Six months after the war began on February 28, the six largest U.S. oil companies reported their highest quarterly profits since 2022, even as they sold less oil from the Gulf at higher prices. Brent crude rose 22 percent from $72 to $88 per barrel since the conflict started. The Strait of Hormuz, through which about one‑fifth of global oil and gas flows, has remained largely closed to commercial vessels. Iran and Oman agreed on a temporary maritime route last week, but Iran says the strait will not fully reopen until the United States meets its obligations under a lapsed interim peace deal. The disruption is expected to keep energy prices elevated and generate windfalls for producers, while raising risk for the industry’s Gulf assets and future projects. Rahul Choudhary, vice president of Upstream Research at Rystad Energy, said US companies’ share of gas from the region will decline about 40 percent this year compared with 2025, and oil share will fall 30‑35 percent. Chevron, which has limited Gulf exposure with 5 percent of its global output, posted $12 billion in adjusted earnings on July 31, its highest quarterly profit in six years. ExxonMobil, more exposed to Middle East disruptions, saw upstream earnings drop about $1.3 billion in the first half of 2026 compared with the same period in 2025, though higher commodity prices offset the shortfall. ExxonMobil holds stakes in Qatar’s North Field LNG joint ventures and the UAE’s Upper Zakum offshore field; ConocoPhillips participates in North Field expansion projects with QatarEnergy; Occidental Petroleum operates Oman’s Mukhaizna heavy oilfield and has interests in UAE gas and pipeline projects. Chevron operates assets in Saudi‑Kuwait Partitioned Zone, including the Wafra field, and is exploring routes to move Iraqi crude to Mediterranean terminals. According to ACLED, Iran and Iran‑backed groups have carried out at least 172 attacks on nonmilitary infrastructure across the Gulf Cooperation Council states since February 28, with 48 percent targeting oil, gas, power or water desalination facilities. The UAE, Kuwait and Bahrain recorded the most successful strikes, which have hit refineries, gas complexes, and processing plants. Recent attacks include a July 27 drone strike on Saudi Aramco’s Abqaiq complex, which processes more than seven million barrels per day, a March drone attack near the Saudi Aramco‑ExxonMobil SAMREF refinery in Yanbu, and repeated attacks on Qatar’s Ras Laffan LNG hub that forced production halts. An explosion at Qatar’s Barzan gas project in June killed at least 13 people; Choudhary said ExxonMobil’s share of Qatari LNG is expected to fall to four million tonnes this year from 13 million tonnes last year, while ConocoPhillips’ share will drop to one million tonnes from 2.5 million tonnes. The damage to LNG trains at Ras Laffan could reduce capacity by roughly 13 million tonnes and require three to five years and about $3 billion to repair, according to Choudhary. The Shah gas project in the UAE, in which Occidental holds a 40 percent stake, also suffered a fire in March that halted operations. Production at Upper Zakum in the UAE, where ExxonMobil has a 28 percent stake, was reduced between March and May due to disrupted export routes, limiting crude movement. In Iraq, a March drone attack on the Sarsang oilfield and an April explosion at a storage facility caused damage to the field. Choudhary said higher oil prices may sustain cash flows, but prolonged conflict could delay projects such as ExxonMobil’s $10 billion Upper Zakum and Qatar LNG expansions and ConocoPhillips’ planned 42 percent stake in BP’s Kirkuk operations. Companies with operations in less volatile countries, such as Chevron in Israel and Occidental in Oman, are expected to face fewer disruptions. Oilfield service firms SLB, Halliburton and Baker Hughes reported a 8‑10 percent decline in second‑quarter Middle East revenues, though higher oil prices have boosted earnings in other regions. Recovery of suspended operations could support growth into 2027. Choudhary noted that the impact on US companies will depend on their exposure and the countries in which they operate, highlighting both the strategic value of Gulf investments and the security risks they pose.

After a six‑month assault, Myanmar’s military recaptured the border town of Falam in Chin State, which hosts the only airport in the region and a trade route to India, according to local sources and independent monitors. The conflict began after the military seized power in February 2021, prompting the formation of the People’s Defence Forces and allied ethnic militias to resist the coup. By April 2026, opposition forces had held Falam for about a year before withdrawing following numerous air bombardments and a ground offensive involving roughly 1,000 troops. The military reported that recapturing Falam and three additional towns in the area gave it control of most of northern Chin State by late May. It added that about 150,000 new conscripts had entered its ranks since 2024, many with limited training, while Chinese diplomatic efforts facilitated cease‑fires with some ethnic armed groups and restricted weapons supplies to others. Air strikes recorded between April and June killed at least 314 civilians, including 41 children, and struck 87 townships, with Chin State receiving 122 of the 520 attacks documented by the Myanmar Internet Project. Analysts note that the expanded manpower, sustained air power, and Chinese support have enabled the military to retake 22 of the 101 towns lost after the 2021 coup, representing 9 percent of the territory but concentrating on key trade corridors and strategic locations. Despite these advances, the United Nations estimates that 3.9 million people are displaced and about one in three require humanitarian assistance, and opposition groups continue to organize training and seek support. Salai William Chin, a member of the rebel Chin Brotherhood, said that while the military holds certain towns, resistance forces remain capable of adapting and continuing operations.

Six months into the conflict, Iran’s leadership under Acting Supreme Leader Mojtaba Khamenei has appointed hard‑line military and clerical officials to senior security positions, indicating a resolve to confront the United States and to suppress potential domestic unrest. The United States under President Donald Trump initially sought regime change, but after two failed talks and renewed sanctions, Iran has maintained a confrontational posture, warning that new sanctions and a blockade could further damage its economy. Mohsen Rezaei, named secretary of the Supreme National Security Council, said that continued economic pressure could prevent any oil exports from the Persian Gulf. Hossein Taeb, a senior cleric and former intelligence chief, was appointed head of the Basij, the volunteer militia used to quell protests, and was tasked with expanding the group’s presence in society and abroad. The appointments follow a series of decrees by Khamenei that solidify a hard‑line leadership team, including Gen. Ahmad Vahidi as head of the Islamic Revolutionary Guard Corps and other senior officers. Analysts say the reshuffle aims to ensure internal cohesion among hard‑line elements. President Masoud Pezeshkian, a prominent moderate voice, has urged a return to the June cease‑fire agreement and warned that escalation could harm Iran’s economy. In contrast, hard‑liners argue that continued pressure may force the United States to change its approach. The leadership’s emphasis on military readiness and control over the Basij suggests a strategy aimed at preempting dissent, while the ability of Iran to sustain economic pressure without triggering a broader conflict remains unclear.

Russian President Vladimir Putin and Chinese President Xi Jinping are scheduled to meet in Kyrgyzstan’s capital Bishkek on Monday for a two‑day Shanghai Cooperation Organization summit, which will also bring together the leaders of Iran, India, Pakistan and other member states. About a dozen heads of state will attend the gathering in Bishkek to mark the 25th anniversary of the SCO. The SCO, founded in 2001, includes ten member states and several dialogue partners, and it states that it is not an alliance directed against other countries. Putin and Xi are expected to hold separate bilateral talks with Iran’s President Masoud Pezeshkian and with each other, according to Kremlin spokesman Yuri Ushakov. The summit takes place four‑and‑a‑half years into Russia’s invasion of Ukraine and six months into heightened tensions between the United States and Iran. U.S. CIA director John Ratcliffe traveled to Moscow recently, and American officials have warned Russia and China against providing military assistance to Iran. Russia and Iran have deepened their military and economic cooperation since the start of the Ukraine war, while China remains a major buyer of Iranian oil. Washington has imposed secondary sanctions on entities involved in Iran’s oil, technology, financial, aviation and maritime sectors, and has threatened additional measures against its partners. China has said it will firmly defend its interests in light of the sanctions. Iran, which has faced sanctions since 1979, acknowledges economic difficulties but says it will not yield to pressure. The SCO’s founding declaration asserts that the group is not an alliance against other states. The organization now has 15 dialogue partners, including Turkey, Saudi Arabia and Qatar, and two observer states, Afghanistan and Mongolia. The SCO claims to represent roughly 40 percent of the world’s population and 25 percent of global GDP, though its members have differing views on economic integration. The summit occurs amid trade tensions between the United States and several SCO members, including China and India, which have faced U.S. tariffs. The outcome of the summit and its impact on sanction‑relief efforts remain uncertain.

NASA will launch the Roman Space Telescope on Sunday from Florida aboard a SpaceX Falcon Heavy rocket at 7:26 a.m. EDT (11:26 GMT). The mission, developed over more than a decade at a cost of about $4 billion, is named for astronomer Nancy Grace Roman. The 12‑meter observatory will travel to a point 1.5 million kilometers from Earth and will survey a sky area more than 100 times larger than that observed by the Hubble Space Telescope. Roman will complement the James Webb Space Telescope and other observatories such as the Rubin Observatory in Chile and the European Space Agency’s Euclid probe. Its infrared instrument will capture light from objects billions of years ago, enabling studies of dark matter and dark energy, which together make up roughly 95 percent of the universe. Scientists expect the telescope to discover thousands of exoplanets and tens of thousands of supernovae, and to produce the largest catalog of astronomical objects ever compiled. NASA administrator Jared Isaacman said the telescope will provide a new atlas of the universe. Technical manager Dave Content noted that the daily data output will reach about 1.3 terabytes, a volume that exceeds the storage capacity of most laptops. Senior project scientist Julie McEnery said recent observations suggest existing models of early universe expansion may be inaccurate, and that Roman’s data will allow scientists to determine whether those models are correct. The mission’s data will be made publicly available, and researchers anticipate that the observations will refine understanding of cosmic structure and evolution.

U.S. military officials have voiced concerns that America’s global influence may be diminishing, citing difficulties in confronting Iran, reduced weapons stockpiles, and strained relations with allies. The Pentagon reported limited progress in achieving strategic objectives against Tehran and indicated that certain munition reserves have been depleted. Allies have shown hesitation in supporting U.S. operations, leading to reassessments of long‑term commitments. Officials said they are reviewing force posture and readiness to determine whether current capabilities meet required objectives. Analysts note that these developments could affect U.S. leverage in regional diplomacy.

The result of Iceland’s referendum on resuming EU accession negotiations remained undecided after 153,197 of the 270,000 eligible voters had been counted, with 50.1% voting no and 49.9% voting yes, according to the public broadcaster RÚV. Iceland, a nation of about 400,000 people, is already a member of the EU single market and the Schengen area. It applied to join the EU in 2009 after the 2008 financial crisis, but talks were suspended in 2013 when a eurosceptic government took power, largely because of concerns over fishing rights. Fish and marine products represent roughly 40% of Iceland’s exports, and many voters feared that EU membership would restrict control of its fishing grounds under the common fisheries policy. Prime Minister Kristrún Frostadóttir cast her ballot in Reykjavik on Saturday and said after voting, “This is a great day, we've been waiting for this for years to be able to have a vote,” adding that her government would continue its work regardless of the outcome. The ballot asked whether Iceland should resume accession negotiations with the European Union. A yes vote would initiate a negotiation process that would require a subsequent referendum, while a no vote would not close the door to future talks. Although Iceland is a founding member of NATO and relies on allies for defence, the campaign focused mainly on economic issues. Officials have expressed concern about increased Russian maritime activity near the island and about former U.S. President Donald Trump’s public interest in acquiring Greenland. The remaining votes will be counted, and the final result will determine whether Iceland proceeds to a second referendum on EU membership.

Milo Yiannopoulos was deported from the United States to the United Kingdom after his arrest by immigration authorities.

The U.S. Department of Homeland Security said Yiannopoulos was returned to his home country on Friday following an overstay allegation after he entered the country legally in May 2019.

An immigration judge issued a removal order on July 22 after he failed to appear for a scheduled hearing, a DHS spokesperson said.

He was arrested on Thursday at Louis Armstrong New Orleans International Airport in Louisiana and detained by Immigration and Customs Enforcement.

A DHS spokesperson said he "chose to overstay his welcome in violation of our nation’s laws."

Yiannopoulos, a British commentator known for his conservative positions, had previously supported President Donald Trump’s immigration enforcement policies.

He rose to prominence in the early 2010s as a writer for Breitbart News, resigned in 2017 after a video surfaced in which he appeared to endorse pedophilia, and later apologized.

He has worked for the rapper Ye, formerly Kanye West, and served as an intern for former Rep. Marjorie Taylor Greene in 2022, according to the Washington Post.

In recent years he has acted as a spokesperson for Ye, who has faced controversy over antisemitic remarks that he has since apologized for.

Laura Loomer, a far-right activist, praised his arrest on social media, while DHS encouraged people in the country illegally to leave voluntarily, offering $3,000 and a free flight.

He has not responded to requests for comment and has not posted on X since his arrest.

Details about the legality of his entry in 2019, including any visa, have not been released by the department.

Opposition members in Venezuela have criticized reports that the United States is pursuing a direct stake in more than a dozen oilfields containing about 90 billion barrels of crude, roughly a third of the nation’s proven reserves. The Wall Street Journal reported that Trump administration officials are in advanced talks with Venezuelan officials to secure long‑term access. Venezuela holds the world’s largest proven crude reserves, estimated at 303 billion barrels, compared with 268 billion in Saudi Arabia and 208 billion in Iran. Since a special forces raid on Caracas in January, Delcy Rodríguez, the former vice‑president and minister of petroleum, has served as interim president, while other regime officials, including interior minister Diosdado Cabello, remain in power. The Wall Street Journal said the talks involve fields in the Orinoco Belt and Lake Maracaibo regions. Reuters quoted a source familiar with the discussions saying the negotiations concern a direct stake in more than a dozen fields. Axios reported that the arrangement would be a legacy‑defining moment for President Trump, with an unnamed official describing it as a significant deal. Bloomberg said a separate proposal under discussion would grant a 100‑year lease on several oilfields. Ricardo Hausmann, an exiled former minister, wrote on X that an illegitimate interim government lacks authority to negotiate such a deal, calling it a fiasco. Economist Francisco Rodríguez urged the national assembly to reject what he called a predatory arrangement, saying it violates the constitution and does not serve the Venezuelan people. Journalist Luz Mely Reyes described the proposal sarcastically as the deal of the century. Energy historian Gregory Brew of the Eurasia Group noted that the arrangement mirrors the concessions granted to the Anglo‑Persian Oil Company in Iran at the start of the 20th century, and said it would give the United States effective control over Venezuelan resources. Brew added that the United States could view control of the reserves as a means to exclude other buyers such as China and Russia and to treat Venezuelan oil as part of its own supply. Machado, the exiled opposition leader whose movement is believed to have won the 2024 presidential election, has not been able to return to Venezuela. Negotiations remain ongoing and no agreement has been finalized, leaving uncertainty about the future of Venezuela’s oil policy.

Israeli settlers conducted an attack on a Palestinian home in the West Bank village of Qusra on August 29, 2026, according to witnesses. The incident occurred amid ongoing tensions between Israeli settlers and Palestinian residents in the occupied territory, which have persisted since the 2023 escalation of violence. Witnesses reported that about ten settlers entered the home, damaged property and threatened the occupants. Israeli officials said they were investigating the incident and had not yet identified those responsible. The Palestinian Authority condemned the attack and called for accountability. No injuries were reported. Israeli authorities have opened a security investigation, and the Palestinian Authority has urged the international community to address settlement activity in the area.