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The Latest Breaking News from the Strait of Hormuz

Crude Oil Sharply Higher as Iran War Disrupts Global Supplies

April WTI crude oil (CLJ26 ) on Tuesday closed up +3.33 (+4.67%), and April RBOB gasoline (RBJ26 ) closed up +0.0868 (+3.66%). Crude oil and gasoline prices rallied sharply for a second day on Tuesday, with crude posting an 8.5-month high and gasoline posting a 19-month high. The main bullish...

Barchart

Iran Fires on the One Port Designed to Bypass the Strait of Hormuz, and Oil Markets Are Already Reacting

The recent attack on Fujairah's oil facilities highlights the escalating tensions in the Gulf, impacting global oil supply and prices.

International Business Times UK

What is the Strait of Hormuz, and why does its closure matter so much to the global economy?

The joint attack launched by the United States and Israel on Iran began on Feb. 27 and has sparked a fast-moving conflict that could expand across the Middle East.

The Conversation

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$100 Oil? A Prolonged Hormuz Closure Could Trigger a 1970s-Style Energy Shock

Explore the strategic importance of the Strait of Hormuz and how escalating tensions could impact global oil markets and prices.

International Business Times UK

Iran issues new Strait of Hormuz warning as tanker traffic grinds to a halt

An expert has warned that a lengthy closure would push crude oil prices ‘well into triple digits’

The Independent UK

‘Rise up, oil, from your knees!’: Putin may mourn Khamenei, but Russia is excited about the strikes’ impact on oil prices

Constrained supply + Higher prices = War funds

We Got This Covered

Experts say Middle East conflict should have no ‘immediate impact’ on UK energy bills

Households across the UK should not anticipate an immediate impact on their energy bills following the escalating crisis in the Middle East.

The Independent UK

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Strait of Hormuz Closure is a Guaranteed Global Recession, Inflation Risks Surge on Rising Oil Prices

The closure of the Strait of Hormuz could impact global energy supply chains and drive up oil prices, which analysts believe could lead to a worldwide recession.

International Business Times UK

Oil prices rise further as Iran blocks vital shipping route

Brent crude rose by more than another 3% on Tuesday to a one-year high of 80 US dollars a barrel.

Evening Standard

Chicago Board of Trade Wheat Futures: Is a Sustained Rally Brewing?

Geopolitics alert: The 2026 US-Israel-Iran conflict has disrupted the Strait of Hormuz, spiking oil & freight costs. Higher energy = pricier fertilizer/transport → potential floor under wheat prices.

Barchart

Energy markets offer ‘relatively small reaction’ to Iran war, but prices could spike if oil and gas aren’t flowing by the end of the week

Crude prices jumped 6% March 2, but they have risen 25% since the beginning of the year as tensions with Iran have escalated.

Fortune

Oil markets are bracing for $100 barrels and a redux of a 1970s-era crisis but 'three times the scale,' analyst warns

U.S. gas prices rose 40% as a result of the 1973 oil shock, and prices at the pump are threatening to increase again as a result of the U.S. and Israeli strike on Iran.

Fortune

What to know about the Strait of Hormuz, a key passageway essential for global energy supply

Oil prices are up sharply as the widening Iran war disrupted tanker traffic through the Strait of Hormuz, highlighting how important the passageway is to the world’s oil supply

The Independent UK

Could Iran Close Hormuz? Experts Say It Is Not That Simple

Explore the geopolitical significance of the Strait of Hormuz and the complexities surrounding potential disruptions.

International Business Times UK

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Euronews

Why the Strait of Hormuz is crucial to global oil and maritime trade

The Strait of Hormuz is a key shipping lane linking the Gulf to global markets, with a large share of the world’s oil and gas passing through it daily. Disruptions caused by tensions between Iran, the US and Israel risk affecting energy supplies and international trade. Watch the video for…

International Business Times UK

US and Israel Strikes Iran: How Middle East Tension Could Raise Fuel Prices

The recent military actions by the US and Israel against Iran have caused significant ripples in global oil markets, with potential impacts on fuel prices worldwide.

Euronews

Another oil tanker hit by drone boat as Strait of Hormuz tensions rise

An oil tanker has been struck near the Strait of Hormuz, marking another attack in the area that triggered an explosion and left one crew member dead.

Euronews

‘A world chained to fossil fuels’: Does the war on Iran prove it’s time to quit oil for good?

After Iran warned that the Strait of Hormuz was closed for navigation, climate groups have urged governments to focus on clean energy.

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The Independent UK

Oil prices surge as Strait of Hormuz tanker disruptions rattle global supply

Oil prices have jumped as tanker disruptions near the Strait of Hormuz raise fears about supply shortages from the Persian Gulf

The Independent UK

Oil, gas and stocks fluctuate over Iran war – what does it mean for your money, pension and energy prices?

The latest conflict, which is spreading across the Middle East, will have a significant knock-on effect in terms of inflation, interest rates and commodity prices

International Business Times

Oil Prices Surge as Attacks on Ships Near Strait of Hormuz Heighten Fears of Supply Disruptions

Global oil prices jumped sharply Monday as attacks on multiple commercial vessels near the Strait of Hormuz, amid escalating conflict between Iran, the United States and Israel, raised alarms over potential interruptions to roughly one-fifth of the world's seaborne crude supplies.

The Times of India

Watch: Saudi Aramco oil refinery, one of the Middle East’s largest hubs, hit by Iranian drone

Saudi Aramco's Ras Tanura refinery facility was struck by a drone, leading to its shutdown and exacerbating global supply concerns. This incident follows attacks on vessels in the Strait of Hormuz, nearly halting oil shipments. The drone strike is part of a wider regional escalation, with other Gulf states also…

The Independent UK

Oil prices soar as Iran’s attack on ships near Strait of Hormuz raise fears of wider economic shock

Spike follows claims Iran’s Revolutionary Guards struck three oil tankers in the Gulf and the Strait of Hormuz

Fortune

Dow futures fall 350 points on U.S.-Iran conflict, but oil prices pare gains as Trump hints at sanctions relief for new leadership

"There is, however, a risk that the OPEC+ decision is moot if flows do not resume through the Strait of Hormuz."

The Independent UK

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.

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