Strait of Hormuz to remain closed until US meets deal conditions, says Ghalibaf
The Strait of Hormuz is to remain closed until the US is able to meet the conditions agreed in an interim deal, according to Iran’s parliamentary speaker and top negotiator Mohammed Bagher Ghalibaf in comments shared by state media.
Conditions include lifting a marine blockade and sanctions as well as freeing Iran’s frozen assets.
(Middle East Images)
Maira Butt18 August 2026 10:20
Asia shares decline as worries about rising oil prices outweigh perks from strong earnings
Asian shares declined in early Tuesday trading, as rising oil prices and worries about inflation worked as a dampener on some markets, countering the optimism that had come from robust corporate earnings reports.
Japan‘s benchmark Nikkei 225 dipped 1.6% to 68,098.54. Australia‘s S&P/ASX 200 edged up 0.2% to 9,088.60. South Korea‘s Kospi reversed course after surging earlier to drop 0.6% to 6,933.60. Hong Kong’s Hang Seng lost 0.6% to 25,289.88, while the Shanghai Composite shed 0.5% to 3,963.53.
Analysts said robust earnings reports in Asia, following those from the U.S., are helping counter worries about what the war in Iran will do to the global flow of crude and its impact on energy prices. Japan, for one, imports almost all its oil.
Maira Butt18 August 2026 09:50
Traffic through Strait of Hormuz rises to six vessels
Commodity vessel traffic through the Strait of Hormuz has risen from two ships a day to six, according to shipping data reported by Reuters.
Vessels near the Strait of Hormuz, as seen from Musandam as Trump threatens to bomb Oman on Monday (Reuters)
Maira Butt18 August 2026 09:20
Houthis attack Saudi refinery, says group’s news agency
Yemen’s Houthi news agency Saba is reporting that the group has attacked Aramco’s Jazan refinery in Saudi Arabia using drones, according to a military source.
Saudi Arabia is yet to respond to the reports.
Maira Butt18 August 2026 08:50
Watch: Trump casts doubt on Iran deal, says Tehran ‘cannot have a nuclear weapon’Trump casts doubt on Iran deal, says Tehran ‘cannot have a nuclear weapon’
Maira Butt18 August 2026 08:24
Gaza will not be rebuilt until Hamas disarms, says Kushner after four-hour Netanyahu meeting
Israel will continue strikes on Gaza after four-hour discussions on a Gaza Peace Plan between prime minister Benjamin Netanyahu and US envoy and Donald Trump’s son-in-law Jared Kushner.
“We have a plan to rebuild Gaza, but we will not allow Gaza to be rebuilt until the demilitarisation occurs,” Kushner told Fox News on Monday.
“Nobody wants to put more money into a place that’s gone on for so long if it’s just going to be taken over by terrorists or blown up again.”
Netanyahu and Kushner discussed a Gaza peace plan and concluded that Hamas must disarm first (AFP/Getty)
Maira Butt18 August 2026 07:51
Trump again threatens to ‘bomb the s*** out of’ ally Oman over Strait of Hormuz
Donald Trump has threatened to launch an attack on Oman – a Middle East ally – over control of the Strait of Hormuz, which remains largely blocked amid the ongoing conflict between Washington and Iran.
A 60-day period to negotiate a ceasefire deal expired on Monday with no news of an extension and talks deadlocked in the same position as two months ago.
“If Oman gets in the way, we’ll bomb the s**t out of them,” Trump said in an interview with Fox News, after reports Oman and Iran are working out their own solution to control the strategic waterway.
Trump told the outlet that the US had a backchannel with the Islamic Revolutionary Guard Corps, adding: “They should put up the white flag of surrender.”
Maira Butt18 August 2026 07:20
Turkey urges Trump to continue talks with Iran
Turkish president Recep Tayyip Erdogan has told his American counterpart Donald Trump that it was important to continue talks with Iran to pursue diplomacy.
The two leaders discussed the Iran and Gaza wars, bilateral ties and the Mecca Joint Defence Agreement during a phone call yesterday.
Erdogan reportedly told Trump that Turkey was ready to contribute to the peace talks between Washington and Tehran.
Alisha Rahaman Sarkar18 August 2026 06:50
Hormuz crossings rise slightly from weekend
Ship crossings through the Strait of Hormuz were still in the single digits, despite a slight rise from the weekend, according to preliminary shipping data.
Six commodity ships transited the strait yesterday, of which three were exiting the Gulf and three were entering, Kpler ship-tracking data showed, compared with the 10-day average of 11 ships. Three ships transited on Saturday while two moved through the waterway on Sunday.
There were no very large crude carriers or tankers carrying liquefied natural gas passing through.
Alisha Rahaman Sarkar18 August 2026 06:38
Five ways Trump could target Iran’s economy
U.S. President Donald Trump pledged on Friday to inflict severe economic damage on Iran following Treasury Secretary Scott Bessent’s announcement that Washington plans to levy unprecedented restrictions on Tehran as early as next week.
Trade embargoes, asset freezes, and sanctions have been imposed by the United States, European Union, and United Nations since the late 1970s, citing Tehran’s nuclear ambitions, human rights abuses, and backing of militant factions.
Alisha Rahaman Sarkar18 August 2026 06:27