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Oil prices surge as stock markets tumble amid US-Israel-Iran tensions
Crude oil prices surged sharply while global stocks fell, as investors reacted to the fallout from the US-Israeli attacks on Iran.
Brent crude climbed as much as 13 percent in Asia on Monday morning before easing slightly, with the international benchmark trading around $76.48 per barrel by midday Tokyo time, up about 5 percent.
Asian equities opened lower, with Hong Kong’s Hang Seng Index down roughly 2 percent and Japan’s Nikkei 225 falling about 1.5 percent.
In the US, stock futures—which trade outside regular market hours—showed notable declines, pointing to a volatile session ahead on Wall Street. Futures tracking the S&P 500 and Nasdaq Composite both fell roughly 0.7 percent.
Iran continues to strike US assets across the Gulf after the killing of Supreme Leader Ayatollah Ali Khamenei and up to 40 top Iranian officials.
The attacks have killed one person in Bahrain, with Iraq and Kuwait reporting more Iranian raids.
Israel says it is striking at the ‘heart of Tehran’ and is launching attacks on Lebanon after Hezbollah fired a barrage of rockets at northern Israel.
Iranian state media says Israeli attacks have killed at least 20 people in Tehran’s Niloofar Square and caused damage to the Gandhi Hospital and a police building.”
Iran’s retaliatory strikes on Israel have hit the cities of Tel Aviv and Jerusalem, and killed at least nine people in the central city of Beit Shemesh.
US President Donald Trump has warned that attacks on Iran will continue until all of Washington’s objectives are achieved, and has promised to avenge the deaths of three American soldiers.
Source: Al jazeera
5 days ago
Did Trump need Congress approval to attack Iran?
US President Donald Trump announced the launch of what he called “major combat operations” against Iran, raising renewed debate in Washington over whether the White House needed approval from Congress before carrying out the attacks.
The United States, acting alongside Israel, began large-scale air operations early Saturday under an operation named “Epic Fury”, while Israel has referred to its campaign as “Lion’s Roar”. The strikes came two days after US-Iran talks on Tehran’s nuclear programme ended without agreement and were followed by Iranian retaliatory attacks across the Middle East.
Under the US Constitution, Congress holds the power to formally declare war, but it has not done so in this case. At the same time, constitutional provisions grant the president broad authority to order military action, creating a long-standing grey area that has repeatedly fuelled political and legal debate.
Reactions on Capitol Hill have largely split along party lines. Republicans, who currently control both chambers of Congress, have mostly backed the strikes. House Speaker Mike Johnson said the administration had briefed the so-called “Gang of Eight”, a bipartisan group of senior congressional leaders, ahead of the operation.
Democrats, however, criticised the decision, accusing Trump of launching a war without congressional authorisation. They renewed calls for a war powers resolution that could restrict the president’s ability to use force without explicit approval from Congress, although such a measure is seen as unlikely to pass given limited Republican support.
According to US Central Command, three US service members have been killed in action and five seriously injured during the conflict. Iranian authorities say more than 200 people have been killed and over 700 wounded in air strikes across Iran, including at least 165 people, many of them children, in an explosion at a school in the south of the country.
Iranian missiles have also struck Israel, killing at least nine people in the central town of Beit Shemesh and causing casualties in Tel Aviv, Israeli media reported. Iran has also targeted US-linked facilities and allies in Bahrain, Kuwait, Qatar and the United Arab Emirates, where casualties were reported at airports in Abu Dhabi and Dubai.
Trump has defended the strikes by accusing Tehran of pursuing nuclear weapons, developing long-range missiles and orchestrating attacks through regional proxies. He has also cited past incidents, including the 1979 seizure of the US embassy in Tehran and the 1983 bombing of a US Marine barracks in Beirut, as justification for military action.
The conflict has already claimed senior Iranian leaders. Trump announced that Supreme Leader Ali Khamenei was killed in the strikes, a claim later confirmed by Iranian state media, which declared 40 days of mourning. Trump has said dozens of senior Iranian figures were eliminated in the operation.
US officials have said there are no plans to deploy ground troops in Iran. Instead, the campaign is expected to rely on sustained air and naval operations. The US currently has tens of thousands of troops stationed across the Middle East and has deployed two aircraft carriers to the region.
While Iran denies seeking nuclear weapons, international concern remains high. US and Israeli officials say the operation is aimed at eliminating what they describe as an urgent threat, as lawmakers in Washington continue to debate the limits of presidential war powers and the role of Congress in authorising military action.
With inputs from BBC
5 days ago
Trump, Israel claim Khamenei killed ; Iran denies
US President Donald Trump has said that Iran’s Supreme Leader Ayatollah Ali Khamenei is dead following joint US-Israeli strikes on Iran.
In a post on his Truth Social platform, Trump said the 86-year-old leader was killed in coordinated attacks that began early Saturday.
“He was unable to avoid our Intelligence and Highly Sophisticated Tracking Systems and, working closely with Israel, there was not a thing he, or the other leaders that have been killed along with him, could do,” the US president wrote.
“This is the single greatest chance for the Iranian people to take back their Country,” he said. “Hopefully, the IRGC [Islamic Revolutionary Guard Corps] and Police will peacefully merge with the Iranian Patriots.”
Earlier, Israeli Prime Minister Benjamin Netanyahu said there were “growing signs” that Khamenei had been killed. The Reuters news agency, quoting a senior Israeli official, also reported that Khamenei’s body had been located.
However, Iran’s Tasnim and Mehr news agencies said Khamenei remained “steadfast and firm in commanding the field”.
In what appeared to be a rebuttal, the head of public relations at Khamenei’s office accused Iran’s adversaries of engaging in “mental warfare”.
“The enemy is resorting to mental warfare; all should be aware,” the official was quoted as saying by Iranian state media.
Reporting from Tehran, Al Jazeera correspondent Tohid Asadi said there has been no official confirmation from Iranian authorities regarding Khamenei’s death. He noted that Iran’s Foreign Minister Abbas Araghchi told NBC News earlier that, “as far as I know”, the supreme leader and other senior officials were in good health.
Khamenei has served as Iran’s Supreme Leader since 1989, succeeding the late founder of the Islamic Republic, Ayatollah Ruhollah Khomeini, who led the 1979 revolution. The Supreme Leader wields ultimate authority over the government, armed forces and judiciary, and also holds the country’s highest religious position.
Barbara Slavin, a distinguished fellow at the Stimson Center in Washington, told Al Jazeera that Iran “has a plan” should Khamenei’s death be verified.
“There will probably be a council that will be set up to run the country. It may already have been running the country, as far as we know,” she said.
Strikes Continue, Casualties Mount
Saturday’s assaults reportedly hit 24 provinces, leaving at least 201 people dead, according to Iranian media citing the Iranian Red Crescent Society.
Among the sites targeted were two schools. Israeli strikes reportedly killed at least 108 people at the Shajareh Tayyebeh girls’ elementary school in the southern city of Minab, and two others at a school east of Tehran.
Netanyahu said several “senior figures” had been “eliminated” in attacks targeting top leaders, while Trump urged the overthrow of Iran’s government. Israel had killed “commanders in the Revolutionary Guard and senior officials in the nuclear programme. And we will continue,” Netanyahu said.
Trump wrote that “heavy and pinpoint bombing” would persist “uninterrupted throughout the week or, as long as necessary”.
Iran’s retaliatory strikes later triggered air-defence responses in countries hosting US military assets, including Kuwait, Qatar, United Arab Emirates and Bahrain.
The Islamic Revolutionary Guard Corps said the third and fourth waves of “retaliatory” attacks were under way, according to IRNA.
UN Urges De-escalation
At a rare emergency session of the UN Security Council, Secretary-General Antonio Guterres expressed regret that a diplomatic opportunity had been “squandered”.
“Military action carries the risk of igniting a chain of events that no one can control in the most volatile region of the world,” he said. “I call for de-escalation and an immediate cessation of hostilities”.
Guterres added he could not confirm Israeli reports of Khamenei’s death.
Iran’s UN ambassador, Amir Saeid Iravani, told the council that the US and Israel had “initiated an unprovoked and premeditated aggression”.
“This is not only an act of aggression, it is a war crime, and a crime against humanity,” he said, condemning attacks on populated urban areas.
US Ambassador to the UN Mike Waltz defended the operation as lawful. “Iran cannot have a nuclear weapon,” he said. “That principle is not a matter of politics. It’s a matter of global security.”
China’s UN envoy Fu Cong voiced concern over “the sudden escalation of regional tensions”, while Russia’s ambassador Vassily Nebenzia condemned the US-Israeli strikes and urged them to “immediately cease their aggressive actions”.
6 days ago
Trump warns Iran developing missiles that could threaten Europe
US President Donald Trump on Saturday said Iran is developing long-range missiles capable of threatening Europe, US troops abroad, and potentially the American homeland.
Posting on Truth Social, Trump said Iran “attempted to rebuild their nuclear program and to continue developing long range missiles that can now threaten our very good friends and allies in Europe, our troops stationed overseas and could seen reach the American homeland.”
He added that the US is conducting a “massive” operation to “prevent this very wicked radical dictatorship from threatening America.”
Trump also said the US has not made any “final decision” on striking Iran, expressing his dissatisfaction with Tehran’s stance in ongoing nuclear negotiations.
He said Iran was “not willing to give us what we have to have,” stressing that Iran “cannot have nuclear weapons.”
Indirect talks between the two countries were held earlier this week in Geneva, with both sides reporting progress toward a possible agreement.
Trump reiterated that Washington is “ready, willing, and able” to act “with speed and violence, if necessary,” while acknowledging the risk of an extended conflict in the Middle East. “When there’s war, there’s a risk of anything – both good and bad,” he said.
6 days ago
Democrats allege justice department withheld Epstein files naming Trump
A senior Democrat on the House Oversight Committee has accused the US justice department of withholding documents linked to allegations made during federal investigations into late financier Jeffrey Epstein that reference President Donald Trump.
Representative Robert Garcia, the top Democrat on the committee, said he personally reviewed unredacted records that contain allegations of sexual abuse of a minor against Trump which have not been released publicly. He said the missing material relates to interviews conducted by federal investigators and is absent from the files already disclosed by the justice department.
The United States Department of Justice rejected the accusation, saying no files had been deleted. It said documents were withheld only if they were duplicates, legally privileged, or part of an ongoing investigation. The department has also said some records include false or sensational claims against Trump.
Trump has repeatedly denied any wrongdoing in connection with Epstein and has said he has been fully exonerated.
The White House said the administration has cooperated extensively by releasing thousands of pages of records, complying with congressional subpoenas and signing legislation allowing staged disclosure of Epstein-related files, while protecting victims and active investigations.
Epstein, a convicted sex offender who died in jail in 2019, was known to have social ties with Trump in the past, though Trump has said the relationship ended years before Epstein’s first arrest. The justice department has released millions of pages tied to federal probes into Epstein, with some records redacted or withheld under the law.
Garcia said the documents he reviewed show that a woman made additional, specific allegations against Trump that do not appear in the publicly released material. As a member of Congress, he is permitted to view unredacted files as the House Oversight Committee conducts its own inquiry.
He said Democrats would press for the release of the remaining records, including interviews related to the accuser. Garcia has written to Attorney General Pam Bondi demanding publication of the material.
In response, the justice department accused Democrats of misleading the public and said it would review whether any files were improperly withheld. Committee chairman James Comer, a Republican, said lawmakers are still seeking a definitive answer on the issue.
US media reports, including by NPR and The New York Times, have said indexes suggest multiple FBI interviews with an alleged Epstein victim were conducted but not fully released. One heavily redacted document indicates the woman alleged abuse by Epstein as a minor, while other entries reference an allegation involving Trump during the mid 1980s. Investigators marked the allegation for follow up, though no corroboration or credibility assessment is evident in the released records.
The justice department has said such claims are unfounded and would have been acted upon if credible. Searches of the publicly available files do not show summaries of the additional interviews referenced in the indexes.
The woman, with matching biographical details, was among several alleged Epstein victims who filed a civil lawsuit against his estate in 2019, alleging trafficking and abuse by men linked to Epstein. The suit did not name the men and was later withdrawn.
Epstein’s longtime associate Ghislaine Maxwell was convicted of sex trafficking in 2022. Trump appears in some of the released Epstein files, though officials have said inclusion does not imply wrongdoing.
In previously released emails, Epstein discussed Trump years after their association ended. The White House has said references to a victim in those emails pointed to the late Virginia Giuffre, who had stated that Trump was not involved in abuse and had been friendly in limited interactions.
The allegations and responses were reported by the BBC, as Democrats continue to demand full disclosure of all Epstein-related records.
With inputs from BBC
8 days ago
Hillary Clinton testifies in Epstein probe
Former US Secretary of State Hillary Clinton appeared before the House Oversight Committee on Thursday to provide testimony in the ongoing investigation into late financier Jeffrey Epstein’s crimes.
Hillary Clinton, along with her husband, former President Bill Clinton, had initially resisted congressional demands to testify, calling them politically motivated. Their decision to appear came after potential contempt-of-Congress proceedings were considered.
Hillary Clinton told the panel she does not recall meeting or speaking with Epstein, though she met his convicted associate Ghislaine Maxwell on a few occasions. Maxwell had attended the wedding of the Clintons’ daughter, Chelsea, in 2010. Bill Clinton has acknowledged knowing Epstein but denies any wrongdoing or knowledge of his crimes. He is scheduled to testify on Friday.
In an interview last week, Hillary Clinton described the deposition as a Republican effort to shift attention from questions about President Donald Trump’s ties to Epstein. She said, “We have nothing to hide” and called for full public release of related files.
Some Democratic committee members had supported initiating contempt proceedings before the Clintons agreed to testify. The couple has called the investigation “partisan politics” and said legal summonses were intended to embarrass political rivals. Nevertheless, they agreed to testify to set a precedent that “no one is above the law,” according to Bill Clinton’s spokesperson.
The hearings are being held near the Clintons’ home in Chappaqua, New York. Unlike typical depositions, they have requested parts of their testimony be public to prevent selective leaks.
This will be the first time a former US president has testified before a congressional panel since Gerald Ford in 1983. Committee members from both parties are expected to brief reporters following Hillary Clinton’s testimony.
The House probe has also released documents showing Epstein’s connections to several high-profile individuals, including former and current US officials. Appearances in the files do not imply wrongdoing. The depositions are seen as an effort to clarify the Clintons’ limited involvement with Epstein and related associates.
With inputs from BBC
8 days ago
Four dead in Washington stabbing, attacker killed by responding deputy
A man stabbed four people to death in Washington state on Tuesday morning as sheriff’s deputies were on their way to serve him a domestic violence protection order, authorities said. The suspect was later shot dead by a deputy who arrived at the scene.
According to the Pierce County Sheriff’s Office, deputies first received a call around 8:40 a.m. that a 32-year-old man was violating a no-contact order at a home on the Key Peninsula, northwest of Tacoma. After confirming the order had not yet been formally served, officers headed to the address to deliver it.
While they were on the way, fresh reports came in around 9:30 a.m. that the man was stabbing people outside the home. The first deputy reached the location within minutes and shot the suspect, who died at the scene. Three victims were found dead there, while another died on the way to hospital.
Court records show that the suspect’s mother, who lived at the home, had obtained a one-year protection order against her son last May, citing mental health and substance abuse issues, past physical aggression and repeated threats. She said he had been mentally and emotionally abusive, damaged property and hurt her cat, adding that she was an elderly disabled woman being taken advantage of.
The order required him to stay away from his mother and not possess dangerous weapons, and to follow a mental health treatment plan. It remains unclear why the order had not yet been formally served.
A nearby resident said he heard several gunshots echo through the area, followed by continuous sirens, before learning of the tragic incident.
9 days ago
Trump hails ‘winning’ streak in State of the Union, seeks to soothe economic worries before midterms
Donald Trump used his State of the Union address on Tuesday to project confidence and momentum, declaring that the United States is “winning so much” as he tried to ease voter anxiety about the economy ahead of November’s midterm elections.
Facing slipping approval ratings, Trump focused on persuading skeptical Americans that economic conditions are stronger than many feel and that Republicans deserve continued support. He highlighted job growth, a revival in manufacturing and what he described as a reshaped global order under his leadership.
Seeking bipartisan appeal, Trump orchestrated several television-ready moments, including welcoming the Olympic gold medal-winning U.S. men’s hockey team to the House chamber after their visit to the White House. The players, wearing their medals and USA jerseys, received a standing ovation from both sides of the aisle. Trump also announced that goaltender Connor Hellebuyck would receive the Presidential Medal of Freedom.
The president introduced few major new policy proposals early in the speech, but portrayed his presidency as a historic turnaround. He praised his immigration crackdown, efforts to shrink the federal government and use of military force abroad, including actions involving Iran and Venezuela.
Trump also criticized the Supreme Court of the United States for striking down his signature tariff policies, calling the ruling unfortunate and vowing to find ways to preserve the levies without relying on Congress or unsettling financial markets. Several justices, including Chief Justice John Roberts, attended the address.
According to a White House official, Trump plans to announce that technology companies involved in artificial intelligence will pay higher electricity rates in areas hosting their data centers, arguing that their heavy power use strains local grids.
Before the speech, Senate Democrats blocked a bill to restore funding to the Department of Homeland Security, pressing for limits on immigration enforcement. Trump plans to demand the immediate restoration of all border security funding.
Despite his optimistic tone, affordability remained a central political challenge. While Trump has repeatedly claimed inflation is under control and pointed to record highs in the Dow Jones Industrial Average, many Americans continue to feel squeezed by high living costs.
Critics also warn that tariffs may be contributing to higher prices and slowing economic growth.
Democrats plan to counter Trump’s address with a response from Abigail Spanberger, while some Democratic lawmakers boycotted the speech in protest.
On foreign policy, Trump spoke as U.S. aircraft carriers were deployed to the Middle East amid rising tensions with Iran.
He again cited last summer’s airstrikes on Tehran’s nuclear facilities and touted diplomatic efforts in the Middle East, while critics note strains with NATO allies and his approach to Vladimir Putin over the war in Ukraine, now in its fourth year.
10 days ago
US military boards third sanctioned oil tanker in Indian Ocean
U.S. military forces have boarded a third sanctioned oil tanker in the Indian Ocean after tracking the vessel from the Caribbean Sea, the Pentagon said Tuesday, in an effort to curb illicit oil linked to Venezuela.
U.S. Southern Command said in a post on X that American forces boarded the tanker Bertha overnight, carrying out a “right-of-visit, maritime interdiction and boarding” operation. According to the statement, the vessel had been operating in defiance of President Donald Trump’s quarantine on sanctioned ships in the Caribbean and attempted to evade monitoring.
Officials said the tanker was tracked across oceans before being intercepted in the Indian Ocean.
Venezuela has faced U.S. sanctions on its oil sector for years and has reportedly relied on a shadow fleet of falsely flagged tankers to move crude into global supply chains. Trump ordered a quarantine of sanctioned tankers in December as part of efforts to pressure then-President Nicolás Maduro, who was apprehended in January during a U.S. military operation.
The Bertha is registered under the Cook Islands flag and is also listed under U.S. sanctions related to Iran, according to the Treasury Department’s Office of Foreign Assets Control.
Pentagon-released video showed U.S. military helicopters approaching the tanker during the operation. However, the Pentagon did not confirm whether the vessel was formally seized or placed under U.S. control.
The latest boarding is part of broader U.S. efforts to disrupt illicit oil shipments connected to Venezuela’s sanctioned network.
10 days ago
Trump’s new global tariff takes effect at lower-than-expected 10% rate
US President Donald Trump’s new global tariffs have taken effect at 10%, lower than his earlier pledge of a higher rate, after the Supreme Court blocked many sweeping import taxes. Although Trump later mentioned a 15% rate, official documents show the 10% duty was implemented from Tuesday. The White House has been asked for comment.
Carsten Brzeski of ING said the shifting policy added to “chaos and mess,” increasing uncertainty for businesses and raising the risk of retaliation from US trading partners and a possible escalation into a full trade war.
Trump warns of higher tariffs after court blocks levies
An executive order signed Friday said the temporary 10% duty aims to address international payments imbalances and rebalance trade to benefit American workers, farmers and manufacturers. The levy is imposed under Section 122 of the 1974 Trade Act, allowing a 150-day tariff without congressional approval.
Trump argues tariffs are needed to shrink the US trade deficit, which rose 2.1% from 2024 to about $1.2 trillion (£890bn). The US has already collected at least $130bn in tariffs under the 1977 IEEPA, recent data show.
The court ruled Friday Trump exceeded authority using IEEPA, raising prospects of billions in refunds. FedEx has sued for a full refund, while campaign group We Pay The Tariffs says it represents 900 firms seeking automatic refunds. Experts doubt repayments, and Trump said the issue could be litigated for five years. Justice Brett Kavanaugh warned the refund process could be a “mess.”
Greenland rejects Trump’s offer of US hospital ship
Trump criticised the ruling as “ridiculous” and “anti-American” and warned countries “playing games” with trade deals could face higher tariffs. The United Kingdom said reciprocal action was possible if agreements are not honoured, though it stressed no one wants a trade war. The European Union paused ratification of a summer deal, with MEP Brando Benifei urging clarity and coordinated response. India also deferred talks to finalise a recent agreement.
10 days ago