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BIZARRE: 29 - You Need To See This

Iran will reopen Strait of Hormuz and can sell oil freely under deal with US, according to leaks

Iran will immediately take steps to reopen the Strait of Hormuz once a tentative deal with the U.S. to end the war is signed and will be allowed to sell its oil without restrictions

AAP

'We'll go back to shooting' if Trump sours on Iran deal

G7 leaders have welcomed the US-Iran ceasefire deal, but President Donald Trump is threatening to resume bombing if Iran doesn't "behave".

AAP

Trump vows to reimpose US sanctions on Russian crude 'soon' as truce with Iran takes shape

President Trump announced that the US will soon reimpose sanctions on Russian oil, citing eased global supply concerns due to resumed flows through the Strait of Hormuz after a deal with Iran. This shift in focus allows Washington to concentrate more on the Ukraine war, as G7 leaders discuss further…

The Economic Times

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IEA sees gradual Hormuz recovery tipping into significant 2027 surplus

The global oil market is set for a gradual recovery. The Strait of Hormuz will reopen following a US-Iran agreement. This ends a major oil supply disruption. The International Energy Agency predicts a significant oil surplus by 2027. Millions of barrels of Middle East oil output will return to the…

The Economic Times

Oil falls below $80 as OECD oil reserves drop to lowest level since 1990

Oil prices fell below $80 per barrel as markets grew increasingly confident that the effective closure of the Strait of Hormuz is coming to an end. This comes as strategic oil reserves in advanced economies have fallen to their lowest level since 1990, according to the IEA.

Euronews

Iran now has powers to shut Strait of Hormuz at will, US Intel report says

Iran can now control the Strait of Hormuz, a critical global waterway. This ability poses a significant threat to global economies. US intelligence agencies have revealed this assessment. The situation remains uncertain, with potential impacts on shipping traffic for weeks or months. President Trump plans to release the agreement text…

The Economic Times

Oil tankers u-turn, head back to Middle East as Hormuz reopening nears

In a strategic pivot, two oil tankers are heading toward the Middle East in expectation of the Strait of Hormuz’s reopening. Shipowners are gearing up for a bustling uptick in maritime commerce, as this vital corridor is on track to become operational again.

The Economic Times

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US-Iran deal should see oil and LNG begin to flow again… slowly

US President Donald Trump hailed the deal ending the US-Israel war with Iran with a triumphant message: “Ships of the World, start your engines. Let the oil flow!” he wrote on his online social media platform.

The Conversation

No Hug, Just Handshake: Modi’s Silent Message to Trump

Diplomacy is often communicated through words, but sometimes the strongest messages are delivered without saying a single sentence. At the G7 Summit 2026, Prime Minister Narendra Modi's brief handshake with US President Donald Trump grabbed global attention. The moment stood out because it broke a familiar pattern. For years, Modi's…

MyLifeXP

No nuclear weapon, conditional relief & open Hormuz: Vance outlines 3 pillars of Iran peace framework

US Vice President JD Vance described that the peace agreement between Washington and Tehran stands centred on three key pillars-- preventing Iran from acquiring a nuclear weapon, ensuring the Strait of Hormuz remains open and offering economic incentives to Iran if the country "transforms" itself.

The Economic Times

White House talking points claim victories in initial Iran deal but often don't meet reality

The White House has informed supporters of President Trump's alleged victories in the Iran conflict, claiming Iran will not develop nuclear weapons and the Strait of Hormuz has reopened. However, details of the agreement remain secret, causing confusion and skepticism among allies and lawmakers, with some claims contradicting on-the-ground realities.

The Economic Times

Oil Price Today (June 17): Crude oil dips below $80, near 3-month low ahead of US-Iran agreement. Will liquid gold fall more?

The interim agreement, expected to be signed on Friday, would grant Tehran significant economic incentives, including the immediate ability to resume oil sales.

The Economic Times

PM Modi, Trump to discuss West Asia crisis, energy partnership, trade deal on sidelines of G7 Summit: Sources

Prime Minister Modi and President Trump are set to discuss West Asia tensions, the Strait of Hormuz, and a bilateral trade agreement during their G7 meeting. Both nations aim to build a long-term energy partnership amid global supply chain concerns. The trade deal is reportedly in its final stages, with…

The Economic Times

Brent climbs to $79.43 as traders weigh durability of US-Iran peace deal

Oil prices edged higher as investors assessed the implications of a potential U.S.-Iran peace deal and the reopening of the Strait of Hormuz. While an interim agreement was announced, details remain scarce, and a full return to pre-war production levels is expected to take considerable time, adding to market uncertainty.

The Economic Times

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The Economic Times

Why are oil prices down while gold and silver prices up today? Reasons behind crude oil fall, precious metals rally, analyst insights and market outlook

Why are oil prices down while gold and silver prices up today? Oil prices fell to a three-month low as hopes grew that the Strait of Hormuz could reopen under a proposed U.S.-Iran agreement. At the same time, gold and silver prices moved higher because lower oil prices reduced inflation…

France 24

Can Hormuz be bypassed? Past shows commercial viability may simply not be there, analyst says

On Tuesday, leaders at the G7 summit in Evian-les-Bains were seeking to identify alternative routes to bypass the Strait of Hormuz, which US President Donald Trump said would be "completely open" on Friday. Speaking with FRANCE 24's Sharon Gaffney, Maisoon H Kafafy, Senior Advisor to the Atlantic Council's Middle East…

France 24

Trump suggests US can swiftly reimpose sanctions on Russian oil

As the war in Ukraine took centre stage at the G7 summit in the French town of Evian, US President Donald Trump said Moscow should make peace with Kyiv and suggested that the US could bring back sanctions on Russian oil, now that the Strait of Hormuz is expected to…

International Business Times UK

Trump 'Ready to Fire' Pete Hegseth and Top Pentagon Officials Who Stood Against Historic Iran Deal

Donald Trump considers dismissing key cabinet members over opposition to his Iran ceasefire deal, highlighting internal divisions and reshaping US foreign policy dynamics.

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The Times of India

‘Weapon more powerful than any nuke’: Iran can shut Strait of Hormuz again, US intelligence warns

Iran now possesses the capability to effectively shut down the Strait of Hormuz, a critical global oil and gas route, according to US intelligence. This development comes despite an upcoming peace agreement aimed at reopening the waterway. Concerns persist over Iran's military arsenal and its potential to use the strait…

The Mary Sue

Trump Claims He Is in the Final Throes of a Regional Peace Deal, Then Strikes Iran Over a Downed Helicopter

In response, the IRGC launched strikes on U.S. bases in Bahrain, Kuwait, and Jordan.

The Economic Times

SEEPCO supplies 6 million barrels of Nigerian crude to Indian refiners

Amidst West Asia crisis concerns, India's state-run refiners diversified oil supplies by sourcing nearly six million barrels from Nigeria's SEEPCO between March and May 2026. This move, utilizing crude from SEEPCO's Okwuibome field, bypassed the Strait of Hormuz, bolstering India's energy security during global uncertainty.

The Times of India

US used Iran-style covert transfers to move 90 million barrels of oil out of Gulf: Report

The U.S. has reportedly established a covert offshore oil-transfer network near the Strait of Hormuz, mirroring Iran's tactics to maintain Gulf crude exports. This operation, involving ship-to-ship transfers off Oman and the UAE, aims to circumvent Tehran's blockade of the vital waterway. While enabling continued exports, the network's reliance on…

Evening Standard

Financials lift FTSE 100 as oil heads below 80 dollars

US President Donald Trump said the Strait of Hormuz would ‘completely open’ once Washington DC and Iran sign their peace agreement.

Euronews

Qatar 'cautiously optimistic' on US-Iran framework deal before Friday's signing

Qatar said the framework agreement to be signed on Friday was a first step rather than a final settlement, adding that it would take time to return to "business as usual" even once the Strait of Hormuz reopens. Trump separately praised Qatar's mediating role and its "great bravery".

France 24

How can a joint France-UK mission help restart shipping in the Strait of Hormuz?

A joint France and UK-led naval mission is ready to deploy to the Strait of Hormuz following an interim agreement between the US and Iran to end the Middle East war. Backed by around 20 countries, the mission aims to draw on widespread logistical know-how and resources to help clear…

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