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Fresh hopes for diplomacy emerged on Monday as the United States and Iran appeared poised to return to Islamabad for another round of talks aimed at ending the war, sources told Reuters, even after weekend negotiations collapsed and Washington responded by imposing a blockade on Iranian ports. Tehran denounced the US move in fierce terms, but the prospect that back-channel efforts were still alive helped steady oil markets, sending benchmark crude back below $100 a barrel. The weekend meeting in Pakistan's capital — the…

Monday April 13, 2026 A ship at the Strait of Hormuz Oil markets surged back above $100 a barrel on Monday as trading resumed in Asia, after US-Iran talks collapsed without a fresh agreement and President Donald Trump said he would blockade Iranian ports. Brent crude, the global benchmark, climbed 7.3% to $102.30 (£76.32), while US West Texas Intermediate rose 8.7% to $104.94. The breakdown in weekend negotiations has deepened fears that the worldwide energy crunch could worsen. Crude had fallen sharply below $100 last…

Fujairah resumes oil loading after drone interception and fire at key UAE export hub FUJAIRAH, United Arab Emirates — Oil loading operations at the United Arab Emirates’ Fujairah emirate have resumed after a drone attack and fire on Saturday, an industry source based in Fujairah said, restoring activity at one of the world’s most important energy logistics hubs. Fujairah’s media office said smoke seen rising over the oil industry zone was caused by debris after air defenses intercepted a drone. The incident unfolded amid…

Beyond a Resignation: DP World, Doraleh and the Red Sea Port Power Play The resignation of Sultan Ahmed bin Sulayem, the longtime head of DP World, after revelations about his links to Jeffrey Epstein, has been cast as a move for accountability. In practice, it looks like a political firewall for a far larger enterprise: the United Arab Emirates’ projection of power through ports from the Horn of Africa to the Indian Ocean, with the Red Sea as a central fault line. DP World, the Dubai government–owned port operator, is…

Panama’s Supreme Court has annulled the legal basis for long-standing port concessions held by Panama Ports Company, a subsidiary of Hong Kong-based CK Hutchison, casting uncertainty over ownership of container terminals at the Panama Canal’s Pacific and Atlantic gateways and complicating a planned $23 billion ports sale. After “extensive deliberation,” the court found the laws and acts underpinning PPC’s concession for the development, construction, operation and management of terminals at Balboa and Cristobal…

Panama’s Supreme Court has annulled the concession framework underpinning Panama Ports Company’s long-running contracts at the Panama Canal’s Atlantic and Pacific gateways, casting immediate uncertainty over who will control the Balboa and Cristóbal container terminals and complicating CK Hutchison’s proposed $23 billion sale of its global ports business to a consortium led by BlackRock and Mediterranean Shipping Company. In a ruling issued after what it called “extensive deliberation,” the court found the laws and state…

Somalia, Türkiye agree on Port of Mogadishu upgrades to boost trade, revenue MOGADISHU, Somalia — Somalia and Türkiye have agreed to develop new infrastructure projects at the Port of Mogadishu to expand trade, raise state revenue and improve efficiency at the country’s main maritime gateway, officials said Wednesday. The agreement followed talks in Mogadishu with a senior Turkish delegation led by Durmuş Ünüvar, Türkiye’s deputy minister of transport and infrastructure, signaling a renewed phase of cooperation…

Tuesday January 27, 2026 DAVOS, Switzerland — Eric Trump has denied holding talks or discussing port investments with North Western State of Somalia President Abdirahman Mohamed Abdullahi after reports and a widely shared photo suggested the pair met on the sidelines of the World Economic Forum in Davos. A spokesperson for Trump said Abdullahi attended a dinner reception where the U.S. president’s son was present, but emphasized there was no private meeting. “At no point did Eric Trump ever have a meeting with the North…

Somalia says WFP food aid fully returned after Mogadishu port warehouse dispute; U.S. pauses some assistance MOGADISHU — Somalia’s federal government said it has returned in full all World Food Programme supplies removed from a warehouse at the Port of Mogadishu, taking responsibility for the incident and pledging tighter coordination with aid partners after the United States announced a pause on certain assistance. In a statement issued late Saturday, the Ministry of Foreign Affairs said the government “takes full…

DUBAI (AX) — DP World said Tuesday its operations at Berbera Port are continuing as normal, brushing aside immediate disruption concerns after Somalia’s federal government declared it was canceling all agreements with the United Arab Emirates, including port, defense and security deals. The Dubai-based ports operator said it remains bound by its existing agreements with North Western State of Somalia, the self-declared republic that Somalia considers part of its territory. The company declined to comment on what it…