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The Latest Breaking News from the Strait of Hormuz

Oil Price Today (May 8): Crude oil snaps three-day losing streak as Iran-US clashes stoke Hormuz fears. What are experts saying?

Oil prices surged over 1% as renewed U.S.-Iran clashes raised concerns about the Strait of Hormuz's stability, disrupting hopes for its reopening. Iran accused the U.S. of breaching a ceasefire, while Washington cited retaliation for Iranian forces firing on its vessels. Despite recent losses, the conflict's escalation could significantly impact…

The Economic Times

US, Iran weigh 30-day ceasefire plan, reopening Strait of Hormuz; n-talks still in limbo

Iran and the US are reportedly in talks for a temporary truce, aiming to reopen the Strait of Hormuz and pave the way for broader nuclear negotiations. A 30-day pause in hostilities is proposed, with discussions focusing on lifting shipping blockades and ending military actions. More complex issues like sanctions…

The Times of India

Global Market Today: Asian stocks drop, oil climbs on Iran tensions

Asian stocks retreated from record highs as Middle East tensions escalated, impacting crude oil prices and reviving concerns over energy supplies. US forces responded to Iranian attacks in the Strait of Hormuz, while President Trump issued a stern warning. Despite volatility, investors remain focused on de-escalation efforts and the AI…

The Economic Times

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Trump brands Iran’s leaders ‘lunatics’ after attacks on US warships in strait

The president warns Tehran the US will ‘knock them out a lot harder’ if they do not sign a deal to end the war ‘fast’

Evening Standard

'We’ll knock them out harder': Trump warns Iran of harsher military action after 3 US ships came under fire in Hormuz

President Donald Trump claimed three US destroyers were fired upon in the Strait of Hormuz but suffered no damage, stating Iranian attackers were destroyed. He issued a strong warning to Iran, threatening more violent military action if a deal is not signed quickly, calling the nation 'lunatics'.

The Times of India

The Latest: US military says it intercepted Iranian attacks on 3 Navy ships in Strait of Hormuz

The U_S_ military said Thursday that it intercepted Iranian attacks on three Navy ships in the Strait of Hormuz and “targeted Iranian military facilities responsible for attacking U_S_ forces.”

The Independent UK

Stocks Fall on Doubts About an Imminent US-Iran Peace Deal

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed down -0.38%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.63%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.12%. June E-mini S&P futures (ESM26 ) fell -0.42%, and June E-mini Nasdaq futures...

Barchart

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Hormuz technically open for ships, but risks too high, says Indian National Shipowners’ Association chief

NEW DELHI: The Strait of Hormuz remains technically open, but commercial shipping is far from normal, according to Anil Devli, chief executive of the Mumbai-based Indian National Shipowners’ Association.

The Times of India

Nasdaq Fades Late as Hormuz Tension Flares: Stock Market Today

The situation at the Strait of Hormuz is changing from day to day, even hour to hour and minute to minute.

Kiplinger

Iran wants oil tariffs paid in Chinese yuan – is the power of the US petrodollar in decline?

After weeks of blockades by Iran and the United States in the Strait of Hormuz, it’s clear the narrow waterway is now pivotal to the outcome of the conflict.

The Conversation

Trump pauses ‘Project Freedom’ in the Strait of Hormuz but warns Iran the bombing will restart ‘at a much higher level’ if talks collapse

Project Freedom – the U.S. mission to guide commercial ships through the Strait of Hormuz – has been paused, but the warning from Donald Trump is clear: if negotiations with Iran collapse, the bombing will resume “at a much higher level.” The pause was announced on May 6, 2026, as…

The Mary Sue

Crude Oil Recovers as US May Restart Operations to Reopen the Strait of Hormuz

June WTI crude oil (CLM26 ) on Thursday closed down -0.27 (-0.28%), and June RBOB gasoline (RBM26 ) closed down -0.0033 (-0.10%). Crude oil and gasoline prices closed lower on Thursday on optimism that a US-Iran peace deal is imminent. The markets await further updates after the US presented a...

Barchart

Iran war has shown the limits of US power

In his 1873 book On War, the great Prussian military strategist Carl von Clausewitz wrote that: “War is the realm of uncertainty.” He would have been at home in Washington this week where Clausewitz’s “fog of war” appears to have descended on the White House, at times obscuring reality.

The Conversation

Crude Oil Prices Pressured by Iran Peace Hopes

June WTI crude oil (CLM26 ) today is down -3.36 (-3.53%), and June RBOB gasoline (RBM26 ) is down -0.0862 (-2.49%). Crude oil and gasoline prices are sharply lower for a second day today on optimism that a US-Iran peace deal is imminent. The markets await further updates after the...

Barchart

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The Conversation

How Pakistan became the primary mediator between the US and Iran

Pakistan has emerged as a central diplomatic broker in the conflict between the US and Iran. When announcing a pause to the US operation to guide stranded vessels through the Strait of Hormuz on May 6, Donald Trump said he had made the decision “based on the request of Pakistan”.

The Independent UK

How Trump’s ‘one page memo’ could take us back to square one in Iran - after thousands of lives lost and economic ruin

The US has reportedly drafted a 14-point memo to end the war and kickstart negotiations towards a nuclear deal but several issues remain unresolved

The Independent UK

These numbers show the global impact of Iran's grip on the Strait of Hormuz

Iran’s grip on the Strait of Hormuz has jolted the world economy

Latin Times

Trump Halted Hormuz Operation After Saudi Arabia Refused Military Access - REPORT

President Donald Trump's abrupt decision to pause "Project Freedom," the U.S. military operation aimed at reopening shipping routes through the Strait of Hormuz, reportedly came after Saudi Arabia refused to allow American forces access to its airspace and military facilities, according to NBC News.

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International Business Times

U.S. Allies Reportedly Took Measures Against Washington Over Operation To Help Ships Through Strait Of Hormuz

The Trump administration cancelled its operation to help ships transit through the Strait of Hormuz despite Iran's blockade following backlash from Saudi Arabia, according to a new report.

Fortune

Yara CEO says there is only one way to respond to the crisis in the Gulf: do everything better

As tensions around the Strait of Hormuz test global supply chains, Yara International CEO Svein Tore Holsether is leaning into disruption—using technology, scale, and operational discipline to turn geopolitical risk into competitive edge

The Independent UK

Iran releases video of what it says is recon drone shot down over Strait of Hormuz

Iran has released footage of what it says is a shot down combat reconnaissance drone over the Strait of Hormuz.

Euronews

Shell profits surge as Iran war drives oil prices higher

Europe’s biggest energy company reported a jump in first-quarter profits as the war involving Iran and the effective closure of the Strait of Hormuz pushed oil and gas prices higher.

The Times of India

Middle East tensions: Iran’s response to US peace proposal expected today

Iran is reviewing a US proposal, with a response expected soon, potentially via Pakistani mediators. Tehran prioritizes a full war cessation and sanctions relief over nuclear talks, seeking UN Security Council guarantees.

Axios

Gas prices won't return to pre-war levels any time soon

Consumers have a long road ahead even if a U.S.-Iran peace deal actually happens this time.

Evening Standard

Maersk hikes shipping prices to offset cost hit from Iran war

Chief executive Vincent Clerc said the closure of the Strait of Hormuz could start impacting global trade and consumer demand.

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