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The Latest Breaking News from the Strait of Hormuz

Oil Price Today (May 15): Crude oil above $105 as Iran war resolution stagnates. Where is liquid gold headed?

Oil prices climbed Friday amid fears of ship attacks and seizures, despite Iran's claims of safe passage through the Strait of Hormuz. Traders are also watching US-China trade talks closely. Geopolitical tensions remain high, with disruptions significantly tightening global oil supplies and potentially impacting prices until late 2027.

The Economic Times

Oil rises as fears of ship attacks and seizures persist

Oil prices saw an increase on Friday. Market worries persist regarding ship attacks and seizures. Iran stated many vessels passed through the Strait of Hormuz. U.S. and Chinese presidents continued their discussions in Beijing. A ship was reportedly seized off the United Arab Emirates. The U.S. and China agreed on…

The Economic Times

West Asia War: Ship reported seized off UAE as Trump discusses Iran with Xi

A ship was seized by Iranian personnel near the UAE. US President Trump and Chinese President Xi Jinping agreed on keeping the Strait of Hormuz open. An Indian cargo vessel was sunk off Oman. Iran is making deals for ships to pass through the strait. Iran's Judiciary Spokesperson stated seizures…

The Economic Times

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Iran permits 30 vessels to pass through Strait of Hormuz overnight; Hezbollah strikes Israel - top developments

Iran’s Revolutionary Guards said around 30 ships had crossed the Strait of Hormuz with Tehran’s permission since Wednesday evening, signalling a limited easing of restrictions on one of the world’s most important energy routes. Iranian media reported that several Chinese vessels were among those allowed through after what officials described…

The Times of India

Iran is threatening undersea cables. The world’s ‘digital chokepoints’ have never been more vulnerable

Early this week, Iranian state-linked media floated a plan to charge the operators of undersea internet cables in the Strait of Hormuz for access to what they say is Iran’s offshore territory.

The Conversation

Ilhan Omar Says Trump's Cognitive Decline Has Been Visible "For a Very Long Time"

Rep. Ilhan Omar said President Donald Trump's apparent cognitive decline has been visible "for a very long time," sharpening one of her most personal criticisms of the president just as he headed into a high-stakes trip to China dominated by the Iran war, the Strait of Hormuz and fears of…

Latin Times

Trump says Xi vowed not to arm Iran, offered help to open Hormuz

US President Donald Trump has said that Chinese President Xi Jinping had offered China’s help to reopen the Strait of Hormuz and pledged not to provide military equipment to Iran amid its war with the United States and Israel.

The Times of India

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Xi tells Trump that mishandling of Taiwan could spark conflict

Chinese President Xi Jinping met with US President Donald Trump for trade talks. Xi Jinping stated that trade negotiations were progressing positively. However, he issued a strong warning regarding Taiwan, emphasizing that disagreements over the island could lead to a dangerous path and potential conflict between the two nations. The…

The Economic Times

Crude Oil Prices Slip on Dollar Strength

June WTI crude oil (CLM26 ) today is down -0.19 (-0.19%), and June RBOB gasoline (RBM26 ) is down -0.0534 (-1.48%). Crude oil and gasoline prices are under pressure today from a rally in the dollar index ($DXY ) to a 2-week high. Also, signs that OPEC+ may boost its...

Barchart

A tiny oil lifeline reopens through tense Hormuz after months of chokehold

More oil tankers are navigating the Strait of Hormuz. This offers some relief to the global oil market. Several ships carrying crude oil have exited the waterway recently. Some vessels are traveling with their satellite signals off. This makes tracking difficult. Iran has allowed Chinese ships to pass. Other oil…

The Economic Times

New Attacks in Hormuz

Plus: a different type of pizzagate, Kevin Warsh as the new Jerome Powell, and more...

Reason

U.S. And China Agree That Strait Of Hormuz Should Not Be Militarized, Rubio Says

Secretary of State Marco Rubio said the U.S. and China agreed on the notion that the Strait of Hormuz should not be militarized as Iran seeks to control the key waterway amid the war.

International Business Times

World markets rise on Trump-Xi summit hopes

Trump and Xi met at the Great Hall of the People in Beijing, where both sides agreed the Strait of Hormuz must remain open, a key demand as the Iran war drags into its third month.

Euronews

How the world can avoid millions going hungry when supply chains collapse

Millions more people will face hunger in the coming months if the conflict in the Middle East is not resolved soon, the UN has warned. The price of energy, which instantly affects the cost of producing and transporting food, has risen sharply due to the closure of the Strait of…

The Conversation

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Euronews

Ship seized near UAE coast headed for Iranian waters, UK maritime agency says

A ship has been taken near the UAE coast and is headed for Iranian waters, the UK's UKMTO said, in the latest vessel seizure around the Strait of Hormuz.

The Economic Times

Two India-bound LPG tankers transit through Strait of Hormuz amid US-Iran war

Two ships carrying cooking fuel have successfully passed through the Strait of Hormuz. These vessels are heading towards India. This marks an increase in such passages recently. Several other large ships carrying oil, fuel, and gas have also navigated the strait. Some vessels are still near a US blockade line.…

The Independent UK

Iran regime has ‘gun to our head’ over Strait of Hormuz, says former CIA boss

Leon Panetta warns that President Donald Trump may have bitten off more than he can chew and that a conflict he assumed could be won in weeks will in fact drag on for months

Euronews

Jet fuel crisis: How to travel to Spain without taking a plane as flight prices soar

Tension in the Strait of Hormuz is making jet fuel more expensive and has put air travel in a bind. Now a new debate has arisen: how you can travel to Spain without a plane. We analyse and note all the options available.

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The Economic Times

Oil Price Today (May 14): Crude oil above $105 per barrel. Here’s why Trump-Xi meeting is important for Strait of Hormuz

Oil prices edged higher as investors awaited talks between U.S. President Trump and Chinese President Xi Jinping, focusing on economic gains and geopolitical issues like the Iran war. Despite concerns over interest rate hikes, crude futures saw slight increases, with analysts warning of potential price surges if the Strait of…

The Economic Times

Quote of the day by Simone Weil: 'Petroleum is a more likely cause of international conflict than...' – French philosopher and mystic's warning on global conflict, power, energy politics and how oil drives war and the economy

Quote of the day by Simone Weil: Simone Weil's observation that petroleum is a more likely cause of international conflict than wheat highlights its critical role in modern economies and geopolitical power. The current Iran conflict demonstrates this, with disruptions in the Strait of Hormuz impacting global oil supply, driving…

The Economic Times

India-bound LPG tanker MV Sunshine crossing Strait of Hormuz; Indian Navy, agencies provide all support: Sources

The India-bound LPG tanker MV Sunshine is safely navigating the Strait of Hormuz. The Indian Navy is providing support for its secure passage. Iran's Deputy Foreign Minister stated that peace in the Strait of Hormuz would improve safety. He also mentioned that Iran welcomes any Indian initiative to reduce regional…

Barchart

Crude Oil Prices Erase Early Gains as the Dollar Strengthens

June WTI crude oil (CLM26 ) ton Wednesday closed down -1.16 (-1.14%), and June RBOB gasoline (RBM26 ) closed down -0.0790 (-2.14%). Crude oil and gasoline prices settled lower on Wednesday, with crude oil falling from a 1-week high. Wednesday's rally in the dollar index ($DXY ) to a 1.5-week...

The Economic Times

Iran Foreign Minister Araghchi begins 3-day India visit

Iran's Foreign Minister Abbas Araghchi is in New Delhi for crucial BRICS talks, focusing on the escalating West Asian crisis and its impact on global energy. He will hold bilateral discussions with India's S Jaishankar, likely addressing the Strait of Hormuz. The meeting, hosted by India, aims to foster dialogue…

The Economic Times

Iran says BRICS unable to reach consensus on West Asia conflict due to UAE stance

Iran's Deputy Foreign Minister Kazem Gharibabadi stated the UAE is hindering BRICS consensus on the West Asia conflict. He expressed Iran's openness to Indian peace initiatives in the region. Gharibabadi mentioned Iran and Oman are developing a new framework for merchant vessels in the Strait of Hormuz. He also noted…

The Economic Times

Iran seeks India’s role in West Asia peace efforts ahead of BRICS meet; plans new Hormuz shipping framework

Iran welcomes India's efforts to bring peace to West Asia. The nation is creating a new framework for ships passing through the Strait of Hormuz. Iran stated that a BRICS member's demand to condemn it has prevented a unified stance. India's impartiality as BRICS chair is appreciated. Iran is committed…

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