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War in the Middle East: latest developments

Yahoo Finance
Apr 29, 2026 at 09:37 AM
LongbridgeAII'm LongbridgeAI, I can summarize articles.

The latest developments in the Middle East war include a potential long blockade of Iran's ports by the US to pressure Tehran on its nuclear program. President Trump criticized Iran's negotiation efforts and announced a military defeat of Iran. The UN reported Iran's harsh treatment of its citizens, with 21 executions since the war began. TotalEnergies reported a 51% profit increase due to rising oil prices linked to the conflict. Israeli strikes in Lebanon resulted in eight deaths, and oil prices surged amid ongoing tensions.

Commuters make their way past a picture of Iran's slain supreme leader Ayatollah Ali Khamenei (L) and a sculpture of late supreme leader Ayatollah Ruhollah Khomeini in Tehran (ATTA KENARE)

The latest developments in the Middle East war:

- Long blockade -

US President Donald Trump has told national security officials to prepare for a long blockade of Iran's ports in order to compel Tehran to give up its nuclear program, according to the Wall Street Journal.

Trump, according to the report, does not believe that Iran is negotiating in good faith and hopes it can be forced to suspend uranium enrichment for 20 years and accept tight restrictions thereafter.

- 'No more Mr. Nice Guy' -

"Iran can't get their act together. They don't know how to sign a nonnuclear deal. They better get smart soon!" Trump posted on his Truth Social platform, alongside an illustration of himself holding an assault rifle, with the caption "NO MORE MR. NICE GUY!"

- Iran's 21 executions -

Iran has executed at least 21 people and arrested more than 4,000 since the beginning of the Middle East war, the United Nations said, criticising the Islamic republic's "harsh and brutal" treatment of its people.

Since the US-Israeli strikes sparked the war in late February, "at least nine people have been executed in connection with the January 2026 protests, ten for alleged membership in opposition groups, and two on espionage charges," the UN's rights office said.

- Record TotalEnergies profits -

French fossil fuel giant TotalEnergies said net profit rose 51 percent in the first quarter to $5.8 billion, boosted by higher oil prices linked to the war in the Middle East.

Growth in its oil and gas production in Brazil and Libya allowed the group to offset losses in the Gulf region, which is normally equivalent to 15 percent of its total oil and gas business, the company said in a statement, while also highlighting its "ability to capitalize on rising prices".

- Saudi refinery restarts -

TotalEnergies also said that it had restarted its Satorp refinery in Saudi Arabia in mid-April, after the facility, jointly owned with the kingdom's Aramco, had been shut down following damage sustained in airstrikes during the Middle East war.

"Following the events of April 8, which affected three units at the Satorp site and led to its shutdown as a safety precaution, the undamaged units were able to be restarted, and the refinery has been operating at a capacity of 230,000 b/d (barrels per day) since April 14," the company said.

- US lawmakers to grill Pentagon chief on Iran war -

US Defense Secretary Pete Hegseth will face tough questions from lawmakers about the Iran war on Wednesday during his first testimony to Congress since the start of the conflict.

Hegseth's appearance before the House Armed Services Committee will be for a hearing on Trump's $1.5 trillion defence budget request.

Lawmakers from both parties have previously expressed dissatisfaction with the information provided in classified briefings on the war, setting up a potentially fiery public hearing in which top US military officer General Dan Caine is also set to testify.

- Trump says US 'militarily defeated' Iran -

Trump told Britain's King Charles III and other guests at a state dinner Tuesday that Iran has been "militarily defeated", in his first public comments on the sensitive topic during the ongoing royal visit.

"We have militarily defeated that particular opponent," Trump said at the White House dinner, adding: "Charles agrees with me even more than I do -- we're never going to let that opponent have a nuclear weapon."

- Israeli strikes on Lebanon kill eight: health ministry -

The Lebanese health ministry said Israeli strikes Tuesday killed eight people, including civil defence rescuers, and wounded two soldiers in the country's south, despite an ongoing ceasefire.

Israel has been fighting Hezbollah since early March, sending troops into south Lebanon to battle the Iran-backed militant group, with the violence ongoing despite a shaky April 17 ceasefire.

- Oil jumps -

Oil prices jumped on reports that Trump was unlikely to accept an Iranian proposal to restore traffic in the Strait of Hormuz and Qatar warned of a possible "frozen conflict".

Brent is above the level it hit before the two sides announced a ceasefire at the start of April, while West Texas Intermediate broke $100 Tuesday for the first time in two weeks.

Both contracts continued to rise Wednesday, with Brent holding above $113 and WTI above $101.

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