Abu Dhabi, April 28: The United Arab Emirates announced Tuesday that it will leave OPEC effective May 1, stripping the oil cartel of one of its largest producers. While the announcement doesn’t change anything regarding the blockage of the Strait of Hormuz, it could help lower oil prices after the war if the UAE increases its production capacity. On Tuesday, Brent crude oil traded above $111 a barrel, over 50% higher than its prewar price.

Iran offered to end its chokehold on the Strait of Hormuz if the U.S. lifts its blockade on the country and ends the war in a proposal that would postpone discussions on the Islamic Republic’s nuclear program, two regional officials said Monday. U.S. President Donald Trump seems unlikely to accept the offer, and U.S. Secretary of State Marco Rubio appeared to rule out any deal that excludes Iran’s nuclear program. US Appears Cold to Iranian Proposal To End War Without Nuclear Deal.

Dozens of nations repeated calls to open the critical waterway in a joint statement led by Bahrain. German Chancellor Friedrich Merz criticized the U.S. for going into the war with what he said was no strategy.

Here is The Latest:

Israel Destroys Alleged Hezbollah Tunnel Network in Southern Lebanon

The military detonated a large explosion late Tuesday in Qantara, and Israel’s Geological Survey said the blast was so powerful it registered as a “seismic event.” The army said the network included two large tunnels — one about 800 meters (yards) long and the other 1.2 kilometers (0.7 miles) — that were equipped with sleeping rooms, toilets, kitchen facilities and launchers aimed at Israel. It released photos and video footage of what it said were the tunnels. What Is Iran’s 3-Stage Formula Proposed to the US for Ending the War?.

An Israeli military official said the network included large rooms where over 100 Hezbollah fighters could gather at once. He also said it ran underneath and alongside a mosque, school and soccer field. The town is roughly 10 kilometers (6 miles) from the Israeli border. The official spoke on condition of anonymity under military briefing rules.

Israel has come under heavy international criticism for widespread destruction of homes and buildings in Lebanese towns near the border. It says that Hezbollah uses civilian infrastructure to hide its weapons and fighters. In a statement, Defense Minister Israel Katz said the army has been instructed to destroy any Hezbollah infrastructure it finds in southern Lebanon “just like in Gaza.”

Amnesty International Urges Israel To Stop Destroying Civilian Property in Southern Lebanon

The human rights organization made the statement Tuesday after a video circulated on social media showing Israeli military excavators destroying solar panels for the Lebanese border village of Debel and its water station. On Saturday, the Israeli military said it was investigating the incident after the footage emerged. Debel is the same village where a soldier was filmed earlier this month smashing a statue of Jesus, prompting international condemnation.

“Amnesty International has previously documented extensive destruction by the Israeli military along Lebanon’s border before and after the November 2024 ceasefire,” the group said, adding it had called for reparations and war crimes investigations. “So far, neither has appeared.”

Blair says Trump administration ‘has understood two very crucial things’

First, that Israel isn’t just entitled to protect its security, but will protect its security, and therefore there will be no peace in Gaza until the threat of violence against it ends, Blair said. And second, that if Hamas and other militants disarm, restrictions will be lifted.

Reconstruction plans for Gaza being worked on now “are based on this premise: Gaza not rebuilt but reimagined, a port, free movement of people and goods, proper infrastructure, new housing, fully able to access the digital economy,” Blair said.

Former UK Prime Minister Tony Blair Says Gaza Peace Plan Has Reached ‘A Pivotal Juncture’

Blair, a key member of the Board of Peace established by Trump, said Hamas needs to agree with the process of demilitarization of Gaza, and Israel needs to abide by its obligations, which include withdrawal from most of Gaza. He told a ministerial meeting of the U.N. Security Council on Tuesday that “critical demilitarization talks with Hamas are continuing.”

Blair urged the council’s 15 members to continue providing “clear and consistent political support” for implementation of Trump’s 20-point peace plan and provide funding especially for shelter, health, water and sanitation.

Israeli Strike in Northern Gaza Kills 4 Palestinians

Shifa Hospital said the Israeli airstrike hit a car in Gaza City on Tuesday, killing four men, about 6 kilometers (3.7 miles) from the so-called Yellow Line separating Israeli-controlled areas from the rest of Gaza. The Israeli military said it struck “a terrorist” but provided no further details.

Although a fragile ceasefire between Israel and Hamas in October eased large-scale fighting after two years of war, Israeli forces still carry out near-daily strikes and fire around military-held zones of the tiny Palestinian territory. Since the ceasefire, Israel has killed at least 818 people in Gaza, including 226 children and 179 women, according to health officials there.

U.N. Assistant Secretary-General Khaled Khiari said Gaza is facing “ongoing and deadly Israeli strikes and dire humanitarian conditions,” with 1.8 million people — nearly its entire population — living in camps and dependent on aid.

He told a U.N. Security Council ministerial meeting Tuesday that in the West Bank, “violence, including rampant settler attacks, displacement and accelerating settlement activity, is threatening entire communities and further eroding prospects for a political process” toward a two-state solution. In Gaza, he said, “the ceasefire is increasingly fragile as Israeli strikes and armed activity by Hamas and other groups continue.”

Khiari, whose portfolio includes the Middle East, warned that while diplomatic efforts are underway to consolidate the ceasefire and implement Phase II of the peace plan, “talks on the disarmament of Hamas and other armed groups have thus far not resulted in an agreement, raising concerns over the potential return to widespread hostilities.”

Red Cross aims to assess the humanitarian situation in Iran and encourage respect for the rules of war

The president of the International Committee of the Red Cross has arrived in Iran to meet with officials and local affiliates and assess the war’s humanitarian consequences.

Mirjana Spoljaric will also discuss efforts of the Geneva-based humanitarian organization to ship more relief supplies to Iran, notably through the Iranian Red Crescent Society.

The ICRC says it delivered more than 170 tons of essential relief items to help people affected by the conflict this month, with more medical items and forensic supplies on their way.

Her visit is part of a trip through the region that involves bilateral discussions to help ensure respect for the rules of war, the organization said.

US consumer confidence inches higher in April despite Iran war and soaring gasoline prices

The Conference Board said Tuesday that its consumer confidence index inched up to 92.8 from 92.2 in March, despite growing anxiety over soaring energy prices brought on by the war in Iran. It remains mired near its lowest level since the COVID-19 pandemic.

It’s the first read on inflation to capture the effects of the Iran war. The surge in gas prices to an average $4.18 a gallon this week, up more than a dollar since before the war, will stretch budgets and erode incomes, making it harder for lower- and middle-income American households to afford food and rent.

“Consumers are singing the blues,” said Heather Long, chief economist at Navy Federal Credit Union. “They aren’t happy with high prices for gas, housing, electricity and many other items. It’s clear consumers aren’t going to feel much better until there’s an end to the Middle East conflict.”

Without OPEC Production Limits, UAE Could Help Lower Postwar Oil Prices

The announcement doesn‘t change anything regarding the blockage of the Strait of Hormuz, but could help speed the oil market’s return to lower prices after the war, said Michael Brown, senior research strategist at Pepperstone foreign exchange brokerage. Once the war ends, the UAE could reach its pre-conflict goal of increasing production to 5 million barrels per day, “in turn helping crude benchmarks to normalize in shorter order once the ongoing Middle East conflict comes to an end,” he said.

The UAE’s Exit From OPEC Won’t Expand Global Oil Supplies Right Away

The UAE’s move appears to be part of an effort to assert themselves as leaders and independent actors in the region, and sell oil and gas when and how they see fit, said Karen Young, senior research scholar at Columbia University’s Center on Global Energy Policy.

“This exit of OPEC fits into the UAE need for flexibility with key energy consumers as well — including a future relationship with China and a more competitive relationship with Saudi Arabia,” she said.

The exit won’t immediately change export capacity, since the UAE’s lone pipeline around the Strait of Hormuz to the port at Fujairah on the Gulf of Oman is already running at full capacity, she noted. The move also indicates UAE’s frustration with regional organizations, such as the Gulf Cooperation Council, she said: “It signals regional cooperation and coordination is weak, the GCC as a unit is dead, this war has demonstrated failure of mutual defense.”

(The above story first appeared on LatestLY on Apr 28, 2026 11:29 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).