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The Latest Breaking News from the Strait of Hormuz

Crude Oil Prices Supported as Hormuz Closure Tightens Global Supplies

June WTI crude oil (CLM26 ) today is up +0.50 (+0.49%), and June RBOB gasoline (RBM26 ) is down -0.0340 (-0.92%). Crude oil and gasoline prices are mixed today, with crude posting a 1-week high. The ongoing closure of the Strait of Hormuz is tightening global oil supplies and supporting...

Barchart

Trump says no need for China's help on Iran as shippers seek passage through Hormuz

President Donald Trump states no help is needed from China to end the Iran war. He believes the US will win the conflict. Iran is firming its control over the Strait of Hormuz. US and Iran demands to end the war remain far apart. A Chinese supertanker is attempting to…

The Economic Times

Oil stocks drain at record pace as IEA warns of renewed price swings

The International Energy Agency says the oil market is likely to remain in deficit until the final quarter of the year, as disruptions at the Strait of Hormuz continue to constrain supply, increasing the risk of renewed price volatility.

Euronews

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Iran Has Managed To Regain Access To Most Of Its Underground Facilities Amid Ceasefire: Report

Iran has reportedly regained access to most of its underground facilities, including missile launchers, including in the Strait of Hormuz, according to a new report.

International Business Times

EU considers running undersea cable under the North Pole to link Europe to Asia — Polar Connect aims to bypass the Strait of Hormuz and Russia by 2030

The EU is planning an undersea cable that goes under the North Pole to connect to Asia. This route avoids geopolitical hotspots like the Red Sea and the Persian Gulf but will have to weather the harsh Arctic.

Tom’s Hardware

Why are oil prices down and gas rates steady today, and will Brent crude, US WTI futures, Dutch and British natural gas prices rise or decline in near future? Oil dips as markets watch Iran ceasefire, Trump-Xi China summit and Strait of Hormuz risks

Why are oil prices down and gas rates steady today, and will Brent crude, US WTI futures, Dutch and British natural gas prices rise or decline in near future? Oil slipped after a three-day rise while gas stayed stable as markets tracked Iran ceasefire risks and the Trump-Xi China summit.…

The Economic Times

China calls on Pakistan to strengthen diplomatic efforts in Iran–US dialogue

China on Tuesday urged Pakistan to intensify its diplomatic mediation efforts in facilitating dialogue between Iran and the United States, as tensions around the Strait of Hormuz continue to raise economic concerns.

The Times of India

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Fire or ice: Why a ceasefire in the Gulf cannot hold

As the specter of renewed conflict between the US and Iran looms, the Strait of Hormuz stands at the center of this brewing storm. A fresh clash could erupt, either plunging the world into a major wartime scenario or extending a tense cold war. The repercussions could be drastic, disrupting…

The Economic Times

High airfares and fuel costs may disrupt summer travel, airports body warns

Rising airfares and elevated jet fuel costs are prompting airlines to reduce flights, potentially disrupting summer travel plans. The Airports Council International warns that higher ticket prices are dampening passenger demand, with no immediate relief in sight. This situation is exacerbated by disruptions around the Strait of Hormuz, impacting fuel…

The Economic Times

China urges Pakistan to step up Iran-US mediation: Chinese media

China is pushing Pakistan to boost its role in mediating talks between Iran and the United States. This comes as discussions focus on stability in the Strait of Hormuz. Meanwhile, a US Senator has voiced doubts about Pakistan's neutrality. These concerns arise from reports of Iranian military aircraft being allowed…

The Economic Times

'Bing. Bing. Gone.' Trump Shares AI Laser Attack Images on Iran as Pentagon Tech Official Posts Matching Message

Donald Trump shared an AI-generated image of a US warship using laser weapons against Iranian targets, sparking debate amid ongoing tensions in the Strait of Hormuz.

International Business Times UK

Oil Price Today (May 13): Crude oil snaps 3-day fall ahead of Trump’s China visit. What are experts saying?

Oil prices dipped after a three-day climb as investors monitored the fragile Iran ceasefire and an upcoming U.S.-China summit. The Strait of Hormuz remains effectively shut, impacting global supply and raising inflation concerns, with analysts warning of further price surges if disruptions persist.

The Economic Times

With ceasefire talks stalled, Trump and Hegseth claim 'control' over Iran and Strait of Hormuz

Kuwait alleges Iran attempted an attack on Bubiyan Island. This incident occurs as U.S. President Trump visits China. Tensions are high in the Persian Gulf. Israel has deployed air defense to the UAE. The Strait of Hormuz remains a critical point of contention. Norway reports stranded vessels due to shipping…

The Economic Times

Australian spy plane to aid Hormuz shipping mission

A defensive effort to safeguard shipping in the Strait of Hormuz will be aided by an Australian E-7A Wedgetail as part of a global mission.

AAP

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Barchart

Crude Oil Prices Surge on Concern Over Prolonged Closure of Hormuz

June WTI crude oil (CLM26 ) on Tuesday closed up +4.11 (+4.19%), and June RBOB gasoline (RBM26 ) closed up +0.0979 (+2.72%). Crude oil and gasoline prices settled sharply higher for a second day on Tuesday after President Trump cast doubt over the ceasefire with Iran, which could lead to...

The Independent UK

Trump brushes off Iran war’s cost at home: ‘I don’t think about Americans’ financial situation’

President’s stunning admission comes as American struggle with surging inflation and record gas prices as a result of the continued blockade of the Strait of Hormuz

Fortune

India brings back COVID-era work-from-home rules and asks farmers to halve fertilizer use as the Iran war chokes its oil lifeline

India is particularly exposed to the Iran oil shock as 50% of its crude oil imports pass through the Strait of Hormuz.

The Economic Times

EU says could expand naval mission to Strait of Hormuz

EU's top diplomat Kaja Kallas indicated the bloc may expand its Red Sea naval mission, Operation Aspides, to include the Strait of Hormuz post-Iran war. This potential extension aims to secure vital shipping lanes, with some nations already pledging additional vessels to bolster the mission's capabilities.

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Barchart

Crude Oil Prices Rally on Doubts Over US-Iran Ceasefire

June WTI crude oil (CLM26 ) today is up +3.95 (+4.03%), and June RBOB gasoline (RBM26 ) is up +0.1110 (+3.08%). Crude oil and gasoline prices are moving sharply higher today after President Trump cast doubt over the ceasefire with Iran, which could lead to the escalation of hostilities that...

The Times of India

'Overplayed its hand before': Iran bets Trump will blink first - will the gamble work?

Iran is betting it can outlast President Trump's term in high-stakes negotiations, employing brinkmanship and economic pain tolerance. Analysts warn this strategy, centered on weaponizing the Strait of Hormuz, risks escalating into renewed war if Iran overplays its hand.

Euronews

Qatar warns Iran against weaponising Hormuz to 'blackmail' Gulf countries

Qatar warned Tehran on Tuesday against using the Strait of Hormuz as a "weapon" to hold Gulf states to ransom, as Doha and Ankara backed ongoing mediation efforts to end the Iran war and restore access to the vital waterway.

The Economic Times

India 10-year bond yield hits 5-week high on rising oil and war jitters

Hopes for a deal dimmed after Donald Trump said ‌a ceasefire with ⁠Iran was "on ⁠life support". Concerns about oil supply deepened after a senior officer in Iran's Islamic Revolutionary Guard Corps Navy said Tehran had expanded its definition of the Strait of Hormuz into a "vast operational area" far…

The Times of India

The superpower trap: Xi, Trump, and the myth of American decline

President Trump's China visit occurs amid a US-Iran stalemate, with analysts suggesting Xi Jinping holds more leverage. Many in Beijing view Trump as a symptom of liberal democracy's instability and American decline, validating Xi's "rise of the East" worldview. This perception of US weakness could lead China to miscalculate and…

Euronews

Global trade’s next top priority: Bypassing the Hormuz chokepoint

Global shipping firms are redesigning trade routes as tensions in the Strait of Hormuz disrupt supply chains, raise costs and expose the vulnerability of global commerce to geopolitical conflict.

The Conversation

How big oil companies can slow the green transition by suing governments that ban fossil fuels

The UN’s climate summit in Brazil did not produce a fossil fuel roadmap last November, as had been expected. Now the closure of the Strait of Hormuz has exposed the fragility of global dependence on fossil fuels.

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