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The Latest Breaking News from the Strait of Hormuz

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…

The Economic 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.

International Business Times

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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...

Barchart

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,…

The Independent UK

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.

International Business Times

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.

Fortune

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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.

AAP

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.

Bangkok Post

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

The Independent UK

US looks to unblock Hormuz with quiet version of Project Freedom

America is now working discreetly to safeguard ships in the Strait of Hormuz. This new approach involves coordinating with shipping companies. Vessels are reportedly turning off tracking devices and sailing near Oman's coast. The US military is providing assistance if needed. This strategy aims to avoid provoking Iran, unlike a…

The Economic Times

Oil Price Today (June 3): Crude oil nears $100 again as Iran launches attack in fresh escalation. What are experts saying?

Middle East tensions escalated as Iran launched missiles, prompting U.S. strikes and rattling oil markets. Brent and WTI crude prices saw a notable increase. Diplomatic efforts between Tehran and Washington remain stalled, with mixed signals on negotiations. The strategic Strait of Hormuz remains a key focus for traders amid ongoing…

The Economic Times

'Brace for New Shocks in June' as World Oil Supplies Near a Point of No Return, Analysts Warn

Global oil reserves are depleting rapidly due to the Iran war, with experts warning of severe economic impacts if the Strait of Hormuz remains closed.

International Business Times UK

Why are oil prices up today, and will Brent futures and US WTI crude prices continue to rise or decline again? Iran war, Strait of Hormuz disruption and falling oil stockpiles drive market

Why are oil prices up today, and will Brent futures and US WTI crude prices continue to rise or decline again? Oil prices moved higher and reached a one-week high as traders watched developments surrounding Iran and the United States. Concerns over the Strait of Hormuz, lower global oil inventories,…

The Economic Times

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Barchart

Crude Oil Prices Rally on US-Iran Peace Uncertainty

July WTI crude oil (CLN26 ) on Tuesday closed up +1.60 (+1.74%), and July RBOB gasoline (RBN26 ) closed up +0.0596 (+1.83%). Crude oil prices settled sharply higher on Tuesday amid uncertainty over when the US and Iran will agree to a peace deal reopening the Strait of Hormuz. Crude...

The Economic Times

Rubio says Mojtaba Khamenei alive and 'increasingly engaging'

US Secretary of State Marco Rubio confirms Iran's supreme leader Mojtaba Khamenei is alive and active. Talks to end a three-month war have stalled. Rubio hopes for a deal if Iran limits its nuclear program and reopens the Strait of Hormuz. Sanctions relief depends on Iran abandoning enrichment activities. The…

MarketBeat

BW LPG Q1 Earnings Call Highlights

BW LPG (NYSE:BWLP) reported sharply higher first-quarter earnings and announced a major fleet renewal program, as management said geopolitical disruptions in the Middle East and shifting LPG trade flows have pushed very large gas carrier freight rates to historically elevated levels. Chief Executiv

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…

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The Economic Times

A ₹3 lakh crore rain check? India’s monsoon now comes with a Hormuz fine print

India’s fertiliser supply chain is under strain as the West Asia conflict disrupts shipping through the Strait of Hormuz, a critical route for imports. The crisis comes just as India faces a below-normal monsoon forecast, with the IMD projecting rainfall at 90% of the long-term average and a 92% probability…

The Economic Times

Why Asia's oil lifeline can't survive on US crude alone

Asian nations are receiving more crude oil from the United States. However, these increased shipments cannot fully replace oil lost due to the closure of the Strait of Hormuz. This situation is creating supply challenges for refineries. Experts believe prices for refined fuels may rise. Less developed countries in Asia…

The Economic Times

Oil rally may fuel stagflation concerns, though AI remains market's key driver: Arnab Das

Renewed Middle East tensions are driving oil prices higher, fueling inflation and economic growth concerns. Despite market optimism, significant challenges remain in resolving issues with Iran, and markets may not have fully priced in potential disruptions, particularly around the Strait of Hormuz.

The Times of India

An alternative to the Strait of Hormuz? Why Iran is eyeing Yemen's Bab al-Mandab

Escalating Middle East tensions are now focusing on the Bab al-Mandab Strait, a crucial global shipping lane. Iran, via its Yemeni allies, may use this chokepoint to pressure adversaries, potentially disrupting vital oil and goods transit. This raises fears of wider conflict impacting international trade routes and energy markets.

The Economic Times

Oil Price Today (June 2): Crude oil at $95 per barrel amid conflicting Iran war signals. What are experts saying?

Oil prices held steady Tuesday, following Monday's surge, as global markets weighed U.S.-Iran ceasefire talks and the potential reopening of the Strait of Hormuz. Conflicting reports emerged regarding negotiations, with President Trump suggesting talks continue while Iranian media indicated a halt.

The Economic Times

Oil steadies as uncertainty over US-Iran talks keeps markets on edge

Oil prices held steady Tuesday amid uncertainty surrounding U.S.-Iran ceasefire talks and the potential reopening of the Strait of Hormuz. Brent crude futures edged up, while WTI saw a slight dip. Market analysts emphasize that ongoing negotiations and Iran's threats regarding the Strait will dictate oil price volatility.

The Economic Times

Why are oil prices up today and will Brent and US WTI crude futures continue to drop or rise again? Oil prices surge as Iran talks stall and supply concerns return

Why are oil prices up today and will Brent and US WTI crude futures continue to drop or rise again? Oil prices moved higher after Iran suspended negotiations with the United States and concerns returned over crude supplies through the Strait of Hormuz. Brent crude and US WTI futures gained…

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