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The Latest Breaking News from the Strait of Hormuz

Crude Oil Prices Sink on Hopes for US-Iran Diplomacy

September WTI crude oil (CLU26 ) on Monday closed down -6.70 (-7.50%), and September RBOB gasoline (RBU26 ) closed down -0.0820 (-2.52%). Crude oil and gasoline prices sank on Monday, with gasoline falling to a 1-week low. The easing of tensions in the Middle East weighed on energy prices Monday...

Barchart

The Houthis Said They Keep Hitting Saudi Oil Infrastructure. That Could Spell More Trouble For Global Supply

The Iran-backed Houthis claimed to have struck crude oil supply and transport sites that connect eastern Saudi Arabia to the Red Sea.

International Business Times

Crude Oil Prices Plunge as Supply Threats Ease

September WTI crude oil (CLU26 ) today is down -6.06 (-6.79%), and September RBOB gasoline (RBU26 ) is down -0.0679 (-2.10%). Crude oil and gasoline prices are sinking today, with gasoline falling to a 1-week low. The easing of tensions in the Middle East is weighing on energy prices today...

Barchart

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Oil Drops as US-Iran Fighting Pauses, But Analysts Warn Truce May Not Last

Oil prices plunge as US-Iran fighting pauses, but Iran denies a ceasefire, the Strait of Hormuz stays closed and analysts warn the fragile truce could collapse.

International Business Times UK

Israel Believes The U.S. And Iran Won't Reach a Deal Over The Hormuz Strait, So Trump Will Escalate

Israel reportedly believes Trump will soon be forced to escalate hostilities in Iran as a result of a continued deadlock related to passage through the Strait of Hormuz.

International Business Times

Saudi downs drones fired by Iran-backed militias in Iraq amid US-Tehran lull

Saudi Arabia intercepted drones launched by Iran-backed militias in Iraq. Mediators are pushing to revive diplomacy and restore an interim ceasefire arrangement. Commercial traffic through the Strait of Hormuz has fallen to its lowest level. Concerns have spread to the Bab al-Mandeb Strait after Houthi rebel threats. Diplomatic efforts continue…

The Economic Times

The Houthis Are Seeking To Halt The Flow Of Saudi Oil In The Red Sea. Traffic Is Already Slowing

Traffic through the Bab el-Mandeb has decreased after Yemen's Houthi rebels continued to attack Saudi oil facilities along the Red Sea coast as the group seeks to enforce an embargo of the country.

International Business Times

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Bird droppings were a foundation of modern agriculture and American empire

The closure of the Strait of Hormuz, through which roughly one-third of the world’s fertilizer normally passes, has made clear that access to nutrients for crops remains as strategically important in the 21st century as access to oil.

The Conversation

Iran says it retains control of Strait of Hormuz, rules out resuming US talks after Trump pauses bombing campaign

Iran maintains control of the Strait of Hormuz after the United States paused its bombing campaign. Tehran rejected suggestions that peace talks with Washington were set to resume soon. The suspension of strikes eased concerns over global oil supply disruptions and lowered crude prices. Iran claimed six ships were turned…

The Economic Times

Why US strikes on Hormuz suddenly stopped despite Trump's bluster

After nearly two weeks of sustained attacks around the Strait of Hormuz and repeated warnings from President Donald Trump that military action could intensify, the US abruptly paused its bombing campaign on Friday. The decision, according to multiple reports, was driven less by diplomacy than by a reassessment inside the…

The Times of India

Mediators see progress in diplomatic efforts to halt Iran war, 2 regional officials say

Mediators have made progress in efforts to bring the United States and Iran back to negotiations and prevent an all-out war in the Middle East, according to two regional officials

The Independent UK

Explained: Why crude oil prices tumbled over 9% to below $90/bbl in one day

Crude oil prices plunged more than 9% to $88 a barrel after the US paused strikes on Iran and Tehran signalled restraint, boosting hopes of de-escalation. Reports said China is backing Pakistan's efforts to revive US-Iran peace talks, easing fears of prolonged supply disruptions. The sharp decline in oil prices…

The Economic Times

Iran halts retaliatory strikes as US gives diplomacy 'more room'

Iran and the United States have paused their attacks, offering Gulf shipping and global oil markets a respite after weeks of escalating strikes around the Strait of Hormuz.

Radio France Internationale

Hormuz crisis puts Europe's oil market under further strain following post-ceasefire relief

After a brief reprieve in the wake of a ceasefire deal between the US and Iran, the crisis in the Strait of Hormuz has sent oil prices spiralling again. Europe in Motion breaks down the European countries with the most significant fluctuations.

Euronews

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The Economic Times

Saudi oil can still get out — but it won’t be cheap or easy

Saudi Arabia faces a challenge rerouting oil exports due to Houthi attacks. An existing pipeline bypasses the Strait of Hormuz, but a new detour is needed. This new bypass requires additional pipelines and significant diplomatic efforts. The kingdom must now push its oil north to avoid the Bab el-Mandeb strait.…

Euronews

US and Iran hold fire for third night as talks given 'space'

There had been 13 consecutive nights of US strikes on Iran, which the US military said aimed to "degrade Iran's ability to threaten commercial shipping in the Strait of Hormuz."

The Economic Times

Red Sea shipping slows after Houthi attack on Saudi Arabia, data shows

Ship traffic through Bab el-Mandeb decreased Sunday after Houthi attacks on Saudi oil sites. Fewer than ten commodity vessels passed through the Strait of Hormuz over the weekend. Seven vessels transited Hormuz on Sunday, including three Iranian-linked tankers.

The Independent UK

Iran-US war latest: Trump claims ‘good’ talks ongoing as Tehran hits out over Ukraine’s Caspian Sea tanker strike

Trump warns the US would resume ‘strong military action’ if talks with Iran fail

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The Economic Times

CENTCOM chief advised halting Hormuz strikes before Trump paused Iran campaign: Report

US Central Command chief advised stopping strikes near Strait of Hormuz due to limited effectiveness. President Trump halted American military strikes against Iran after receiving this advice. Military and civilian advisors acknowledged limits to air power campaigns and their accomplishments. Iran halted retaliatory attacks after Washington paused its strikes for…

France 24

Oil prices fall amid pause in US strikes on Iran to give 'space' for diplomacy

Oil prices fell on Monday amid a pause in strikes between the US and Iran, boosting hopes for a return to a ceasefire and new talks on reopening the Strait of Hormuz. The United States held fire over the weekend after 13 days of attacks on Iran, with Washington's UN…

The Economic Times

Oil Price Today (July 27): Crude oil dips 5%, below $95 as US pauses strikes on Iran. What are experts saying?

Brent crude futures dropped $4.89, or 5.05%, to $91.89, after briefly falling below the key $90 support level earlier in the session. US West Texas Intermediate crude stood at $84.64 a barrel, down $4.67, or 5.23%. The decline comes after crude prices surged 10% last week.

The Economic Times

Red Sea shipping slumps after Houthi strikes on Saudi Arabia energy infrastructure

Ship traffic through Bab el-Mandeb declined significantly on Sunday. This occurred after Yemeni Houthis attacked Saudi oil installations along the Red Sea coast. Meanwhile, transit through the Strait of Hormuz stayed low over the weekend. Seven commodity vessels passed through Bab el-Mandeb, the lowest level in months. Red Sea traffic…

The Economic Times

US, Iran hold fire for second day as ceasefire talks gain momentum

The United States and Iran refrained from launching attacks for a second consecutive day as mediators worked to revive an interim ceasefire agreement after nearly two weeks of escalating hostilities. The pause has raised cautious hopes for de-escalation, with Oman-led diplomacy focusing on restoring confidence and addressing disputes over navigation…

Fortune

Kospi index and U.S. stock futures jump as new Hormuz talks send oil prices plunging amid Iran war pause while Wall Street awaits Fed meeting

Iran and Oman are also in talks that center around having Iran run vessel transit through the Strait of Hormuz with fewer restrictions on ships.

The Conversation

New research shows how vulnerable Australia would be to attacks on shipping in the Indian Ocean

The closure of the Strait of Hormuz in the US-Iran war has brought home how vital maritime trading routes are to a country like Australia, which conducts 99% of its global trade by sea.

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