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The Latest Breaking News from Hormuz

Hormuz uncertainty pushes landed costs up to 50%, raising risk of higher consumer prices

The escalating unrest near the Strait of Hormuz is causing a notable spike in shipping expenses for businesses in India. An increase in freight rates and additional war-risk charges are complicating overall costs, which are now trickling down to consumers.

The Economic Times

Oil Price Today (August 7): Crude oil rises above $83 as Strait of Hormuz deadlock continues. Here’s why

Oil prices climbed for a second session on Friday due to renewed Hormuz Strait concerns. Iran proposed restricting hostile vessels and imposing penalties for violations. Crude oil prices saw increases on Thursday and Friday. Analysts warn of significant price hikes if disruptions continue for months. Supply outside the conflict zone…

The Economic Times

Proposed Hormuz passage deal not feasible for shipping industry, sources say

A proposed Iran-Oman deal for Strait of Hormuz control faces significant challenges. U.S. sanctions and restrictive insurance clauses impede workable payment mechanisms for transit. Iran seeks fees between five and seven percent of cargo value for passage. Oman discusses fees around three percent, while Washington opposes any charges. Shipping companies…

The Economic Times

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Iran's Acting Defence Minister says forces ready for any threat amid US tensions

Iran's defense minister stated the nation's armed forces are fully equipped for any threat. He asserted Iran's indigenous technology surpasses regional military hardware. US President Donald Trump issued new warnings of military action against Iran. Trump claimed discussions were ongoing for the Strait of Hormuz reopening. Iran's foreign ministry spokesperson…

The Economic Times

Iran and Oman Say Hormuz Shipping Deal Is 'Close' as Trump Signals Breakthrough This Week

Iran and Oman are finalising a shipping deal in the Strait of Hormuz, potentially challenging US influence. The agreement includes discussions on environmental, legal, and security aspects, with Tehran insisting on passage fees.

International Business Times UK

Iran and the US say a Strait of Hormuz deal is close, but one or both would have to back down

Iran and Oman are finalizing an agreement concerning the Strait of Hormuz. This potential deal could reopen the vital waterway and ease global economic pressures. U.S. President Donald Trump indicated a deal might be announced this week. Attacks on regional shipping continue, impacting oil prices and trade routes. Meanwhile, a…

The Economic Times

Trump Says Hormuz Deal Could Come Within 48 Hours: Do Prediction Markets Back Him Up?

President Donald Trump said Tuesday night that Strait of Hormuz negotiations are “moving along very nicely” and promised an answer within 48 hours. Traders on Polymarket are pricing a wide gap between hearing an announcement and seeing ships move.

Benzinga

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Proposed Hormuz deal would give Iran control of inbound traffic, sources say

Despite the apparent step towards yielding to Iranian demands, the sources pushed back against assertions by U.S. President Donald Trump that a deal reopening the strait was imminent, saying important details still had to be agreed.

The Economic Times

How trains can transform Persian Gulf politics and global security

The crisis in the Strait of Hormuz, wider tensions in the Red Sea and the oil price spikes these circumstances occassion have made one thing abundantly clear: Gulf countries and global markets are dependent on vulnerable maritime routes.

The Conversation

Iran-US war latest: Trump claims Strait of Hormuz is ‘sort of open’ and predicts Tehran will seek peace soon

US president tells reporters in Oval Office: 'I don't think they [Iran] can go much longer'

The Independent UK

US-Iran talks: Rubio says progress made on Strait, nuclear deal

US Secretary of State Marco Rubio detailed negotiations with Iran on two key objectives. These talks focus on reopening the Strait of Hormuz for safe maritime navigation. The ultimate goal remains the complete denuclearization of Iran, which is a long-term objective. Mediated by Oman, progress has been made in these…

The Economic Times

Iran’s president denies threatening to resign during talks over strait of Hormuz

Masoud Pezeshkian dismisses talk of internal rift as hardline Assembly of Experts call US negotiations ‘futile’

The Guardian - UK

S&P 500 Hits Record Highs, Palantir Jumps 27%: Stock Market Today

U.S. equities powered to fresh record highs by midday Tuesday as blowout guidance from Palantir Technologies Inc. (NASDAQ:PLTR) and a Caterpillar Inc. (NYSE:CAT) earnings beat reignited the AI trade, while crude oil tumbled more than 5% on growing conviction that a deal to reopen the Strait of Hormuz is days…

Benzinga

US and Qatar report progress on Iran ceasefire and reopening Hormuz strait

Optimism echoes Trump’s claims on Monday that deal is close as mediators say they are exchanging proposals

The Guardian - UK

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The Independent UK

Iran-US war latest: Trump warns Tehran will be ‘hit very hard’ unless Hormuz reopens

Trump said the agreement would include reopening the Strait of Hormuz and address Iran’s nuclear program

The Economic Times

Oil ticks up after selloff as talks to end US-Iran war remain uncertain

Oil prices saw a slight rebound on Tuesday after earlier declines. Concerns over Middle Eastern supply remain high due to U.S.-Iran tensions. Diplomatic resolution to the conflict appears unlikely at this time. Shipments through the Strait of Hormuz continue to face risks. Market analysts note the fragility of current price…

The Guardian - UK

Trump meets his obstinate match in Iran’s hardball regime

US president reduced to bemoaning Tehran’s ‘unbelievable duplicity’ as he struggles to find solid negotiating ground

The Economic Times

How Iran is widening its pressure campaign to force US concessions

Iran is pursuing a strategy of calibrated escalation to raise the economic and strategic costs for the US and its allies by threatening the Strait of Hormuz, key shipping lanes and energy infrastructure. Analysts say Tehran aims to strengthen its negotiating position, expand regional influence and force concessions without triggering…

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The Guardian - UK

UK economy faces recession if strait of Hormuz remains closed, EY warns - as it happened

Rolling coverage of the latest economic and financial news

The Economic Times

Saudi oil tanker heads to India as Red Sea, Hormuz traffic slows amid attacks

US Iran war: A Saudi crude tanker carrying 2 million barrels is headed to Sikka port where Reliance Industries receives most of his cride oil, after crossing the Bab el-Mandeb Strait, even as tanker attacks and Houthi threats disrupted shipping in the Red Sea and Strait of Hormuz. Vessel traffic…

International Business Times

Skirting Hormuz Is A Logistical Nightmare. Time To Pursue Such A Passage Has Arrived.

Experts have cited logistical nightmares and security threats that make skirting the Hormuz a daunting scenario. Alternative pipelines won't be sufficient to curb reliance on Hormuz as these have only a combined maximum capacity of about nine million barrels per day, compared to 20 million bpd that transited through Hormuz…

The Economic Times

Brent crude jumps 7%, climbs over $90 on escalating Middle East strikes

Oil prices surged significantly amid renewed Middle East airstrikes and supply concerns. U.S. crude inventories dropped to a multi-year low, further impacting market sentiment. Military actions in the Strait of Hormuz and surrounding regions contributed to price volatility. Analysts predict oil prices will fluctuate within a broad range in the…

Euronews

Iran rejects Hormuz deal and launches surprise strike on US forces in Jordan

Tehran rejected an Omani proposal to divide the strait equally and declared Hormuz would "never return to its prewar situation," hours before the IRGC launched multiple ballistic missiles at US forces in Jordan in what CENTCOM called an attempted surprise attack.

The Economic Times

'No plans to negotiate with US': Iran dismisses Trump's claims, says Washington 'pleaded for end of conflict'

In a firm stance, Iran's Deputy Foreign Minister has made it clear that there are no intentions to negotiate with the United States. Instead, the focus remains on fruitful discussions with Oman. He warned that any European naval ships entering the Strait of Hormuz would be treated as legitimate targets.…

The Guardian - UK

US joins forces with Saudis to strike Tehran-backed militias in Iraq

Oil price spikes after flare-up of fighting and claimed Iranian attacks on three tankers in strait of Hormuz

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