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The Latest Breaking News from the Strait of Hormuz

Trump promised US Navy protection for ships in Strait of Hormuz, but Iran is blowing up vessels and the Navy is nowhere to be found

Operation Epic Blunder continues.

We Got This Covered

What it will mean for the economy if the Strait of Hormuz stays closed

If the military situation doesn't change soon, it will create a stagflationary drag on the U.S. economy.

Axios

Could oil prices really reach $200 a barrel as claimed by Iran?

As the Iran war approaches the two-week mark, energy markets are bracing for a potential "super shock". The IRGC has repeatedly threatened to push oil prices up to $200 per barrel, leveraging its control over the Strait of Hormuz, but how realistic is this scenario?

Euronews

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Coffee Prices Climb as Iran War Raises Global Supply Concerns

May arabica coffee (KCK26 ) today is up by +6.75 (+2.35%), and May ICE robusta coffee (RMK26 ) is up by +82 (+2.31%). Coffee prices are climbing today due to the Iran war, which has closed the Strait of Hormuz and disrupted global shipping. Iran’s Supreme Leader Ayatollah Mojtaba Khamenei...

Barchart

Crude Oil Surges as Iran War Drags On

April WTI crude oil (CLJ26 ) today is up +8.84 (+10.13%), and April RBOB gasoline (RBJ26 ) is up +0.1341 (+4.81%). Energy prices are sharply higher today on comments from Iran's Supreme Leader Ayatollah Mojtaba Khamenei, who said that Iran's leverage of closing the Strait of Hormuz should be used...

Barchart

Keir Starmer ‘working to de-escalate the war’ as Iran vows to avenge its dead

Ayatollah Mojtaba Khamenei has also threatened to continue blocking the Strait of Hormuz, driving up oil prices.

Evening Standard

Iran's new supreme leader vows to keep blocking Strait of Hormuz and avenge 'martyrs' in defiant message for Trump

In his first statement as leader, Mojtaba Khamenei said Iran should still use the ‘lever of blocking the Strait of Hormuz’

Evening Standard

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Trump Goes to War

Plus: Donald Trump vs. Thomas Massie, Republicans preparing to kill the filibuster for a very dumb reason, explosions in the Strait of Hormuz, and more...

Reason

‘Nothing to be afraid of!’ Donald Trump told ships to ‘show some guts’ in Strait of Hormuz, here’s what happened next

Oopsie!

We Got This Covered

Global Loss and Damage Fund Offers Hope as Africa Faces Rising Climate Costs {Business Africa}

Africa is waiting for real financing from the global Loss and Damage Fund designed to help countries cope with climate-related destruction. From the Strait of Hormuz to African markets: Rising geopolitical tensions are pushing up global oil prices—driving higher fuel and food costs in Africa

Euronews

'We'll make a lot of money,' says Trump as oil price jumps leaving millions facing higher energy, petrol and food bills

‘The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,’ says the US president

Evening Standard

'We are simply not ready': US says its military cannot escort vessels in Strait of Hormuz right now

America's military is currently unable to escort oil tankers through the Strait of Hormuz. Energy Secretary Chris Wright stated that military assets are focused on Iran's offensive capabilities. Escort operations are expected soon, possibly by month's end. US forces have eliminated Iranian vessels suspected of laying mines near the strait.

The Times of India

Ships declare themselves Chinese in the Strait of Hormuz to avoid attacks

At least 19 commercial ships around the region had been damaged in the war as of Thursday

The Independent UK

IEA Releases 400 Million Barrels from Reserves to Ease Energy Prices

The International Energy Agency released 400 million barrels of oil from reserves to stabilize global energy markets disrupted by the Strait of Hormuz crisis.

International Business Times

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Newslaundry

Iran gives safe passage to India through Strait of Hormuz? ‘Sources’ jump the gun again

Here we are again. Another day, another cycle of ‘sources’ making the fog of war foggier. This time, the chatter centres on claims that Iran will grant safe passage to India-flagged tankers through the Strait of Hormuz.

Fortune

Oil went over $100 again after the U.S. admitted it cannot control the Strait of Hormuz

Oil is trading like a meme stock, some analysts say.

MyLifeXP

Why Petrol Prices Haven’t Risen Despite $100 Oil

Fuel prices influence nearly every part of daily life. From daily commuting to the cost of groceries and transportation, even a small change at the petrol pump can affect the entire economy. Recently, global oil markets witnessed a dramatic shift as crude oil prices surged close to $100 per barrel,…

Axios

Trump's limited gas-price options on Iran

Nothing will approach normal until large-scale tanker traffic through the Strait of Hormuz resumes.

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Whats Hot

Iran Allows Indian-Flagged Ships Safe Passage Through Strait of Hormuz

Iran has allowed Indian-flagged vessels to safely transit the strategically crucial Strait of Hormuz, even as maritime activity through the waterway has slowed significantly following recent United States and Israeli strikes on Iran. The development was reported by The Economic Times and comes amid rising concerns over the safety of…

The Independent UK

Oil prices soar again after two tankers struck off coast of Iraq

Oil prices have surged past $100 a barrel following suspected Iranian attacks on multiple fuel tankers in Iraqi waters. Iraqi oil ports have completely ceased operations, prompting other countries to move their vessels from the area as a precaution. Iran has claimed responsibility for hitting a Thai bulk carrier yesterday,…

The Independent UK

Iran-US war latest: Trump says strikes have ‘obliterated’ military targets on vital oil hub island

Kharg Island is the linchpin of Tehran’s oil industry

The Times of India

Watch: Video shows huge blaze after blasts hit oil tankers off Iraq’s Basra coast

A deadly explosion rocked two oil tankers in the Persian Gulf off Iraq's Basra coast, with officials suspecting an attack by Iranian boats. The blasts ignited massive fires, forcing the evacuation of 38 foreign crew members. This incident escalates regional tensions and threatens vital global oil supply routes, particularly the…

Axios

Calls grow for Strait of Hormuz ship escorts as Iran escalates attacks

There are about 20,000 seafarers currently working on ships in the Persian Gulf, expert notes.

Evening Standard

Starmer warns against profiteering as Trump vows to ‘finish the job’ in Iran

Threats from Tehran have choked shipping through the Strait of Hormuz, a vital artery for global oil and gas supplies.

Pedestrian.tv

Australian Petrol Prices Set To Skyrocket After Strikes In Strait Of Hormuz

Australians are being warned to brace for higher petrol prices as attacks on ships in the Strait of Hormuz choke global oil supplies.

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