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FORGOTTEN HISTORY: 5 | History Defined

Iran-US war latest: Tehran warns Trump and Israel not to attack during Ayatollah Khamenei funeral

Iran said any attacks would be met with a ‘harsh retaliation’

The Independent UK

Iran rejects US-led Gulf security summit, says Hormuz is under its command

Iran has sharply criticized a US-led security summit in Bahrain, asserting that the Strait of Hormuz falls under Tehran's command, not American authority. Deputy Foreign Minister Kazem Gharibabadi dismissed the summit's legitimacy, stating that regional security must be managed by neighboring states without foreign military intervention. The meeting, attended by…

The Economic Times

Oil Price Today (July 2): Crude oil at $70, falls for 2nd session as US-Iran talks progress. Worst over?

Brent crude futures fell 80 cents, or 1.09%, to $70.80 a barrel, while U.S. West Texas Intermediate crude declined 90 cents, or 1.28%, to $67.75 a barrel. In the previous session, both benchmarks had dropped more than 1%, settling at their lowest levels in four months.

The Economic Times

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US-Iran talks end without breakthrough as Tehran's nuclear prowess stays off the table

Indirect talks between Iran and the US concluded without significant progress on lasting peace, focusing instead on resolved issues like maritime traffic in the Strait of Hormuz and unfreezing funds. While President Trump expressed optimism about nuclear program discussions, sources indicated this topic wasn't addressed. The next meeting is scheduled…

The Economic Times

Trade group: Jet fuel prices likely to remain elevated

Despite optimism around the US-Iran ceasefire and the reopening of the Strait of Hormuz, it will take time for jet fuel prices to return to pre-crisis levels and airfares could remain high for longer than passengers expect, says the International Air Transport Association (IATA).

Bangkok Post

'Iran's nuclear rights are non-negotiable': Iran's Parliament Speaker Ghalibaf says key commitments under MoU need to be fulfilled

Iran's Parliament Speaker Mohammad Bagher Ghalibaf declared that the nation's nuclear rights are non-negotiable and will not proceed with further talks until key commitments from a US memorandum are met. These include ending the war in Lebanon and ensuring passage through the Strait of Hormuz. Ghalibaf emphasized Iran's adherence to…

The Economic Times

US-Iran ceasefire tailored for US mid-terms, not lasting peace: Report

The ceasefire between the US and Iran has eased fears of a wider conflict and led to the reopening of the Strait of Hormuz, pushing oil prices lower. However, the truce may be tactical rather than permanent, according to analyst cited by Reuters. The underlying disputes, over Iran's nuclear program,…

The Times of India

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Why is France betting on Oman amid the Hormuz crisis?

After months of crisis in the Middle East, France is looking to build its influence in the region by strengthening relations with Oman – a small country long seen as a quiet, neutral regional player. On his first state visit to France, Sultan Haitham bin Tariq and French President Emmanuel…

France 24

Market Trading Guide: TBO Tek among 2 stock recommendations for Thursday

Domestic equities ended higher, supported by positive Asian cues and a sharp drop in crude prices following improved traffic at the Strait of Hormuz, alongside growing expectations of an imminent India–US trade deal.

The Economic Times

How Trump is Allegedly Weaponising Iran Ceasefire to Manipulate Global Oil Markets

Donald Trump is considering whether to continue negotiations with Iran or resume military strikes, amid tensions in the Strait of Hormuz affecting global oil supplies.

International Business Times UK

Why are oil prices down today, and will Brent futures and US WTI crude prices continue to fall or rise again? Iran-US talks, Strait of Hormuz recovery and US inventory data keep crude market under focus

Oil prices declined as investors watched Iran-US talks, the recovery of shipping through the Strait of Hormuz, and upcoming US inventory data. Brent futures and US WTI crude remained under pressure after recent gains faded. Analysts say supply expectations, inventory trends, and geopolitical developments will decide the next direction of…

The Economic Times

'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 Times of India

Iran insists on keeping control over Hormuz: Report

Iran is determined to gain international recognition for its control over the Strait of Hormuz, including the right to levy fees on ships. Despite an interim deal with the U.S. allowing free passage for 60 days, Tehran insists on permanent control and will not negotiate other disputes until this is…

The Economic Times

US and Iran enter technical talks to secure peace deal, restart shipping

Technical discussions between the U.S. and Iran are underway in Doha, aiming to secure the Strait of Hormuz shipping lanes and a lasting ceasefire. Mediated by Qatar and Pakistan, the talks follow a recent interim accord, though disagreements persist. Iran seeks recognition of its control over the strait and the…

The Economic Times

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The Independent UK

Now Iran is mocking Trump over the Strait of Hormuz

IN FULL

The National (Scotland)

Cargo ship 'runs aground' in Strait of Hormuz amid US-Iran peace talks

A SHIP has run aground in the Strait of Hormuz after not taking Iran’s approved route through the water, Iranian state television reported.

The Economic Times

Iran and Oman push Strait of Hormuz fee proposal despite Washington opposition

Iran and Oman are pushing for payments from ships transiting the Strait of Hormuz, a move opposed by Washington. This proposal, inspired by the Straits of Malacca and Singapore, aims to fund maritime safety. While Oman frames it as voluntary service fees, Iran insists on mandatory tolls. A temporary peace…

The Independent UK

Iran-US war latest: Trump dismisses fears of renewed combat as Qatar cites ‘positive progress’ in deadlocked talks

Jared Kushner and Steve Witkoff were in Qatar to discuss the state of negotiations with mediators

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The Economic Times

Oil Price Today (July 1): Crude oil above $73 as Iran rejects direct peace talks with US. Where are prices headed?

Brent crude futures were up 50 cents, or 0.69%, at $73.45 a barrel at 1208 GMT. U.S. West Texas Intermediate (WTI) crude rose 63 cents, or 0.91%, to $70.13 a barrel.

The Economic Times

Oil ticks higher as Iran's refusal to meet US envoys dims ceasefire hopes

Oil prices saw an uptick as Iran's refusal to meet U.S. envoys heightened tensions, impacting the fragile ceasefire. Despite recent declines following conflict de-escalation, analysts are revising forecasts. Meanwhile, U.S. crude and gasoline inventories dropped last week, with markets awaiting official government data. Tanker traffic through the Strait of Hormuz…

The Economic Times

Iran shuts door on US peace talks, insists Hormuz stays under its control

Iran has refused to meet with top US envoys, casting doubt on peace prospects. Disagreements persist over a ceasefire and terms for lifting the Strait of Hormuz blockade. While shipping has partially resumed, Iran insists on controlling traffic and imposing tolls, a stance the US opposes. The conflict's impact on…

Barchart

Crude Prices Fall as Global Oil Supply Risks Ease

August WTI crude oil (CLQ26 ) on Tuesday closed down -1.25 (-1.77%), and August RBOB gasoline (RBQ26 ) closed down -0.0063 (-0.22%). Crude oil and gasoline prices retreated on Tuesday, with crude settling sharply lower. Crude oil prices gave up an early advance and turned lower on Tuesday amid signs...

Barchart

How Low Can Crude Oil Go?

News of a deal to end hostilities between the U.S. and Iran has sent crude oil prices to the lowest level since March 2026. If the Strait of Hormuz opens to traffic and attacks cease, crude oil prices could head for the late 2025 low or lower. However, if hostilities…

The Economic Times

In phone conversation with Iran Prez, PM Modi reiterates importance of freedom of navigation in Hormuz

Prime Minister Modi held a telephonic discussion with Iran's President Masoud Pezeshkian, focusing on West Asian developments and the crucial freedom of navigation in the Strait of Hormuz. Modi emphasized dialogue and diplomacy for regional peace and stability. Iran's President also extended an invitation to Prime Minister Modi for the…

Barchart

Crude Prices Slip as Global Oil Supply Risks Recede

August WTI crude oil (CLQ26 ) today is down -0.59 (-0.83%), and August RBOB gasoline (RBQ26 ) is up +0.0078 (+0.27%). Crude oil and gasoline prices are trading mixed today. Crude oil prices gave up an early advance and turned lower today amid signs that more crude is flowing through...

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