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Oil prices have climbed higher amid fading hopes of deescalation in the Iran war following Tehran’s denial that talks with the United States are under way.Futures for Brent crude, the international benchmark, rose nearly 2 percent on Thursday to top $104 per barrel after Tehran dismissed reports of direct negotiations with US President Donald Trump’s administration.The rise comes after oil prices eased on Wednesday following reports that Trump had shared a 15-point plan for ending the war with Iran.Iranian Foreign Minister Abbas Araghchi said in an interview with state media aired on Wednesday that Tehran was not engaged in direct talks with Washington and has “no intention of negotiating for now”.White House Press Secretary Karoline Leavitt warned on Wednesday that Iran would be “hit harder” than ever before if Tehran did not accept military defeat.Iran’s effective closure of the Strait of Hormuz, a conduit for one-fifth of global oil supplies, and its attacks on energy facilities across the Middle East have prompted a surge in energy prices worldwide.Oil prices are up more than 40 percent compared with before the US and Israel launched strikes on Iran on February 28, prompting numerous countries to implement fuel rationing and other energy conservation measures.Market-watchers say prices are likely to rise further until shipping is free to traverse the strait, despite efforts by countries to bolster supply by tapping emergency stockpiles in coordination with the International Energy Agency.While Tehran has repeatedly claimed that the strait is open to ships that are not aligned with its enemies, daily transits have all but collapsed since the start of the conflict.Four vessels were tracked transiting the waterway via their automatic identification systems on Tuesday, down from an average of 120 daily transits before the conflict, according to maritime intelligence firm Windward.

Iran has assured that 'non-hostile' vessels can safely pass through the Strait of Hormuz, a vital shipping route for about one-fifth of the world's oil and liquified natural gas supplies. The assurance comes amid a significant collapse in maritime traffic through the strait, which has contributed to a major global energy crisis.In a statement released through its mission to the United Nations, Iran specified that ships would be allowed to transit the strait 'provided that they neither participate in nor support acts of aggression against Iran and fully comply with the declared safety and security regulations.'The development follows a sharp decline in shipping traffic through the strait, with only about 5 vessels passing through daily, compared to an average of 120 daily transits before the US-Israel conflict began. This reduction has led to a surge in global energy prices, with Brent crude experiencing significant fluctuations.Iran's statement also mentioned that ships will be allowed to transit 'in coordination with the competent Iranian authorities.' The country has shared similar assurances with the International Maritime Organization (IMO), the UN body responsible for international shipping safety and security.The move comes as US President Donald Trump mentioned ongoing negotiations to end the conflict with Iran, despite Tehran's previous denials of talks. The situation remains complex, with global markets closely watching for any signs of resolution.

As regional security dynamics shift with Iran launching missile and drone attacks on Gulf neighbors, the head of Qatar’s General Authority of Customs has moved to quell concerns regarding potential supply chain bottlenecks. Ahmed bin Abdullah Al Jamal stated unequivocally that there are no indicators suggesting shortages or disturbances to trade flows within the State of Qatar.The assurance comes as Qatar’s armed forces intercepted recent attacks, highlighting the volatile security environment. However, Al Jamal emphasized that Qatar’s economic stability is underpinned by a robust defense strategy that extends beyond military interception to include diversified import sources, efficient logistics infrastructure, and sufficient strategic stocks of essential goods.A cornerstone of this resilience is the modernization of customs procedures. The implementation of the Al Nadeeb platform, an electronic single-window system, has streamlined import and export transactions. By integrating the electronic TIR system in May 2025, authorities can now exchange data in advance and conduct risk analyses, significantly reducing release times and enhancing transparency for businesses.Qatar’s logistical network is designed for redundancy, offering multiple avenues for trade movement. Hamad Port serves as a critical maritime hub, while Hamad International Airport provides essential air freight capacity. On the land front, the Abu Samra border crossing with Saudi Arabia has been upgraded with advanced scanning and security systems, ensuring that road transport remains a viable and efficient alternative for moving goods across the region.Furthermore, coordination with the Gulf Customs Union has yielded practical benefits, including the recognition of freight forwarder guarantees and simplified customs codes. These measures, combined with a comprehensive emergency framework involving multiple ministries, ensure that Qatar’s markets remain stable and that the flow of goods continues uninterrupted despite external pressures.

Israeli settlers carried out coordinated attacks on multiple towns and villages in the occupied West Bank for the second consecutive night, resulting in at least nine Palestinian injuries. The violence took place during the Eid al-Fitr holiday, marking the end of Ramadan.In one incident, a 45-year-old man was shot in the foot during a confrontation with Israeli settlers in Deir al-Hatab, east of Nablus. The Palestine Red Crescent Society (PRCS) reported that a 47-year-old Palestinian man was attacked by settlers in Jabal al-Arma in Beita, while others were beaten.The attacks were widespread, with homes and cars set ablaze and property vandalized across the occupied West Bank. Simultaneous assaults occurred in at least six communities, including villages near Jenin and Nablus.The violence followed a funeral for 18-year-old Yehuda Sherman, an Israeli settler killed in a collision with a Palestinian vehicle. Israeli police are investigating claims that the collision was deliberate.The Israeli government's expansion of illegal settlements in the occupied West Bank has been met with international criticism. The United Nations Office for the Coordination of Humanitarian Affairs reported that 25 Palestinians have been killed by Israeli settlers and soldiers so far this year.Amnesty International condemned the expansion of illegal settlements and state-backed settler violence, calling it a "direct indictment of the international community's catastrophic failure" to take action. The International Court of Justice ruled in 2024 that Israel's continued presence in the occupied Palestinian territory is unlawful and should end "as rapidly as possible".