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The Latest Breaking News from the Strait of Hormuz

Iran Peace Hopes and Weak China Oil Demand Hammers Crude Prices

July WTI crude oil (CLN26 ) on Friday closed down -2.50 (-2.69%), and July RBOB gasoline (RBN26 ) closed up +0.0076 (+0.25%). Crude oil prices settled sharply lower on Friday amid hopes of a US-Iran peace settlement that would allow the reopening of the Strait of Hormuz. Also, Friday's rally...

Barchart

War will end when fighting stops in Lebanon as well: Iran

In another development, a potential agreement between Washington and Tehran hinges on US President Donald Trump's administration agreeing to release $24 billion in frozen Iranian assets, CNN quoted Mohsen Rezaei, an adviser to Iran's supreme leader, as saying on Friday. Iran has made a ceasefire between Israel and Hezbollah a…

The Economic Times

Renewables key to Asia prosperity

As the war in the Strait of Hormuz continues to create havoc, Asia remains the worst hit by the global energy crisis. Whether it's a large economy like Japan or China, or a struggling economy like Sri Lanka or Pakistan, the same fate holds. Even nations that produce oil, like…

Bangkok Post

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Crude Prices Fall on Iran Peace Hopes and Weak China Oil Demand

July WTI crude oil (CLN26 ) today is down -1.86 (-2.00%), and July RBOB gasoline (RBN26 ) is up +0.0202 (+0.66%). Crude oil prices are under pressure today, amid hopes of a US-Iran peace settlement that would allow the reopening of the Strait of Hormuz. Also, today's rally in the...

Barchart

Pakistan buys costliest LNG cargo in four years as Hormuz disruption triggers energy crunch

Pakistan purchased its most expensive liquefied natural gas (LNG) shipment in approximately four years as it contends with an energy shortage stemming from the Strait of Hormuz closure.

The Times of India

How the war in Iran could impact £3bn of UK pensions

INVESTIGATION: New analysis from the Bureau of Investigative Journalism and The Independent finds that billions of pounds of UK pensions have been left exposed to the ongoing conflict in the Middle East. Josephine Moulds and Nick Ferris report

The Independent UK

Oil Price Today (June 5): Crude oil holds ground as Iran peace deal uncertainty lingers. Where are prices headed?

Oil prices held steady on Friday following significant Thursday losses. Hopes for a quick resolution to the U.S.-Israeli conflict with Iran diminished after Hezbollah rejected a new ceasefire proposal. Despite this, both Brent and WTI crude benchmarks are on track for their first weekly gain in three weeks.

The Economic Times

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Oil Industry Leaders Reportedly Warn Trump That Energy Prices Could Soar By The End Of The Month

Oil executives are warning the Trump administration that oil prices will likely surge in the next weeks as inventories continue to decrease with the Strait of Hormuz closed.

International Business Times

Strait of Hormuz oil crisis: An opportunity for Syria?

In the show this week, we look at how Syria could benefit from the oil crisis triggered by tensions in the Strait of Hormuz. After Iran effectively closed the strategic waterway, Syria's Mediterranean port of Baniyas found itself emerging as a hub for crude oil transported overland from the UAE…

France 24

Hezbollah rejects latest ceasefire agreement as Israeli strikes kill 4 in Lebanon

Hezbollah rejected a new ceasefire agreement with Israel, demanding a complete Israeli withdrawal and refusing to disarm under fire. The announcement followed deadly Israeli strikes and the death of a UN peacekeeper. The ongoing conflict threatens efforts to end the wider war and reopen the Strait of Hormuz.

The Economic Times

'It's not happening': EU loses hope in maritime services ban for Russian tankers

The EU is stuck with a ban on maritime services for Russian oil tankers. The closure of the Strait of Hormuz, the silence of G7 allies and the opposition of Greece and Malta have made any policy shift virtually impossible.

Euronews

More oil escapes Hormuz, keeping traders guessing

Iran war: Tankers are using stealth to exit the Strait of Hormuz, freeing oil trapped in the Gulf. The practice of ships going dark is widespread. This makes it harder to gauge market flows. Oil on water in the Gulf has dropped. This shows outflows are inching higher. The market…

The Economic Times

IndiGo shares crack nearly 30% from peak. Will Iran war, soaring oil prices cause more turbulence?

InterGlobe Aviation faces significant challenges in 2026 due to new FDTL norms causing pilot shortages and widespread disruptions. The Israel-Iran conflict further impacted operations with airspace restrictions and rising oil prices, leading to a net loss in Q4 FY26. Analysts remain cautious, with the outlook dependent on oil prices and…

The Economic Times

Oil Price Today (June 4): Crude oil slips as Israel-Lebanon ceasefire fuels Iran war peace hopes. What’s next?

Oil prices dipped as a ceasefire between Israel and Lebanon sparked hopes for broader diplomatic progress, potentially easing U.S.-Iran tensions. The U.S. House also passed a resolution limiting President Trump's military action against Tehran. Despite these developments, analysts warn that disruptions in the Strait of Hormuz could significantly impact global…

The Economic Times

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Barchart

Fresh Clashes Between the US and Iran Boost Crude Oil Prices

July WTI crude oil (CLN26 ) on Wednesday closed up +2.26 (+2.41%), and July RBOB gasoline (RBN26 ) closed down -0.0127 (-0.40%). Crude oil prices rallied to a 1.5-week high on Wednesday and settled sharply higher as clashes between the US and Iran cast doubt on prospects for a peace...

The Economic Times

Iran cannot have a nuclear weapon, it's a red line for US: Ambassador Sergio Gor

US Ambassador to India Sergio Gor stated that Iran will never possess a nuclear weapon, calling it a "red line" for the United States. He criticized Iran for blocking the Strait of Hormuz and holding the world hostage, warning that President Trump will not allow this irresponsibility to continue.

The Economic Times

Collapse is near: Trump's window to resolve Iran crisis closing fast

West Asia tensions are escalating, impacting global markets. Iranian attacks and US strikes near the Strait of Hormuz are disrupting oil supplies. Economists warn of a significant economic shock if a US-Iran agreement remains elusive. This conflict threatens jobs and economic growth worldwide, particularly in Europe and Asia. The world…

International Business Times

OECD Cuts Global Growth Outlook As U.S.-Iran War Weighs On Economy, Energy Markets

The global economy is expected to slow this year as the fallout from the U.S.-Iran war continues to ripple through energy markets, trade routes and investment activity, according to the OECD.

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Barchart

Crude Oil Prices Gain on Middle East Peace Doubts

July WTI crude oil (CLN26 ) today is up +1.80 (+1.93%), and July RBOB gasoline (RBN26 ) is up +0.0155 (+0.49%). Crude oil prices are moving sharply higher today, posting a 1.5-week high as clashes between the US and Iran cast doubt on prospects for a peace deal that would...

The Independent UK

Foreign minister says attack on Kuwait Airport is ‘completely unacceptable’

The UK Government has condemned an Iranian drone attack on Kuwait International Airport, which resulted in one fatality and 63 injuries. Foreign Minister Hamish Falconer labelled the incident a 'completely unacceptable attack' and conveyed condolences to the Kuwaiti government, urging Iran to de-escalate. The attack, which occurred on Wednesday morning,…

International Business Times

Fuel Prices To Remain Elevated In The U.S. Even If Hormuz Strait Is Reopened Soon With Inventories Almost Depleted

Global oil and gas inventories are almost depleted as the Strait of Hormuz has been closed for over three months. As a result, even if the key waterway is quickly reopened, U.S. consumers will still face high fuel prices.

Fortune

Wall Street is beginning to think that Trump can’t reopen the Strait of Hormuz

Everything you need to know before you reach the office this morning.

AAP

Hostilities flare in Iran war with talks at a stalemate

An Iranian drone attack has closed Kuwait's airport and the US has launched strikes near the Strait of Hormuz as talks to end the war remain at an impasse.

Bangkok Post

Hostilities flare in Iran war, oil jumps with talks at a stalemate

CAIRO/WASHINGTON - Gulf hostilities flared again on Wednesday, with an Iranian missile attack damaging Kuwait's airport and the U.S. military carrying out strikes near ‌the Strait of Hormuz, as diplomacy between Washington and Tehran showed little progress.

The Independent UK

Iran-US war latest: Israel and Lebanon agree ceasefire as US House votes to limit Trump’s war powers

Representatives from Israel and Lebanon will reconvene in the week of June 22

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