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The Latest Breaking News from the Strait of Hormuz

Trump's room to maneuver narrows as US, Iran close in on framework deal

President Trump faces a strategic dilemma as a potential framework deal with Iran emerges, aiming to extend a ceasefire and reopen the Strait of Hormuz. This interim agreement, however, risks backlash from party hawks concerned about Iran's nuclear program, while deferring key discussions on its nuclear ambitions.

The Economic Times

Oil falls slightly on reports of potential US-Iran ceasefire deal

Oil prices saw a slight dip amid hopes for a U.S.-Iran ceasefire extension. Vice President JD Vance indicated progress but stated a deal is not yet finalized. This news has kept oil prices from falling further. Discussions are ongoing regarding Iran's nuclear program and uranium stockpiles. The Strait of Hormuz…

The Economic Times

Trump’s meeting on Iran peace deal has ended, White House official says

US President Donald Trump on Friday finished a meeting in the high-security White House Situation Room during which he said would make a "final determination" on an Iran peace deal, a White House official told AFP. The official did not say if the president had reached a decision. Read our…

France 24

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Fire rips through dormitory at girls' school in Kenya

In tonight's edition, 16 students have lost their lives after a fire tore through a boarding school in central Kenya. Also, May 28 is World Hunger Day, and it comes as many farmers and families across the continent are grappling with the fallout from the closure of the Strait of…

France 24

US, Iran agree deal but need Trump approval: sources

WASHINGTON (UNITED STATES) - US and Iranian negotiators have agreed on a framework for a 60-day ceasefire extension deal but it still needs President Donald Trump's approval, US sources told AFP on Thursday.

Bangkok Post

Crude Oil Prices Rise as US-Iran Peace Deal Not Yet Realized

July WTI crude oil (CLN26 ) on Thursday closed up +0.22 (+0.25%), and July RBOB gasoline (RBN26 ) closed up +0.0339 (+1.11%). Crude oil and gasoline prices recovered from early losses on Thursday and settled higher after US forces struck Iranian military targets for the second time this week and...

Barchart

Why are oil prices down today, and will Brent and US WTI crude futures continue to drop or rise again? Ceasefire report and US stockpile data impact crude market

Why are oil prices down today, and will Brent and US WTI crude futures continue to drop or rise again? Oil prices moved lower after reports claimed the United States and Iran reached a ceasefire extension agreement. Brent crude and US WTI crude futures also reacted to lower-than-expected US crude…

The Economic Times

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US and Iran reach tentative deal, pending Trump's approval

The US and Iran have agreed to extend the ceasefire by 60 days to make space for further negotiations to end the war but Trump still has to approve the deal, reports said Thursday, citing US officials familiar with the matter.

Euronews

EU envoy seeks more vessels to secure Hormuz navigation once the war in Iran ends

The European Union's foreign policy chief says securing freedom of navigation through the Strait of Hormuz after the Iran war ends will require more ships

AAP

US and Iran reach peace deal pending Trump approval: officials

The agreement, if approved, would reopen the Strait of Hormuz and set up talks over the disposal of Iran’s highly enriched uranium

The Independent UK

Crude Oil Prices Supported as Strait of Hormuz Remains Closed

July WTI crude oil (CLN26 ) today is up +0.37 (+0.42%), and July RBOB gasoline (RBN26 ) is up +0.0168 (+0.55%). Crude oil and gasoline prices recovered from early losses and moved higher today after US forces struck Iranian military targets for the second time this week and Kuwait said...

Barchart

Bigger proportion of non-Iran ships crossing Hormuz strait: Data

The proportion of vessels not linked to Iranian ownership that are transiting the key Strait of Hormuz has risen, according to data from maritime firm Lloyd's List Intelligence shared Thursday. Adding to the uncertainty, Iranian forces have fired at four ships attempting to cross the Strait of Hormuz without authorisation,…

The Economic Times

Bandar Abbas under attack again? Why the world fears every strike near Bandar Abbas as the renewed Strait of Hormuz crisis deepens the global oil shock

The US has struck Bandar Abbas again. For the second time in less than a week, American forces targeted Iran's most critical southern port city. Bandar Abbas sits on Iran's southern coast, positioned at the northern entrance of the Strait of Hormuz. The strait's narrowest point lies roughly 60 to…

The Economic Times

Gulf of suspicion: US and Iran said to be nearing deal even as missiles fly

Amidst escalating tensions and attacks in the Strait of Hormuz, the US and Iran are reportedly nearing a diplomatic breakthrough. A draft Memorandum of Understanding could extend a fragile ceasefire, opening a 60-day window for talks on Iran's nuclear program in exchange for economic relief.

The Times of India

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The Conversation

The Strait of Hormuz: The supply chain loop that broke the world

It took only five days after the attack on Iran by the United States and Israel in late February for Iran to close the Strait of Hormuz, one of the world’s most vital energy and maritime chokepoints.

The Economic Times

Merchant ships desert Strait of Hormuz amid renewed US strikes

Commercial shipping traffic through the Strait of Hormuz nearly came to a halt on Thursday as fears of renewed military escalation between the US and Iran intensified. Ship-tracking data showed no commercial vessels crossing the key oil chokepoint Thursday morning after only six two-way crossings on Wednesday.

The Conversation

South Africa’s fuel supply and the Iran war: data black holes and low strategic stock put the country at risk

The supply of crude oil to the world had been reduced by about 7.5% to 10.1% by March 2026 in what the World Bank described as the largest oil market disruption in history. The fall was a result of the attacks on Iran by Israel and the US and the…

The Conversation

It’s not just high gas prices – inflation is now spreading through the US economy

Americans don’t need a press release to know that inflation is rising. Gasoline is above $4 per gallon amid the ongoing conflict in the Middle East and closure of the Strait of Hormuz, and the release of key price data on May 28, 2026, underscores why policymakers are worried these…

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Salon

No art to Trump’s Iran deal

Rumors of an agreement keep coming. But the president says “We don’t need anything”

The Economic Times

US, Iran accuse each other of violating truce after attacks

The US and Iran accused each other of breaching a fragile ceasefire after fresh clashes around the Strait of Hormuz, marking the worst flare-up since the truce began in April. Iran said it fired at unauthorised ships and targeted a US-linked airbase after strikes near Bandar Abbas, while US forces…

The Economic Times

IMEC, Indo-Pacific routes key to reducing Hormuz dependence: EY

India is urged to diversify its trade routes and develop new corridors like IMEC and the Indo-Pacific route. This aims to lessen dependence on the Strait of Hormuz amid West Asia tensions. The nation must prepare for economic shocks by building strategic reserves and shifting towards green energy.

The Independent UK

Why has Trump threatened to ‘blow up’ US ally Oman?

Trump made the threat as he declared that ‘nobody’s going to control’ the Strait of Hormuz after the war

France 24

Oil prices on the rise again as US-Iran fighting escalates

Benchmark prices for crude oil rose on Thursday as Iran said it targeted a US airbase in response to American air strikes. Commercial traffic through the Strait of Hormuz, which had slightly ticked up in previous days, dwindled down to almost nothing again. Also in this edition: Australia takes legal…

Euronews

Exclusive: IEA chief Birol warns Europe easing Russian energy sanctions would be 'major mistake'

IEA chief says “knocking on Russia’s door” would be a repeat of past mistakes, even as the EU is rattled by a price shock stemming from the Strait of Hormuz shutdown. Agency warns of "biggest energy security crisis ever".

The Independent UK

Iran-US war latest: Deal to extend ceasefire and reopen Strait of Hormuz ‘just needs Trump signature’

Iranian media denied reports that a draft agreement of ceasefire extension is with Trump for approval

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