US-Iran War News Live Updates: Brent Crude On The Boil Again As All Eyes On Trump-Xi Jinping Meet Today

US President Donald Trump is set to arrive in Beijing on Wednesday for a state visit with Chinese leader Xi Jinping at a restless moment for a world worried about war, trade and artificial intelligence. "We're the two superpowers," Trump told reporters as he departed the White House on Tuesday. “We're the strongest nation on Earth in terms of military. China's considered second."

While Trump likes to project a sense of strength, the state visit occurs at a delicate moment for his presidency as his popularity at home has been weighed down by the US and Israel's war with Iran and rising inflation as a consequence of that conflict. The president is seeking a win by signing deals with China to buy more American food and aircraft, saying he'll be talking with Xi about trade “more than anything else.”
 

US president slams CNBC for what he calls an "incorrect reporting" with reports of Jensen Heung not invited to China. 

On a post on Truth Social, Trump wrote, "CNBC incorrectly reported that the Great Jensen Huang, of Nvidia, was not invited to the incredible gathering of the World’s Greatest Businessmen/women proudly going to China. In actuality, Jensen is currently on Air Force One and, unless I ask him to leave, which is highly unlikely, CNBC’s reporting is incorrect or, as they say in politics, FAKE NEWS! It is an Honor to have Jensen, Elon, Tim Apple, Larry Fink, Stephen Schwarzmann, Kelly Ortberg (Boeing), Brian Sikes (Cargill), Jane Fraser (Citi), Larry Culp (GE Aerospace), David Solomon (Goldman Sachs), Sanjay Mehrotra (Micron), Cristiano Amon (Qualcomm), and many others journeying to the Great Country of China where I will be asking President Xi, a Leader of extraordinary distinction, to “open up” China so that these brilliant people can work their magic, and help bring the People’s Republic to an even higher level! In fact, I promise, that when we are together, which will be in a matter of hours, I will make that my very first request. I have never seen or heard of any idea that would be more beneficial to our incredible Countries!"

US President Donald Trump said:

• Only going to make a good deal with Iran.
• Pakistan has been great.
• Going to have a long talk about Iran with China.
• 'My policies are working'.
• Will do a lot of business with China.
• Will discuss end of war in Ukraine.
• End of war in Ukraine is very close.
• OPEC is having difficulties.
• Very disappointed with NATO.
• Don't think we need China help with Iran.
• Will have great relationship with China for decades.
• To Keir Starmer: Open up your North Sea oil.
• Will talk to Xi (Jinping) mainly about trade.
• Iran not a priority discussion with China.

US National Economic Council Director Kevin Hassett Said:

• Trump's view is we should modernise on gasoline tax.
• Going into Trump-Xi meet 'very ambitious'.
• Guess China would want to re-inspect its Iran relations.
• No rush with Iran talks as their economy is on the brink.
• High energy prices very unlikely to cause US recession.
• Trump to decide whether new executive order on AI needed.
• Premature to say what government will do on AI rules.
• Trump confident that Strait of Hormuz will open soon.

Iran didn't immediately acknowledge the allegation by Kuwait, which came under attack by Iran in the war and during the shaky ceasefire still holding. But that allegation and ongoing attacks throughout the region have threatened to reignite open warfare.
 

Kuwait said a paramilitary Revolutionary Guard team tried to infiltrate Bubiyan Island in the northwest corner of the Persian Gulf near Iraq and Iran on May 1. Four men were detained and two escaped when Kuwait's forces disrupted the attack. Kuwait provided no reason for why it delayed linking the attack to Iran after initially announcing it on May 3 without any details.

US ambassador to Israel Mike Huckabee, a one-time presidential candidate, revealed at a conference in Tel Aviv, Israel, that Israel has sent Iron Dome air-defence to the UAE.

The United Arab Emirates diplomatically recognised Israel in 2020. That drew criticism from Iran, long Israel's main regional enemy. Iran didn't immediately respond to Huckabee's remarks, though it has repeatedly suggested over the years that Israel maintained a military and intelligence presence in the Emirates.


(Source: AP)

One of Norway's top diplomats met Tuesday with Iranian Foreign Minister Abbas Araghchi in Tehran, pressing for the need to open the strait. Deputy Foreign Minister Andreas Kravik stressed that the attacks on commercial shipping and obstruction of the passageway must end, his minister, Espen Barth Eide, said in an email.

Kravik said Iran's actions affecting third-party countries are “completely unacceptable” and noted that Norway has some 25 vessels stranded, according to Eide.


(Source: AP)

US Defence Secretary Pete Hegseth avoided specifics about the next steps in Iran. The Pentagon's top budget official told Congress that the cost of the war is close to $29 billion so far — that's up from an estimate of $25 billion just two weeks ago.

US Defence Secretary Pete Hegseth told members of Congress Tuesday that the military has plenty of bombs and missiles despite concerns about its stockpiles. He also maintained that the US is in control of the Strait of Hormuz, even as Iranian attacks — and threats — have disrupted the shipment of oil and other products through the vital waterway.

"Ultimately we control the strait, because nothing's going in that we don't allow to go in," said Hegseth, who faced tough questions from Republican and Democratic lawmakers who oversee defence spending.

Video: Trump, "OPEC is having some difficulty right now, but that has nothing to do with me. NATO was very disappointing to me."

US President Donald Trump said "hundreds of ships loaded up with oil" are waiting to be released, and once they come out there will be a "gush of oil" that drives inflation "way down." He called current inflation short-term and "nothing by comparison" to Biden, who he claimed "had the highest inflation in the history of our country." Trump said inflation was 1.7% for three months before the war and predicted it will fall to "probably 1.5%" when the war ends.

Responding to ANI's question regarding whether he would extend the waiver on sanctioned Russian oil to help ease crude prices, US President Donald Trump says, "...We are going to whatever is necessary, including this war over will not be long. You're going to see oil prices drop, and you're going to see a stock market, which is already at the highest point in history... You're going to see the golden age of America, frankly, and you're seeing it now..." [sic]

US President Donald Trump said, "We have Iran very much under control. We're either going to make a deal or they're going to be decimated. One way or the other, we win."