Iran’s currency hit a fresh record low of over 2.5 million rials per dollar, just 27 days after breaching 2.2 million, as US sanctions and a naval blockade squeeze Tehran’s oil revenue.
Trump denies offering Iran sanctions relief as Strait of Hormuz oil exports surge to war-time highs. Indirect talks continue via Qatari mediators after seven months of conflict.
Brent crude climbs toward $106 and gold slips as the US-Iran standoff over the Strait of Hormuz drags on, with Trump predicting pre-midterm strikes and a swift end to the conflict.
Russia deployed 2,200 attack drones and 38 missiles against Ukraine in a week, while Iran’s military warns of further escalation near the Strait of Hormuz.
Iran proposes reopening the Strait of Hormuz within a week if US conditions are met, as Brent crude dips to $105.56 and Trump presses Xi over Chinese support for Tehran.
Trump and Xi extend their trade truce by two months, easing tariffs and rare earth curbs, while Beijing presses Washington on Taiwan and a $14 billion arms deal remains stalled.
Jaishankar and Rubio spar over the Russia-Iran sanctions act at the UN as India’s markets react. Here’s what the SRIA could mean for energy prices and your portfolio.
US Secretary of State Marco Rubio and India’s EAM Jaishankar discussed potential sanctions on states trading with Russia and Iran, plus a law allowing up to 100% tariffs on Russian oil buyers.
Riyadh has appealed to Beijing to restrain Houthi advances near Bab el-Mandeb, highlighting China’s growing economic leverage across Middle East oil routes.
US Treasury Secretary Scott Bessent says all Iranian airlines will be shut down globally from September 23 via secondary sanctions, pushing oil prices higher.
