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The Latest Breaking News from the Strait of Hormuz

Iranian drones send oil tanker up in flames in Strait of Hormuz

An oil tanker in the Strait of Hormuz dramatically burst into flames today (1 March) after being hit by an Iranian strike.

The Independent UK

EU foreign ministers vow to protect citizens but refuse to back regime change in Iran

EU foreign ministers warned of unpredictable economic consequences and called for the Strait of Hormuz to be kept open, however, fell short of supporting US aspirations for regime change in Iran.

Euronews

Strait of Hormuz: if the Iran conflict shuts world’s most important oil chokepoint, global economic chaos could follow

The reported sinking of several Iranian warships by US missiles in the Gulf of Oman serves as a reminder of the maritime aspect of the conflict which began February 28 with a barrage of Israeli and American missiles targeting Iran. Two other vessels, believed to be tankers, have also been…

The Conversation

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The U.S. is destroying Iran's navy after it tried to shut down global oil flows

A fifth of the world's oil flows through the Strait of Hormuz.

Axios

Oil prices soar 10% as tanker traffic halts near the Strait of Hormuz amid Iran attacks while IRGC warns against passage. 'Our ships will stay put'

Hundreds of tankers carrying oil and liquid natural gas have dropped anchor or remain stationary near the Strait of Hormuz.

Fortune

First oil tanker attacked in the Strait of Hormuz according to Oman

An oil tanker was attacked off the coast of Musandam in the Strait of Hormuz. Four people were injured and all 20 crew members were evacuated, according to Oman's Maritime Security Centre.

Euronews

Fuel price increase for customers ‘inevitable’ after US and Israeli strikes on Iran, warns AA

The US and Israel launched strikes against Iranian targets overnight, prompting retaliation by Tehran

The Independent UK

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Iran is now on 'death ground' amid existential threat from U.S. attacks and could 'go big' in retaliation, former NATO commander warns

Iran could close the Strait of Hormuz or conduct terrorist attacks against Americans in the region and elsewhere, said retired Admiral James Stavridis.

Fortune

‘No ship allowed’: Iran blocks Strait of Hormuz; US urges ships to avoid Gulf after US-Israel strike

Vessels transiting the Strait of Hormuz are reportedly receiving radio warnings, attributed to Iran's Revolutionary Guards, stating passage is prohibited. This critical oil route, vital for global energy supplies, faces heightened tensions following recent regional strikes. Iran has not officially confirmed issuing such an order, raising concerns for commercial shipping.

The Times of India

How Iran’s closure of Strait of Hormuz could upend global oil and gas supplies

Iran has effectively shut down the Strait of Hormuz in retaliation for the US-Israeli war. Given that a quarter of seaborne oil and a fifth of global LNG shipments pass through this critical maritime route, the move may prove catastrophic for major economies dependent on energy supplies from the Gulf.…

The Independent UK

Iran temporarily shuts parts of Strait of Hormuz — why it matters far beyond the Gulf

Iran has temporarily closed parts of the Strait of Hormuz, one of the world’s most critical energy chokepoints, as tensions with the United States escalate. Iranian state and semi-official media reported live-fire naval drills in the narrow waterway, with missiles launched from inside Iran and along its coast reportedly striking…

The Times of India

Iran, US agree on ‘guiding principles’ in nuclear talks; Tehran cautions ‘not an agreement’

Iran and the United States have found common ground on key principles during nuclear talks in Geneva. While progress is noted, a final agreement is not yet in sight. Negotiations are expected to continue. The discussions occurred amidst heightened tensions in the Gulf region. Military drills were conducted by Iran…

The Times of India

Tehran threatens US and closes Hormuz for drills amid nuclear talks

Iran has temporarily closed the Strait of Hormuz for live-fire drills on Tuesday as tensions with the US escalate, even as new nuclear talks in Geneva seek to avert open conflict.

Euronews

Iran temporarily closed the Strait of Hormuz as it held latest round of indirect talks with US

Iran announced the temporary closure of the Strait of Hormuz for live fire military drills as its negotiators held another round of indirect talks with the United States in Geneva over its disputed nuclear program

The Independent UK

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Barchart

Why Is Crude Oil Trending Higher?

NYMEX crude oil futures have moved steadily higher since the lows in mid-December, gaining more than $10 per barrel at their most recent high. Geopolitical risks in the Middle East have pushed the energy commodity higher, and higher highs could be on the horizon for seasonal reasons over the coming…

The Times of India

US Navy shoots down Iranian drone approaching its aircraft carrier in Arabian Sea

The shootdown came within hours of another confrontation in the region, during which Iranian forces harassed a US-flagged and US-crewed merchant vessel transiting the Strait of Hormuz, according to the US military. US Central Command said the Shahed-139 drone was downed by an F-35C fighter jet operating from the Abraham…

The Independent UK

What to know about the Strait of Hormuz as Iran plans military drill while tensions are high with US

Iran plans a military drill in the Strait of Hormuz, a crucial global shipping lane

Euronews

Iranian navy seizes 'foreign' oil tanker in the Strait of Hormuz

Authorities detained 16 foreign crew members but did not reveal their nationalities or the tanker's flag, Tehran-run state media reported.

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The Conversation

What is the Strait of Hormuz and why is it so important for global shipping?

During the recent conflict between Iran and Israel, Iran threatened to block the Strait of Hormuz, one of the world’s major shipping routes.

Euronews

Israel Iran conflict highlights Asia's dependence on Middle East oil

A blockade of the Strait of Hormuz could affect a number of Asian countries, making renewable energy capacity a crucial guard against volatility.

The Independent UK

Israel-Iran war highlights Asia's dependence on Middle East oil, and slow progress on clean energy

Asia’s dependence on Middle East oil and gas — and its slow shift to clean energy — leave it vulnerable to disruptions in shipments through the Strait of Hormuz

Euronews

How crucial is the strait of Hormuz to the global energy market?

Although Israel and Iran's ceasefire which came into force on Tuesday removed the pending threat of the Strait of Hormuz's closure, this is not the first time that Iran has said it would block it.

Al Jazeera

Fragile Iran-Israel ceasefire calms oil markets

Oil prices tumbled more after Iran struck US military base in Qatar, a sign Strait of Hormuz would stay open for now.

Fortune

Investors liked the peace but they love war even more, asset markets are saying today

Investors are unconcerned about major oil disruptions, reasoning that Iran is unlikely to close the Strait of Hormuz and harm its own economy.

Fortune

Ceasefire between Israel and Iran already being tested as markets bet it will stave off ‘stagflationary shock’

The rapidly unfolding events whipsawed world markets that briefly appeared to have avoided an oil shock and the uncertainty of a wider Middle East conflict.

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