of Collapse" and is requesting the United States help reopen the Strait of Hormuz. Trump indicated Iran is simultaneously working through an internal leadership transition, though he expressed optimism about the country's ability to resolve it. The post signals a potentially significant shift in US-Iran dynamics, with Washington apparently in active communication with Tehran during what the regime itself is describing as a crisis moment.
UAE announces decision to exit OPEC & OPEC+
The United Arab Emirates today announced its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC and OPEC+), effective 1 May 2026. This decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets.
This decision follows a comprehensive review of the UAE’s production policy and its current and future capacity and is based on our national interest and our commitment to contributing effectively to meeting the market’s pressing needs.
US‑Israel war on Iran: Recent developments
Day 60: Blockade: US Marines board ship near Hormuz
Day 59: Iran blames US for failure of talks
Day 58: Trump says shooting won't 'deter' him from Iran war
Day 57: Iran sends revised peace plan, Trump calls it insufficient
Day 56: European Union calls for reopening of Strait of Hormuz
Day 55: Trump: US could make a deal with Iran 'right now'
Day 54: Trump extends US-Iran ceasefire
Day 53: Pakistan urges the US and Iran to extend their ceasefire
Day 52: Fighting to resume as ceasefire ends Wednesday: Trump
