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Global stocks mostly fall as US rally shows signs of fatigue

Global stocks mostly fell Thursday as US indices pulled back from records while Washington awaited Tehran's response to a US plan to end the Middle East war and reopen the Strait of Hormuz.

Crude oil fell sharply early in the session amid hopes for a peace deal that ends the strait disruption. But oil prices later cut losses.

The benchmark international oil contract Brent Crude finished just above $100 at $100.06 a barrel, down 1.2 percent.

Wall Street indices pulled back from records as markets await Iran's response to a US proposal to end the Middle East war

US reinstates deportation proceedings against pro-Palestinian student Mahdawi 

By Kanishka Singh

WASHINGTON, May 6 (Reuters) - The U.S. Board of ImmigrationAppeals has reinstated deportation proceedings against pro-Palestinian student Mohsen Mahdawi, according to a court filing from his lawyers.

A U.S. immigration judge in February had rejected efforts by President Donald Trump's administration to deport the Columbia University student, who was arrested last year following his participation in pro-Palestinian protests.

FILE PHOTO: Columbia University student Mohsen Mahdawi poses for a portrait inside Havemeyer Hall on the Columbia University campus in New York City, New York, U.S., May 18, 2025.   REUTERS/Ryan Murphy/File Photo

Energy crisis front and centre as ASEAN leaders prepare for summit 

By Mikhail Flores and Karen Lema

CEBU, Philippines, May 7 (Reuters) - Conflicts far beyond Southeast Asia are expected to dominate discussions of leaders of the regional ASEAN bloc meeting in the Philippines, with the Middle East crisis posing significant challenges for its fuel import-dependent economies.

FILE PHOTO: Tanks of liquefied petroleum gas (LPG) are stocked at a store amid rising fuel prices due to disruptions caused by the Iran war, in Manila, Philippines, April 15, 2026. REUTERS/Eloisa Lopez/File Photo

Trump says US had very good talks with Iran in last 24 hours

WASHINGTON, May 6 (Reuters) - U.S. President Donald Trump on Wednesday told reporters that the U.S. has had very good talks with Iran in the last 24 hours, adding that it was very possible that Washington and Tehran would make a deal.

(Reporting by Jacob Bogage and Katharine Jackson; Writing by Daphne Psaledakis; Editing by Jasper Ward)

U.S. President Donald Trump speaks during an event to mark Military Mother's Day, in the East Room at the White House in Washington, D.C., U.S., May 6, 2026. REUTERS/Kylie Cooper

Israel says carried out strike targeting commander of Hezbollah's elite force

May 6 (Reuters) - The Israeli military carried out a strike on Wednesday on the southern suburbs of Beirut in a Hezbollah stronghold known as Dahiyeh, targeting the commander of the militant group's elite Radwan force, according to an official Israeli statement.

The strike was the first to hit Beirut's suburbs since the April 16 ceasefire, although hostilities in the south of Lebanon have not halted.

People sit on a balcony near the site of an Israeli strike that took place before a temporary ceasefire went into effect, on the southern suburbs of Beirut, Lebanon, May 6, 2026. REUTERS/Mohamed Azakir

Trump says United States will get uranium from Iran

WASHINGTON, May 6 (Reuters) - President Donald Trump said on Wednesdaythe United States would get enriched uranium from Iran, as the two countries struggle to reach an agreement on ending the Gulf war.

"We're going to get it," Trump told a reporter as he left a White House event.

One of Trump's central objectives in launching military strikes against Iran was to ensure Tehran does not develop a nuclear weapon. Iran has yet to hand over more than 900 pounds (408 kg) of highly enriched uranium.

FILE PHOTO: U.S. President Donald Trump holds a meeting in the Situation Room at the White House in Washington, D.C., U.S. June 21, 2025.  The White House/Handout via REUTERS/File Photo

Trump says Iran wants to make a deal

WASHINGTON, May 6 (Reuters) - U.S. President Donald Trump said on Wednesday that Iran wants to negotiate and make a deal, adding that the U.S. was doing very well in Iran and that it was going very smoothly.

"We're doing very well in Iran. It's going very smoothly, and we'll see what happens. They want to make a deal, they want to negotiate," Trump said at an event at the White House.

"We're dealing with people that want to make a deal very much, and we'll see whether or not they can make a deal that's satisfactory to us."

U.S. President Donald Trump speaks during an event at The Villages Charter School at The Villages, Florida, U.S., May 1, 2026. REUTERS/Nathan Howard/File Photo

Macron says he discussed Hormuz situation with Iran's president

PARIS, May 6 (Reuters) - French President Emmanuel Macron said on Wednesday that he had held further talks with Iranian President Masoud Pezeshkian, during which Macron had reaffirmed the importance of freeing up shipping in the Strait of Hormuz.

Macron added he had encouraged Iran's president to look at the plans by France and Britain to set up an international mission to lay the groundwork for safe transit through the Strait of Hormuz.

Iran's President Masoud Pezeshkian meets with France's President Emmanuel Macron in New York City, U.S., September 24, 2024. Iran's Presidency/WANA (West Asia News Agency)/Handout via REUTERS

Gulf's fragile trade lifeline hangs on two eastern UAE ports

By Sarah El Safty, Federico Maccioni and Amr Alfiky

FUJAIRAH, May 6 (Reuters) - At the UAE port of Fujairah, conveyor belts offloaded grain from bulk carriers on Wednesday, while crude oil flowed through pipes and onto tankers berthed along its quay.

Dozens of loaded trucks lined up near the port and others parked outside waiting their turn, while offshore, vessels labelled Cosco, Gardenia and other shipping lines lay at anchor, service boats weaving between them.

A cargo ship docked at the Port of Fujairah, as the U.S.-Israel conflict with Iran limits marine traffic in the Strait of Hormuz, in Fujairah, United Arab Emirates, May 6, 2026. REUTERS/Amr Alfiky