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The Latest Breaking News from the Strait of Hormuz

Oil Price Today (June 9): Crude oil falls 1% as Israel and Iran pause strikes. Where is liquid gold headed?

Oil prices eased in early Tuesday trading after Iran and Israel indicated a pause in hostilities, reducing immediate concerns over supply disruptions. However, both countries kept the door open for renewed military action despite agreeing to halt attacks following an appeal from U.S. President Donald Trump.

The Economic Times

Traders Predict That the Strait of Hormuz Will Not Go Back to Normal Until the End of the Year

Kalshi's market tracking indicated that traffic through the Strait of Hormuz would return to normal, implying roughly a 66% probability that conditions would not normalize by mid-June.

International Business Times

The global airline industry’s profits could be cut in half as it braces for its worst year since the pandemic

Iran's grip on the Strait of Hormuz is adding $100 billion to airlines' collective fuel bill this year.

Fortune

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Shipping Ministry confirms attack on vessel carrying 24 Indian seafarers south of the Strait of Hormuz

A fire erupted on the oil tanker MT Marivex, located south of the Strait of Hormuz, with all 24 Indian seafarers aboard reported safe. India's Ministry of Ports, Shipping and Waterways is actively coordinating with other government bodies and Indian embassies overseas. The tanker was reportedly empty at the time,…

The Economic Times

24 Indian seafarers seek urgent help after vessel reportedly attacked off Oman coast

Twenty-four Indian seafarers are urgently seeking help after their vessel was reportedly attacked off Oman's coast, near the Strait of Hormuz. The Forward Seamen's Union of India has appealed to the Indian Navy and authorities for intervention amidst rising regional tensions. Details regarding the attack and the vessel remain unconfirmed…

The Times of India

From trickle to torrent: Hormuz reopening may trigger a global oil flood

The reopening of the Strait of Hormuz could trigger a faster-than-expected recovery in global oil supplies. With tankers already positioned near the Gulf and oil infrastructure largely preserved during the shutdown, producers are expected to ramp up output quickly once shipping resumes. Industry experts believe a significant portion of the…

The Economic Times

Oil market calm masks a host of unknowns

Global oil markets are experiencing an unusual calm despite a major supply shock. The Strait of Hormuz remains largely shut, impacting significant global supply. However, prices have retreated from highs. Uncertainties about global inventories, China's demand, and the true state of consumption create a precarious situation. Experts are operating with…

The Economic Times

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West Asia War: Hormuz strait will be open but with transit fees, Iran envoy to Moscow quoted

Iran and Oman will control passage through the Strait of Hormuz. New conditions, including transit fees, will be implemented. This follows disruptions to oil flows due to a conflict. Several tankers have recently exited the Gulf. Oil and gas flows remain restricted. Iran stated fees will depend on ship type…

The Economic Times

Oil Price Today (June 8): Crude oil flares up 5% as Israel attacks Iran, Lebanon in latest escalation. What's next?

Oil prices surged 5% on Monday after Israel launched fresh strikes on Lebanon, raising fears of renewed Middle East tensions and potential disruptions to crude flows through the Strait of Hormuz. U.S. crude climbed to $92.64 a barrel, while Brent crude rose to $95.42 a barrel.

The Economic Times

Markets face triple threat of Iran war reigniting, AI bubble popping, and Fed rates rising while epic SpaceX IPO could fuel even more chaos

Tensions in the Gulf had already been escalating as the U.S. and Iran increasingly exchange fire, with both sides trying to establish their own shipping lanes in the Strait of Hormuz.

Fortune

US, Iran appear far from peace deal 100 days since war began

Tensions rise as US and Iran struggle for an interim deal. Fresh attacks test a fragile ceasefire. Frozen Iranian assets and the Lebanon conflict stall negotiations. The Strait of Hormuz remains a focal point. Global oil prices spike, impacting voters ahead of midterm elections. Pakistan plays a mediating role.

The Economic Times

US says shot down Iran drones as war reaches 100th day

TEHRAN - The United States said it shot down a pair of Iranian drones threatening the Strait of Hormuz, as the Middle East war reached its 100th day on Sunday with no end in sight.

Bangkok Post

Pakistan's interior minister is in Tehran as the US downs more Iranian drones over Hormuz

Pakistan's interior minister is in Tehran to revive Iran-U.S. negotiations. This comes as U.S. forces downed Iranian drones near the Strait of Hormuz. Fighting between Israel and Hezbollah continues despite a ceasefire extension. Israel struck Beirut suburbs in response to earlier rocket fire. The conflict impacts global trade and risks…

The Economic Times

Israel strikes Beirut's southern suburbs days after ceasefire agreement

Israel has struck the southern Beirut suburbs, targeting Hezbollah command centers

The Independent UK

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The Economic Times

Strait of Hormuz: Iran-U.S. war is far from over. Here's why

Iran’s Revolutionary Guard said it had targeted the Ali Al Salem air base, which hosts U.S. forces in Kuwait, and the U.S. Navy’s 5th Fleet in Bahrain, according to the state-run IRNA news agency. The U.S. military said there were no reports of harm to U.S. personnel.

Euronews

US downs two Iranian drones threatening Strait of Hormuz traffic

US forces intercepted two Iranian attack drones near the Strait of Hormuz, a day after downing four others that Washington said threatened maritime traffic in the strategic waterway.

The Independent UK

Iran-US war latest: Israel launches retaliatory strikes on Iran’s military targets after missile attack

Explosions were reported in several cities, including Tehran and Isfahan

The Economic Times

Indian households continue to pay among the lowest cooking gas prices in the world: Petroleum Ministry

The Indian household continues to buy cooking gas much cheaper than the household in any neighbouring country, and far below the price paid in advanced economies such as the United States, Australia and Canada, the Ministry of Petroleum and Natural Gas said on Sunday, noting that a beneficiary of the…

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The Economic Times

US forces shoot down two Iranian attack drones in Strait of Hormuz amid fresh escalation

United States forces have intercepted and destroyed two Iranian drones. These drones posed a threat to commercial shipping in the Strait of Hormuz. This action marks a fresh escalation of hostilities in West Asia. The incident follows Iran's earlier missile and drone attacks on the strategic waterway and its Gulf…

Fortune

The Strait of Hormuz is more open than previously thought as the U.S. shoots down Iranian drones threatening ships and provides 'naval overwatch'

"The attack drones posed an immediate threat to regional maritime traffic," U.S. Central Command said.

International Business Times UK

Trump's Blockade Has Cost Tehran $6bn in Oil Revenue and the Rest of the World Is Feeling It

Iran's oil exports have dropped to a six-year low due to a US naval blockade, causing significant economic strain and impacting global energy markets.

International Business Times UK

Sen. Chris Murphy Torches Trump's Iran Deal, Calls Conflict the 'Most Incompetent War in Modern US History'

US Senator Chris Murphy criticises President Trump's draft deal to end the Iranian conflict, questioning its effectiveness and impact on America's global standing. Discover the implications for the Strait of Hormuz and the international response.

The Economic Times

Why oil’s not at $200 after the biggest supply shock in history

Global oil prices are defying expectations, staying below $100 a barrel even after the Strait of Hormuz was effectively blocked. Record US oil exports and a significant drop in Chinese demand are helping to absorb the shock. Strategic reserves have been released and alternative routes are being used.

The Economic Times

US strikes Iranian sites after Iran launches drones, in latest Gulf flare-up

U.S. forces struck Iranian coastal radar sites after shooting down four Iranian drones targeting maritime traffic near the Strait of Hormuz. Iran retaliated by attacking U.S. bases in Kuwait and Bahrain, leading to condemnations and further complicating indirect negotiations for a ceasefire.

The Economic Times

Rising fuel prices to strain household budgets as West Asia crisis pushes crude above USD 100: Chief Economist Manoranjan Sharma

Fuel prices are climbing globally, impacting Indian households. The West Asia conflict is driving up crude oil costs, making higher fuel prices unavoidable. India, reliant on oil imports through the Strait of Hormuz, faces significant challenges. While the government aims to protect consumers, global energy shocks present limitations.

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