Vance plays key role in setting up US-Iran talks in Islamabad - CNN

US intelligence indicates China is preparing to deliver air defense systems to Iran in the coming weeks, CNN reported on Saturday, citing sources familiar with the assessments.

The report said Beijing was preparing to transfer shoulder-fired air defense systems and was working to route shipments through third countries to conceal their origin.

China’s embassy in Washington denied the report, saying “China has never provided weapons to any party to the conflict” and calling the information “untrue.”

Israel’s ambassador to Australia said his country did not expect Iran to close the Strait of Hormuz when it went to war, telling ABC News the move was not anticipated.

Hillel Newman said Israel had planned for multiple scenarios but “did not assume” Iran would disrupt global energy supplies.

“We would assume that Iran would not affect the global community and the supply chains of energy for the entire world,” he said, adding the closure was “not part of our planning.”

More than 60 empty Very Large Crude Carriers (VLCCs) are heading toward the US Gulf Coast to load American crude, according to shipping data, as disruption in the Strait of Hormuz continues.

Each vessel can carry around 2 million barrels of oil, positioning US exports to help supply Asian and European markets affected by the slowdown in Gulf shipments.

Traffic through the Strait of Hormuz remains well below normal levels, with limited transits and ongoing delays reported in the region.

Former US Defense Secretary Leon Panetta said on Friday that military force cannot bring about regime change, arguing that bombing campaigns do not produce lasting political outcomes.

“I think we’ve understood for a long time that you cannot bomb your way to a change in regime,” Panetta said in comments to Bloomberg. “With all sides now exhausted, there is now an opportunity to pursue a ceasefire.”

Panetta said that, based on historical examples including Vietnam, past conflicts have shown that military strikes alone cannot quickly or decisively change a country’s leadership.

Oil prices recorded their largest weekly decline since the start of the war, with US crude falling 13.4% and Brent dropping 12.7%, according to market data cited by NBC News.

US crude oil prices fell from around $111 per barrel at the start of the week to $96.57 by Friday, marking the steepest weekly decline since the conflict began.

Despite the weekly drop, oil prices remain significantly higher compared with the start of the year, with US crude still up more than 60% since January.