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The Latest Breaking News from the Strait of Hormuz

Oil edges lower amid resumption of strait shipments even as vessel hit near Oman

Oil prices are poised for significant weekly declines as supply worries ease with tankers navigating the Strait of Hormuz. Despite a cargo vessel being struck near Oman, with Iran implicated, and earthquakes in Venezuela causing minor infrastructure damage, crude shipments through the vital waterway have increased. However, lingering geopolitical tensions…

The Economic Times

US wants Iran deal but 'not at any price', Rubio says

US Secretary of State Marco Rubio said on Thursday Washington would not accept any Iran deal allowing Tehran to impose fees on shipping through the Strait of Hormuz, warning it would cause "total chaos". His remarks came after an attack on a vessel forced the United Nations to suspend mariner…

France 24

Why are oil prices up today, and will Brent, US WTI crude futures continue to rise or fall again? Cargo ship attack near Oman lifts crude prices

Why are oil prices up today, and will Brent, US WTI crude futures continue to rise or fall again? Oil prices gained more than 2% after a cargo ship was struck near Oman, raising concerns over crude shipments through the Strait of Hormuz. Brent and US WTI crude futures moved…

The Economic Times

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Iran Reportedly Estimates It Could Get $40 Billion a Year From Management Of Hormuz Strait

Iran estimates it could make $40 billion a year from managing shipping through the Strait of Hormuz, according to a new report.

International Business Times

U.S. companies swallowed the oil shock. They're not sure they can do it again

A Fed survey of 530 executives found inflation now tops concerns for 25% of firms—nearly triple last quarter's 9.5%—even as most have held the line on consumer prices.

Fortune

Iran fired on cargo ship in Strait of Hormuz, say US officials

Iran fired on a cargo ship transiting the Strait of Hormuz on Thursday, according to two US officials cited by Reuters. The vessel had earlier reported being struck by a projectile near Oman's coast. The incident raises fresh concerns over maritime security and shipping traffic through the strategically vital waterway.

The Economic Times

US says wants deal with Iran, but not 'at any price'

MANAMA - Top US diplomat Marco Rubio said Thursday that there were limits to what Washington would accept in any deal with Iran, warning that permitting Tehran to charge fees in the Strait of Hormuz would open the door to "total chaos".

Bangkok Post

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British military says a cargo ship was hit while moving through the Strait of Hormuz

In a worrying development, a cargo ship on a UN-supported journey through the Strait of Hormuz was hit by a projectile, raising alarms as Iran warned of the need for its consent for passage. Despite this incident, multiple tankers successfully navigated the critical waterway. U.S. Secretary of State Marco Rubio…

The Economic Times

IMF says it will take time for energy, commodity prices to normalize after US-Iran deal

The IMF notes a decline in energy and commodity prices following a ceasefire in the Strait of Hormuz, though full normalization will take time. While inflationary expectations remain anchored, the Fund is particularly concerned about developing nations, especially in Africa, that are net energy importers. India's domestic demand is robust,…

The Economic Times

Fear of mines alone could disrupt Strait of Hormuz shipping, warns French admiral

The Strait of Hormuz has reopened under a fragile United States-Iran deal, but it remains under close watch after maritime authorities warned of suspected and confirmed mines in the area. Former French Navy Admiral Éric Lavault – who headed France's mine warfare and seabed operations, and commanded the navy's bomb-disposal…

Radio France Internationale

Rubio warns Hormuz tolls would 'spread like contagion' to other waterways

US Secretary of State Marco Rubio warned that imposing tolls on ships in the Strait of Hormuz would lead to "total chaos," a stance reiterated by Oman which stated no fees would be levied. Iran, however, insisted on its authorization for passage and appeared to criticize Oman's new shipping route.…

The Economic Times

Iran seeks long-term role in managing Strait of Hormuz, eyes billions in annual fees

Iran is proposing new charges for security and services in the Strait of Hormuz, aiming to generate significant revenue and reshape its management post-conflict. Tehran is seeking regional backing, drawing parallels to Turkey's Dardanelles model. However, the US vehemently opposes this, asserting no nation can charge for international waterways. While…

The Economic Times

Strait of Hormuz traffic sees sharp uptick but not back to normal

Strait of Hormuz traffic has increased sharply, but remains at roughly half its peacetime level, officials said on Thursday as stranded sailors made their way out of the waterway. Tehran warned on Thursday against any crossings of the Strait of Hormuz without its authorisation, saying vessels not complying "will be…

The Economic Times

Iran Threatens Ships Seeking To Cross Hormuz Strait Without Its Approval: 'Dangerous'

The Iranian revolutionary guard threatened ships seeking to transit through the Strait of Hormuz without coordination with its officials.

International Business Times

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The Economic Times

Crude shipments through Hormuz at highest since war amid concerns over Iran exit demands

Crude shipments through the Strait of Hormuz have surged following a ceasefire deal, reaching their highest levels since the conflict began. While demand, particularly in Asia, is driving this increase, overall traffic remains a fraction of pre-war levels. Concerns persist about the waterway's long-term stability, even as a UN evacuation…

The Economic Times

Oil falls to pre-war levels on rising Middle East supply

Oil prices have dropped to pre-Iran war levels as increased Middle Eastern supply overshadows demand worries. Flows through the Strait of Hormuz are nearing normalcy, boosting confidence despite ongoing demining efforts. Meanwhile, Iraq is contemplating leaving OPEC due to quota concerns, and Ukraine has targeted Russian oil facilities. These developments…

International Business Times

Energy Secretary Chris Wright Says U.S. Military Escorts Prevent Iran From Closing Hormuz Strait

Energy Secretary Chris Wright said Iran no longer has the ability to close the Strait of Hormuz.

The Economic Times

Reopening of Strait of Hormuz to lower tail risk, but supply normalisation to be costly: S&P

S&P Global Ratings suggests reopening the Strait of Hormuz eases immediate risks for Asia Pacific, but expects uneven and costly supply normalisation. While a US-Iran MoU is constructive, unresolved issues persist. Delays in pre-conflict flows could keep energy and input costs elevated, impacting sectors like petrochemicals and agriculture, with South…

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The Independent UK

Stoic Warrior oil tanker navigates the Strait of Hormuz despite Iran threats

The Stoic Warrior took off early Thursday morning on a trip that saw it hug the coast of the United Arab Emirates and then Oman

Euronews

EU countries are bailing out fossil fuels instead of funding the green transition, Greenpeace warns

Spain leads EU energy crisis spending, but Greenpeace says blanket fuel subsidies are propping up fossil fuels at the planet's expense.

The Economic Times

Crude oil prices crash 42% from April’s $126 peak. More downside coming?

Global oil markets are stabilizing after months of turmoil caused by the Strait of Hormuz closure and war damage. Crude prices have plummeted 42% from their April peak, with Brent falling below $73 a barrel, signaling a return to pre-conflict levels

International Business Times UK

Trump Draws Red Line: No Final Iran Agreement If Tehran Charges Shipping Fees

President Trump firmly opposes Iran's proposal to charge shipping fees in the Strait of Hormuz, emphasising free passage as a critical condition in ongoing negotiations

The Independent UK

Iran-US war latest: Tehran strikes ship in Strait of Hormuz as countries try to reopen oil route

The recent strike poses a threat to efforts to reopen the Strait

The Economic Times

IRGC Navy rejects new Strait of Hormuz route, warns of enforcement measures: Iranian Media

Iran's Revolutionary Guard Navy has issued a stern warning to vessels transiting the Strait of Hormuz, insisting on the use of only Iran-approved routes. This declaration follows Oman's announcement of a new, temporary maritime corridor in coordination with the International Maritime Organization. The IRGC stated that any passage outside designated…

Euronews

Hormuz confusion deepens as Iran and US clash over who controls it

Trump said Tehran had promised no tolls or charges in the strait, hours after Iran and Oman announced a joint permit system asserting their authority over the waterway. Rubio flew to Abu Dhabi to reassure Gulf allies, as analysts warned control over Hormuz would be a major strategic victory for…

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