China Calls for ‘Complete’ End to War
China’s Foreign Minister Wang Yi called for an end to hostilities in the Middle East and for the United States and Iran to reopen the Strait of Hormuz “as soon as possible,” during talks with his Iranian counterpart Abbas Araghchi.
“China considers that a complete cessation of fighting must be achieved without delay, that it is even more unacceptable to restart hostilities, and that continuing to negotiate remains essential,” he said, according to a statement from his ministry after the talks.
Oil Prices Slide
Oil prices fell on Wednesday, with West Texas Intermediate briefly dipping below $100 a barrel, extending losses from Tuesday.
The cheaper oil prices provided support to equities, with investors taking their cue from another record day for the S&P 500 and Nasdaq, fuelled again by tech firms.
French Ship Targeted
French shipping company CMA CGM said one of its vessels, the CMA CGM San Antonio was targeted by an attack in the Strait of Hormuz on Tuesday. It said some crew were injured and had been evacuated.
Israel Warning
Israel’s military issued an evacuation warning for a dozen villages in south Lebanon ahead of expected strikes, despite a truce with Lebanon intended to halt fighting with Iran-backed Hezbollah.
Us Demands Action From New Iraq PM
The US is looking for “concrete actions” by Iraq’s next prime minister to distance the state from pro-Iran armed groups before resuming financial and security aid, a senior official said Tuesday after talks between US President Donald Trump and new Iraqi leader Ali al-Zaidi.
Lufthansa Warns of Risks
Germany’s Lufthansa joined airlines warning of the risks from the Middle East war to warned Wednesday of rising risks to the firm’s financial performance and potential shortages of jet fuel.
Lufthansa said that it has already locked in the price for about 80 percent of its 2026 fuel supplies, but extra kerosene costs would amount to 1.7 billion euros ($2.0 billion) this year.
US Pauses Hormuz Escorts
President Trump said Tuesday he was halting the US military operation to escort ships through the Strait of Hormuz after just one day, in a bid to reach a deal with Iran to end the Middle East war.
Trump’s so-called “Project Freedom” to help vessels leave the strait began on Monday.
But the US leader said on Truth Social that he was now pausing it after a request by mediator Pakistan and other countries, saying that “Great Progress has been made toward a Complete and Final Agreement” with Tehran.
Rubio, Lavrov Talk Iran, Ukraine
US Secretary of State Marco Rubio spoke by telephone with Russian Foreign Minister Sergei Lavrov about the Middle East war and the Ukraine conflict, according to the State Department.
Rubio later said that the US has completed its offensive operations against Iran. “The operation is over – Epic Fury – as the president notified Congress. We’re done with that stage of it,” Rubio told reporters at the White House.
