The price of Brent Crude fell to pre war levels on Thursday as Donald Trump threatened abandon talks with Iran if it tries to impose tolls or other charges on shipping through the Strait of Hormuz.
The prices fell to $72.24, lower than the day Iran war began on 28 February, even as both sides continue to diverge on issues key to peace talks.
The US president said that Iran had informed the US that, despite reports to the contrary, there are “NO TOLLS, NO INSURANCE COSTS, & NO OTHER CHARGES OF ANY KIND BEING SOUGHT OR RECEIVED BY IRAN ON SHIPS TRAVELING THE STRAIT OF HORMUZ”.
“If this is false information, negotiations would end immediately,” Trump said in a post on social media.
Meanwhile, Iran’s deputy foreign minister said on Wednesday that access to Iranian nuclear sites for inspections would only be addressed in the framework of a final agreement and after practical steps are taken to lift sanctions, after the US indicated Iran had agreed to allow inspections to resume.
Brent crude price falls below pre-Iran war levels
The price of a barrel of Brent crude fell to $72.24 on Thursday, lower than the day the Iran war began on 28 February.
The oil prices began sliding since US and Iran began peace talks, in the hopes of achieving lasting agreement to end the conflict and unblock the Strait of Hormuz.
The vessel traffic transiting through the strait has also doubled in the last 24 hours, reaching its highest level since before the war, reported CNN citing MarineTraffic data.
Namita Singh25 June 2026 07:58
Video: Trump says it is ‘unacceptable for any Iran deal to include shipping fees’
Namita Singh25 June 2026 07:46
Israeli military official says one soldier killed in Lebanon after vehicle overturned
An Israeli military official said on Thursday a soldier was killed in southern Lebanon after a vehicle had overturned.The official described the incident as an accident.
Earlier, the military said a soldier had died during “operational activity”.
Namita Singh25 June 2026 07:46
Five more South Korean ships exit Strait of Hormuz, ministry says
Five more South Korea-operated vessels exited the Strait of Hormuz, Seoul’s Oceans Ministry said on Thursday. One of the ships is bound for South Korea, the ministry said.
The ministry did not name the vessels, citing requests from shippers and crew members.
A total of 13 South Korean ships remain in the strait, with 87 crew members on board, according to the ministry. South Korea is in talks with relevant countries to assist the remaining ships to safely exit the area, it said.
Namita Singh25 June 2026 07:00
Using flattery, Rutte tries to ease Nato tensions with Trump over Iran
Nato secretary-general Mark Rutte sought to calm tensions with president Donald Trump at the White House on Wednesday, using a mix of flattery and gentle pushback to argue that instances of allies’ reluctance to support the US war with Iran were limited to “isolated cases”.
The Nato chief is visiting Washington to try to ease strains over the Iran war and US threats to draw down troops in Europe ahead of a pivotal Nato leaders’ summit in July in Ankara.
Trump, a longtime Nato critic who has called the alliance a “paper tiger,” has been angered by allies refusal to support the US in the Middle East conflict or help reopen the Strait of Hormuz after a US-Israeli attack on Iran on 28 February disrupted the major oil shipping route.
During the Oval Office meeting, Rutte used cardboard charts to show how much Nato countries have stepped up their defence spending since Trump first came into office in 2017.
He also said thousands of US planes had taken off from bases in Europe during the war, pointing to that cooperation as a sign of the allies support. Italy pushed back on Rutte’s remarks, saying Rome had authorised only technical and logistical flights.
“I know there have been isolated cases about which you are really disappointed, but generally speaking your European allies have been there,” Rutte said.
Trump appeared unconvinced, at times interrupting Rutte to disagree with him, though he praised his leadership.
“You really have done a good job, and I think if anybody else were in that position, we wouldn’t even be meeting today, to be honest with you, because we were let down,” Trump said.
Since Trump’s return to office last year, one of Rutte’s primary roles has been managing the president’s hostility toward the alliance and preventing tense moments, including Trump’s push to acquire Greenland, from spiralling into lasting crises.
Namita Singh25 June 2026 06:40
Trump meets munitions makers amid push to replenish weapons stockpiles
US president Donald Trump met with munitions makers at the White House on Wednesday as his administration pushed to expand weapons production after military operations in Iran and other conflicts drew down US stockpiles.
The United States has supplied large quantities of weapons to allies while also using munitions in its own military operations, raising concerns about inventories of key air-defence and precision-guided weapons, and increasing pressure on contractors to boost output.
Two people briefed on the meeting said it ran longer than expected because everyone was given time to speak. The sources said deputy defence secretary Steve Feinberg at times pushed back on industry claims about production progress, citing delays on key programs. One source said the initial message to executives was “you’re not doing enough”.
By the end, the tone had shifted toward cooperation, with officials saying the goal was to “get on a war footing” and work together to speed up production.
The White House did not immediately respond to a request for details on the meeting and the topics discussed. The meeting marks the second White House gathering with chief executives of major defence firms focused on ramping up weapons production.
A March meeting included the CEOs and other officials from BAE Systems, Lockheed Martin, Northrop Grumman, RTX Corp, Boeing, Honeywell Aerospace and L3Harris Technologies, along with defence secretary Pete Hegseth.
Namita Singh25 June 2026 06:20
IRGC: New Hormuz route announced without Iran coordination is unacceptable, dangerous
Iran’s Revolutionary Guards Corps on Thursday said safe passage through the Strait of Hormuz is only possible through routes designated by Iran, and that a new route announced without coordination with Iran is unacceptable and a safety risk.
IRGC said it will take action against vessels that fail to comply with the requirements.
Namita Singh25 June 2026 06:00
Israel, Lebanon meet in Washington to discuss US-backed proposal for Israeli forces to pull out
Lebanon and Israel discussed a US-backed proposal for Israeli forces to pull out of some of the territory it invaded in the war and hand it to Lebanese army control. During the discussion in Washington, Israeli prime minister Benjamin Netanyahu said Israel would not pull troops out of the region.
Israel has been battling Hezbollah in Lebanon since the militant group attacked Israel on 2 March in support of Iran, and Tehran has made a cessation of hostilities there a central tenet of its demands in any peace deal with the US.
An Israeli drone strike on a car in southern Lebanon killed at least two people on Wednesday, Lebanese sources told Reuters, while Israel said it struck two armed Hezbollah fighters. It was not immediately clear if the incidents were the same.
Namita Singh25 June 2026 05:40
GOP senator was ‘yelling’ at Trump over Iran war in tense closed door meeting: report
GOP senator was ‘yelling’ at Trump over Iran war in tense meeting: report
Bill Cassidy reportedly called Trump ‘brother,’ and Trump described him as a ‘lunatic’Graeme Massie25 June 2026 05:20
Middle East allies of the US sceptical about proposed peace deal with Iran
The proposed peace deal between US and Iran has been met with scepticism in the Middle East, where many states came under attack from Iran during the war and view the accord as too generous to Tehran, including a $300bn fund and the waiver of some sanctions.
Washington’s Gulf allies fear the reconstruction fund could help Iran to rebuild its military.
The accord also does not address Tehran’s ballistic missile capacity. The deal requires Iran to allow shipping to flow freely through the Strait of Hormuz for 60 days, and Tehran has suggested it might impose tolls after that point. Iran could propose environmental, navigation and security fees in upcoming talks with Gulf states, according to a diplomat briefed on the talks.
Washington and its Gulf allies oppose such fees.”We’re not going to do anything that undermines the security of our allies, our longstanding allies in the region,” US secretary of state Marco Rubio said in Kuwait City, where the US embassy resumed operations after a months-long stoppage due to the war.
Namita Singh25 June 2026 05:00NewerOlder