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The Latest Breaking News from the Strait of Hormuz

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

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'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

How mines work in warfare as Iran accused of littering Strait of Hormuz with invisible killers

The US Institute of War estimates that 10 mines have been laid in the Strait of Hormuz so far

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

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.

Axios

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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?

Euronews

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...

Barchart

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’

Evening Standard

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...

Reason

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

Oopsie!

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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.

The Independent UK

Ships declare themselves Chinese in the Strait of Hormuz to avoid attacks

At least 19 commercial ships around the region had been damaged in the war as of Thursday

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International Business Times

IEA Releases 400 Million Barrels from Reserves to Ease Energy Prices

The International Energy Agency released 400 million barrels of oil from reserves to stabilize global energy markets disrupted by the Strait of Hormuz crisis.

Newslaundry

Iran gives safe passage to India through Strait of Hormuz? ‘Sources’ jump the gun again

Here we are again. Another day, another cycle of ‘sources’ making the fog of war foggier. This time, the chatter centres on claims that Iran will grant safe passage to India-flagged tankers through the Strait of Hormuz.

Fortune

Oil went over $100 again after the U.S. admitted it cannot control the Strait of Hormuz

Oil is trading like a meme stock, some analysts say.

MyLifeXP

Why Petrol Prices Haven’t Risen Despite $100 Oil

Fuel prices influence nearly every part of daily life. From daily commuting to the cost of groceries and transportation, even a small change at the petrol pump can affect the entire economy. Recently, global oil markets witnessed a dramatic shift as crude oil prices surged close to $100 per barrel,…

Axios

Trump's limited gas-price options on Iran

Nothing will approach normal until large-scale tanker traffic through the Strait of Hormuz resumes.

Whats Hot

Iran Allows Indian-Flagged Ships Safe Passage Through Strait of Hormuz

Iran has allowed Indian-flagged vessels to safely transit the strategically crucial Strait of Hormuz, even as maritime activity through the waterway has slowed significantly following recent United States and Israeli strikes on Iran. The development was reported by The Economic Times and comes amid rising concerns over the safety of…

The Independent UK

Oil prices soar again after two tankers struck off coast of Iraq

Oil prices have surged past $100 a barrel following suspected Iranian attacks on multiple fuel tankers in Iraqi waters. Iraqi oil ports have completely ceased operations, prompting other countries to move their vessels from the area as a precaution. Iran has claimed responsibility for hitting a Thai bulk carrier yesterday,…

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