Iran war: What’s happening on day 61 as UAE exits OPEC?

Trump says Iran is in a ‘state of collapse’ as Gulf leaders meet in Saudi Arabia.

In the Gulf

• UAE to leave OPEC after nearly 60 years: The United Arab Emirates says it will exit OPEC on Friday, ending decades of membership in the oil-producing cartel.
• Gulf states condemn Iran over Hormuz threat: Leaders of Gulf Arab countries rejected Tehran’s “illegal actions” to close the Strait of Hormuz and endanger shipping, warning against any disruption or transit fees.
• Meeting under the Gulf Cooperation Council in Saudi Arabia, they called for restoring “security and freedom of navigation” to pre-war levels and pushed for deeper military integration.

In the US

• US Treasury says blockade will force Iran oil cuts: Treasury Secretary Scott Bessent says US measures targeting Iran’s shadow banking, crypto access and oil networks have hit revenues and weakened its economy, adding that the blockade is pushing Kharg Island near capacity and could force production cuts costing about $170m a day.
• Trump says Charles agrees on Iran nuclear weapons: Trump, hosting King Charles III at the White House, said during a state dinner that his administration’s Middle East efforts were “going very well” and claimed Iran had been “militarily defeated”, adding “Charles agrees” that Tehran must never be allowed to obtain a nuclear weapon.
• Trump hints at divisions in Iran leadership: Reporting from Washington, DC, Al Jazeera’s Mike Hanna said Trump has claimed Iran is in a “state of collapse”; the rhetoric appears aimed at pressuring Tehran back to talks as Washington maintains its red line on preventing a nuclear weapon.
• Despite reports that Iran has offered to reopen the Strait of Hormuz in exchange for delaying nuclear negotiations, the US is said to oppose postponing those talks, leaving the situation in limbo even as a ceasefire holds for now.
• Trump approval hits new low amid Iran war concerns: The US president’s approval rating has fallen to 34 percent, down from 36, according to a Reuters/Ipsos poll, as dissatisfaction grows over the cost of living and the war with Iran.

In Israel

• Ultra-Orthodox protesters storm police chief’s home: Anti-conscription demonstrators broke into the home of Yuval Yamin in Ashkelon, barricading themselves in his garden after a court ruling targeting draft evasion.
• Prime Minister Benjamin Netanyahu condemned the “violent attack” and called for firm action.

In Lebanon

• Israeli ‘double-tap’ strike kills five in south Lebanon: Heidi Pett, reporting from Tyre, said five people, including three medics, were killed in a strike on rescue workers, with two soldiers wounded. Prime Minister Nawaf Salam called it a “war crime”.
• Israeli forces have continued air strikes, shelling and demolitions, while Hezbollah has stepped up drone attacks and rocket fire, highlighting fragile ceasefire conditions.

Global economy

• Oil jumps, stocks slide: Crude prices surged after Trump signalled he may reject Iran’s proposal to reopen the Strait of Hormuz, while Qatar warned the crisis could turn into a prolonged “frozen conflict,” weighing on equities. Brent crude for June delivery climbed about 2.8 percent, reaching $111.26 per barrel.