U.S.-Iran strikes on hold as West Asia walks tightrope between war and talks

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U.S.-Iran strikes on hold as West Asia walks tightrope between war and talks

The United States and Iran have been exchanging military strikes across the Gulf even as Washington maintains that diplomatic engagement will carry on. A fragile understanding reached on June 17 has failed to fully halt hostilities, with Iran targeting American military installations in Kuwait and Bahrain. The standoff is rattling markets — oil prices are climbing while gold slides lower.

TrendKia Desk 1 min read For AI

The United States and Iran have been exchanging military strikes across the Gulf even as Washington maintains that diplomatic engagement will carry on. A fragile understanding reached on June 17 has failed to fully halt hostilities, with Iran targeting American military installations in Kuwait and Bahrain. The standoff is rattling markets — oil prices are climbing while gold slides lower.

Live updates

June 29, 2026 08:39
Gold Retreats as Gulf Strikes Push Oil Higher, Fed Rate-Hike Fears Pile On
Gold prices pulled back on Monday, June 29, 2026, as intensifying U.S.-Iran military exchanges in the Gulf drove crude oil prices higher, while growing expectations of interest rate hikes by the U.S. Federal Reserve heaped additional pressure on the non-yielding metal. Spot gold declined 0.7% to $4,061.35 per ounce as of 0242 GMT, while U.S. August gold futures slipped 0.5% to $4,076.40. The metal is now on track for a fourth straight monthly loss, having shed 10.4% so far this month. Crude oil surged after Iran unleashed missiles and drones against American military bases in Kuwait and Bahrain in the early hours of Sunday — a move that came shortly after U.S. President Donald Trump issued a blunt warning that Iranian leaders would face elimination if they failed to honour the terms of the agreement to bring the conflict to an end. – Reuters
June 29, 2026 08:00
Israel presses ahead with Lebanon strikes despite newly signed framework ceasefire deal
Israel launched fresh strikes against Lebanon on Sunday (June 28, 2026), Lebanese state media reported, just two days after both nations signed a framework agreement aimed at bringing their armed hostilities to a close. A Hezbollah parliamentarian warned that these attacks risked triggering "internal conflict." Israel continued its military action in southern Lebanon despite having put its signature on a framework deal explicitly designed to wind down the fighting between the two countries.
June 29, 2026 07:59
Israel wipes out Hezbollah underground network in southern Lebanon village
The Israeli military knocked out underground facilities belonging to Lebanese militant group Hezbollah in a village in southern Lebanon, as confirmed in a joint statement by Israel's Prime Minister and Defence Minister on Sunday (June 29, 2026). Israel had informed the United States before launching the operation. The strike targeted and eliminated Hezbollah's subterranean network in the southern part of the country.
June 29, 2026 07:59
Profile | War on Iran: The unravelling of a superpower's West Asia dominance
"When we are finished, take over your government. It will be yours to take. This will be probably your only chance for generations," U.S. President Donald Trump told the Iranian people on February 28, after the U.S. and Israel had launched a full-scale war against their nation. He called on the Islamic Revolutionary Guard Corps (IRGC), the armed forces, and the police to surrender their weapons, warning that compliance would mean "total immunity" while resistance would bring "certain death." The war set in motion by the U.S. and Israel has now arrived at a fragile pause through a preliminary understanding between Washington and Tehran, yet the fighting has already substantially eroded America's footprint and sway across the region.
June 29, 2026 07:49
U.S. and Iran agree to halt attacks, Qatar talks set for Tuesday: American media
American media, citing senior U.S. officials, reported that the United States and Iran have reached a mutual agreement to cease their exchange of strikes, with both nations planning to convene in Qatar on Tuesday (June 30, 2026) to work through their dispute over the Strait of Hormuz. "We decided to stop all the kinetic activity," a top U.S. official told Axios on Sunday, using the military term for active strike operations. A second American official confirmed to Axios that both sides are standing down "for now" and that "vessels can move freely" through the waterway, even as negotiations are set to continue. — AFP

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