Oil prices pulled back after a dramatic surge to a four-year peak above $126 a barrel today, as traders weighed the risk that the US-Iran war could intensify into a longer conflict and choke Middle East supplies in a way that would threaten global economic growth. The rally gathered pace earlier after Axios, citing unidentified sources, reported overnight that US President Donald Trump was due to be briefed today on plans for a series of military strikes on Iran, an effort aimed at pressuring Tehran back into talks over its…

The United States–Iran crisis is not a two-player standoff. It is a layered confrontation running from Washington and Tehran through a lattice of militias, allies, maritime chokepoints and nuclear facilities. Understanding who the main actors are—and what levers they control—clarifies why the standoff persists, where it can flare and how it might be defused. The U.S. presidency is the cockpit of American policy, blending deterrence with limited diplomacy. The White House sets risk tolerance, balances support for Israel,…

Analysis: U.S. military buildup in the Middle East raises specter of war with Iran as diplomacy stalls The arrival of the USS Gerald R. Ford — the world’s largest aircraft carrier — at a U.S. naval base on Crete has turned a simmering standoff with Iran into a test of resolve and restraint. With the USS Abraham Lincoln already in the region, hundreds of fighter jets, and critical enabling assets such as refueling tankers and airborne warning and control systems in place, Washington has amassed its most formidable presence in…

GENEVA — Oman said the United States and Iran made “significant progress” in talks aimed at breaking a longstanding nuclear impasse and averting potential new U.S. strikes, as both sides agreed to reconvene within a week and send technical teams to Vienna. Omani Foreign Minister Sayyid Badr Albusaidi, who is mediating the diplomacy, said on X, formerly Twitter, that negotiations in Switzerland ended with “creative and positive ideas” on the table and a plan to resume discussions soon after consultations in both capitals.…

WASHINGTON — Senior Israeli and Saudi officials are holding separate talks in Washington this week as U.S.-Iran tensions rise and President Donald Trump weighs possible military action, officials said. Israel’s military intelligence chief, Maj. Gen. Shlomi Binder, met Tuesday and Wednesday with senior officials at the Pentagon, the CIA and the White House, according to people familiar with the meetings. The discussions centered on updated intelligence assessments and potential targets inside Iran should strikes be…