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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...

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

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

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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.

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

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.

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 Economic Times

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

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

The Independent UK

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

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.

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

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: '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

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…

The Economic Times

Crude Oil Prices Erase Early Gains as the Dollar Strengthens

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...

Iran Foreign Minister Araghchi begins 3-day India visit

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

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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…

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...

The Economic Times

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…

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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.

International Business Times

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.

Tom’s Hardware

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.

The Economic Times

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 Times of India

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 Economic Times

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…

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