Donald Trump postponed his meeting with Xi Jinping by about 1 to 2 months due to the US involvement in the Iran war. While the delay introduces some uncertainty in relations, it gives China more time to reassess its position amid Middle East tensions. Officials say the pause is unlikely to have a major impact on the overall economic relationship.

US President Donald Trump said his country does not know whether Ayatollah Mojtaba Khamenei, Iran's new leader, is still alive. Meanwhile, US allies have shown reluctance to respond to Washington's request for help in escorting ships through the Strait of Hormuz. According to some reports, US Special Envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi are in contact via the Signal messaging app. Separately, Iran linked maritime traffic in the Strait of Hormuz has reached its highest level since the start of the war.

Goldman Sachs investment bank warned that the impact of the Middle East war on refined products like jet fuel and diesel has been greater than on crude oil. According to the report, while Brent crude prices have exceeded 100 dollars per barrel, fuel costs in parts of Asia have doubled. This disruption stems from the near complete halt of

Australia's central bank raised its interest rate for the second consecutive month in an unexpected move, increasing it to 4.1 percent by a 5 to 4 vote. The decision was driven by intensifying inflationary pressures resulting from rising energy costs due to the Iran war. The Reserve Bank warned that inflation may remain above its 2 to 3 percent target range for longer than previously anticipated, with some economists forecasting the country's inflation rate could reach 5 percent.