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US probes suspicious oil trades linked to Iran war announcements - ABC

May 7, 2026, 13:56 GMT+1

The US Justice Department is investigating a series of oil market trades placed shortly before major announcements related to the Iran war by President Donald Trump and Iranian officials, ABC News reported on Thursday, citing sources.

ABC said federal investigators and the Commodity Futures Trading Commission were examining at least four trades worth more than $2.6 billion that bet oil prices would fall shortly before key public statements that later pushed prices lower.

The report said the trades took place ahead of announcements including delays to possible US strikes on Iran, ceasefire extensions and statements about the Strait of Hormuz remaining open.

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UAE ships oil through Hormuz on hidden tankers amid Iran war - Reuters

May 7, 2026, 13:48 GMT+1

The United Arab Emirates has moved several crude oil tankers through the Strait of Hormuz with tracking systems switched off in an effort to continue exports during the conflict involving Iran, the US and Israel, Reuters reported on Thursday, citing industry sources and shipping data.

Reuters said at least four tankers carrying about 6 million barrels of Upper Zakum and Das crude left terminals in April despite heightened risks in the waterway.

The report said the vessels sailed with automatic identification system transponders turned off to reduce the chance of detection by Iranian forces.

Some cargoes were transferred to other ships outside the strait before heading to refineries in Malaysia and South Korea, while others were unloaded into storage facilities in Oman, Reuters reported.

The UAE’s ADNOC declined to comment, according to Reuters.

The report said the shipments represented only a fraction of the UAE’s normal exports before the war, but highlighted efforts by Persian Gulf producers and buyers to keep oil flowing despite tensions.

EU says Iran war does not yet require emergency tourism measures

May 7, 2026, 13:32 GMT+1

The European Union does not believe the impact of the war involving Iran warrants emergency support measures for the tourism sector at this stage, according to draft European Commission guidelines seen by Reuters.

“The current situation does not point to the need for dedicated measures for the tourism sector, unlike during the COVID-19 crisis,” the draft guidelines said.

The guidance, due to be published on Friday, is expected to be shared with airlines and tourism operators.

China orders firms to ignore US sanctions on Iranian oil - Fox News

May 7, 2026, 12:46 GMT+1

China has ordered companies to disregard US sanctions targeting Iranian oil purchases, Fox News reported on Thursday, citing a directive issued through China’s Commerce Ministry.

The report said the order invoked a 2021 “blocking statute” that bars Chinese firms from complying with foreign sanctions considered illegitimate by Beijing.

According to Fox News, the directive applies to several Chinese refiners accused by Washington of buying Iranian crude, including independent “teapot” refineries.

The report described the move as a more explicit form of resistance to US pressure on Iran’s oil exports, which Washington has sought to curb as part of its sanctions campaign against Tehran.

Treasury Secretary Scott Bessent accused China of helping finance Iran through oil purchases, Fox News said.

“This is unprecedented. It’s a major escalation in terms of China’s response to US economic statecraft,” Fox News quoted analyst Max Meizlish as saying.

China is the main buyer of Iranian crude, much of which is shipped through opaque maritime networks designed to avoid sanctions enforcement, the report said.

Possible new fortifications seen at tunnel complex near Natanz, think tank says

May 7, 2026, 12:16 GMT+1

The Institute for Science and International Security said newly available satellite imagery appeared to show possible new defensive measures at Iran’s underground Pickaxe Mountain (Mount Kolang Gaz La) complex near the Natanz nuclear site.

The Washington-based institute said imagery suggested that by late April, two eastern tunnel entrances at the site had been partially blocked with grey earthen material that could hinder rapid vehicle access and would likely require heavy equipment to clear.

The institute said the entrances had appeared unobstructed in imagery from earlier in the month.

It added that the material did not fully conceal the tunnel portals, unlike measures previously observed at tunnel entrances at Fordow and Esfahan.

The institute said the activity raised “significant questions” because the deeply buried complex could potentially be used to store sensitive equipment or materials.

It also noted that older tunnel portals linked to a separate complex dating back to 2007 at Pickaxe Mountain had earlier this year been buried and reinforced with concrete, which analysts said could suggest equipment or material had been moved into the tunnels.

Iran's president says he recently met with new Supreme Leader

May 7, 2026, 11:51 GMT+1

Iran’s president gave the first public account of a recent meeting with Supreme Leader Mojtaba Khamenei, who has not been seen publicly since the strikes that killed his father and reportedly wounded him.

Masoud Pezeshkian said the meeting lasted nearly two and a half hours and was held in what he described as a close and cordial atmosphere.

“What stood out to me more than anything else in this meeting was the manner, outlook and deeply humble and cordial approach of the Supreme Leader of the Islamic Revolution,” Pezeshkian said.

He added that Khamenei’s approach turned the discussion into “an atmosphere based on trust, calm, empathy and direct dialogue.”

Pezeshkian also linked the meeting to the need for unity inside the leadership, saying Khamenei’s conduct could serve as a model for the country’s management system.

“When the highest-ranking official in the country treats officials and individuals with such moral conduct, humility and a people-oriented spirit, this behavior can naturally become a model for the country’s administrative and management system,” he said.

The account comes weeks after sources told Iran International that Pezeshkian had repeatedly sought an urgent meeting with Mojtaba Khamenei but received no response. The sources said a “military council” of senior IRGC officers had imposed a security cordon around the new Supreme Leader and prevented government reports from reaching him.