Iran, US-Israel war LIVE updates: Brent crude steadies at $106/bbl as Trump says China offered to help reopen Strait of Hormuz
Iran’s Revolutionary Guard reported dozens of ships, including Chinese-owned vessels, crossed the Strait of Hormuz under Tehran’s protocols as tensions rise, while Donald Trump claimed Chinese President Xi Jinping offered to help keep the waterway open. Meanwhile, the US hosted productive Israel-Lebanon talks in Washington to extend a fragile ceasefire before its Sunday expiration, amid warnings from Iran’s Foreign Minister Abbas Araghchi about US-Israel ‘warmongering’ and IMF concerns over global economic risks from prolonged conflict.
Tensions in the Middle East escalated as Iran’s Revolutionary Guard announced that dozens of ships, including Chinese-owned vessels, crossed the Strait of Hormuz under Tehran’s ‘management protocols,’ signaling continued control despite regional instability. Iran’s Foreign Minister Abbas Araghchi accused the US and Israel of ‘expansionism and warmongering,’ warning that further instability would harm all parties involved. The US dismissed the need for China’s assistance on Iran but acknowledged that former President Donald Trump and Chinese President Xi Jinping discussed the Strait’s security during their interactions. Oil markets reacted to the developments, with Brent crude trading at $106.49 per barrel as of early Friday, May 15, 2026. The IMF cautioned that prolonged disruptions from the Iran-Israel conflict could slow global growth and increase inflation, heightening concerns over economic fallout. Meanwhile, Saudi Arabia hinted at potential ‘non-aggression’ talks between Iran and regional states once hostilities conclude, reflecting shifting diplomatic dynamics. The US hosted the third round of Israel-Lebanon talks in Washington, with officials describing the first day as ‘productive and positive.’ Negotiations aim to extend the current ceasefire, set to expire on Sunday, and address long-standing disputes, including Israel’s military presence in southern Lebanon and Hezbollah’s disarmament. Lebanese representatives emphasized the urgency of renewing the ceasefire to avoid further escalation. Analysts noted Iran’s close monitoring of US-China relations, as China now purchases 90% of Iran’s crude oil and remains its primary economic partner. Middle East Institute senior fellow Alex Vatanka highlighted Iran’s reliance on China for trade, defense equipment, and economic stability, suggesting Tehran seeks assurances Beijing will not abandon it amid rising tensions. Trump’s claim that Xi offered to help secure the Strait of Hormuz underscored the waterway’s global significance, with disruptions posing risks to oil supplies and fuel prices worldwide.
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