The US State Department has announced a reward of up to $10 million for information leading to Iran’s new supreme leader, Mojtaba Khamenei, and several other senior Iranian officials.

The announcement was made by the US Department of State on Friday under its Rewards for Justice Program.

The first major attack on an island that exports the bulk of Iran’s oil threatens the lifeblood of the Islamic Republic, as well as global supplies in a market already rocked by the two-week-old conflict in the Middle East.

The US bombed military targets on Kharg Island in the Persian Gulf, but spared oil infrastructure for now, President Donald Trump said in a post on his Truth Social account. He warned Iran’s leaders that he would immediately reconsider that decision if they interfered with ships transiting the Strait of Hormuz.

The United States on Thursday announced a 30-day waiver allowing countries to purchase sanctioned crude oil and petroleum products from Russia that are already stranded at sea, in an effort to cool crude oil prices hovering around $100 per barrel amid the conflict involving the US, Israel and Iran.

President Donald Trump is scrambling to replace the revenue the federal government lost when the Supreme Court struck down his biggest and boldest tariffs last month.

If the effort succeeds, congressional Democrats warn in a study out Friday, the administration's import taxes will cost American households an average of $2,512 in 2026, up 44 per cent from $1,745 in tariff costs last year.

From Bangkok to Manila, officials in Southeast Asia are rolling out work-from-home mandates and other fuel conservation measures to shield their economies from surging oil prices, underscoring how an energy shock triggered by the war in Iran is reshaping daily routines half a world away.

Thailand is requiring most government agencies to adopt full-time work-from-home arrangements as part of emergency efforts to reduce energy demand.

The US-Israeli strikes have significantly weakened Iran and its clerical leadership but cannot guarantee regime change in the country without an internal uprising, Prime Minister Benjamin Netanyahu said in his first press briefing since the start of the war.

“We are creating the optimal conditions for a toppling of the regime,” the Israeli leader told reporters via a video conference, adding that forms of aid for the Iranian opposition will include airstrikes such as those carried out by the Israeli Air Force on Basij Force roadblocks and soldiers in Tehran a day earlier.

Iran’s new Supreme Leader Mojtaba Khamenei on Thursday said the Strait of Hormuz would remain closed and be used as a tool to pressure Iran’s enemies, even as he vowed to continue attacks against his country's neighbours in the wider West Asia region.

He also called for the immediate closure of all United States' bases in the region, failing which they would continue to face attacks.

Amid growing concerns over the West Asia conflict, restaurants, eateries and consumers fear disruptions in liquefied petroleum gas (LPG) shipments. The situation has raised worries about higher prices and reduced output in some sectors. The gig workers’ union has also warned that the crisis could affect the food delivery ecosystem.

US President Donald Trump on Tuesday (local time) announced the opening of a new oil refinery in Brownsville, Texas, the first such project in the US in 50 years, calling it part of a $300 billion deal and thanking Reliance Industries for the investment.

Trump shared the development on his social media platform Truth Social, saying the refinery would help power American energy markets and strengthen the country’s energy security.

IndiGo's Chief Executive Officer (CEO) Pieter Elbers has stepped down, the country's largest airline said on Tuesday. His resignation comes after the carrier faced its worst-ever operational crisis in December last year.

The company said Elbers had resigned from his position with immediate effect due to personal reasons.

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