The Brugge oil tanker anchored off the Port of Long Beach in Long Beach, California, US, on Thursday, May 7, 2026. Tim Rue | Bloomberg | Getty Images U.S. oil prices jumped 5% Monday after President Donald Trump told CNBC he did not care if talks with Iran come to an end. West Texas Intermediate…
The oil market might face a new reality after the Iran war in which exports through the Strait of Hormuz do not return to the levels once considered normal, as shipowners now have to weigh the risk that fighting could abruptly break out in the volatile Persian Gulf. And Western commercial ships will likely hesitate…
Iran’s semi-official Fars news agency said Friday that the potential deal on the table with the U.S., which President Trump said he was preparing to make a “final determination” on imminently, was still “in the final stages of ratification in Iran and has not yet been decided.” The report questioned the president’s “claims about the…
In an aerial view, a Valero refinery is seen on May 5, 2026 in Corpus Christi, Texas. Brandon Bell | Getty Images Oil prices rose on Thursday after fresh U.S. strikes in Iran renewed concerns over disruptions to commercial shipping through the Strait of Hormuz. Brent crude futures, the international benchmark, were up around 3% to $97.16…
Japan’s Nikkei 225 breached 64,000 for the first time Monday as a sharp decline in oil prices lifted risk sentiment in holiday-thinned trading.
Tehran also signals progress on talks but says the key issue of nuclear weapons is not part of an initial framework it is working on.
Secretary of State Marco Rubio said Friday that it “would be lamentable” if a United Nations Security Council resolution on the Strait of Hormuz didn’t pass, adding: “Let’s see if the United Nations still works.” The draft resolution, tabled by Bahrain, calls on Iran to immediately stop its attacks and threats against vessels in the…
Iran publishes a map claiming “armed forces oversight” across more than 22,000 sq km of the waterway.
An aerial photograph shows the Greek-flagged crude oil tanker “Asahi Princess” off the coast of the Syrian Baniyas port refinery, along the Mediterranean Sea on on April 15, 2026. Bakr Alkasem | Afp | Getty Images Ahead of a meeting of finance ministers from the Group of Seven developed economies in Paris on Monday, a…
In an interview with Fox News’ Sean Hannity Thursday from Beijing, President Trump said that during their summit, Chinese President Xi Jinping assured him that China would not provide military equipment to Iran for its war in the Middle East. Asked by Hannity how big of a discussion the two leaders had regarding China’s support…
