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The Latest Breaking News from the Strait of Hormuz

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.

The Economic Times

'Hostile missiles, drones intercepted': Kuwait, Bahrain come under Iranian attack; watch

Iran launched ballistic missiles and drones toward Kuwait and Bahrain, prompting air defense responses in both nations. The US military intercepted Iranian missiles and drones targeting the Strait of Hormuz and allies, striking Iranian radar sites in response. These actions escalate tensions between Tehran and Washington amid ongoing regional confrontations.

The Times of India

Russia's oil major says US companies benefit from the closure of the Strait of Hormuz

Rosneft CEO Igor Sechin stated that American energy companies are benefiting most from the closure of the Strait of Hormuz. He believes the United States is altering global energy markets to serve its own interests. Sechin also noted that the OPEC+ group has weakened due to member withdrawals. He warned…

The Economic Times

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Iran targets Bahrain and Kuwait after renewed US strikes

Iran launched missile attacks on Bahrain and Kuwait after renewed US strikes. This action has intensified regional conflict and threatened a fragile truce. Weeks of negotiations have failed to secure a peace deal. The Strait of Hormuz remains a critical global trade route. Tensions rose significantly with these exchanges of…

The Economic Times

Iran-US war latest: Two more drones downed over Strait of Hormuz as Trump claims he ‘destroyed’ Tehran’s military

It comes as the US military said it downed six Iranian missiles in the Gulf

The Independent UK

US unveils video of retaliatory strikes following interception of six Iranian missiles over Gulf

US forces struck Iranian radar sites in Goruk and Qeshm Island. This followed Iranian drone and missile attacks targeting maritime shipping. Six Iranian ballistic missiles were shot down. The US dismissed Iranian claims of hitting American naval infrastructure. The exchange highlights ongoing tensions in the Strait of Hormuz.

The Economic Times

'Immediate threat': US downs four Iranian drones, strikes radar sites near Hormuz

American forces shot down four Iranian drones heading toward the Strait of Hormuz on Friday and followed up by hitting Iranian coastal surveillance radar sites, escalating tensions that continue to test an already fragile ceasefire.

The Times of India

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US military says it shot down Iranian drones launched toward Strait of Hormuz

The US military shot down four Iranian drones near the Strait of Hormuz and struck coastal radar sites in response, escalating tensions. This action comes as the Trump administration increases pressure on Iran, impacting regional maritime traffic and global energy prices. The US also boarded a sanctioned oil tanker and…

The Economic Times

Strait of Hormuz boils again: Iranian drones launched toward global oil corridor shot down, says U.S military

Iran war: U.S. Central Command said it hit the radar sites, including an island in the Strait of Hormuz, “to defend against further attacks.”

The Economic Times

US military shot down Iranian drones launched toward Strait of Hormuz

The U.S. military says it shot down four Iranian drones that were launched toward the Strait of Hormuz on Friday and then struck some of the Islamic Republic’s coastal surveillance radar sites in response

The Independent UK

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

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

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The Times of India

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 Independent UK

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 Economic Times

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.

International Business Times

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.

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France 24

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…

The Economic Times

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.

Euronews

'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.

The Economic Times

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…

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...

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