“I just feel better if I got it, actually, but it’s I think, it’s more for public relations than it is for anything else,” Trump told Fox News host Sean Hannity when asked about locating and removing Iran’s sensitive nuclear material.

Trump’s comments appeared to soften the urgency surrounding one of Israel’s central war objectives following the joint U.S.-Israeli military campaign launched against Iran on Feb. 28.

Israeli Prime Minister Benjamin Netanyahu recently said the conflict could not be considered finished until Iran’s enriched uranium reserves were removed from the country.

“The war is not over,” Netanyahu said in a recent interview, arguing that the nuclear material “has to be taken out” of Iran.

The remarks highlighted a possible divergence in emphasis between Washington and Tel Aviv as the conflict enters its third month amid mounting regional instability and pressure on global energy markets.

The status of Iran’s nuclear infrastructure and uranium stockpiles has remained a major focus of international concern since the outbreak of hostilities, with Western governments and nuclear experts warning that enriched uranium could become a strategic bargaining point in any future settlement.

Trump made the comments while concluding a diplomatic visit to China, where discussions with Chinese President Xi Jinping included the Iran conflict, global oil flows and the closure of the Strait of Hormuz.

The ongoing war has disrupted regional shipping routes and contributed to volatility in global crude markets, while diplomatic efforts to contain escalation have intensified among major powers.

South Korea’s foreign ministry said the Panama-flagged bulk carrier HMM Namu sustained significant damage after being hit twice on Monday while transiting the strategic waterway, which has faced severe disruption since the outbreak of hostilities between Israel, the United States and Iran in late February.

Foreign ministry spokesman Park Il told reporters that “two unidentified aircraft struck the outer plate of the port-side ballast tank at the stern” of the vessel at roughly one-minute intervals, igniting flames and heavy smoke.

Park said investigators had not yet determined the type, origin or size of the aircraft involved, despite CCTV footage capturing the incident. South Korean authorities are conducting further analysis of engine debris and fragments recovered from the vessel.

According to the ministry, the first strike is believed to have ignited a fire in the engine room, while the second impact accelerated the spread of the blaze. Damage to the hull extended approximately five meters across and seven meters inward on the vessel’s port-side stern.

The ship, carrying 24 crew members, later arrived at port in Dubai with visible fire damage.U.S. President Donald Trump said earlier this week that Iran had “taken some shots” at the vessel and urged South Korea to participate in U.S.-led operations intended to restore commercial shipping through the Strait of Hormuz.Iran has denied involvement.

Tehran’s embassy in Seoul issued a statement rejecting what it called allegations linking Iranian forces to the attack and said it “firmly rejects and categorically denies” responsibility.South Korea summoned Iran’s ambassador to seek clarification regarding Tehran’s position and discuss the findings of the preliminary investigation, Park said.

The Strait of Hormuz, through which roughly a fifth of global oil consumption typically passes, has become a focal point of military escalation since the United States and Israel launched coordinated strikes against Iran earlier this year.

Tehran has since responded with attacks across the region and measures that have sharply reduced maritime traffic through the corridor, fueling volatility in global energy markets.

Commercial shipping companies and insurers have increasingly rerouted vessels or suspended operations in the Gulf amid rising security risks and mounting concerns over attacks on tankers and cargo ships.

The tanker was attacked off the UAE’s Al Jeer Port on May 4, according to the report, which cited people familiar with the incident. The vessel’s deck caught fire during the attack and bore markings reading “CHINA OWNER & CREW,” Caixin said.

No casualties or details regarding the extent of the damage were immediately disclosed.A person familiar with the shipowner told Caixin the incident represented the first known attack involving a Chinese oil tanker in the region, describing the event as “psychologically very hard to accept.”The strike comes amid mounting security risks around the Strait of Hormuz, a strategic maritime chokepoint through which a significant share of global oil and fuel shipments passes daily.

Shipping activity across the Gulf region has faced heightened disruption since the outbreak of hostilities involving Iran, the United States and Israel earlier this year. Regional tensions have raised concerns among energy traders, insurers and shipping operators over vessel safety and supply-chain stability.

The reported attack follows a series of incidents affecting commercial shipping near Hormuz, including claims and denials involving vessels linked to South Korea and other Asian economies heavily dependent on Gulf energy supplies.China, the world’s largest crude oil importer, relies heavily on Middle Eastern energy exports transported through the Strait of Hormuz.

Beijing has repeatedly called for stability in the Gulf and urged all parties to avoid actions that could threaten international trade routes.Neither Chinese authorities nor UAE officials immediately issued public statements regarding the reported attack.

Trump indicated the pause was intended to create diplomatic space for negotiations, signaling a possible shift toward a negotiated resolution in the strategically vital waterway, a key global oil transit route.

The decision comes amid heightened tensions linked to the ongoing Iran conflict, which has disrupted shipping flows and contributed to increased energy costs. Despite the pause in operational activity, the continued enforcement of the blockade suggests that pressure on the situation will be maintained while talks proceed.

The Strait of Hormuz, through which a significant share of the world’s oil supply passes, has remained at the center of geopolitical and economic concerns, with recent incidents underscoring the risks to commercial shipping and global energy markets.

US officials have not disclosed details of the proposed agreement or the parties involved, and no timeline has been provided for the duration of the pause.

The announcement was made through the state-run WAM news agency, which said the decision reflects the country’s changing economic priorities and expanding domestic energy ambitions.“This decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets,” the government said in a statement.

The UAE did not provide further details on how the move would affect its crude production policy or its broader cooperation with OPEC+, the wider alliance of oil-producing nations led by Saudi Arabia and Russia.

The decision comes at a time of heightened volatility in global energy markets, with oil prices rising sharply amid continued tensions surrounding the Iran war and concerns over supply routes through the Strait of Hormuz, a critical channel for global crude shipments.

The UAE has in recent years expanded its oil production capacity while also investing heavily in natural gas, renewables and low-carbon energy technologies as part of its broader diversification strategy.

Its departure from OPEC could reshape internal dynamics within the producer group, where production targets and output discipline have often been subjects of negotiation among member states.

OPEC, headquartered in Vienna, was founded in 1960 and remains one of the world’s most influential oil alliances, coordinating output policies among major exporters to stabilize prices and manage market supply.

The UAE has been one of the organization’s key Gulf members and among its largest producers, making its exit one of the most significant institutional changes for the cartel in recent years.

Markets and analysts are expected to closely watch whether Abu Dhabi maintains coordination with OPEC+ informally or pursues a more independent production strategy after its formal withdrawal takes effect.

Birol told Swiss newspaper Neue Zuercher Zeitung that recovery timelines would vary across countries, with some producers facing longer setbacks than others. He said overall output in the region was expected to return to pre-war levels in roughly two years, citing uneven infrastructure damage and differing production capacities.

He cautioned that markets may be underestimating the consequences of continued instability in the Strait of Hormuz, a key artery for global oil and gas shipments. While cargoes dispatched before the outbreak of hostilities have largely reached their destinations, he said the absence of new shipments in March was beginning to create supply gaps, particularly for Asian markets.

“No new tankers were loaded in March,” Birol said, adding that if the strait remains closed, the shortfall could translate into sustained upward pressure on global energy prices.The disruption comes amid heightened geopolitical tensions in the region, which have curtailed production and complicated export logistics.

Energy analysts have pointed to the Strait of Hormuz as a critical vulnerability, handling a significant share of global seaborne crude and liquefied natural gas flows.Birol said the IEA remained prepared to intervene through coordinated releases of emergency oil reserves, following a similar move earlier in March aimed at stabilizing markets.

He added that while such action was not yet imminent, it remained under active consideration should supply conditions deteriorate further.

The selloff follows a sharp rise in global oil prices toward $100 a barrel, intensifying pressure on Thailand, which relies on the Middle East for nearly half of its oil and gas imports, according to Krungsri Research.

Data showed foreign investors were net sellers of $823 million in Thai equities in March, while bond outflows reached $705 million, marking the largest combined outflow since October 2024. The reversal came after a brief resurgence in inflows earlier this year, including $1.7 billion in equity purchases in February.

Investor optimism had been buoyed by the election of Prime Minister Anutin Charnvirakul, whose victory raised expectations of political stability and economic reform.

However, the outbreak of the Iran conflict at the end of February triggered a rapid reassessment of risk.Analysts say Thailand faces a more acute challenge than many regional peers due to its economic structure and policy constraints.

The economy had already been struggling, with growth of 2.4% last year and a prolonged period of deflation that prompted a rate cut by the central bank in February.“The risk remains that higher fuel costs hit consumption and disrupt exports and tourism,” said Daniel Tan, a portfolio manager at Grasshopper Asset Management, highlighting concerns about key growth drivers.

Thailand’s heavy reliance on natural gas, which accounts for more than half of its power generation, adds to its exposure. Rising liquefied natural gas imports are expected to further increase costs as energy markets tighten.

The Thai baht has weakened nearly 3% since the conflict began, though it has recovered some ground following a recent ceasefire. Analysts say the currency is acting as a key adjustment mechanism, helping absorb external shocks.

Market participants also point to limited policy flexibility. With public debt nearing the government’s self-imposed ceiling of 70% of gross domestic product, fiscal space is constrained, while monetary policy faces a trade-off between supporting growth and containing inflation.

“There’s a broad consensus among investors that Thailand is in a policy bind,” said Gary Tan of Allspring Global Investments, noting that the central bank has limited room to tighten or ease policy without adverse consequences.

Inflation, which had been contracting earlier this year, is now projected to rise as much as 3.5% depending on how the conflict evolves, marking a sharp shift in the economic outlook.

While a temporary ceasefire has supported a rebound in Thai equities and the baht, analysts caution that prolonged high energy prices could further weigh on growth, consumption and the external balance.

Iran and the United States have agreed to a conditional two-week ceasefire, marking a temporary pause in hostilities that have disrupted regional stability and threatened global energy supply routes, according to statements from officials in both countries and mediators involved in the talks.

The agreement provides for an immediate halt to attacks and the reopening of maritime traffic through the Strait of Hormuz, a critical corridor for global oil shipments. Iranian authorities said safe passage would be coordinated with their armed forces during the ceasefire period, indicating continued operational control over the waterway.

The announcement was confirmed by Shehbaz Sharif, who said the ceasefire would apply “everywhere including Lebanon and elsewhere” and take effect immediately. Sharif also invited both sides to send delegations to Islamabad for talks aimed at reaching a longer-term settlement, positioning Pakistan as a key mediator in the process.

Officials in Washington and Tehran offered differing emphases on the agreement. Donald Trump described the ceasefire as a “total and complete victory” for the United States, stating that US military objectives had been achieved and that discussions toward a broader peace arrangement were already advanced. He added that Washington would suspend further military action, including previously stated threats against Iranian civilian infrastructure, contingent on compliance with the terms of the agreement.

Iranian Foreign Minister Seyed Abbas Araghchi confirmed that Tehran would halt what he described as “defensive operations” to facilitate negotiations. He said Iran had submitted a 10-point proposal that Washington had accepted as the basis for talks, while also reviewing a separate 15-point proposal put forward by the United States.

Despite these developments, there were inconsistencies in how the ceasefire’s geographic scope was described. Benjamin Netanyahu stated that the agreement did not extend to Lebanon, contradicting assertions by Pakistani officials and some US sources that the ceasefire would apply across multiple fronts. The discrepancy highlights ongoing uncertainty over the terms and implementation of the arrangement.

No official text of either proposal has been publicly released. However, details reported by Iranian state media suggest that Tehran’s 10-point plan includes provisions for maintaining its authority over the Strait of Hormuz, securing the lifting of sanctions, unfreezing overseas assets, and obtaining compensation for damages.

The proposal is also reported to call for the withdrawal of US forces from the region, recognition of Iran’s nuclear enrichment activities, and a binding United Nations resolution to formalize any final agreement.

Iranian diplomatic messaging has reinforced these positions, emphasizing continued control over strategic waterways and a cessation of hostilities across multiple regional theaters. Tehran has also indicated that any lasting agreement would need to address broader geopolitical and economic demands, including sanctions relief and security guarantees.

By contrast, the US proposal is reported by regional sources cited by CNN to focus on nuclear and security constraints. The 15-point framework is believed to include commitments by Iran to forgo nuclear weapons development, surrender highly enriched uranium, limit its defense capabilities, and curtail support for regional proxy groups. It also includes provisions to ensure the continued operation of the Strait of Hormuz as an open international shipping route.

Iran has previously rejected these terms, describing them as “excessive, unrealistic and unreasonable,” suggesting that significant gaps remain between the two sides despite the temporary ceasefire.The reopening of the Strait of Hormuz is a central component of the agreement, given its importance to global energy markets.

Any disruption to shipping through the waterway has immediate implications for oil prices and supply chains, making the ceasefire’s maritime provisions a key focus for international stakeholders.

The two-week timeframe underscores the provisional nature of the arrangement, with both sides framing the ceasefire as an opportunity to advance negotiations rather than a definitive resolution. Diplomatic engagement is expected to intensify in the coming days, particularly with the proposed talks in Islamabad.

While the agreement signals a de-escalation after a period of heightened tensions, the absence of a publicly verified framework and conflicting statements from key actors point to a fragile understanding that will depend on sustained diplomatic coordination and adherence to interim commitments.

The cabinet has ordered a 30% reduction in fuel and electricity consumption across government offices, alongside suspending certain staff training programs and halting the procurement of new vehicles, ships and aircraft. Decorative lighting for public celebrations has also been banned as part of broader conservation efforts.

Authorities said shopping malls and retail outlets would close earlier than usual, while office timings have been curtailed to limit overall energy demand in the country of more than 170 million people.

The measures come as Bangladesh grapples with heavy reliance on imported energy, which accounts for approximately 95% of its fuel needs. Officials are seeking alternative energy sources and arranging $2.5 billion in external financing to sustain essential imports.

The crisis has been exacerbated by global energy market volatility linked to ongoing geopolitical tensions, putting pressure on the country’s foreign exchange reserves and raising concerns over energy security.

In a statement, the United States Department of State said Rubio expressed “gratitude” to the KRG for enabling oil from Iraq, including from the Kurdistan region, to reach international markets at a time when global prices have been unsettled by the conflict.

Rubio also conveyed condolences to families of Kurdish Peshmerga fighters killed in a March 24 missile attack and wished a speedy recovery to those injured. Kurdish authorities said at least six fighters were killed and about 30 wounded when missiles struck a military base north of Irbil.

A Peshmerga statement attributed the attack to Iran, describing it as a “treacherous attack” involving ballistic missiles targeting a headquarters facility in Iraqi Kurdistan.

The Iran war, which began on February 28 following U.S. and Israeli strikes on Iran, has widened into a broader regional confrontation. Tehran has since launched retaliatory attacks on Israel and Gulf states hosting U.S. bases, while Israeli strikes have extended into Lebanon.

The escalation has rattled global markets, particularly oil, as supply routes and production hubs face heightened risk.Policy signals from WashingtonU.S.

President Donald Trump has offered varying objectives for the conflict, ranging from regime change in Iran to degrading its military and missile capabilities.

On Thursday, he said he believed his side had prevailed in the war, even as hostilities and their economic fallout continue.

The call with Kurdish leadership highlights Washington’s focus on maintaining energy flows and regional partnerships amid ongoing instability.