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The Latest Breaking News from Hormuz

Suez Canal sees oil tanker surge amid Strait of Hormuz disruption

Egypt's Suez Canal saw a significant rise in oil tanker traffic and revenue in April. This surge is linked to the closure of the Strait of Hormuz, forcing ships to use the Red Sea route. Broader vessel traffic also increased. This unexpected boost benefits Egypt's foreign exchange earnings, though overall…

The Economic Times

Why crude oil is falling fast today: Oil prices crash below $88 as US-Iran peace deal hopes send Brent crude, WTI oil and energy markets lower

Oil prices crashed below $88 after reports said a US-Iran draft agreement gained preliminary acceptance in Washington. Brent crude fell near $91, while WTI crude dropped below $88. Markets are now pricing peace instead of conflict. The shift shows how geopolitical risk, the Strait of Hormuz, and global energy supply…

The Economic Times

Shipping Ministry confirms attack on vessel carrying 24 Indian seafarers south of the Strait of Hormuz

A fire erupted on the oil tanker MT Marivex, located south of the Strait of Hormuz, with all 24 Indian seafarers aboard reported safe. India's Ministry of Ports, Shipping and Waterways is actively coordinating with other government bodies and Indian embassies overseas. The tanker was reportedly empty at the time,…

The Economic Times

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The Strait of Hormuz is more open than previously thought as the U.S. shoots down Iranian drones threatening ships and provides 'naval overwatch'

"The attack drones posed an immediate threat to regional maritime traffic," U.S. Central Command said.

Fortune

Aviation industry looks skywards as leaders fly in for Rio summit

Oil tankers may be stuck behind strait of Hormuz, but holding the Iata AGM in Brazil defies warnings of impending shortages

The Guardian - UK

More oil escapes Hormuz, keeping traders guessing

Iran war: Tankers are using stealth to exit the Strait of Hormuz, freeing oil trapped in the Gulf. The practice of ships going dark is widespread. This makes it harder to gauge market flows. Oil on water in the Gulf has dropped. This shows outflows are inching higher. The market…

The Economic Times

Oman resists US pressure to break ties with Iran over strait of Hormuz

Sultanate says talks with Tehran are limited to lawful management of waterway, but Washington has doubts about neutrality

The Guardian - UK

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'Brace for New Shocks in June' as World Oil Supplies Near a Point of No Return, Analysts Warn

Global oil reserves are depleting rapidly due to the Iran war, with experts warning of severe economic impacts if the Strait of Hormuz remains closed.

International Business Times UK

The week that was in international affairs: US-Iran deal hangs on nukes, Hormuz; Russia tests NATO

Welcome back to another edition of My Take 5, your weekly round-up of top international news. In this edition we are covering the US-Iran search for a deal to end their war, the Russian drone attack in Romania, growing India-Cyprus strategic ties, Armenia’s upcoming parliamentary elections, and Morocco emerging as…

The Times of India

Iran Vows to Fully Seal the Strait of Hormuz as US Talks Collapse and Oil Surges 7%

Iran has suspended indirect talks with the US and threatened to close the Strait of Hormuz, causing a significant spike in global oil prices.

International Business Times UK

US and Iran exchange fire as peace deal remains in limbo

Washington struck radar and drone sites in Iran over the weekend after Tehran downed a US drone, as Kuwait intercepted Iranian missiles and Trump said a deal "will all work out well in the end".

Euronews

Trump seeks fresh changes to Iran deal; draft includes Hormuz reopening, nuclear curbs: Report

President Donald Trump wants more changes to a proposed Iran deal. The agreement aims for a ceasefire and nuclear talks. It also includes opening the Strait of Hormuz. Iran insists on guarantees for its rights. Pakistan is mediating. The US warns of renewed conflict if terms are not met. Negotiations…

The Economic Times

Oil prices rise more than 2% as Israel steps up incursion into Lebanon

Oil prices surged over 2% as intensified fighting between Israel and Hezbollah in Lebanon overshadowed hopes for a ceasefire extension with Iran. Stepped-up conflict, despite a prior truce, dimmed expectations for a deal, while concerns over mines in the Strait of Hormuz further tightened supply outlooks.

The Economic Times

US says it disabled another commercial ship trying to breach blockade and reach Iran

US forces have intercepted another ship trying to bypass their blockade of Iranian ports. The Gambia-flagged vessel, Lian Star, ignored warnings and was disabled by US aircraft. This marks the sixth such interception, with one ship previously allowed to pass. The blockade, initiated in response to Iran closing the Strait…

The Economic Times

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The Guardian - UK

Trump claims to be on verge of peace deal but Iran signals no agreement reached

US president did not announce decision on deal that could open strait of Hormuz after two-hour situation room meet

The Economic Times

How far have the U.S. and Iran got towards ending the Iran war?

America and Iran have agreed to extend a ceasefire. Shipping through the Strait of Hormuz will resume. Some American sanctions on Iran will be lifted. This is a major step towards ending a war. Talks will continue on Iran's nuclear program and other issues. The deal is not yet finalized.

The Economic Times

Oil Price Today (May 29): Crude oil falls as peace deal hopes offset constant tensions. What are experts saying?

Oil prices saw a slight dip on Friday. Hopes for a U.S. and Iran ceasefire extension are influencing the market. U.S. Vice President JD Vance indicated progress but noted unresolved issues. Geopolitical tensions remain high. Analysts suggest a prolonged Strait of Hormuz closure could impact global oil markets significantly.

The Economic Times

US, Iran accuse each other of violating truce after attacks

The US and Iran accused each other of breaching a fragile ceasefire after fresh clashes around the Strait of Hormuz, marking the worst flare-up since the truce began in April. Iran said it fired at unauthorised ships and targeted a US-linked airbase after strikes near Bandar Abbas, while US forces…

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The Guardian - UK

First Thing: Trump threatens to ‘blow up’ US ally Oman if it does not ‘behave’ over strait of Hormuz

President makes comments after reports Iran and Oman have discussed jointly charging a toll for ships. Plus, how ‘balcony solar’ could help fight rising energy costs

The Guardian - UK

JD Vance says US ‘not there yet’ on an Iran deal – as it happened

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The Guardian - AU

US and Iran exchange strikes as Israel intensifies attacks on southern Lebanon

US forces down drones near strait of Hormuz, sparking attack on American airbase in Kuwait

The Economic Times

Iran targets US airbase after Washington’s strikes near Hormuz, warns ‘aggressor’ of harsher response

Iran's Revolutionary Guards announced they struck a U.S. airbase early Thursday, claiming it followed a U.S. attack near Bandar Abbas. The Guards issued a stern warning, vowing a more forceful response to any future "aggression" and holding the "aggressor" accountable for repercussions. The specific base targeted was not disclosed.

The Economic Times

Oil Price Today (May 28): Crude oil surges nearly 3% after Iran says it targeted US airbase in retaliation for fresh American strikes

Oil prices surged as US strikes in Iran heightened fears of shipping disruptions through the Strait of Hormuz. Iran's Revolutionary Guards claimed to have struck a US airbase, while US forces downed Iranian drones and struck a control station. Analysts warn that even a deal may not immediately normalize shipping,…

International Business Times

The Slow-Motion Oil Crisis Nobody Sees Coming

Oil markets can absorb a shock for a while. The real test comes weeks later, when pre-crisis cargoes stop arriving, and BGN Group's flexible supply chains become essential.

The Independent UK

The 75-year-old military deadlock which Trump must learn from in his war with Iran

IN DEPTH: As the latest US strikes claim to target Iranian boats laying mines in the Strait of Hormuz, John W S Clark asks why no one is heeding the lessons of the past: that mine warfare will bring any ill-conceived conflict to a shuddering standstill

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