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The Latest Breaking News from the Strait of Hormuz

Ship escorts to start in Strait of Hormuz "soon," Trump officials say

Scott Bessent made the comments to Sky News as he confirmed the war had cost the U.S. $11 billion thus far.

Axios

‘Not going to close’: Iran’s UN envoy contradicts Mojtaba Khamenei over Strait of Hormuz remarks

Iran's UN ambassador stated Tehran will not close the Strait of Hormuz, despite recent remarks from the supreme leader suggesting its use as leverage. While asserting the right to ensure regional security, the ambassador emphasized Iran's commitment to freedom of navigation under international law, attributing current tensions to US actions.

The Times of India

Newsom trolls Trump as Putin’s pup after US lifts sanctions on Russian oil during Iran war

As oil prices hit $100 a barrel again Thursday, the Treasury Department said it would allow countries to purchase Russian oil ‘currently stranded at sea’

The Independent UK

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'They were going to take over Middle East': Trump says Iran had 1,200 missiles pointed at four countries

US President Donald Trump asserted Iran has amassed approximately 1,200 missiles targeting Middle Eastern nations, amidst escalating tensions following threats from Iran's new supreme leader, Mojtaba Khamenei. Trump suggested Khamenei, despite injury speculation, is likely alive and urged vessels to transit the Strait of Hormuz, stating Iran lacks a significant…

The Times of India

US navy will escort oil tankers through Strait of Hormuz despite Iran threats, says treasury secretary

Scott Bessent said Chinese tankers have passed through the Strait in what he claimed was a sign Tehran ‘have not mined’ the passage

The Independent UK

Stocks Slump on Iran War and Credit Woes

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed down -1.52%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -1.56%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -1.73%. March E-mini S&P futures (ESH26 ) fell -1.49%, and March E-mini Nasdaq futures...

Barchart

Crude Oil Surges as Strait of Hormuz Remains Closed

April WTI crude oil (CLJ26 ) on Thursday closed up +8.48 (+9.72%), and April RBOB gasoline (RBJ26 ) closed up +0.1763 (+6.32%). Energy prices settled sharply higher on Thursday due to comments from Iran's Supreme Leader Ayatollah Mojtaba Khamenei, who said that Iran's leverage of closing the Strait of Hormuz...

Barchart

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Supply Concerns Support Coffee Prices

May arabica coffee (KCK26 ) on Thursday closed up by +4.50 (+1.57%), and May ICE robusta coffee (RMK26 ) closed up by +72 (+2.03%). Coffee prices finished sharply higher on Thursday due to the Iran war, which has closed the Strait of Hormuz and disrupted global shipping. Iran’s Supreme Leader...

Barchart

Exclusive: Tehran does not want to block Strait of Hormuz, Iranian ambassador tells Euronews

In sharp contradiction to the new Ayatollah Mojtaba Khamenei's statement on Thursday, the Iranian ambassador to the UN told Euronews that Iran does not plan to block or mine the Strait of Hormuz.

Euronews

Trump Urges Oil Shipping Firms to 'Show Guts' and Pass Through Strait of Hormuz Despite Threats

Donald Trump urges oil shipping firms to continue through the Strait of Hormuz despite threats from Iran, highlighting risks to energy security and global oil markets.

International Business Times UK

FTSE 100 falls on growing fears of prolonged war in Middle East

Stocks were under pressure and oil climbed as Iran’s new supreme leader ordered the vital Strait of Hormuz shipping lane to remain closed.

Evening Standard

'If the Strait of Hormuz were to remain closed, we would face a major crisis'

The war in the Middle East is sending shockwaves through global energy markets as the tensions spillover into the Strait of Hormuz, one of the world’s most important oil transportation routes. Former French economy minister Eric Lombard tells RFI the situation could trigger a major global economic crisis if it…

Radio France Internationale

What are the minelaying boats targeted in Trump’s new strikes on Iran?

At least 6,000 ships have been blocked from passing through the mined Strait of Hormuz since the conflict began

The Independent UK

Trump promised US Navy protection for ships in Strait of Hormuz, but Iran is blowing up vessels and the Navy is nowhere to be found

Operation Epic Blunder continues.

We Got This Covered

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Axios

What it will mean for the economy if the Strait of Hormuz stays closed

If the military situation doesn't change soon, it will create a stagflationary drag on the U.S. economy.

Euronews

Could oil prices really reach $200 a barrel as claimed by Iran?

As the Iran war approaches the two-week mark, energy markets are bracing for a potential "super shock". The IRGC has repeatedly threatened to push oil prices up to $200 per barrel, leveraging its control over the Strait of Hormuz, but how realistic is this scenario?

Barchart

Coffee Prices Climb as Iran War Raises Global Supply Concerns

May arabica coffee (KCK26 ) today is up by +6.75 (+2.35%), and May ICE robusta coffee (RMK26 ) is up by +82 (+2.31%). Coffee prices are climbing today due to the Iran war, which has closed the Strait of Hormuz and disrupted global shipping. Iran’s Supreme Leader Ayatollah Mojtaba Khamenei...

Barchart

Crude Oil Surges as Iran War Drags On

April WTI crude oil (CLJ26 ) today is up +8.84 (+10.13%), and April RBOB gasoline (RBJ26 ) is up +0.1341 (+4.81%). Energy prices are sharply higher today on comments from Iran's Supreme Leader Ayatollah Mojtaba Khamenei, who said that Iran's leverage of closing the Strait of Hormuz should be used...

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Evening Standard

Keir Starmer ‘working to de-escalate the war’ as Iran vows to avenge its dead

Ayatollah Mojtaba Khamenei has also threatened to continue blocking the Strait of Hormuz, driving up oil prices.

Evening Standard

Iran's new supreme leader vows to keep blocking Strait of Hormuz and avenge 'martyrs' in defiant message for Trump

In his first statement as leader, Mojtaba Khamenei said Iran should still use the ‘lever of blocking the Strait of Hormuz’

Reason

Trump Goes to War

Plus: Donald Trump vs. Thomas Massie, Republicans preparing to kill the filibuster for a very dumb reason, explosions in the Strait of Hormuz, and more...

We Got This Covered

‘Nothing to be afraid of!’ Donald Trump told ships to ‘show some guts’ in Strait of Hormuz, here’s what happened next

Oopsie!

Euronews

Global Loss and Damage Fund Offers Hope as Africa Faces Rising Climate Costs {Business Africa}

Africa is waiting for real financing from the global Loss and Damage Fund designed to help countries cope with climate-related destruction. From the Strait of Hormuz to African markets: Rising geopolitical tensions are pushing up global oil prices—driving higher fuel and food costs in Africa

Evening Standard

'We'll make a lot of money,' says Trump as oil price jumps leaving millions facing higher energy, petrol and food bills

‘The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,’ says the US president

The Times of India

'We are simply not ready': US says its military cannot escort vessels in Strait of Hormuz right now

America's military is currently unable to escort oil tankers through the Strait of Hormuz. Energy Secretary Chris Wright stated that military assets are focused on Iran's offensive capabilities. Escort operations are expected soon, possibly by month's end. US forces have eliminated Iranian vessels suspected of laying mines near the strait.

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