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UNCOVERED: 13 - The Untold Story

Why Hormuz windfall may prove short-lived for oil refiners

Global refining margins have hit record highs, greatly benefiting producers. Yet, while fuel prices remain elevated due to tight inventories, this lucrative period for refiners may soon come to an end as crude prices are anticipated to rise.

The Economic Times

'Bending rules, bullying rivals': Iran uses World Cup to mock US - top developments

Iranian President Masoud Pezeshkian took a swipe at the United States by comparing its role as host of the 2026 FIFA World Cup to its foreign policy, accusing Washington of "bending rules, bullying rivals, creating obstacles, and cheating".

The Times of India

US and Iran threaten return to war after fiercest exchange of fire since truce

Ceasefire appears close to unravelling after three commercial vessels are hit and two militaries target each other

The Guardian - UK

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US strikes Iran after Hormuz tanker attacks: military

WASHINGTON (UNITED STATES) - US forces launched strikes on Iran on Tuesday after three commercial vessels were attacked in the Strait of Hormuz, the US military said, sharply escalating a confrontation that has already shaken efforts to end the Middle East war.

Bangkok Post

US launches strikes against Iran after attacks on vessels in strait of Hormuz

US Central Command says Tehran in ‘clear violation’ of ceasefire with ‘unwarranted’ attacks on commercial ships

The Guardian - US

LNG tanker at risk of exploding after two vessels struck near Strait of Hormuz

The Al Rekayyat, loaded with liquefied natural gas, sent out distress signals seeking assistance after it was hit on its port side, one of the sources said. Another source briefed on the matter said the vessel was at risk of exploding due to a fire in its engine room. The…

The Economic Times

One attack, one warning: The world's energy lifeline is still vulnerable

An attack on a Qatari LNG carrier in the Strait of Hormuz has raised concerns. This incident suggests ongoing threats to commercial shipping in the vital waterway. Energy markets may face potential repeated disruptions rather than widespread conflict fears. The dispute over Hormuz control remains unresolved, impacting global energy supplies.

The Economic Times

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Saudi Arabia mulls big new plan, eyes post-war oil route reset to bypass volatile Hormuz

Saudi Arabia is considering expanding its crude oil pipeline capacity. This move aims to bypass the Strait of Hormuz for exports. Neighbouring countries like Kuwait are also in talks for pipeline access. The expansion could accommodate an additional two million barrels daily.

The Economic Times

The likely loser in Gulf's post-war race for oil market share

United Arab Emirates is leading oil producers in a fierce market share battle. Saudi Arabia and other Gulf nations are increasing exports significantly. Exporters are offering steep discounts to attract buyers for their surplus crude. This aggressive push has weakened oil prices and challenged OPEC's authority.

The Economic Times

One tycoon makes millions from 'dark' journeys on a dangerous oil route while others feared Hormuz

Amidst the Persian Gulf war, the UAE secretly navigated its oil exports through the Strait of Hormuz using 'dark' ship transits. Korean shipping tycoon Ga-Hyun Chung's Sinokor Group played a pivotal role, leasing a significant portion of vessels for these risky "shuttle runs." This covert operation allowed the UAE to…

The Economic Times

OPEC+ Agrees To Raise Output Even as Hormuz Shipping Security Remains Uncertain

OPEC+ members agreed to raise their collective oil‑production quotas from August even as crude shipments through the Strait of Hormuz remain uncertain.

Benzinga

Iran seeks to tighten control over strait of Hormuz alongside Khamenei funeral

IRGC warnings force ships in strait to turn back as Tehran uses passages from Qur’an to send messages to Gulf delegations

The Guardian - UK

TotalEnergies CEO: Energy Markets Will Take Months To Rebalance With Ongoing Hormuz Shipping Risks

Global energy markets may take as many as four months to rebalance, with gasoline and diesel inventories still constrained by shipping worries in the Strait of Hormuz, TotalEnergies SE Chief Executive Patrick Pouyanné said on Saturday.

Benzinga

'Crisis-makers to be accountable': Iran warns UK, France against military presence in Strait of Hormuz

"The Strait of Hormuz is not a theater for the military display of extra-regional powers. Iran, as the responsible power and guarantor of the Strait's security, warns with sensitivity to any military movement in this waterway. The security of Hormuz lies with the coastal states; the crisis-makers will be held…

The Times of India

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The Economic Times

June: 10 mbpd, May: 3 mbpd: Gulf oil exports up, but 40% below pre-war level

Gulf oil exports surged past 10 million barrels daily in June, a significant jump from May, thanks to US military efforts securing the Strait of Hormuz. The UAE spearheaded this recovery, enabling millions of barrels to reach global markets and helping to stabilize oil prices. Despite this rebound, exports remain…

The Guardian - UK

UK service sector shrinks amid Iran war disruption and heatwave; FTSE 100 hits four-month closing high – business live

Rolling coverage of the latest economic and financial news

The Independent UK

FACT FOCUS: Iran claims a foreign ship got stuck in Strait of Hormuz. But it is tied to Tehran

Iranian state television claimed this week that a foreign ship got stuck in the Strait of Hormuz after ignoring instructions to use a route laid out by the Islamic Republic’s paramilitary Revolutionary Guard

Evening Standard

‘Positive progress’ in US-Iran talks despite Strait of Hormuz strikes

Donald Trump claims ship numbers using a vital waterway is ‘setting records’, but this is not reflected by maritime monitoring.

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Euronews

Ship runs aground in Hormuz as Iran insists on controlling the strait

Iran's IRGC said the grounding was caused by the vessel straying from its approved corridor. Hormuz control and the Israeli intervention against Hezbollah in Lebanon remain the two main obstacles to a final deal.

The Times of India

'Neither side thinks they've lost': Iran determined to keep Hormuz control, even by force

Iran is determined to secure international recognition of its control over the Strait of Hormuz and the right to charge ships for passage, even if it has to use force to achieve it, two senior Iranian sources said, as reported by Reuters.

The Guardian - UK

US-Iran talks over $6bn Iranian assets to restart

Two sides yet to have face-to-face meeting since signing deal to reopen strait of Hormuz

The Times of India

Hormuz, Suez, Taiwan Strait: Why the world’s supply chains now need war-room planning

Global supply chains face unprecedented threats as maritime chokepoints become geopolitical battlegrounds. The US-Iran conflict highlighted how disruptions in vital waterways like the Strait of Hormuz and Bab el-Mandeb trigger widespread economic fallout, from soaring freight rates to increased inflation. Other critical routes, including the Suez, Taiwan, Malacca, and Panama…

The Economic Times

Oil finds its way: Supertankers return to Persian Gulf

Supertankers are once again navigating the Strait of Hormuz, a crucial oil route, following a period of disruption due to recent Iran conflict. Shipping data indicates a significant increase in commodity vessel traffic, including oil tankers, signalling renewed confidence among shipowners. This return of large carriers, with a combined capacity…

The Guardian - UK

Iran is jealously competing with Oman as decision-maker over strait of Hormuz

Tehran believes it should control the shipping route but its neighbour has its own plans for reopening it

The Guardian - UK

Trump claims Iran has agreed to hold peace talks in Doha after recent clashes

US president posts that meeting will take place on Tuesday in Qatari capital after exchange of fire in strait of Hormuz

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