US-Middle East relations

US denies Iran report on draft peace deal to reopen Strait of Hormuz

The document is ‘a complete fabrication’, says the White House

US Secretary of State Marco Rubio said the US would give diplomacy every chance to succeed before exploring “alternatives”.

US will find ‘another way’ if talks with Iran to end war fail: Rubio

Trump on May 24 said he had told his representatives not to rush into any deal

Downside risks for Singapore have risen significantly, says MTI, as energy and key input supply disruptions due to the Strait of Hormuz blockade lead to cost spikes, driving up inflationary pressures.

Singapore maintains 2026 growth forecast at 2-4% despite rising downside risks from Iran war

MTI revises Q1 GDP growth upward to 6%; UOB, Maybank raise their full-year forecasts

The UAE today is not a pure petrostate. Thus, while high oil prices will boost the country's oil revenue, they also hurt the global economy that drives the rest of the Emirati portfolio.
THE BOTTOM LINE

Why the United Arab Emirates walked away from Opec

The economic logic of the decision is just as important as the political one

Tehran relayed a new proposal to Washington via Pakistan, which mediated a first round of direct negotiations last month, Iran’s state-run Islamic Republic News Agency said on Friday.

Trump rues state of Iran talks, says prefers not to strike

Tehran relayed a new proposal to Washington via Pakistan, which mediated a first round of directed negotiations last month

Metro Manila is phasing out ageing combustion-engine cabs that rely on curbside pickups and street-hailing.

Philippine taxis hit by fuel price hikes get electric lifeline from VinFast, Grab

Manila’s cab industry is turning a volatile energy crisis into an opportunity for modernisation

IMF’s reports paint a picture of a global economy that was finally finding its footing, only to be knocked back again by the outbreak of war in the Middle East.

The world economy is in the shadow of war, and the warning signs are flashing

Global growth is now projected to slow to 3.1% in 2026 and 3.2% in 2027

Base oil and bitumen production will be affected by the shifting crude oil mix, while diesel and fuel oil yields will be driven lower, analysts say.

Not-so-sweet deal for Singapore’s refineries as they shift to US, alternative crudes

Variations in density and sulphur content present compatibility challenges

The allies are concerned that Washington, eager to claim a diplomatic win for US President Donald Trump, could lock in a superficial agreement.
NEWS ANALYSIS

Allies fear a rushed US-Iran framework deal could backfire, leaving technical deadlock

Technical disputes over uranium enrichment and sanctions relief remain unresolved, diplomats warn