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The Latest Breaking News from the Strait of Hormuz

High airfares and fuel costs may disrupt summer travel, airports body warns

Rising airfares and elevated jet fuel costs are prompting airlines to reduce flights, potentially disrupting summer travel plans. The Airports Council International warns that higher ticket prices are dampening passenger demand, with no immediate relief in sight. This situation is exacerbated by disruptions around the Strait of Hormuz, impacting fuel…

The Economic Times

China urges Pakistan to step up Iran-US mediation: Chinese media

China is pushing Pakistan to boost its role in mediating talks between Iran and the United States. This comes as discussions focus on stability in the Strait of Hormuz. Meanwhile, a US Senator has voiced doubts about Pakistan's neutrality. These concerns arise from reports of Iranian military aircraft being allowed…

The Economic Times

'Bing. Bing. Gone.' Trump Shares AI Laser Attack Images on Iran as Pentagon Tech Official Posts Matching Message

Donald Trump shared an AI-generated image of a US warship using laser weapons against Iranian targets, sparking debate amid ongoing tensions in the Strait of Hormuz.

International Business Times UK

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Oil Price Today (May 13): Crude oil snaps 3-day fall ahead of Trump’s China visit. What are experts saying?

Oil prices dipped after a three-day climb as investors monitored the fragile Iran ceasefire and an upcoming U.S.-China summit. The Strait of Hormuz remains effectively shut, impacting global supply and raising inflation concerns, with analysts warning of further price surges if disruptions persist.

The Economic Times

With ceasefire talks stalled, Trump and Hegseth claim 'control' over Iran and Strait of Hormuz

Kuwait alleges Iran attempted an attack on Bubiyan Island. This incident occurs as U.S. President Trump visits China. Tensions are high in the Persian Gulf. Israel has deployed air defense to the UAE. The Strait of Hormuz remains a critical point of contention. Norway reports stranded vessels due to shipping…

The Economic Times

Australian spy plane to aid Hormuz shipping mission

A defensive effort to safeguard shipping in the Strait of Hormuz will be aided by an Australian E-7A Wedgetail as part of a global mission.

AAP

Crude Oil Prices Surge on Concern Over Prolonged Closure of Hormuz

June WTI crude oil (CLM26 ) on Tuesday closed up +4.11 (+4.19%), and June RBOB gasoline (RBM26 ) closed up +0.0979 (+2.72%). Crude oil and gasoline prices settled sharply higher for a second day on Tuesday after President Trump cast doubt over the ceasefire with Iran, which could lead to...

Barchart

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Trump brushes off Iran war’s cost at home: ‘I don’t think about Americans’ financial situation’

President’s stunning admission comes as American struggle with surging inflation and record gas prices as a result of the continued blockade of the Strait of Hormuz

The Independent UK

India brings back COVID-era work-from-home rules and asks farmers to halve fertilizer use as the Iran war chokes its oil lifeline

India is particularly exposed to the Iran oil shock as 50% of its crude oil imports pass through the Strait of Hormuz.

Fortune

EU says could expand naval mission to Strait of Hormuz

EU's top diplomat Kaja Kallas indicated the bloc may expand its Red Sea naval mission, Operation Aspides, to include the Strait of Hormuz post-Iran war. This potential extension aims to secure vital shipping lanes, with some nations already pledging additional vessels to bolster the mission's capabilities.

The Economic Times

Crude Oil Prices Rally on Doubts Over US-Iran Ceasefire

June WTI crude oil (CLM26 ) today is up +3.95 (+4.03%), and June RBOB gasoline (RBM26 ) is up +0.1110 (+3.08%). Crude oil and gasoline prices are moving sharply higher today after President Trump cast doubt over the ceasefire with Iran, which could lead to the escalation of hostilities that...

Barchart

'Overplayed its hand before': Iran bets Trump will blink first - will the gamble work?

Iran is betting it can outlast President Trump's term in high-stakes negotiations, employing brinkmanship and economic pain tolerance. Analysts warn this strategy, centered on weaponizing the Strait of Hormuz, risks escalating into renewed war if Iran overplays its hand.

The Times of India

Qatar warns Iran against weaponising Hormuz to 'blackmail' Gulf countries

Qatar warned Tehran on Tuesday against using the Strait of Hormuz as a "weapon" to hold Gulf states to ransom, as Doha and Ankara backed ongoing mediation efforts to end the Iran war and restore access to the vital waterway.

Euronews

India 10-year bond yield hits 5-week high on rising oil and war jitters

Hopes for a deal dimmed after Donald Trump said ‌a ceasefire with ⁠Iran was "on ⁠life support". Concerns about oil supply deepened after a senior officer in Iran's Islamic Revolutionary Guard Corps Navy said Tehran had expanded its definition of the Strait of Hormuz into a "vast operational area" far…

The Economic Times

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The Times of India

The superpower trap: Xi, Trump, and the myth of American decline

President Trump's China visit occurs amid a US-Iran stalemate, with analysts suggesting Xi Jinping holds more leverage. Many in Beijing view Trump as a symptom of liberal democracy's instability and American decline, validating Xi's "rise of the East" worldview. This perception of US weakness could lead China to miscalculate and…

Euronews

Global trade’s next top priority: Bypassing the Hormuz chokepoint

Global shipping firms are redesigning trade routes as tensions in the Strait of Hormuz disrupt supply chains, raise costs and expose the vulnerability of global commerce to geopolitical conflict.

The Conversation

How big oil companies can slow the green transition by suing governments that ban fossil fuels

The UN’s climate summit in Brazil did not produce a fossil fuel roadmap last November, as had been expected. Now the closure of the Strait of Hormuz has exposed the fragility of global dependence on fossil fuels.

The Economic Times

The battle for Hormuz risks sparking the next Iran clash

Iran is now controlling passage through the Strait of Hormuz. This new arrangement could continue even after the current conflict ends. Gulf exporters and buyers are uneasy about Iran dictating oil and gas flows. The United States opposes this shift in control. The future of the Gulf hinges on who…

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Euronews

Shipping industry fears fuel shortages that could drive up prices worldwide

Global shipping companies are bracing for fuel shortages and rising costs as the Iran war disrupts supplies of bunker fuel through the Strait of Hormuz.

The Economic Times

Why are oil prices up today, and will Brent crude futures and US WTI rates rise sharply in near future? Oil rises as supply fears return

Why are oil prices up today, and will Brent crude futures and US WTI rates rise sharply in near future? Oil prices increased as hopes for a peace deal faded and supply fears returned. The Strait of Hormuz risk, lower OPEC output, falling US crude stocks, and US-China tensions pushed…

The Economic Times

UAE's main gas complex to resume full capacity next year after attacks

Dubai's major gas processing complex, a global giant, faces a delayed return to full capacity until 2027 following Middle East conflict. Operator ADNOC Gas reported a 15% income drop due to regional instability and market challenges, with the Strait of Hormuz blockade expected to cost millions. Full restoration is anticipated…

The Independent UK

Shipping industry fears fuel shortages as Iran war squeezes bunker fuel supply

The global maritime industry is facing a looming shortage of the fuel that powers ships as the Iran war chokes off a key shipping lane in the Strait of Hormuz

Radio France Internationale

France and UK convene 40-nation Hormuz talks, as Iran stand-off continues

The United Kingdom and France are set to co-host a multinational meeting on Tuesday aimed at turning diplomatic efforts over the Strait of Hormuz into a practical security operation, as Western powers seek to stabilise the strategically important waterway after months of conflict and disruption.

The Economic Times

Peace deal hopes fade after Trump rejects 'garbage' Iran proposal

Hopes for an Iran peace deal have dimmed as President Trump stated a ceasefire is "on life support" following Tehran's rejection of a U.S. proposal. Iran presented a list of demands, including an end to the war on all fronts and compensation, which Trump dismissed. The Strait of Hormuz remains…

The Independent UK

Iran-US war latest: Trump accuses media of treason as US intel reportedly claims Tehran retains substantial missile capabilities

Trump says reports that the ‘Iranian enemy is doing well’ are ‘false’

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