Confusion over the scope of the newly announced US-Iran ceasefire and Israel's military campaign in Lebanon continued to disrupt shipping through the Strait of Hormuz, with industry operators adopting a cautious wait-and-see approach.
The sharp rise in global air cargo rates following the outbreak of war involving the US, Israel and Iran is showing signs of slowing, as a fragile ceasefire allows capacity to gradually return to Middle East markets. The recovery was led by Gulf markets, where the capacity shortfall narrowed to 46% from 53%.
Conflict between the US, Israel and Iran has disrupted Strait of Hormuz shipping, exposing limited export alternatives. Existing pipelines offer partial relief, while proposed routes face major political, security and financial challenges.
The Iran–US–Israel conflict is driving the worst global energy crisis, IEA head Fatih Birol said, calling it the biggest in history, worsened by Russia-related energy shocks and supply pressures global.
US delegation led by Vice President JD Vance met directly with Iranian officials in Pakistan on Saturday — a significant moment for two countries that have typically held high-level talks through intermediaries, a CNN report said.
Sudan is emerging as an unlikely economic beneficiary of the geopolitical upheaval triggered by the Israel-US war on Iran, as disruptions in the Strait of Hormuz force Gulf states to rethink supply chains and food security strategies now more than ever, according to an industry expert.
Israeli forces expanded their bombardment of Iran overnight, striking fuel depots near Tehran as fighting escalated on day nine of the Middle East conflict, while Iranian officials moved closer to naming a new supreme leader despite Israeli threat to kill any replacement for Ayatollah Ali Khamenei, said a report.
One week after the United States and Israel launched military strikes on Iran, plunging the Middle East into turmoil, President Donald Trump faces mounting questions over whether early battlefield gains can translate into a durable geopolitical victory, say experts.
Oil prices extended gains on March 30, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the US-Israel war with Iran in the Middle East.
The risk of an expanded Iran war grew as Yemen's Iran-aligned Houthis on Saturday launched their first attacks on Israel since the start of the conflict, as additional US forces reached the Middle East. The first of two contingents of Marines arrived on an amphibious assault ship.
