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The Latest Breaking News from the Strait of Hormuz

Trump says made 'fantastic trade deals' with Xi

President Donald Trump met with President Xi Jinping in Beijing. They discussed significant trade agreements beneficial to both nations. China offered assistance regarding the Strait of Hormuz. Discussions also touched upon artificial intelligence and oil purchases. The leaders addressed geopolitical flashpoints like Taiwan, aiming to manage differences.

The Economic Times

War worsens Lebanon's economic crisis with job losses, price gouging and slow business

The latest war between Israel and Hamas, and the closure of the Strait of Hormuz, have sent economic shock waves across the Mideast

The Independent UK

Trump and Xi wrap up summit claiming progress in stabilising ties but differences remain

The two leaders met on Friday at final talks of the superpower summit, which the US president said "settled a lot of different problems". Xi described Trump's visit as a "milestone visit".

Euronews

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‘Xi would also like to see the Hormuz Strait open’: Donald Trump on US-China talks

US President Trump revealed Chinese President Xi Jinping desires the Strait of Hormuz reopened to stabilize global energy markets. Both leaders reportedly agreed on the necessity of this crucial shipping route's resumption. Discussions also touched upon potential increased Chinese purchases of American oil and agricultural products, alongside ongoing tensions regarding…

The Times of India

HPCL, BPCL and IOC shares slide up to 3% after petrol, diesel price hike

Oil marketing company shares fell on Friday. Petrol and diesel prices saw a modest increase. This hike aims to ease financial pressure on companies. Global crude oil prices remain high due to West Asia conflicts. Prime Minister Modi urged fuel conservation. Oil Minister Hardeep Singh Puri expressed concern over companies…

The Economic Times

Iran-US war latest: Trump warns Tehran ‘clock is ticking’ after phone call with Netanyahu

A drone strike has sparked a ⁠fire at an electrical generator at the Barakah Nuclear Power Plant in Abu Dhabi

The Independent UK

Oil Price Today (May 15): Crude oil above $105 as Iran war resolution stagnates. Where is liquid gold headed?

Oil prices climbed Friday amid fears of ship attacks and seizures, despite Iran's claims of safe passage through the Strait of Hormuz. Traders are also watching US-China trade talks closely. Geopolitical tensions remain high, with disruptions significantly tightening global oil supplies and potentially impacting prices until late 2027.

The Economic Times

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Oil rises as fears of ship attacks and seizures persist

Oil prices saw an increase on Friday. Market worries persist regarding ship attacks and seizures. Iran stated many vessels passed through the Strait of Hormuz. U.S. and Chinese presidents continued their discussions in Beijing. A ship was reportedly seized off the United Arab Emirates. The U.S. and China agreed on…

The Economic Times

West Asia War: Ship reported seized off UAE as Trump discusses Iran with Xi

A ship was seized by Iranian personnel near the UAE. US President Trump and Chinese President Xi Jinping agreed on keeping the Strait of Hormuz open. An Indian cargo vessel was sunk off Oman. Iran is making deals for ships to pass through the strait. Iran's Judiciary Spokesperson stated seizures…

The Economic Times

Iran permits 30 vessels to pass through Strait of Hormuz overnight; Hezbollah strikes Israel - top developments

Iran’s Revolutionary Guards said around 30 ships had crossed the Strait of Hormuz with Tehran’s permission since Wednesday evening, signalling a limited easing of restrictions on one of the world’s most important energy routes. Iranian media reported that several Chinese vessels were among those allowed through after what officials described…

The Times of India

Iran is threatening undersea cables. The world’s ‘digital chokepoints’ have never been more vulnerable

Early this week, Iranian state-linked media floated a plan to charge the operators of undersea internet cables in the Strait of Hormuz for access to what they say is Iran’s offshore territory.

The Conversation

Ilhan Omar Says Trump's Cognitive Decline Has Been Visible "For a Very Long Time"

Rep. Ilhan Omar said President Donald Trump's apparent cognitive decline has been visible "for a very long time," sharpening one of her most personal criticisms of the president just as he headed into a high-stakes trip to China dominated by the Iran war, the Strait of Hormuz and fears of…

Latin Times

Trump says Xi vowed not to arm Iran, offered help to open Hormuz

US President Donald Trump has said that Chinese President Xi Jinping had offered China’s help to reopen the Strait of Hormuz and pledged not to provide military equipment to Iran amid its war with the United States and Israel.

The Times of India

Xi tells Trump that mishandling of Taiwan could spark conflict

Chinese President Xi Jinping met with US President Donald Trump for trade talks. Xi Jinping stated that trade negotiations were progressing positively. However, he issued a strong warning regarding Taiwan, emphasizing that disagreements over the island could lead to a dangerous path and potential conflict between the two nations. The…

The Economic Times

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Barchart

Crude Oil Prices Slip on Dollar Strength

June WTI crude oil (CLM26 ) today is down -0.19 (-0.19%), and June RBOB gasoline (RBM26 ) is down -0.0534 (-1.48%). Crude oil and gasoline prices are under pressure today from a rally in the dollar index ($DXY ) to a 2-week high. Also, signs that OPEC+ may boost its...

The Economic Times

A tiny oil lifeline reopens through tense Hormuz after months of chokehold

More oil tankers are navigating the Strait of Hormuz. This offers some relief to the global oil market. Several ships carrying crude oil have exited the waterway recently. Some vessels are traveling with their satellite signals off. This makes tracking difficult. Iran has allowed Chinese ships to pass. Other oil…

Reason

New Attacks in Hormuz

Plus: a different type of pizzagate, Kevin Warsh as the new Jerome Powell, and more...

International Business Times

U.S. And China Agree That Strait Of Hormuz Should Not Be Militarized, Rubio Says

Secretary of State Marco Rubio said the U.S. and China agreed on the notion that the Strait of Hormuz should not be militarized as Iran seeks to control the key waterway amid the war.

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Euronews

World markets rise on Trump-Xi summit hopes

Trump and Xi met at the Great Hall of the People in Beijing, where both sides agreed the Strait of Hormuz must remain open, a key demand as the Iran war drags into its third month.

The Conversation

How the world can avoid millions going hungry when supply chains collapse

Millions more people will face hunger in the coming months if the conflict in the Middle East is not resolved soon, the UN has warned. The price of energy, which instantly affects the cost of producing and transporting food, has risen sharply due to the closure of the Strait of…

Euronews

Ship seized near UAE coast headed for Iranian waters, UK maritime agency says

A ship has been taken near the UAE coast and is headed for Iranian waters, the UK's UKMTO said, in the latest vessel seizure around the Strait of Hormuz.

The Economic Times

Two India-bound LPG tankers transit through Strait of Hormuz amid US-Iran war

Two ships carrying cooking fuel have successfully passed through the Strait of Hormuz. These vessels are heading towards India. This marks an increase in such passages recently. Several other large ships carrying oil, fuel, and gas have also navigated the strait. Some vessels are still near a US blockade line.…

The Independent UK

Iran regime has ‘gun to our head’ over Strait of Hormuz, says former CIA boss

Leon Panetta warns that President Donald Trump may have bitten off more than he can chew and that a conflict he assumed could be won in weeks will in fact drag on for months

Euronews

Jet fuel crisis: How to travel to Spain without taking a plane as flight prices soar

Tension in the Strait of Hormuz is making jet fuel more expensive and has put air travel in a bind. Now a new debate has arisen: how you can travel to Spain without a plane. We analyse and note all the options available.

The Economic Times

Oil Price Today (May 14): Crude oil above $105 per barrel. Here’s why Trump-Xi meeting is important for Strait of Hormuz

Oil prices edged higher as investors awaited talks between U.S. President Trump and Chinese President Xi Jinping, focusing on economic gains and geopolitical issues like the Iran war. Despite concerns over interest rate hikes, crude futures saw slight increases, with analysts warning of potential price surges if the Strait of…

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