Iran war: Key highlights on May 30
- As the US continues to outline a series of conditions Iran should accept as part of a potential agreement between Washington and Tehran, Trump’s hours-long Situation Room meeting ended without any firm announcement this week.
- Despite reports of a tentative agreement between the US and Iran, Tehran said that a ceasefire deal had yet to be finalised after Trump laid out the demands for a deal.
- As the US and Iran tussle over the reopening the Strait of Hormuz, the UK Maritime Trade Operations (UKMTO) agency warned ship masters that a military blockade on Iran’s ports was still in place, “restricting all traffic inbound and outbound from these ports.”
- Pakistani Foreign Minister and Deputy PM Ishaq Dar met with US Secretary of State Marco Rubio on May 29 following top Pakistan officials’ recent visit to Iran. The country continues to play mediator between Washington and Tehran.
- Amid hopes of the Strait of Hormuz’s reopening, Brent oil price posted biggest monthly loss in six years. The international oil benchmark fell over 19% in May, its worst month since March 2020, when the COVID-19 pandemic closed economies.
- US Vice President JD Vance said negotiations are still ongoing over “a couple of language points.”
- The tentative framework could open the door to another 60 days of talks centered on Tehran’s nuclear program.
- Iran fired a ballistic missile toward Kuwait late Wednesday, according to US Central Command, though Kuwaiti forces intercepted it. Iran claimed the missile attack targeted an American base linked to recent US strikes.
- Oman reportedly assured the US it would not support any plan to impose tolls on ships passing through the Strait of Hormuz.
- Iran’s Revolutionary Guard navy said it fired warning shots at four vessels near the Strait of Hormuz for allegedly entering without authorization.
- Reopening the Strait of Hormuz could ease the global energy crisis and help lower oil and gas prices, though experts say shipping may take weeks to fully resume.
| Benchmark | Current Price (USD/bbl) | Daily Change | Session High | Session Low |
|---|---|---|---|---|
| Brent Crude (Aug Futures) | $92.41 | -1.13% | $95.97 | $92.07 |
| WTI Crude (Jul Futures) | $88.40 | -0.32% | $92.51 | $88.20 |
Israeli military intercept air attack, Hezbollah rocket launcher destroyed
The Israeli military said it has intercepted a "launch" crossing into northern Israel from Lebanon. The Israeli forces didn't disclose whether any damage or casualties were reported. Without offering much detail into whether the interception involved a rocket or a drone, they issued another statement, saying that a Hezbollah launcher was destroyed overnight.
New Zealand minister aiming for steady rises in defence spending
New Zealand's defence minister, Chris Penk, said that he is aiming for a 'smooth and steady' rise in defence expenditure to meet a target of 2% of GDP spent on military within 8 years, according to Reuters.
“As much as possible, it’s our intention to have a smooth and steady upward trajectory to 2 percent,” Penk said.
His remarks comes as US Defence Secretary Pete Hegseth said at a Singapore conference that the US would give precedence to relations with "model allies" who put aside 3.5% of their GDP for defence spending.
Scott Bessent slammed for 'less than $200 in extra gas cost' remark
US Treasury Secretary Scott Bessent was heavily criticised for suggesting that Americans were only facing "less than $200 in extra gasoline cost at an economic event in California this week. Netizens and US politicians alike took a swipe at his remarks, especially since Bessent's net worth is estimated to be around $600, according to Forbes.
“The war will end. We’ll get to the other side of this,” Bessent said on Friday (US time). “The economy has been very resilient through all this. You know, look — for many families, it’s not nothing. But, it’s been less than $200 in extra gasoline cost,” adding that “all the Democrats want to talk about now is beef and gasoline” and that “last year, it was eggs, eggs, eggs.”
US 'more than capable' of resuming war: Hegseth
During his official Singapore outing, US Defence Secretary Pete Hegseth said that the US was more than capable of continuing the war in Iran.
"Our ability to recommence if necessary is we are more than capable, our stockpiles are more than suited for that, both there and around the globe because of how we balance exquisite and more plentiful munitions," he said on Saturday while addressing a defense conference in Singapore.
'US forces remain present and vigilant' across Middle East
US Central Command said in a post on X, "US forces remain present and vigilant across the [Middle East] region."
The post came with a photo of an F-16 fighter jet that the CENTCOM claimed was flying "over the Middle East during a patrol."
Israeli military demolishes homes in Lebanon
According to an Al Jazeera Arabic report, Israeli forces are attacking residential homes in the town of Dibbine in the Marjayoun district of southern Lebanon.
US 'more than capable' of resuming war: Hegseth
While speaking at the Shangri-La Dialogue in Singapore over the weekend, US Defence Secretary Pete Hegseth said the US is "more than capable" of continuing its war against Iran if needed. Re-asserting that Iran must not possess nuclear weapons, he warned that no country, "including China," should be allowed to dominate the Indo-Pacific region. At the same time, he hailed "critical" ties with India, describing the country as a key pillar of regional stability.
"In South Asia, India is a critical anchor to hold the line," he said in Singapore. "A powerful India acting in its own self-interest advances our shared goal of maintaining a balance of power across the region."
Hegseth even went on to praise India's military modernisation efforts for carrying "its share of the security burden, particularly in the Indian Ocean."
Any deal with Iran 'will be a good deal': Hegseth
During an international forum in Singapore, US Defence Secrerary Pete Hegseth said that "status as of right now is that any deal will be a good deal.”
“I had a chance to talk to President Trump this morning. He wanted me to reiterate how patient he is in ensuring that with America undertaking this kind of historic endeavor, any deal will be a good one, a great one, and he’s patient in the pursuit of that,” Hegseth said during a Q-and-A session.
“If Iran doesn’t want to make a great deal that ensures they don’t get a nuclear weapon,” then Iran can “deal with” the US military, Hegseth said.
When asked about his stance on any deal being a good deal with Iran, Hegseth replied, "I love the disingenuous questions from the disingenuous press. I said it will be a good deal."
Brent oil price hits biggest monthly loss in 6 years
Brent oil posted is biggest monthly loss in six years.
Prices fell Friday after Trump said his White House Situation Room would make a final determination about the Iran war. Brent fell 1.77% to sit at $92.05 per barrel and West Texas Intermediate lost 1.73% to settle at $87.36 per barrel.
However, the numbers recorded in May showed that the international oil benchmark fell over 19% this month, making it the worst-hit month since March 2020 when the Covid-19 pandemic forced economies shut. Meanwhile, US West Texas Intermediate crude prices slumped nearly 17% in May, making it the worst performance since April 2025, according to CNBC.
'Productive' security talks between Israel and Lebanon
The US Department of Defence said that delegations from Lebanon and Israel engaged in "productive, military-to-military talks focused on building practical frameworks for regional security and stability." Reiterating the US' support for "Lebanon's sovereignty and territorial integrity, free of armed non-state actors," the department hailed the "commitment of both militaries to these historic efforts."
US seized roughly $1B in Iranian crypto
US Treasury Secretary Scott Bessent announced that the US has seized roughly $1 billion in Iranian crypto assets.
"We have seized about a billion dollars of their crypto," he told FOX Business. "Just outright grabbed the wallets."
"I think between five and a half-six weeks of an incredibly successful military campaign and then Operation Economic Fury, where we have really cut them off…they are at the end of their tether now financially," he said.
"I think 40 or 50% of the [Iranian] troops aren't getting paid. Police aren't reporting to the station. Inflation is probably over 200%. They're having to give out food vouchers. They have turned off the internet."
Pakistani FM meets Marco Rubio
Pakistani Foreign Minister and Deputy PM Ishaq Dar met with US State Secretary Marco Rubio, according to the South Asian country's Ministry of Foreign Affairs. An official summary shared by the official ministry stated that Rubio "acknowledged Pakistan’s diplomatic and mediatory efforts” during the "warm and cordial meeting."
https://twitter.com/ForeignOfficePk/status/2060431770575868167
The UK Maritime Trade Operations (UKMTO) agency advised ship masters that a military blockade on Iranian ports is still in place, "restricting all traffic inbound and outbound from these ports."
In an advisory published recently, the agency warned "neutral or merchant" ships crossing the Hormuz Strait should stay at least 30 nautical miles away from "US units" and remain prepared to respond to radio "hails or queries" from US forces "to reduce risk of being mistaken as a threat."
Iran says no peace deal reached with US
Despite reports of a tentative agreement being reached between the US and Iran on ending the war and reopening the Hormuz Strait, Iran said it had yet to be finalised after the announcement of Trump's demands for a deal.
Trump's Situation Room meeting ends without announcement
In an official statement shared after the conclusion of Trump's Situation Room meeting with his national security team on Iran, the White House said, "The Situation Room meeting has concluded and lasted approximately two hours. President Trump will only make a deal that is good for America and satisfies his redlines. Iran can never possess a nuclear weapon."
Although Trump initially declared that the purpose was "to make a final determination," the White House statement did not lay out any further plans for the future.
US oil, gas rig count rises for sixth straight week: Baker Hughes
US energy firms added oil and natural gas rigs for a sixth consecutive week, marking the longest streak of increases since May 2022, according to energy services company Baker Hughes.
The total oil and gas rig count, viewed as an early indicator of future energy production, rose by four to 562 in the week ending May 29, reaching its highest level since May 2025. Despite the recent gains, Baker Hughes said the overall rig count remains down by one compared with the same period last year, highlighting continued caution among producers despite rising geopolitical tensions and volatility in global energy markets.
Rubio thanks Pakistan for role in advancing Middle East peace during talks with Ishaq Dar
US Secretary of State Marco Rubio met Pakistan’s Foreign Minister Ishaq Dar and thanked Islamabad for the role it continues to play in advancing peace efforts in the Middle East, according to a US readout of the meeting.
Iran, US reach ‘political understanding’ on ceasefire extension, deal still not final: Reuters
A senior Iranian source told Reuters that Tehran and Washington have reached a “political understanding” on extending the current ceasefire, though the agreement has not yet been finalised. The reported breakthrough comes as negotiations continue over a broader framework covering the Strait of Hormuz and Iran’s nuclear programme. US President Donald Trump earlier said he would convene a meeting in the White House Situation Room to “make a final determination” on how to proceed with a potential agreement with Iran. Trump has publicly outlined demands including unrestricted shipping through the Strait of Hormuz and guarantees that Iran will not obtain a nuclear weapon.
Trump to decide on Iran peace deal as Tehran pushes back on US terms
US President Donald Trump said he would hold an emergency meeting in the White House Situation Room to make a final decision on a proposed peace agreement with Iran, outlining strict conditions tied to ending hostilities and lifting the US naval blockade. In a Truth Social post, Trump said any deal would require Iran to permanently abandon nuclear weapons ambitions, fully reopen the Strait of Hormuz without tolls, and remove remaining mines from the strategic waterway. He also said the United States, working alongside Iran and the International Atomic Energy Agency, would excavate and destroy Iran’s buried enriched uranium stockpiles following earlier US B-2 bomber strikes. Trump stressed that “no money will be exchanged until further notice”, signalling a hardline stance on sanctions relief and frozen assets.
Iran dismisses Trump’s claimed deal terms as ‘mix of truth and lies’
Iran’s semi-official Fars news agency, citing informed sources, dismissed US President Donald Trump’s latest comments on a possible agreement with Tehran as a “mix of truth and lies”. The sources accused Trump of distorting elements of the draft deal in an effort to claim a “fake victory”. According to the report, Iranian sources rejected Trump’s assertion that Tehran’s enriched nuclear material would be destroyed, calling the claim “fundamentally baseless”. They also said there was no provision in the draft agreement requiring Iran to keep the Strait of Hormuz open without charging fees.
Israel issues new displacement orders in Lebanon, warns of strikes near Zahrani River
Israel’s military has issued fresh displacement warnings in Lebanon, ordering residents of the town of Zefta to immediately leave their homes ahead of planned operations against Hezbollah. In an Arabic-language statement on social media, the Israeli military instructed civilians to move north of the Zahrani River, saying its forces would soon “act forcefully” in the area.
Proposed US-Iran deal includes $300 billion reconstruction fund for Iran: Report
A proposed peace agreement between the United States and Iran includes plans for a $300 billion reconstruction and investment fund aimed at rebuilding Iran after months of conflict, according to a report by The New York Times. The initiative is reportedly being framed by Washington as an international “investment fund” that the US would help facilitate as part of a broader settlement.
Trump lists Iran deal demands ahead of White House decision meeting
US President Donald Trump outlined a series of conditions he said Iran should accept as part of a potential agreement between Washington and Tehran, including a commitment never to obtain a nuclear weapon and ensuring the Strait of Hormuz remains open to traffic in both directions without tolls. In a post on Truth Social, Trump also called for Iran to remove any remaining mines in the strategic waterway and said the United States should be allowed to locate and destroy Iran’s buried enriched uranium stockpiles. He added that Washington would lift its naval blockade on Iranian ports under the proposed arrangement. Trump said he would shortly convene a meeting in the White House Situation Room to “make a final determination” on how to proceed regarding a possible deal with Iran, as negotiations between the two countries continue amid a fragile ceasefire.
Lebanon’s president tells Rubio ceasefire with Israel is essential amid Pentagon talks
Lebanese President Joseph Aoun told US Secretary of State Marco Rubio that securing a ceasefire with Israel was crucial, as Israeli and Lebanese military delegations held talks at the Pentagon. According to a statement from Aoun’s office, the Lebanese president stressed during a phone call that all efforts should be directed toward achieving a ceasefire, calling it “an essential gateway” to any further political or diplomatic steps.
Italian authorities are investigating two Iranian nationals accused of threatening Iranian dissidents living in Italy, according to Reuters report. Search warrants have been issued for the suspects’ homes as part of the probe.
Iran, Oman discuss future administration of Strait of Hormuz amid tensions
Iranian Foreign Minister Abbas Araghchi said he held a phone call with Omani Foreign Minister Badr Albusaidi to discuss the situation in the Strait of Hormuz and its future administration. In a post on X, Araghchi said the talks focused on managing the strategic waterway “in line with our sovereign responsibilities and international law”, describing the conversation as “productive”. Araghchi also said Tehran expressed solidarity with Oman “in face of any threat”, days after US President Donald Trump threatened to “blow up” Oman if it did not “behave just like everybody else” regarding Hormuz.
India launches operation to guide 13 Indian-flagged vessels through Strait of Hormuz
The Government of India on Friday launched a coordinated priority operation to safely guide 13 Indian-flagged commercial vessels out of the volatile Strait of Hormuz, the Ministry of Ports, Shipping and Waterways said. The move comes amid heightened tensions and security concerns in the strategic waterway, a key route for global oil and trade shipments. Indian authorities said the operation was aimed at ensuring the safe passage of merchant ships and protecting maritime trade interests as instability in the region continues.
Iran envoy says Hormuz security intact but navigation services may no longer be free
Iran’s Ambassador to India Mohammad Fathali said the Strait of Hormuz had long been one of the world’s safest energy transit routes before tensions escalated due to what he described as the “warmongering actions” of the United States and Israel. In an interview with ANI, Fathali said the conflict had endangered both regional and global energy security. The envoy stressed that the Strait of Hormuz lies within the territorial waters of Iran and Oman, and that both countries are responsible for maintaining its security. While saying Iran does not believe in imposing tolls on vessels passing through the strait, he indicated that under current conditions Tehran may begin charging fees for navigation services, environmental protection and maritime security. Fathali said Iran had historically provided services such as navigation assistance, maritime rescue and traffic control free of charge, but added that charging for such services is common practice in several major international waterways.
Netanyahu says Israeli troops have advanced beyond Litani River in Lebanon
Israeli Prime Minister Netanyahu has said Israeli troops have pushed beyond the Litani River in southern Lebanon. “Our forces crossed the Litani, and they advanced to the dominating terrain,” The Times of Israel quoted Netanyahu as saying while visiting troops near the border, reported Al Jazeera.
Iran’s Ghalibaf says Tehran wins concessions ‘with missiles, not dialogue’
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Tehran secures concessions “not through dialogue but with missiles”, signalling continued hardline rhetoric even as negotiations with the United States continue. In a statement shared on X, Ghalibaf said Iran had “no trust in guarantees or words” and that “only actions are the measure”. He added that Tehran would not act before the other side took concrete steps first.