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The Latest Breaking News from the Strait of Hormuz

Looking to Protect Your Portfolio from the Strait of Hormuz? Why Ulta Beauty Stock Could Be an Unlikely Buy.

As oil shocks rattle spending, Ulta Beauty is thriving on small indulgences, offering resilience while broader demand feels the pinch.

Barchart

US blockade of Strait of Hormuz ratchets up tensions with China ahead of Trump visit to Beijing

The Trump administration’s decision to carry out a naval blockade of the Strait of Hormuz has raised tensions in the Persian Gulf to new and more perilous levels. The move was announced by the US president, Donald Trump, after negotiations over a ceasefire with Iran broke down on April 11,…

The Conversation

Chevron Executive Says Americans Should 'Drive Less' And 'Conserve Energy' As Gas Prices Remain High

Chevron executive Andy Walz said Americans should "try to drive less" and "conserve energy" as gas prices remain high as a result of the war in Iran and the blockade of the Strait of Hormuz.

International Business Times

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Donald Trump Stuns Diplomats by Claiming Xi Jinping Will Give Him a 'Big, Fat Hug' Over Iran Deal

Donald Trump's prediction that Xi Jinping will give him a 'big, fat, hug' over his Iran and Strait of Hormuz strategy collides with Beijing's silence and its public focus on shoring up ties with Moscow.

International Business Times UK

Norway’s crude oil exports up 68% in March due to Iran war

Norway’s oil exports jumped significantly in March, pushing revenues to multi-year highs as disruptions from the Iran war and the closure of the Strait of Hormuz drove up prices.

Euronews

'Xi will give me big, fat hug': Trump says he opened Hormuz for China ... 'and the world'

President Trump claims China is pleased with his decision to permanently open the Strait of Hormuz, stating he's acting for their benefit and the world's. He asserts China has agreed to cease weapon shipments to Iran and anticipates a warm reception from President Xi during an upcoming visit, highlighting smart…

The Times of India

Europe's Jet Fuel Shortage Could Ground Flights Within Weeks — Summer Holidays Plans In Jeopardy?

The Airport Council International warned the EU of a potential jet fuel shortage due to Middle East tensions, which would disrupt summer travel and have severe economic repercussions.

International Business Times UK

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'China's Nostradamus' Predicts US Will Lose Ground Invasion This Month, Ending the US Dollar Dominance

A YouTube theorist known as 'China's Nostradamus' claims the US will invade Iran this month, lose a grinding ground war and trigger the end of the dollar's global dominance.

International Business Times UK

Hormuz strait part of Iran’s territorial waters, closure because of conditions imposed: Iran

Amidst US-Iran peace talks, Iran asserts the Strait of Hormuz's closure is a response to imposed conditions, not a blockade. The embassy stated Iran is exercising its sovereign right to manage the waterway, which it claims is part of its territorial waters and was open before the war.

The Times of India

US sets new terms ahead of next Iran talks in Pakistan: Report

The US has reportedly set two conditions for upcoming peace talks with Iran in Pakistan: the full reopening of the Strait of Hormuz with reciprocal measures, and the Iranian delegation needing full authority from the Revolutionary Guard. These demands follow a previous instance where officials reportedly hindered negotiations. Both nations…

The Times of India

Virgin Atlantic hikes fares by up to £360 as fuel costs soar amid Iran war

The chief executive says that tensions in the Middle East are keeping jet fuel costs high, with further fare rises possible in the coming months

Evening Standard

Will oil prices ever truly go back to ‘normal’?

The fallout from war between the United States, Israel and Iran has dominated global oil markets. And not just because the Strait of Hormuz, which normally carries about 20% of global oil and gas, remains effectively closed to shipping traffic.

The Conversation

US Navy destroyer intercepts two oil tankers trying to leave Hormuz; orders them to turn back

A US Navy destroyer intercepted two oil tankers leaving Iran, marking the initial phase of a US-declared blockade aimed at pressuring Tehran. Despite the blockade, some Iran-linked vessels reportedly transited the Strait of Hormuz. Experts caution about the blockade's effectiveness and warn of potential escalation and retaliation from Iran.

The Times of India

Strait of Hormuz: Why the US and Iran are sailing in very different legal waters

The Strait of Hormuz exists in the eye of the beholder.

The Conversation

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International Business Times UK

Donald Trump Naval Blockade Faces Scrutiny as Tankers Cross Strait of Hormuz Unhindered

Donald Trump's proposed Strait of Hormuz blockade faces scrutiny as tankers continue unhindered, raising legal, economic and geopolitical concerns.

Barchart

Crude Prices Fall on Hopes Diplomacy Can End US-Iran War

May WTI crude oil (CLK26 ) on Tuesday closed down -7.80 (-7.87%), and May RBOB gasoline (RBK26 ) closed down -0.0765 (-2.46%). Crude oil and gasoline prices fell sharply on Tuesday in hopes that the US and Iran would extend peace negotiations. Crude prices extended their losses on Tuesday after...

Euronews

Diplomats try to arrange second round of US-Iran talks during first day of American blockade

An initial round of talks aimed at permanently ending the conflict failed to produce an agreement last weekend. The White House said Iran’s nuclear ambitions were a central sticking point.

The Times of India

Ships cross Hormuz despite US blockade: Trackers vs US military claims

Maritime tracking data indicates Iran-linked vessels transited the Strait of Hormuz despite a US naval blockade, with at least three ships reportedly crossing. However, the US military insists the blockade remains effective, stating six merchant vessels were forced to turn back.

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International Business Times UK

Iran Uses AI to Mock Donald Trump as 'Jack Sparrow' in Savage Strike Against US Naval Presence

Iran's embassy in Zimbabwe has shared an AI 'Pirates of the Caribbean'-style poster turning Donald Trump into a pirate, mocking US naval activity near the Strait of Hormuz and dubbing America the 'United States of Pirates'.

Barchart

US-Iran Peace Hopes Hammer Crude Oil Prices

May WTI crude oil (CLK26 ) today is down -5.69 (-5.74%), and May RBOB gasoline (RBK26 ) is down -0.0822 (-2.64%). Crude oil and gasoline prices are sharply lower today in hopes that the US and Iran will extend peace negotiations. Crude prices extended their losses today after the US...

The Times of India

China-linked tanker that tested US blockade of Hormuz makes U-turn

A US-sanctioned tanker, the Rich Starry, linked to China, appeared to reverse course in the Gulf of Oman after transiting the Strait of Hormuz. Its movements are closely watched as a test of President Trump's naval blockade, with another tanker, Elpis, also showing unusual activity near Iran.

Euronews

Energy prices set to rise as last Gulf Tankers reach Europe, analysts say

Energy analysts have warned of surging energy prices beyond already elevated levels, as the last vessels carrying oil and natural gas from the Strait of Hormuz before the conflict have reached Europe. Supply forecasts for oil and gas remain optimistic as US deliveries are expected.

International Business Times

IEA Warns Of Oil Demand Decline As Strait Of Hormuz Crisis Reshapes Global Outlook

The IEA says escalating tensions in the Middle East and restricted flows through the Strait of Hormuz are weighing heavily on global consumption forecasts.

The Conversation

US naval blockade of Strait of Hormuz: what it involves and the risks attached

A US-sanctioned tanker with links to China, the Rich Starry, has transited the Strait of Hormuz, despite the US blockade of the waterway. According to the respected maritime news and intelligence agency Lloydslist, the Rich Starry is falsely registered in Malawi, but is Chinese owned and carrying a Chinese crew.…

Radio France Internationale

Blockade on Iranian ports must be lifted, French foreign minister tells RFI

In the wake of the US blockade on Iranian ports, France’s Foreign Minister Jean-Noël Barrot has called for freedom of navigation in international waters to be respected. He spoke to RFI about France's proposal for a peaceful, multinational mission to secure navigation in the Strait of Hormuz and the necessity…

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