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Oil Prices Rise, Stocks Fall as Trump’s Iran Deadline Looms

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Oil prices climbed sharply while global stocks wavered and mostly declined on Tuesday as President Donald Trump’s looming deadline for Iran to reopen the Strait of Hormuz or face escalated U.S. strikes heightened geopolitical tensions and investor anxiety.

Brent crude futures rose about 1% to trade near $111 per barrel, with U.S. West Texas Intermediate crude also pushing higher amid fears that prolonged disruption to the critical waterway through which a significant portion of global oil supplies passes could worsen energy shortages. Oil has surged more than 50% since the conflict intensified.

Meanwhile, major U.S. stock indexes showed mixed but largely cautious trading, with many shares slipping as investors weighed the risk of further military escalation, including potential strikes on Iranian power plants and infrastructure.

European and Asian markets were similarly tentative, reflecting broader concerns over inflation, energy costs, and economic fallout from the ongoing Middle East conflict.

Trump has set a firm deadline of 8 p.m. ET Tuesday (1 a.m. GMT Wednesday) for Iran to reach a deal and reopen the strait, warning of decisive action if unmet. He has threatened to “decimate” Iranian bridges and power plants, stating the country “could be taken out in one night.

”Iran has rejected recent ceasefire proposals, calling instead for a permanent end to hostilities, while markets remain on edge with no clear resolution in sight.

Analysts warn that sustained high oil prices could fuel global inflation and slow economic growth, though some investors still hope for a last-minute diplomatic breakthrough.

The developments come as the International Energy Agency has described the current oil and gas crisis linked to the Hormuz blockade as potentially more severe than previous major shocks combined.

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International

Democrats Win US midterm elections

Trump acknowledges the Iran war, and the rising cost of living, were factors in his Republican Party’s defeat – as the White House posts on social media: “Trump is still your president”

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US President Donald Trump

The Democrats win the Senate and the House in US midterm elections, taking control of Congress for the rest of Donald Trump’s tenure.

Voters in conservative bastions who had propelled the president to his second term in office just two years ago swung dramatically toward Democrats, fueled by deep frustration over the unpopular war with Iran, anxiety over the high cost of living and anger at ‌Trump’s stewardship of the country.

Trump acknowledges the Iran war, and the rising cost of living, were factors in his Republican Party’s defeat – as the White House posts on social media: “Trump is still your president”

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In Texas, the biggest Republican state, Democrats ended a decades-long losing streak in seismic fashion, winning a Senate seat and ousting three-term Governor Greg Abbott.Kansas elected its first Democratic senator since the Great Depression nearly a century ago, and in South Carolina, a state that Trump carried by nearly 18 points in 2024, Democrats turned aside his hand-picked Senate candidate.The results will usher in a new era of divided government in Washington, following two years in which the Republican-controlled Congress rarely exercised its power to rein in Trump.

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JUST IN: Plane Crash Near Trump’s Florida Home Kills All 9 Aboard

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A private Learjet 60 crashed into a residential neighborhood in Palm Beach County, Florida, on Sunday afternoon, killing all nine people on board, officials confirmed.

The aircraft, flying from Austin, Texas, to the Bahamas, went down around 12:50 p.m. local time near Cresthaven/Greenacres, roughly 7–11 kilometers (about 4–7 miles) from President Donald Trump’s Mar-a-Lago resort.

It struck near a busy roadway at the entrance to a mobile-home community, creating a large fireball and leaving a crater in the road. Debris was scattered across a wide area, and nearby power and water lines were damaged.

Transportation Secretary Sean Duffy called the crash a “horrific tragedy” and confirmed there were no survivors among the nine occupants.

Florida Governor Ron DeSantis described the impact as “cataclysmic,” saying it “looked like a missile going down.” No injuries were reported among people on the ground. About 600 residents of a nearby mobile-home park were evacuated.

Trump had been at Mar-a-Lago earlier Sunday but departed on Air Force One from the nearby airport about an hour before the crash.

The National Transportation Safety Board is leading the investigation, with support from the Federal Aviation Administration.

Early reports noted the crew had discussed moderate turbulence and ice shortly before the steep descent.

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Tens of thousands protest against Narendra Modi regime in Delhi

The protest was one of the largest shows of opposition strength in years, taking place amid a wider resurgence of anti-government dissent which has been systematically crushed over the 12 years of the Modi regime.

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Thousands of opposition supporters have gathered in Delhi as protests against the Narendra Modi government continue to gather momentum.

Led by the Congress party, India’s opposition alliance has brought together supporters from across the country, amid growing anger over a large-scale revision of the country’s voter roll that has seen 130 million names erased.

Opposition leaders have alleged the process gives Modi’s ruling Bharatiya Janata party (BJP) an electoral advantage, and have called for the resignation and impeachment of the chief election commissioner, Gyanesh Kumar.

The BJP has denied the claims.

Addressing tens of thousands of party workers and supporters, the opposition leader Rahul Gandhi said Kumar had “carried out the biggest crime. He has tried to silence the voice of people, strangulate our country.”

Gandhi said the opposition, united under the acronym India (Indian National Developmental Inclusive Alliance), would not let “democracy be finished in the country” and warned Modi: “You can’t run anywhere.”

The protest was one of the largest shows of opposition strength in years, taking place amid a wider resurgence of anti-government dissent which has been systematically crushed over the 12 years of the Modi regime.

The Guardian Uk

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