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The Latest Breaking News from the Persian Gulf

Tankers make U-turns in Hormuz, with some taking Iran route instead

Tensions are high in the Persian Gulf as at least eight ships, including oil tankers, reversed course near the Omani coast, signaling Iran's continued assertion of control over the Strait of Hormuz. Despite a US-Iran deal to reopen the waterway, vessels report warnings from Iranian forces. While traffic has increased,…

The Economic Times

US must 'accept existing realities' on trade: Iranian Parliament Speaker Ghalibaf

Iran's Parliament Speaker, Mohammad Bagher Ghalibaf, asserted that the US must acknowledge a changed global landscape following recent conflicts. He highlighted potential for expanded trade and transit cooperation, particularly with reduced American interference in the Persian Gulf. Ghalibaf also sharply criticized US President Donald Trump's remarks on Iran's economy and…

The Economic Times

India plans to add strategic fuel reserves after Iran war shock

India is bolstering its energy security by planning strategic reserves of crude oil, LPG, and LNG to cover up to a month's demand, aiming to prevent supply disruptions like those seen during the Persian Gulf crisis. This ambitious move follows a review of existing, limited stockpiles and includes expanding underground…

The Economic Times

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Oil finds its way: Supertankers return to Persian Gulf

Supertankers are once again navigating the Strait of Hormuz, a crucial oil route, following a period of disruption due to recent Iran conflict. Shipping data indicates a significant increase in commodity vessel traffic, including oil tankers, signalling renewed confidence among shipowners. This return of large carriers, with a combined capacity…

The Economic Times

'Great victory': Iran says Qatar to release $6bn in frozen assets, contradicts Trump's claims

Claiming a 'great victory,' Iran's President announced the expected release of $6 billion in frozen assets held in Qatar. This declaration arrives amidst increasing hostilities in the Persian Gulf, contributing to the volatility surrounding the U.S.-Iran negotiations. Iran is adamant regarding the fund release, though the U.S. asserts no assets…

The Times of India

Iran's president says $6B in frozen assets in Qatar to be released as US talks challenged

Iran’s president said $6 billion in frozen Iranian assets would be released by Qatar, as negotiations with the United States were challenged by attacks at the weekend across the Persian Gulf

The Independent UK

Crude Oil Prices Fall Sharply as Global Supply Risks Ease

August WTI crude oil (CLQ26 ) on Friday closed down -2.69 (-3.74%), and August RBOB gasoline (RBQ26 ) closed down -0.0765 (-2.64%). Crude oil and gasoline prices settled sharply lower on Friday, with crude posting a fresh 4-month low. An acceleration of oil tankers out of the Persian Gulf is...

Barchart

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Crude Oil Prices Sink as Supplies Out of the Persian Gulf Accelerate

August WTI crude oil (CLQ26 ) today is down -3.18 (-4.42%), and August RBOB gasoline (RBQ26 ) is down -0.1009 (-3.48%). Crude oil and gasoline prices are plunging today, with crude posting a fresh 4-month low. An acceleration of oil tankers out of the Persian Gulf is boosting global oil...

Barchart

Iran Installs Persian Gulf's Biggest Offshore Rig Without Foreign Technology — Under Sanctions and After Being Bombed

Iran has installed its largest offshore drilling platform in the Persian Gulf, overcoming US sanctions and military strikes, showcasing domestic engineering capabilities.

International Business Times UK

India-bound oil supertanker booked in Gulf at 897% of benchmark freight rate

A supertanker has been provisionally booked to ship oil from the Persian Gulf to India at a staggering rate, nearly nine times the benchmark freight cost. This eye-watering price highlights a severe shortage of available vessels in the region. The high demand, driven by increased exports and the need to…

The Economic Times

Eleven India-bound vessels have crossed Strait of Hormuz since signing of Iran-US MoU: MEA

Eleven India-bound vessels have successfully navigated the Strait of Hormuz since the US-Iran agreement on June 17, according to MEA spokesperson Randhir Jaiswal. Ten Indian-flagged ships remain in the Persian Gulf, with two more entering the region. This crucial waterway, vital for global oil transit, has recently faced disruptions, raising…

The Economic Times

At the gates of Hormuz, 80 million barrels of oil are on standby

Large volumes of crude oil are waiting in the Persian Gulf and are ready to move through the Strait of Hormuz if shipping activity resumes following an interim US-Iran agreement aimed at restoring transit in the waterway.

The Economic Times

First signs of LNG traffic return emerge at Strait of Hormuz with a relief for Pakistan

An LNG tanker loaded in Qatar is approaching the Strait of Hormuz, signalling a possible revival in traffic after a temporary US-Iran peace deal. The vessel, Mraikh, has been stranded in the Persian Gulf since February and is now headed toward Pakistan. The move comes as Trump announced a deal…

The Economic Times

Starmer hails hugely significant ‘breakthrough’ as Trump announces US-Iran war peace deal

US president Donald Trump said the agreement meant ‘oil will flow’ freely once again through the Strait of Hormuz, the vital shipping route out of the Persian Gulf

The Independent UK

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Fortune

Iran proved it can close the Strait of Hormuz, but the U.S. is advertising very loudly that the world's top superpower can at least punch open a hole

Hegseth said the U.S. naval blockage in Iran is "impenetrable" and 125 million barrels of oil have now exited the Gulf, "showing that we control the strait."

The Economic Times

US military helping move 7 million barrels of oil per day out of Persian Gulf, Wright says

Amidst geopolitical tensions, the US military's efforts are securing the departure of seven million barrels of oil each day from the Persian Gulf, dramatically outperforming market anticipations. Currently, no Iranian oil is making its way through the Strait of Hormuz.

Kiplinger

Iran War Upends the Global Oil Industry: Kiplinger Special Report

Even after the war ends, oil producers and importers will be racing to lessen their reliance on oil shipments through the Persian Gulf.

Barchart

S&P Futures Muted as Fresh U.S.-Iran Hostilities Lift Oil and Bond Yields, ADP Jobs Report and Broadcom Earnings on Tap

June S&P 500 E-Mini futures (ESM26) are trending down -0.05% this morning as oil prices and bond yields climbed after the U.S. and Iran exchanged heavy fire in the Persian Gulf.

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The Economic Times

The Iran war is pushing the global gas trade into the shadows

As the Strait of Hormuz remains under Iranian control amid the ongoing West Asia conflict, Qatar has quietly resumed some LNG exports by adopting tactics more commonly associated with the oil industry's “shadow fleet.” LNG carriers are increasingly switching off transponders, travelling in pairs, and making “dark transits” through the…

Fortune

The Strait of Hormuz is splitting into U.S. and Iranian lanes as ship traffic picks up even while fighting intensifies

Over the last three weeks, Central Command has guided about 70 ships in and out of the Persian Gulf.

The Economic Times

Iran's IRGC says 28 ships passed through Strait of Hormuz in the last 24 hours

Iran's IRGC reports 28 ships transited the Strait of Hormuz under its security. The IRGC states the Persian Gulf's insecurity stems from US actions. Iran recently launched a new body to manage maritime traffic in the strait. The US has imposed sanctions on this body, accusing Iran of extortion.

International Business Times

US Warns Of Sanctions Risk If Deals On Strait Of Hormuz Passage Are Struck

The Strait of Hormuz is a key waterway that connects the Persian Gulf to the rest of the world though which a fifth of the world's energy transit was routed. After the US-Israeli strikes began on February 28, the passage of vessels through the Strait has been hit, severely disrupting…

The Economic Times

Merchant ships desert Strait of Hormuz amid renewed US strikes

Commercial shipping traffic through the Strait of Hormuz nearly came to a halt on Thursday as fears of renewed military escalation between the US and Iran intensified. Ship-tracking data showed no commercial vessels crossing the key oil chokepoint Thursday morning after only six two-way crossings on Wednesday.

The Economic Times

LNG tanker exits Hormuz for India for first time since war began

The exit of an LNG tanker from the Strait of Hormuz marks a pivotal moment for India, signaling its first shipment from the Persian Gulf in light of the ongoing Iran conflict.

Euronews

Leonardo to equip Kuwait patrol vessels, strengthening Italy's presence in the Gulf

The Italian group has signed a €320 million deal with Abu Dhabi Ship Building to supply FALAJ 3 OPV naval combat systems to Kuwait, bolstering Italy’s commercial and military role in the Persian Gulf.

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