OPEC cuts oil demand outlook as Hormuz disruption persists
LONDON, U. K. : OPEC cut its forecast for global oil demand growth in 2026 on May 13, citing the impact of the Iran war and the disruption of energy supplies through the Strait of Hormuz.
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"2 LPG carrier vessels crossed Strait of Hormuz, expected to arrive at Kandla Port on May 16": Shipping Ministry
New Delhi [India], May 14 (ANI): The Ministry of Ports, Shipping and Waterways on Thursday confirmed that two LPG carrier vessels bound for India have safely passed through the Strait of Hormuz, even as an Indian sailing vessel reportedly sank following an incident in Omani waters amid the West Asia conflict.
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President Trump has "good meeting" with Chinese President; US, China agree that Strait of Hormuz "must remain open"
Washington DC [US]/ Beijing [China], May 14 (ANI): US President Donald Trump had a 'good meeting' with Chinese President Xi Jinping in Beijing on Thursday, with the two sides agreeing that the Strait of Hormuz 'must remain open to support the free flow of energy'.
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Canada weighs buying Turkish drones it sanctioned in 2019
Canada weighs buying Turkish drones it sanctioned in 2019 Submitted by Ragip Soylu on Thu, 05/14/2026 - 11:42 Ottawa's drone interest reflects a wider defence procurement shift as Carney prepares for an October visit to Turkey A Baykar Akinci combat drone seen from an Azerbaijani air force Mikoyan MiG-29 as it flies over Baku in May 2022 (Handout/Baykar Defence/AFP) Off When Canada imposed an arms sales ban on Turkey in 2019 over Ankara’s military incursion into Syria , Turkish drone makers Baykar and TAI were among the companies most affected. Both firms had been using electro-optical (EO) and infrared (IR) cameras produced by Canadian manufacturer Wescam. The embargo forced them to seek alternative suppliers, including domestic companies.
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Rupee to depreciate more if the conflict continues to linger: Report
New Delhi [India], May 14 (ANI): The Indian rupee could face further depreciation if the West Asia conflict continues for a prolonged period, with higher crude oil prices likely to keep pressure on India's economy and external balances, according to an ICICI Bank research report.
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Gulf Cooperation Council banks may shift to private loans amid West Asia conflict: Fitch Ratings
New Delhi [India], May 14 (ANI): Banks across the Gulf Cooperation Council (GCC) are likely to shift their focus toward private placements and syndicated loans if the conflict involving Iran continues, according to a recent report from Fitch Ratings. 'GCC banks are likely to make greater use of private placements and syndicated loans if the Iran conflict persists,' it noted.
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Inside the rise of the Haftar family’s Dubai-based 'money man'
Inside the rise of the Haftar family’s Dubai-based 'money man' Submitted by Oscar Rickett on Thu, 05/14/2026 - 07:30 Ahmed Gadalla controls companies in Libya, the UAE, Malta and the UK, and is accused of being a central figure in the Haftars' illicit operations – allegations he denies Saddam Haftar, pictured in 2025, son of eastern Libyan commander Khalifa Haftar, is said to have helped Ahmed Gadalla's rise (Social media) Off He is a Libyan businessman who lives in Dubai and carries a passport issued by the Caribbean island of Saint Kitts and Nevis. According to Italian media reports, he wears $500,000 watches , flies on private jets and stays at five-star hotels in central London. He is said to own at least eight properties in the United Arab Emirates and a $3.
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US federal judge blocks US sanctions against UN's Francesca Albanese
US federal judge blocks US sanctions against UN's Francesca Albanese Submitted by MEE staff on Thu, 05/14/2026 - 05:57 The special rapporteur on Palestine was sanctioned after recommending the International Criminal Court to pursue war-crimes prosecutions against Israeli and American nationals United Nations (UN) special rapporteur on the occupied Palestinian territories Francesca Albanese presents her latest report before delegates at the UN Rights Council, in Geneva, on 23 March 2026. (Fabrice Coffrini/AFP) Off A federal judge on Wednesday temporarily blocked US sanctions against United Nations Special Rapporteur on Palestine Francesca Albanese , saying that the administration of Donald Trump likely violated her free-speech rights. Albanese was sanctioned in July 2025 following her public criticism of Israel's war on Gaza and scathing report on 30 June in which she named over 60 companies, including major US technology firms like Google, Amazon and Microsoft, which she said were involved in "the transformation of Israel's economy of occupation to an economy of genocide".
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US embargo on Hormuz Strait hits Cuba's energy stock
US embargo on Hormuz Strait hits Cuba's energy stock Cuba's Energy Minister said on Wednesday that the country has completely run out of fuel as a result of the US blockade on the Strait of Hormuz. "We have absolutely no fuel (oil), and absolutely no diesel," Vicente de la O Levy said on state-run media. "We have no reserves.
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Chinese-linked ships cross Strait of Hormuz on eve of Trump-Xi meeting
Chinese-linked ships cross Strait of Hormuz on eve of Trump-Xi meeting Submitted by MEE staff on Wed, 05/13/2026 - 20:37 Chinese supertanker carrying two million barrels of Iraqi crude crossed the waterway before turning off its transponder A woman crosses a street near a billboard on the facade of a building depicting the Strait of Hormuz, with a caption in Persian reading 'Forever in Iran’s Hand', in Vanak Square in Tehran, Iran, on 6 May 2026 (AFP) Off Multiple ships linked to China transited the Strait of Hormuz in the last 24 hours, coinciding with US President Donald Trump’s arrival in Beijing, where he says he plans to discuss the war on Iran with his Chinese counterpart. The most watched vessel is a Chinese supertanker carrying two million barrels of Iraqi crude. It sailed through the Strait of Hormuz on Wednesday before turning off its transponder somewhere in the Gulf of Oman, according to ship tracking data.
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India-bound LPG tanker MV Sunshine crossing Strait of Hormuz; Indian Navy, agencies provide all support: Sources
New Delhi [India], May 14 (ANI): The India-bound LPG tanker MV Sunshine is crossing the Strait of Hormuz and is being provided all support to move safely towards India, as per sources. According to sources, this was the 15th LPG Ship bound for India to be safely evacuated from the Persian Gulf.
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Chinese Firms Plot Secret Arms Sales to Iran, U.S. Officials Say
The effort involves plans to send weapons through other countries in an effort to hide the origins of the shipments.
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An Uncertain World Awaits the Reopening of the Strait of Hormuz
Fatih Birol of the International Energy Agency, who orchestrated a multinational release of oil reserves, detailed the risks facing the economy now and beyond.
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EU Sanctions on Israeli Occupiers over West Bank Violence Hailed
TEHRAN (Tasnim) – The European Union’s decision to sanction extremist Israeli occupier organizations and individuals involved in illegal settlement activities and violence against Palestinians, drew praise from Palestine.
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South Korea to consider phased contribution to US maritime security initiative in Strait of Hormuz
Seoul [South Korea], May 13 (ANI): South Korea has said it will review making phased contributions to a United States-led initiative referring to President Donald Trump's 'Project Freedom' aimed at ensuring safe passage of commercial vessels in the Strait of Hormuz, Yonhap News Agency reported.
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US State Department announces $15 million reward for information on Iran's IRGC financial mechanisms
Washington DC [US], May 13 (ANI): The US Department of State has announced a reward of up to USD 15 million for information on financial mechanisms linked to Iran's Islamic Revolutionary Guard Corps (IRGC) as part of expanded sanctions and pressure measures targeting Tehran's alleged illicit oil and funding networks amid the conflict in West Asia.
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Chinese supertanker reportedly transits Strait of Hormuz
Chinese supertanker reportedly transits Strait of Hormuz A Chinese crude oil supertanker identified as Yuan Hua Hu was reportedly transiting the Strait of Hormuz on Wednesday, according to media reports and Al Jazeera reported quoting ship-tracking data. Monitoring services showed the vessel moving through the strategically important waterway while heading south out of the Gulf region. Reports said the tanker passed near Lark Island on the eastern side of the strait during its transit.
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US offers $15m reward over information on Iran-linked oil transfers
US offers $15m reward over information on Iran-linked oil transfers The United States Department of State announced a reward of up to $15 million for information related to oil shipments connected to the Islamic Revolutionary Guard Corps (IRGC) and its facilitators. In a statement issued through the Rewards for Justice Program, Washington said it was seeking information about IRGC-linked oil deliveries, the tankers and entities involved, and individuals connected to what it described as illicit transfers. The announcement forms part of the United States’s broader pressure campaign against Iran, which has included sanctions targeting oil exports, shipping networks and financial channels linked to the IRGC.
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Oil prices fall as markets watch Iran ceasefire and China talks
Oil prices fall as markets watch Iran ceasefire and China talks Oil prices fell on Wednesday after three consecutive days of gains, as investors monitored the fragile ceasefire involving Iran, the United States and Israel, along with developments surrounding President Donald Trump’s visit to China for talks with President Xi Jinping. Brent crude futures dropped 82 cents, or 0. 76 percent, to $106.
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Abu Dhabi sanctions 21 people and groups over Hezbollah links, state media reports
Abu Dhabi sanctions 21 people and groups over Hezbollah links, state media reports The United Arab Emirates has designated 16 Lebanese nationals and five Lebanon-based entities as “terrorists” over alleged links to Hezbollah, according to the state-run Emirates News Agency. The report said UAE authorities ordered regulatory bodies to identify individuals and companies connected to those listed and freeze related assets within 24 hours in line with national laws. WAM said the decision reflected the UAE’s commitment to combating terrorism, extremism and the financing of armed groups, describing the move as part of broader efforts to strengthen regional and international security.
