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The Latest Breaking News from the Strait of Hormuz

Oil prices rise as fragile US-Iran talks sustain supply worries

Oil prices edged up in early Asian trade as fragile U.S.-Iran negotiations highlighted supply concerns, with Tehran's response revealing significant differences. Disruptions through the Strait of Hormuz and OPEC's reduced output further fueled price stability above $100, while U.S. SPR loans and sanctions on Iranian oil shipments aimed to temper…

The Economic Times

Trump says he supports suspending US gas tax after prices remain high

President Trump supports suspending the federal gasoline tax amid surging prices driven by the Iran war, a move requiring congressional approval. Senator Hawley is introducing legislation for a 90-day suspension of both gas and diesel taxes. While some Democrats previously proposed a similar waiver, Senate leadership remains noncommittal, emphasizing reopening…

The Economic Times

Private jet travel should be restricted amid fuel shortage fears, majority of Brits say

It comes as global fuel supplies continue to be squeezed by Iran’s stranglehold on tankers passing through the Strait of Hormuz amid its conflict with the US and Israel

The Independent UK

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Is China's 'Nostradamus' right? Is a global depression and an escalation in the Strait of Hormuz looming? Here's what happened during the heated Piers Morgan debate

China's 'Nostradamus,' Professor Xueqin Jiang, warns of an impending global depression, a process he believes could span decades. He also highlighted China's unexpected diplomatic role in securing a ceasefire in the Strait of Hormuz, attributing the ongoing tensions to perceived US unreasonableness in negotiations with Iran. The situation carries potentially…

The Economic Times

Iran says ready to 'teach a lesson' if attacked after Trump called Tehran's latest peace proposal 'piece of garbage'

Iran's armed forces are prepared to retaliate after President Trump rejected Tehran's ceasefire proposal, escalating regional tensions. The dispute over the Strait of Hormuz, a critical oil route, has already caused significant energy supply shocks and threatens global food security, with the UN warning of a potential humanitarian crisis.

The Times of India

Strait of Hormuz Closure Pushes Crude Prices Higher

June WTI crude oil (CLM26 ) on Monday closed up +2.65 (+2.78%), and June RBOB gasoline (RBM26 ) closed up +0.0731 (+2.07%). Crude oil and gasoline prices settled sharply higher on Monday after President Trump rejected Iran's response to his latest peace proposal, which prolongs the closure of the Strait...

Barchart

Second Qatari LNG tanker heads through Hormuz to Pakistan as Iran war continues, data shows

A second Qatari LNG tanker, Mihzem, is transiting the Strait of Hormuz to Pakistan under an Iran-approved deal, following the Al Kharaitiyat's passage. This arrangement, facilitated by Pakistan's mediation role, allows Qatari cargoes to cross the waterway on a case-by-case basis amid conflict risks.

The Economic Times

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IRGC-linked media outlines plan to tax and control undersea internet cables in the Hormuz Strait — Iran's mouthpiece calls for a cut of $10 trillion of transactions that pulse through the cables daily

The oil and shipping choke point of the Strait of Hormuz looks set to become a digital pressure point with internet cabling under threat.

Tom’s Hardware

Iran says US must end 'one-sided pressure', calls its proposal 'generous'

Iran's foreign ministry has urged the US to abandon its "one-sided approach" and accept Tehran's "legitimate demands." These include ending hostilities, lifting blockades, and releasing frozen assets. Spokesperson Esmaeil Baghaei stated Iran's proposals are reasonable and aim for regional stability, accusing the US of "maximum pressure" and blaming its actions…

The Times of India

‘Totally unacceptable’: Trump rejects Iran’s ceasefire response sent via Pakistan

Iran has responded to a US ceasefire proposal through Pakistani mediators, seeking a permanent end to regional conflicts and guarantees for maritime security. President Trump rejected Tehran's position, calling it "TOTALLY UNACCEPTABLE!" amid rising tensions and drone incidents in the Gulf.

The Times of India

Iran's Push for Fees on the World's Internet Cables Turns the Strait of Hormuz Into a 20% Global Traffic Weapon

Iran plans to charge fees on undersea internet cables in the Strait of Hormuz, aiming to leverage this digital bottleneck for revenue and political influence.

International Business Times

‘Missiles, drones locked on US targets’: Iran warns of ‘heavy assault’ after tanker strikes in Gulf of Oman

Iran's IRGC has warned of a "heavy assault" on US military assets and ships if Iranian oil tankers or commercial vessels are attacked in the Strait of Hormuz. This follows US forces disabling two Iranian oil tankers in the Gulf of Oman and an earlier exchange of fire near the…

The Times of India

Indian sailor dies in dhow fire near Strait of Hormuz, 17 crew members rescued

An Indian sailor died and four were injured when a wooden dhow carrying 18 Indian crew members caught fire and capsized near the Strait of Hormuz. Seventeen crew members were rescued by a passing vessel, with the injured receiving treatment in Dubai. The cause of the fire is under investigation…

The Economic Times

Is the war over or not? US-Iran trade fire amid ceasefire, UAE hit again; where things stand

The fragile ceasefire between the United States and Iran appeared dangerously close to collapse on Friday after fresh military exchanges in and around the Strait of Hormuz reignited fears of a wider Middle East conflict. The latest escalation came after the US military said it intercepted Iranian missiles, drones and…

The Times of India

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The Independent UK

Oil tanker arrives in South Korea after passing through the Strait of Hormuz in mid-April

A South Korean refinery says a tanker carrying 1 million barrels of crude oil arrived off South Korea’s west coast after passing through the Strait of Hormuz in mid-April

The Economic Times

UAE says countering Iranian air attack

US-Iran war news: UAE air defences are actively responding to a missile and drone assault. Earlier, US forces intercepted Iranian attacks targeting three Navy ships. The US military also struck Iranian facilities responsible for these assaults. No ships were hit. This incident challenges the fragile ceasefire between the US and…

The Independent UK

Iran-US war latest: Tehran slams Trump’s ‘reckless military adventure’ with ceasefire on the brink after attacks on UAE

Trump warns Iran will be hit ‘more violently' in the future, if they don’t get the deal signed

The Economic Times

Oil Price Today (May 8): Crude oil snaps three-day losing streak as Iran-US clashes stoke Hormuz fears. What are experts saying?

Oil prices surged over 1% as renewed U.S.-Iran clashes raised concerns about the Strait of Hormuz's stability, disrupting hopes for its reopening. Iran accused the U.S. of breaching a ceasefire, while Washington cited retaliation for Iranian forces firing on its vessels. Despite recent losses, the conflict's escalation could significantly impact…

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The Times of India

US, Iran weigh 30-day ceasefire plan, reopening Strait of Hormuz; n-talks still in limbo

Iran and the US are reportedly in talks for a temporary truce, aiming to reopen the Strait of Hormuz and pave the way for broader nuclear negotiations. A 30-day pause in hostilities is proposed, with discussions focusing on lifting shipping blockades and ending military actions. More complex issues like sanctions…

The Economic Times

Global Market Today: Asian stocks drop, oil climbs on Iran tensions

Asian stocks retreated from record highs as Middle East tensions escalated, impacting crude oil prices and reviving concerns over energy supplies. US forces responded to Iranian attacks in the Strait of Hormuz, while President Trump issued a stern warning. Despite volatility, investors remain focused on de-escalation efforts and the AI…

Evening Standard

Trump brands Iran’s leaders ‘lunatics’ after attacks on US warships in strait

The president warns Tehran the US will ‘knock them out a lot harder’ if they do not sign a deal to end the war ‘fast’

The Times of India

'We’ll knock them out harder': Trump warns Iran of harsher military action after 3 US ships came under fire in Hormuz

President Donald Trump claimed three US destroyers were fired upon in the Strait of Hormuz but suffered no damage, stating Iranian attackers were destroyed. He issued a strong warning to Iran, threatening more violent military action if a deal is not signed quickly, calling the nation 'lunatics'.

The Independent UK

The Latest: US military says it intercepted Iranian attacks on 3 Navy ships in Strait of Hormuz

The U_S_ military said Thursday that it intercepted Iranian attacks on three Navy ships in the Strait of Hormuz and “targeted Iranian military facilities responsible for attacking U_S_ forces.”

Barchart

Stocks Fall on Doubts About an Imminent US-Iran Peace Deal

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed down -0.38%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.63%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.12%. June E-mini S&P futures (ESM26 ) fell -0.42%, and June E-mini Nasdaq futures...

The Times of India

Hormuz technically open for ships, but risks too high, says Indian National Shipowners’ Association chief

NEW DELHI: The Strait of Hormuz remains technically open, but commercial shipping is far from normal, according to Anil Devli, chief executive of the Mumbai-based Indian National Shipowners’ Association.

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