Trump optimistic for deal as Tehran yet to respond

Iran is reviewing the latest US proposal and will pass its response to Pakistan after "finalizing its views." Trump claimed the latest round of talks were "very good." DW has more.

Welcome to DW's coverage of the ongoing conflict in the Middle East on Thursday, 7 May, 2026.

You can catch up on Wednesday's developments here .

Shell reports high first-quarter profits
Energy giant Shell on Thursday beat analyst expectations and reported profits of $6.92 billion (€5.87) for the first three months of 2026, which is nearly 25% higher than last year, and comes as the war in Iran has sent energy prices soaring .

In its earnings statement Shell said the strong results were "enabled by our relentless focus on operational performance in a quarter marked by unprecedented disruption in global energy markets."
French oil and gas giant TotalEnergies also recently reported a 51% jump in earnings during the January-March period.

The increase in oil company profits amid the soaring energy costs for consumers has been met with criticism.

"Fossil fuel giants are pocketing monstrous profits while drivers are being squeezed at the petrol pump and households are set to pay higher energy bills," said Danny Gross, climate campaigner at Friends of the Earth environmental organization.

The dramatic rise in energy prices has led to calls for the European Union to introduce a so-called windfall tax on oil and gas companies, to use some of their profits to help governments fund relief schemes.

US gas prices soar as Iran standoff fuels oil market fears
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Iran denies attacking South Korean ship
Iran's embassy in Seoul on Thursday said it "firmly rejects and categorically denies" attacking a South Korean cargo ship in the Strait of Hormuz earlier this week.

The Panama-flagged HMM Namu was damaged by an explosion and fire on Monday while transiting the strategic waterway with 24 crew members on board.

US President Donald Trump said later that Iran had "taken some shots" at the vessel.

He also urged South Korea to join now-paused US-led efforts to restore shipping through the strait.

Iranian strike hits UAE as Strait of Hormuz crisis widens
Iran port organization offers services to stranded ships
Iran's Port and Maritime Organization has offered to provide general maritime services to commercial vessels in the Strait of Hormuz , Iran's official Islamic Republic News Agency reported on Thursday morning.

The organization said it stood ready to provide ships with provisions, fuel, medical supplies and authorized items needed for repairs.

The message is set to be broadcast thrice daily for the next three days to ships in the region via UHF radio.

The Strait of Hormuz remains effectively closed.

On Tuesday, the UAE accused Iran of firing at an oil tanker attempting to pass through the strait while on Wednesday, the US military fired at an Iranian oil tanker headed in the other direction.

US State Department issues warning over Polymarket
The US State Department has warned its staff not to use confidential information to place bets on sites like Polymarket and Kalshi, The Wall Street Journal reported.

"Recent press reports have raised concerns about U.S.

government officials using nonpublic government information to place wagers on online prediction markets, such as Kalshi or Polymarket," the State Department memorandum reads.

"All employees are reminded that the misuse of nonpublic information by Department employees for financial benefit is a very serious offense and will not be tolerated."
Hundreds of millions of dollars has poured into bets about the US-Iran negotiations as well as other wagers regarding the war.

Several accounts won large sums after placing well-timed bets on US President Donald Trump's announcement of a ceasefire in April, prompting calls for closer scrutiny of such platforms.

Last month, a US soldier was charged with using classified information to place bets tied to the capture of Venezuelan President Nicolas Maduro, winning $400,000 (€342,480) in the process.

Crypto Gambling or Forecasting Tool?

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Trump says Iran deal 'very possible'
US President Donald Trump has expressed optimism over the latest round of peace negotiations with Iran.

"We've had very good talks over the last 24 hours, and it's very possible that we'll make a deal," he told reporters in the Oval Office late on Wednesday.

Later on Wednesday, during a tele-rally for a Republican gubernatorial candidate, Trump again promised "it'll be over quickly."
But Trump also threatened to resume bombing Iran if it doesn't agree US demands to end its nuclear program and reopen the Strait of Hormuz.

"If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before," he wrote on his Truth Social platform.

A spokesperson for Iran's Foreign Ministry said a proposal put forward by the us was "under review" and that Tehran's response would be communicated to mediator Pakistan "after finalizing its views."
US-Iran war: What options are left for Trump on Iran?

Hello and welcome to DW's coverage of the ongoing conflict in the Middle East on Thursday, 7 May, 2026.

Iran's Foreign Ministry said on Wednesday that a ceasefire proposal put forward by Washington was "under review."
US President Donald Trump later said on social media that "it's very possible that we'll make a deal."
And Israeli Prime Minister Benjamin Netanyahu on Wednesday said a strike in Beirut targeted a senior Hezbollah commander.

Beirut and its southern suburbs had been spared Israeli attacks since April 8.

Strikes in Lebanon raise questions over attacks on medics
Stay tuned for more throughout the day in our blog.