MADRID: Oscar-winning Spanish actress Penelope Cruz gave birth to her second child with husband Javier Bardem, a girl, on Monday in a Madrid hospital, a source familiar with the situation said.
Spanish media reported the birth earlier on Tuesday, citing a hospital representative, though Madrid’s Clinica Ruber declined to confirm the news and representatives for Cruz and Bardem could not be reached for comment.
Cruz, 39, was still in hospital on Tuesday, the source said, speaking on condition of anonymity.
She married fellow Oscar winner Bardem in 2010 and the couple had their first child, a boy named Leo, in Los Angeles two and half years ago.
Cruz and Bardem are the only Spanish actors to have won academy awards, both for supporting roles. They first met on the set of a Spanish film in 1992 but got together after starring in Woody Allen’s 2008 comedy “Vicky Cristina Barcelona.”
They are due to appear together in supporting roles in “The Counselor,” a film directed by Ridley Scott, scheduled for release later this year.
Penelope Cruz, husband welcome daughter same day as royal baby
Penelope Cruz, husband welcome daughter same day as royal baby
Analysis: Could Israeli strikes on Iran revive specter of $100 oil?
- Crude oil caught between escalation pressures and supply shortage scenarios as prices surge
LONDON: Energy and oil market analysts, speaking to Independent Arabia, unanimously described the surprise Israeli military strikes on Iranian targets as creating an “instantaneous market shock.”
Amid escalating geopolitical tensions, the latest military confrontations between Israel and Iran are propelling crude oil prices into dramatic territory, rekindling fears of energy crises that have historically destabilized global markets.
This unprecedented escalation sparks immediate questions about energy market disruptions, petroleum price movements, and short-term risk premium adjustments — including the possibility of crude breaching the $100 per barrel threshold.
Conversely, with reports confirming that Iranian oil refining and storage facilities remained undamaged, this factor may help cushion the shock to global petroleum markets.
Crisis background and market impact
These significant developments emerge precisely as markets were starting to digest the International Energy Agency’s “Global Energy Review 2025,” which forecast a deceleration in oil demand growth stemming from the worldwide shift toward renewable energy and electric vehicle adoption.
However, Israeli attacks on Iran’s Natanz nuclear facility and additional military targets have completely reversed these projections, aggressively thrusting supply disruption concerns and price escalation back into the spotlight.
Analysts portrayed the strike as “converting the Iranian standoff from a political matter into actual combat,” propelling oil prices higher by 7 percent to 13 percent in the steepest single-session increase since March 2022. Subsequently, Brent crude exceeded $78 per barrel as West Texas Intermediate advanced past $73.
International warnings and notable statements
These incidents align with global warnings and prominent declarations from US President Donald Trump, who acknowledged that the American leadership possessed advance intelligence about Israeli attacks on Iran, while stressing Washington’s detachment from the operations.
Trump cautioned Tehran about its nuclear ambitions, declaring: “We will not allow Iran to possess nuclear weapons... but we do not want a new war in the Middle East.”
Such pronouncements intensify the complexity of circumstances, revealing that Washington maintains vigilant oversight, while seeking to circumvent direct participation in hostilities that could trigger catastrophic repercussions for the world economy.
Throughout history, the Iranian matter has remained among the most convoluted subjects in global politics, where atomic weapon concerns merge with financial and geopolitical calculations.
Momentary shock or open conflict?
Energy and oil market analysts, speaking to Independent Arabia, unanimously described the surprise Israeli military strikes on Iranian targets as creating an “instantaneous market shock,” heightening concerns that current tensions might spiral into full-scale warfare in one of the globe’s most critical oil-producing areas.
Industry experts verified that crude price movements in the upcoming phase will hinge on three primary elements: Tehran’s likely retaliation strategy, major powers’ diplomatic stances, and whether military activities persist in the short and intermediate timeframes.
Market analysts pointed out that dramatic price spikes mainly represent “uncertainty premiums” tied to geopolitical instability, which could stay heightened while hostilities continue. This premium constitutes the additional cost petroleum purchasers bear to hedge against possible supply interruptions.
They observed that escalating geopolitical threats result in increased uncertainty premiums, pushing prices higher despite the absence of real supply constraints.
Although undamaged Iranian oil processing and storage infrastructure serves as a significant stabilizing element, analysts contend that direct strikes on Iranian petroleum facilities would have triggered instant supply cuts, accelerating prices to substantially higher territory.
They stressed that present price rises reflect anticipated future threats rather than genuine supply deficits thus far, offering the market some operational room. Put differently, the market currently confronts the prospect of oil supply interruptions rather than actual losses, constraining the scale of price increases that would have occurred had petroleum installations been specifically attacked.
Reciprocal attacks
Petroleum sector expert Kamel Al-Harami considers it challenging to forecast precise oil price targets amid present conditions, citing the potential for Middle Eastern warfare or Iranian supply interruptions affecting global markets in Asia, particularly China, India, and Japan.
Al-Harami observed that although OPEC maintains spare capacity surpassing 5 million barrels per day, crude prices jumped $7 within a 24-hour period, hitting $73 per barrel. He characterized this surge as merely the initial phase of additional gains, speculating whether values might climb to $80 or potentially $90 per barrel.
Al-Harami noted that any pricing above $65 per barrel would favor American shale operations and stimulate enhanced sector investment. He underscored that greater increases would arise from expanding warfare consequences and mutual attacks between Israel and Iran, potentially encompassing other Gulf Arab countries, thus “commencing the actual calamity.”
Strong blow to sentiment
IG market specialist Tony Sycamore described the escalation as “a major hit to market confidence” throughout financial sectors generally, not limited to energy trading, forecasting significant capital flight from risk investments by week’s close. He observed that market participants are watching for “potential Iranian reprisals,” which might shape trading patterns in upcoming sessions.
Supply concerns
Strategic analyst at Pepperstone Ahmed Aseeri explained that current price increases reflect a combination of immediate supply concerns and expectations of gradually escalating tensions, unlike previous Iran-Israel tension rounds that usually ended quickly or through international containment pressures.
Contagion spread
Phillip Nova Singapore market analyst Priyanka Sachdeva verified that Iran’s preparation for military reprisals amplifies dangers, extending beyond supply interruptions to include prospects of geopolitical spillover affecting neighboring oil-producing nations, possibly driving crude prices back to heights not witnessed in 10 years.
Production disruption
Lipow Oil Associates President Andy Lipow outlined that crude prices might surpass $100 per barrel should any Gulf petroleum production installations face disruption, although he emphasized the baseline projection presumes leading nations will work to limit escalation and avoid further deterioration.
Major doubts
XM Australia’s CEO Peter McGuire depicted “Israeli-Iranian conflicts” as producing “considerable anxiety” spurring market fluctuations, explaining that oil values react predominantly to imminent supply vulnerabilities compared with other elements.
Price projections
Natasha Kaneva, JPMorgan’s global commodities strategy chief, projected possible price crests at $120, though she balanced this by saying that markets could tumble to $40 if additional supplies materialize and demand weakens. Geopolitics maintains its dominance.
Broader conflict and worst scenario
JPMorgan detailed in a latest research analysis that the gravest outcome entails possible hostilities spreading to encompass oil supply interruptions from surrounding states, including endangering maritime transit via the Strait of Hormuz.
JPMorgan specified that this hard-line possibility holds approximately 7 percent likelihood, implying prices might achieve “explosive” growth propelled by international market alarm if the area deteriorates into extensive conflict.
Despite such warnings, the bank retained fundamental projections for Brent petroleum in the 60s per barrel territory for the remainder of 2025, expecting area and worldwide powers to suppress escalation, followed by approximately $60 in 2026.
Future scenarios
As regional geopolitical strain escalates, market observers concentrate on potential developments that might determine global crude price directions. If leading powers including the US and EU intervene to ease hostilities and forestall military reprisals between Iran and Israel, prices would likely diminish progressively toward pre-tension benchmarks. This pathway hinges on diplomatic effectiveness and immediate crisis management, which JPMorgan endorses in its fundamental outlook.
Alternatively, if Iran strikes back forcefully or hostilities broaden to encompass Iranian oil installations or Strait of Hormuz transit, petroleum prices could climb beyond $100-120 per barrel within global energy market pandemonium. This scenario might worsen should obstruction of the Strait of Hormuz happen, which JPMorgan characterized as the direst possibility, cited by Andy Lipow and Priyanka Sachdeva as realistic.
Three key factors to monitor
Against this backdrop of tensions, markets demonstrate limited potential for immediate calm, particularly as the Iranian challenge represents one of the most convoluted international political crises spanning over two decades. While investors endeavor to absorb ongoing developments, the short-range objective involves “stability” over inflated values. Hence, three principal indicators should be watched to determine pricing patterns:
First, Iran’s response style: Will it remain token or threaten supply continuity? Analysts regard Tehran’s reaction approach as the decisive factor influencing market trends in coming days.
Second, global powers’ effectiveness: Will they manage to shield the area from regional conflict? International mediation efforts need to serve crucial roles in limiting escalation and preventing progression toward wider confrontation.
Third, futures trading patterns: Do they demonstrate “sustained crisis” or “momentary surge” characteristics? Oil derivative contracts will deliver clear indications of market projections for extended timeframes. If pricing sustains long-term increases, this signals markets foresee continuing instability; if levels stabilize, this reflects perception of current turbulence as fleeting.
Broadly speaking, geopolitical dynamics will maintain control over petroleum markets in the near future, but if balance fails, effects will reach beyond energy to global price indices and economic development, with possible return to $100 pricing, potentially shadowing the entire world economy.
Pakistan calls for united Muslim strategy to counter Israel, pledges diplomatic support to Iran
- Defense Minister Khawaja Asif urges Muslim countries to sever diplomatic ties with Israel
- Iran refuses to join nuclear negotiations with the United States while Israeli strikes continue
ISLAMABAD: Pakistan’s Defense Minister Khawaja Asif on Saturday urged Muslim nations to adopt a unified strategy to counter Israel, warning that failure to act collectively would leave them vulnerable, as he expressed full diplomatic support to Iran in a speech to the National Assembly following Israeli strikes.
Israel launched surprise attacks on Iranian nuclear and military facilities in the early hours of Friday amid Tehran’s negotiations with Washington over its nuclear program. The strikes killed several senior military commanders and nuclear scientists, according to Iranian media, and also caused civilian casualties.
Israel, at war in the region since October 2023, initially launched a military campaign against Gaza following a Hamas assault, which the Palestinian group said was retaliation for decades of oppression. Since then, the Israeli government has expanded its military operations to neighboring Muslim states such as Syria and Lebanon before targeting Iran.
Pakistan condemned the Israeli action and said Iran had the right to defend itself under international law.
“Just as Israel is currently targeting Yemen, Iran, and Palestine, if the Muslim world does not unite today and continues to prioritize its own interests and agendas, then everyone’s turn will come,” Asif told lawmakers.
“An OIC meeting should be convened, and all Muslim countries must come together to devise a strategy through which Israel can be confronted collectively,” he continued. “There is a need for an initiative that reflects the unity of the Islamic world. Wherever there are diplomatic ties with Israel in the Muslim world, they should be severed.”
The Pakistani minister added the Muslim world remained “militarily vulnerable” and voiced what he described as Pakistan’s unwavering solidarity with Iran.
Later in the day, Information Minister Attaullah Tarar told the assembly Pakistan had presented a “robust position” at the United Nations Security Council a day earlier, where it denounced the Israeli strikes.
He said Iran’s permanent representative at the world body had acknowledged and praised Pakistan’s support.
Tarar reiterated that under the UN Charter, Iran had the right to self-defense and emphasized that Pakistan had consistently condemned the suffering of Palestinians.
“The Palestinian cause is close to our hearts,” he said. “We have always raised our voice for our Palestinian brothers and sisters at every international forum.”
The Iranian foreign ministry announced earlier in the day it would no longer take part in planned nuclear talks with the United States in Oman, calling them “meaningless” while Israeli attacks continued.
“It is obvious that in such circumstances and until the Zionist regime’s aggression against the Iranian nation stops, it would be meaningless to participate in dialogue with a party that is the biggest supporter and accomplice of the aggressor,” an Iranian spokesperson said according to international wire agencies.
Israel’s defense minister also warned “Tehran will burn” if Iran continued to launch missiles at Israeli cities.
Iran had retaliated on Friday night by launching a barrage of missiles at Israel, with explosions lighting up the skies over Jerusalem and Tel Aviv.
A day earlier, Pakistan’s envoy to the UN, Ambassador Asim Iftikhar Ahmad, condemned Israel’s strike on Iran’s military and nuclear infrastructure, calling it a violation of international law.
“Iran has the right to self-defense under Article 51 of the UN Charter,” he said, urging all sides to avoid further escalation and emphasizing the need to resolve tensions through diplomacy.
We will recognize the State of Palestine soon, Macron tells Asharq News
- French president: ‘I have agreed with the Saudi crown prince to postpone the New York conference to a date in the near future’
PARIS: French President Emmanuel Macron pledged, in statements to Asharq News on the sidelines of a meeting with journalists and representatives of Palestinian and Israeli civil society institutions, that his country will recognize the State of Palestine at an upcoming conference that France will organize with Saudi Arabia in New York.
In response to a question about whether there are conditions for recognizing the Palestinian state, Macron said: “There are no conditions. Recognition will take place through a process that includes stopping the war on Gaza, restoring humanitarian access to the Gaza Strip, releasing Israeli hostages, and disarming Hamas.”
He stressed: “This is one package.”
Macron indicated that France and Saudi Arabia have agreed to postpone the UN conference they are co-organizing, which was originally scheduled to take place in New York next week. He noted that current developments have prevented Palestinian President Mahmoud Abbas from traveling to New York.
Macron explained that he had spoken several times with Crown Prince Mohammed bin Salman on Friday and Palestinian President Abbas, and it was agreed to “postpone the meeting to a date in the near future.”
He also claimed that the president of Indonesia, which currently does not officially recognize Israel, had pledged to do so if France recognizes the State of Palestine. Macron emphasized “the need for maintaining this dynamic.”
The International Conference for the Peaceful Settlement of the Question of Palestine, scheduled to be held in New York from June 17-20 and co-chaired by Saudi Arabia and France, outlined in its paper a commitment to the “two-state solution” as the foundational reference. The paper defines a timeline for implementation, outlines the practical obligations of all parties involved, and calls for the establishment of international mechanisms to ensure the continuity of the process.
Asharq News obtained a copy of the paper, which asserts that the implementation of the two-state solution must proceed regardless of local or regional developments. It ensures the full recognition of a Palestinian state as part of a political solution that upholds people’s rights and responds to their aspirations for peace and security.
The paper highlights that the Oct. 7, 2023, attacks and the war on Gaza have led to an unprecedented escalation in violence and casualties, resulting in the most severe humanitarian crisis to date, widespread destruction, and immense suffering for civilians on both sides, including detainees, their families, and residents of Gaza.
It further confirms that settlement activities pose a threat to the two-state solution, which it states is the only path to achieving a just, lasting, and comprehensive peace in the region. The paper notes that the settlement activities undermine regional and international peace, security, and prosperity.
According to the paper, the conference aims to alter the current course by building on national, regional, and international initiatives and adopting concrete measures to uphold international law. The conference will also focus on advancing a just, lasting, and comprehensive peace that ensures security for all the people of the region and fosters regional integration.
The conference reaffirms the international community’s unwavering commitment to a peaceful resolution of the Palestinian cause and the two-state solution, highlighting the urgent need to act in pursuit of these objectives.
Saudi FM receives German counterpart in Riyadh
- During the meeting, the officials reviewed relations between their countries and ways to strengthen and develop them in various fields
RIYADH: Saudi Foreign Minister Prince Faisal bin Farhan received his German counterpart Johann Wadephul in Riyadh on Saturday.
During the meeting, the officials reviewed relations between their countries and ways to strengthen and develop them in various fields.
They also discussed regional and international developments and their implications on the security and stability of the region.
Iranian media claims Israeli pilots captured, IDF denies
DUBAI: The Iranian army has claimed they have downed a third Israeli F-35 fighter jet since Israel’s attacks began on Friday.
State Iranian media, Tehran Times, reported that one pilot is believed to have been liquidated and another captured by Iranian forces.
However, the Israeli Defense Forces denied the claims dubbing the news “fake”.
“This news being spread by Iranian media is completely baseless” the IDF’s Arabic spokesperson Col. Avichay Adraee said.
Israeli Prime Minister Benjamin Netanyahu announced on Friday the launch of “Operation Rising Lion” against Iran in an effort to deter the Iranian threat of nuclear weapons to Israel. Netanyahu confirmed the operation will continue until the mission is accomplished.
