The Latest Breaking News from Strait of Hormuz

Another Tanker Was Struck In The Strait Of Hormuz. Oil Is Edging Up.

The U.K. Maritime Trade Operations agency detailed that the strike took place near the Omani coast.

International Business Times · Aug 27

Iran, Qatar hold Hormuz talks as US blockade squeezes Iran oil exports

Officials from Iran and Qatar met on Thursday in Tehran for diplomatic talks on the strategic Strait of Hormuz, as a US naval blockade chokes oil supplies to Iran amid a domestic shortfall. The meetings follow a week of intense diplomacy in Iran involving separate meetings with officials from Oman…

France 24 · Aug 27

BPCL explores buying Gulf oil on FOB basis, lifts Iraqi oil

Bharat Petroleum Corp expects its first Iraqi oil cargo soon and seeks more Gulf oil. The company is willing to lift oil from inside the Strait of Hormuz. New US legislation could impact India's major Russian oil and gas purchases. Russia currently supplies a significant portion of India's oil needs.…

The Economic Times · Aug 27

Oil Price Today (August 27): Crude oil dips to $87, down for 4th session amid Hormuz reopening hopes. What are experts saying?

Oil prices slipped on Thursday, extending their losing streak, as hopes of a Strait of Hormuz reopening grew amid diplomatic efforts involving Iran and Oman. Brent crude fell 0.7% to $87.24 a barrel, while WTI declined 0.7% to $81.67. Markets are watching developments around the key oil transit route; a…

The Economic Times · Aug 27

Qatar PM to visit Tehran to pursue mediation efforts

Qatar’s prime minister is visiting Tehran to revive diplomacy between Iran and the United States as sanctions intensify and negotiations over the Strait of Hormuz remain unresolved. The waterway’s oil traffic has sharply declined, while Iran and Oman dispute control, revenues and navigation rules amid lingering tensions and maritime incidents.

The Economic Times · Aug 27

Oil prices extend losses on expectations talks to ease Middle East supply woes

Oil prices have declined as discussions between Iran and Qatar may pave the way for reopening the crucial Strait of Hormuz. This reopening could alleviate supply issues arising from the ongoing conflict in the Middle East. Currently, Iran and Oman are working on arrangements for overseeing this vital shipping route.…

The Economic Times · Aug 27

Iran warns of military ship ban in Hormuz under potential deal with Oman

Iran and Oman are negotiating arrangements to manage commercial shipping through the Strait of Hormuz, excluding military vessels, as Qatar seeks to de-escalate tensions. The Middle East remains volatile: Israeli strikes challenge Gaza’s ceasefire, Israel demands Hamas disarmament, West Bank settlements expand, sanctions intensify, and the Iran war disrupts air…

The Economic Times · Aug 27

Qatar PM to visit Tehran as Iran-US tensions persist over Hormuz Strait and sanctions

The latest visit comes as the conflict approaches its sixth month. Although major fighting has largely stopped, the two sides have yet to make progress towards a lasting diplomatic settlement. One of the biggest unresolved issues is the Strait of Hormuz, the narrow waterway between Iran and Oman through which…

The Times of India · Aug 26

Navigation, jurisdiction, costs: Iran, Oman attempt to hammer out Hormuz deal

Iran and Oman are holding talks to try to reach an interim agreement for a controlled resumption of navigation in the Strait of Hormuz. The two countries have discussed a framework for a “temporary corridor” for shipping, according to a joint statement by the Iranian and Omani foreign ministries. But…

France 24 · Aug 26

Crude Oil Prices Slip on Hopes Strait of Hormuz to Reopen

October WTI crude oil (CLV26 ) closed down -0.13 (-0.16%) on Wednesday, and October RBOB gasoline (RBV26 ) closed up +0.0309 (+1.05%). Crude oil and gasoline prices settled mixed on Wednesday, with crude oil falling to a 1.5-week low. Crude prices fell slightly on Wednesday, adding to this week’s losses,...

Barchart · Aug 26