Oil rises as Iran war enters seventh day

Crude oil has crossed 80 dollars per barrel On Thursday, the Iran war entered its seventh day and continued to disrupt global energy supplies. Iran’s Foreign Minister Abbas Araghchi said Thursday that his country was “not asking for a ceasefire” from the US and Israel, but President Donald Trump said his administration would turn its attention to Cuba after US military operations in Iran end.

Along with energy disruption, turmoil in the Middle East Dubai’s status as a global wealth center has been shattered, with the wealthy scrambling to escape the largely tax-free haven. In the past week, missiles have hit tourist and civilian locations, including the UAE 5-star Fairmont The Palm Hotel and Dubai Airport.

In the US, the Anthropic-OpenAI rivalry continues. OpenAI CEO Sam Altman took swipes at rival Anthropic on Thursday, saying he thinks it’s “bad for society” if companies start abandoning their commitment to the democratic process because “some people don’t like the person or people currently in charge.” That comes after the Defense Department clashed with Anthropic in recent weeks over how the agency could use its AI models.

Adding another layer of uncertainty to markets, Trump’s tariffs are facing a new legal battle after New York’s Attorney General Letitia James and top prosecutors from 23 other states sued to once again block his global tariff regime.

Iran’s Shahed drone: How ‘poor man’s cruise missile’ is shaping Tehran’s retaliation

The Shahed-136 ‘kamikaze’ drone is central to Iran’s retaliation strategy against the US and its regional allies, which has so far released thousands of people.

The weapon, first designed in Iran, is already a tool of modern warfare, with Tehran’s strategic partner Russia using the technology in its years of war with Ukraine.

Although drones seem unremarkable compared to sophisticated weapon technologies and most are shot down by America’s allies, many Shaheds still manage to hit their targets.

“The Shahed-136, among other unmanned aerial systems, has allowed states like Russia and Iran a cheap way to impose disproportionate costs,” an analyst said.

– Dylan Butts