Oil volatility keeps rattling Wall Street amid Hormuz uncertainty

UAE presidential adviser Anwar Gargash said Iran’s attempts to control the Strait of Hormuz or infringe on UAE maritime sovereignty were unrealistic, accusing Tehran of trying to impose a new regional reality after what he called a clear military defeat.

“We have grown accustomed to Iranian bullying over many long decades,” Gargash said on X.

He added that trust had been lost between Iran and its Arab neighbors, and that rebuilding it required responsible language, respect for sovereignty and a genuine commitment to good neighborliness.

Iraq condemned attacks on Saudi Arabia and the United Arab Emirates that were allegedly launched from within its territory, Prime Minister Ali Faleh Al-Zaidi said on Thursday.

Al-Zaidi said Iraq renewed its “condemnation and renunciation” of the attacks and pledged a joint investigation with the UAE and Saudi Arabia.

“We express our rejection of the use of Iraqi territory or airspace as a launching ground for attacks against brotherly and friendly states, and reaffirm Iraq's role as a meeting point for shared interests,” Al-Zaidi said on X.

The UAE said on Tuesday that a drone which hit a nuclear plant had been launched from Iraq, while Saudi Arabia said it intercepted three drones entering its airspace from Iraq.

US President Donald Trump said he may miss his son Donald Trump Jr.’s wedding this weekend, saying the timing was difficult because of Iran and other issues.

“This is not good timing for me,” Trump said. “I have a thing called Iran and other things.”

“That’s one I can’t win on,” he added. “If I do attend, I get killed. If I don’t attend, I get killed by the fake news, of course, I'm talking about."

The United States imposed sanctions on Iran’s ambassador-designate to Lebanon, Mohammad Reza Sheibani, and eight other individuals in Lebanon for obstructing the peace process and impeding the disarmament of Hezbollah, the US Treasury Department said on Thursday.

The Treasury said the designated individuals included Hezbollah-aligned officials across Lebanon’s parliament, military and security sectors who sought to preserve the Iran-backed group’s influence over Lebanese state institutions.

“Hizballah is a terrorist organization and must be fully disarmed,” Treasury Secretary Scott Bessent said.

“Treasury will continue to take action against officials who have infiltrated the Lebanese government and are enabling Hezbollah to wage its senseless campaign of violence against the Lebanese people and obstruct lasting peace,” he added.

The Treasury also designated Hezbollah political representatives Mohamed Abdel-Mottaleb Fanich, Hassan Nizammeddine Fadlallah, Ibrahim al-Moussawi and Hussein Al-Hajj Hassan.

It also sanctioned Amal Movement security officials Ahmad Asaad Baalbaki and Ali Ahmad Safawi, as well as General Directorate for General Security official Khattar Nasser Eldin and Lebanese Armed Forces Intelligence Directorate official Samir Hamadi.

Iran is discussing with Oman how to set up a permanent toll system that would formalize Tehran’s control of maritime traffic through the Strait of Hormuz, Bloomberg reported, citing an interview with Iran’s ambassador to France.

“Iran and Oman must mobilize all their resources both to provide security services and to manage navigation in the most appropriate manner,” Bloomberg quoted Mohammad Amin-Nejad as saying in an interview.

“This will entail costs, and it goes without saying that those who wish to benefit from this traffic must also pay their share,” he said.

“And if today there is any desire for the situation to improve, a solution must be found to tackle the root of the problem,” he added.