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The Latest Breaking News from the Strait of Hormuz

June: 10 mbpd, May: 3 mbpd: Gulf oil exports up, but 40% below pre-war level

Gulf oil exports surged past 10 million barrels daily in June, a significant jump from May, thanks to US military efforts securing the Strait of Hormuz. The UAE spearheaded this recovery, enabling millions of barrels to reach global markets and helping to stabilize oil prices. Despite this rebound, exports remain…

The Economic Times

Brent Crude Could Sink to $60 a Barrel by Year-End Despite 'Temporary Flare-Ups' Between US and Iran, Citi Analysts Say

Analysts from Citi predict a significant drop in Brent crude prices to $60 a barrel by year-end, banking on the U.S.-Iran truce to hold.

Benzinga

Citi sees brent crude sliding to $60/bbl as supply fears ease

Geopolitical tensions easing around the Strait of Hormuz are expected to drive Brent crude prices down to $60 a barrel by year-end, according to Citi. Global energy markets are normalizing, with shipping resuming and Gulf producers increasing output. Despite this, Chinese buyers remain absent, and inventories are lower than anticipated,…

The Economic Times

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UK service sector shrinks amid Iran war disruption and heatwave; FTSE 100 hits four-month closing high – business live

Rolling coverage of the latest economic and financial news

The Guardian - UK

Oil Price Today (July 3): Crude oil heads for 4th weekly loss on Hormuz traffic, US-Iran talks. Where is liquid gold headed?

Brent crude hovered near the $71-a-barrel mark after briefly dipping below that level in the previous session, while US benchmark West Texas Intermediate (WTI) traded around $68 a barrel.

The Economic Times

We blew up Iran's radar: Trump says US carried out strikes on Iran for 3 consecutive days

US President Donald Trump revealed American forces conducted strikes on Iran for three consecutive nights, targeting radar systems in response to attacks on commercial shipping. He asserted the US Navy's blockade effectively prevented any ships from reaching Iran, severely weakening its economy. Trump also detailed how the US quietly escorted…

The Economic Times

U.S., Iran Pause Peace Talks Until Mid-July as Hormuz, Lebanon Disputes Stall Progress

The United States and Iran have suspended indirect peace negotiations until mid-July after a new round of talks in Doha ended without a breakthrough on some of the most contentious issues left unresolved by the recent conflict, including the future of the Strait of Hormuz and Iran's role in Lebanon.

Latin Times

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Iran renews Hormuz threats as Doha talks end with cautious progress

Tehran threatened a "forceful response" against vessels straying from its approved Hormuz routes, even as mediators said indirect US-Iran talks in Doha concluded with "positive progress". The next round of talks will wait until after Ayatollah Ali Khamenei's funeral, which begins on Saturday.

Euronews

Trump’s Iran gamble is descending into chaos

IN FULL

The Independent UK

U.S. Reportedly Trying To Convince Iran Not To Continue With One Of Its Main Goals After The War

The U.S. is reportedly trying to convince Iran to refrain from charging tolls for passage through the Strait of Hormuz.

International Business Times

Trump Faces Fresh Iran Challenge as Tehran Says Strait of Hormuz Is Under 'Iranian Command'

Iran’s Deputy Foreign Minister for Legal and International Affairs, Kazem Gharibabadi, said on Thursday that the Strait of Hormuz is under Tehran’s command following a U.S. Central Command (CENTCOM) security summit in Bahrain.

Benzinga

FACT FOCUS: Iran claims a foreign ship got stuck in Strait of Hormuz. But it is tied to Tehran

Iranian state television claimed this week that a foreign ship got stuck in the Strait of Hormuz after ignoring instructions to use a route laid out by the Islamic Republic’s paramilitary Revolutionary Guard

The Independent UK

Iran warns oil tankers to use approved routes in Strait of Hormuz or face a ‘forceful response’

Iranian deputy foreign minister has asserted that Strait of Hormuz is ‘under Iran's command’

The Independent UK

Iran-US war latest: Tehran warns Trump and Israel not to attack during Ayatollah Khamenei funeral

Iran said any attacks would be met with a ‘harsh retaliation’

The Independent UK

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The Economic Times

Iran rejects US-led Gulf security summit, says Hormuz is under its command

Iran has sharply criticized a US-led security summit in Bahrain, asserting that the Strait of Hormuz falls under Tehran's command, not American authority. Deputy Foreign Minister Kazem Gharibabadi dismissed the summit's legitimacy, stating that regional security must be managed by neighboring states without foreign military intervention. The meeting, attended by…

The Economic Times

Oil Price Today (July 2): Crude oil at $70, falls for 2nd session as US-Iran talks progress. Worst over?

Brent crude futures fell 80 cents, or 1.09%, to $70.80 a barrel, while U.S. West Texas Intermediate crude declined 90 cents, or 1.28%, to $67.75 a barrel. In the previous session, both benchmarks had dropped more than 1%, settling at their lowest levels in four months.

The Economic Times

US-Iran talks end without breakthrough as Tehran's nuclear prowess stays off the table

Indirect talks between Iran and the US concluded without significant progress on lasting peace, focusing instead on resolved issues like maritime traffic in the Strait of Hormuz and unfreezing funds. While President Trump expressed optimism about nuclear program discussions, sources indicated this topic wasn't addressed. The next meeting is scheduled…

Bangkok Post

Trade group: Jet fuel prices likely to remain elevated

Despite optimism around the US-Iran ceasefire and the reopening of the Strait of Hormuz, it will take time for jet fuel prices to return to pre-crisis levels and airfares could remain high for longer than passengers expect, says the International Air Transport Association (IATA).

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The Economic Times

'Iran's nuclear rights are non-negotiable': Iran's Parliament Speaker Ghalibaf says key commitments under MoU need to be fulfilled

Iran's Parliament Speaker Mohammad Bagher Ghalibaf declared that the nation's nuclear rights are non-negotiable and will not proceed with further talks until key commitments from a US memorandum are met. These include ending the war in Lebanon and ensuring passage through the Strait of Hormuz. Ghalibaf emphasized Iran's adherence to…

The Times of India

US-Iran ceasefire tailored for US mid-terms, not lasting peace: Report

The ceasefire between the US and Iran has eased fears of a wider conflict and led to the reopening of the Strait of Hormuz, pushing oil prices lower. However, the truce may be tactical rather than permanent, according to analyst cited by Reuters. The underlying disputes, over Iran's nuclear program,…

France 24

Why is France betting on Oman amid the Hormuz crisis?

After months of crisis in the Middle East, France is looking to build its influence in the region by strengthening relations with Oman – a small country long seen as a quiet, neutral regional player. On his first state visit to France, Sultan Haitham bin Tariq and French President Emmanuel…

The Economic Times

Market Trading Guide: TBO Tek among 2 stock recommendations for Thursday

Domestic equities ended higher, supported by positive Asian cues and a sharp drop in crude prices following improved traffic at the Strait of Hormuz, alongside growing expectations of an imminent India–US trade deal.

International Business Times UK

How Trump is Allegedly Weaponising Iran Ceasefire to Manipulate Global Oil Markets

Donald Trump is considering whether to continue negotiations with Iran or resume military strikes, amid tensions in the Strait of Hormuz affecting global oil supplies.

The Economic Times

Why are oil prices down today, and will Brent futures and US WTI crude prices continue to fall or rise again? Iran-US talks, Strait of Hormuz recovery and US inventory data keep crude market under focus

Oil prices declined as investors watched Iran-US talks, the recovery of shipping through the Strait of Hormuz, and upcoming US inventory data. Brent futures and US WTI crude remained under pressure after recent gains faded. Analysts say supply expectations, inventory trends, and geopolitical developments will decide the next direction of…

The Times of India

'Neither side thinks they've lost': Iran determined to keep Hormuz control, even by force

Iran is determined to secure international recognition of its control over the Strait of Hormuz and the right to charge ships for passage, even if it has to use force to achieve it, two senior Iranian sources said, as reported by Reuters.

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