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…
The US president met his advisers, after officials confirmed the US and Iran had agreed a framework of a deal.
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…
Iran’s decision to act on its long-promised threat to close the Strait of Hormuz has brought United States countermeasures in the form of a US naval blockade. Despite doubts over the legality, feasibility and efficacy of Iran’s initial move and flip-flops about the continuation of the closure, the immediate global impact, surging oil prices and…
The United States Treasury Department announced sanctions Wednesday on Iran’s Persian Gulf Strait Authority, the new Tehran agency that collects fees for traveling through the strategic Strait of Hormuz. “The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash,” Treasury Secretary Scott Bessent…
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…
U.S. President Donald Trump arrives to the commencement ceremony on Cadet Memorial Field at the United States Coast Guard Academy on May 20, 2026 in New London, Connecticut. Chip Somodevilla | Getty Images News | Getty Images Hello, this is Dylan Butts writing to you from Singapore. Welcome to today’s edition of the Daily Open…
An Iranian flag flutters in the wind as ships remain anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran. Majid Saeedi | Getty Images News | Getty Images LONDON — European stocks are expected to open in mixed territory on Wednesday as regional investors assess the latest military operations against…
4m ago Iran executes man over alleged cooperation with Israeli spy agency Iranian authorities on Tuesday executed a man after convicting him of cooperation with and espionage for Israel’s Mossad spy agency, the judiciary said. “Gholamreza Khani Shakarab was executed on charges of intelligence cooperation and espionage in favour of the Zionist regime,” the…
Asked again later about Monday’s strikes, Rubio said: “The straits have to be open. They’re going to be open one way or the other, so they need to be open. What’s happening there is unlawful, it’s illegal, it’s unsustainable for the world, it’s unacceptable.”
