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The Latest Breaking News from the Strait of Hormuz

Ships transiting via Bab el-Mandeb strait at highest in a week, data shows

Thirty-seven commodity ships passed through the Bab el-Mandeb strait on Tuesday, a notable increase. Only a few vessels transited the Strait of Hormuz, indicating a shift in shipping routes. Yemen's Houthis claimed missile attacks on a Saudi oil tanker in the Red Sea. China has engaged in direct talks with…

The Economic Times

India urges de-escalation in West Asia, condemns Strait of Hormuz attacks

India voiced deep concern over escalating West Asian hostilities and maritime attacks. The nation strongly condemned recent attacks on vessels transiting the Strait of Hormuz. India called for an immediate de-escalation of tensions and unimpeded navigation. The country also highlighted the humanitarian crisis in Gaza and the situation in Yemen.…

The Economic Times

Oil Price Today (July 29): Crude oil jumps 5% as US intercepts Iranian 'surprise attack’. Big rally ahead?

Brent crude jumped 5% to around $88 a barrel, recovering after its biggest three-day decline since April 2020. The U.S. West Texas Intermediate (WTI) crude advanced $.67, or .47%, to $83.

The Economic Times

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US shoots down Iranian missile as Saudi joins strikes against Iran-backed militias

US Iran war news: United States forces intercepted an Iranian ballistic missile attack targeting American troops. US and Saudi Arabia forces then struck Iran-backed militia positions in Iraq. These actions followed recent drone attacks and military escalation around the Strait of Hormuz. Iran-backed groups denied involvement, while Houthi rebels claimed…

The Economic Times

Oman presents Iran with Gulf-backed plan to ease Strait of Hormuz tensions

Oman has presented Iran with a Gulf-backed proposal to jointly manage the Strait of Hormuz, including a system of voluntary fees for ships using the strategic waterway, according to a Gulf source and a Western diplomat. The plan aims to provide a framework for restoring stable shipping through the strait…

France 24

Crude Oil Prices Sink on Renewed Hopes of a US-Iran Peace Deal

September WTI crude oil (CLU26 ) on Tuesday closed down -3.35 (-4.06%), and September RBOB gasoline (RBU26 ) closed down -0.0253 (-0.80%). Crude oil and gasoline prices settled sharply lower on Tuesday for a third day, with crude falling to a 1-week low. Crude prices added to Monday’s sharp losses...

Barchart

Oman Pitches Iran Voluntary Fee Plan for Hormuz Ships Modelled on Malacca Strait System

Oman suggests voluntary fees for ships using the Strait of Hormuz, aiming to ease tensions and stabilise oil markets. The proposal mirrors the Malacca model, but Iran's agreement is crucial.

International Business Times UK

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Why is Oman proposing a new plan to manage the Strait of Hormuz?

Oman has proposed a regional management plan for the Strait of Hormuz. This plan suggests voluntary fees to cover operational costs and services. Iran previously sought to control the strait and charge transit fees. The United States also considered charging for passage through the waterway. International law generally prohibits charging…

The Economic Times

Crude Oil Prices Pressured by Optimism Over Iran Negotiations

September WTI crude oil (CLU26 ) today is down -3.25 (-3.93%), and September RBOB gasoline (RBU26 ) is down -0.0304 (-0.96%). Crude oil and gasoline prices are sliding today, with crude falling to a 1-week low. Crude prices added to Monday’s sharp losses today on optimism over negotiations to reopen...

Barchart

Iran Is Holding Talks About The Future Of Hormuz With Oman And Saudi Arabia. Oil Keeps Dropping

Iranian Foreign Minister Abbas Araghchi held talks with Omani and Saudi counterparts about the future of navigation through the Strait of Hormuz.

International Business Times

Iran Wants To Charge Fees For Passage Through The Hormuz Strait. Some Gulf Countries Back a Voluntary Scheme

Gulf states have backed a proposal that would allow Iran to charge fees to vessels going through the Strait of Hormuz if the payments are made voluntarily.

International Business Times

The timing of war and peace is not yours to decide, Iran tells US

Tehran's foreign ministry said Iran would not allow Washington to determine "the timing of war and peace," as Trump claimed the Islamic Republic had requested negotiations and mediators sought to revive the collapsed interim deal.

Euronews

Iran, Oman Reportedly Work Out Hormuz Deal as Trump Sees 'Very Friendly Negotiations' On Ending the War: 'Good Chance…Something Could Happen'

A pause in U.S.-Iran hostilities has sped up diplomatic efforts to secure a temporary agreement to reopen shipping through the Strait of Hormuz, a major flashpoint in the conflict.

Benzinga

Iran will never reach understanding with US, deputy parliament speaker says

Iran's Deputy Parliament Speaker Hamidreza Haji Babaei stated no understanding with America is possible. He emphasized the Strait of Hormuz as a significant source of Iranian power. Babaei reiterated strong support for regional resistance movements and their strength. He also issued a stern warning to Ukraine regarding actions in the…

The Economic Times

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The Economic Times

Oil Price Today (July 28): Crude oil dips 10% in two sessions as US, Iran mull peace talks. What are experts saying?

Brent crude futures were down $0.78, or 1%, at $88 a barrel, while US West Texas Intermediate crude fell $0.88, or 1.1%, to $82. Both benchmarks had dropped 1% earlier in the session, touching their lowest levels in more than a week.

Bangkok Post

Thailand to purchase oil outside the Middle East

Thai energy authorities and oil traders are preparing to import more crude oil from outside the Middle East as the escalating conflict disrupts two key shipping routes — the Red Sea and the Strait of Hormuz.

International Business Times UK

Global Petrol Prices Soar as Strait of Hormuz Shipping Drops to Three-Week Low Following Iran Blockade

Global petrol prices rise as tensions in the Strait of Hormuz disrupt shipping routes, affecting energy supplies. Diplomatic efforts continue amid regional instability and military stand-offs.

Barchart

Crude Oil Prices Sink on Hopes for US-Iran Diplomacy

September WTI crude oil (CLU26 ) on Monday closed down -6.70 (-7.50%), and September RBOB gasoline (RBU26 ) closed down -0.0820 (-2.52%). Crude oil and gasoline prices sank on Monday, with gasoline falling to a 1-week low. The easing of tensions in the Middle East weighed on energy prices Monday...

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International Business Times

The Houthis Said They Keep Hitting Saudi Oil Infrastructure. That Could Spell More Trouble For Global Supply

The Iran-backed Houthis claimed to have struck crude oil supply and transport sites that connect eastern Saudi Arabia to the Red Sea.

Barchart

Crude Oil Prices Plunge as Supply Threats Ease

September WTI crude oil (CLU26 ) today is down -6.06 (-6.79%), and September RBOB gasoline (RBU26 ) is down -0.0679 (-2.10%). Crude oil and gasoline prices are sinking today, with gasoline falling to a 1-week low. The easing of tensions in the Middle East is weighing on energy prices today...

International Business Times UK

Oil Drops as US-Iran Fighting Pauses, But Analysts Warn Truce May Not Last

Oil prices plunge as US-Iran fighting pauses, but Iran denies a ceasefire, the Strait of Hormuz stays closed and analysts warn the fragile truce could collapse.

International Business Times

Israel Believes The U.S. And Iran Won't Reach a Deal Over The Hormuz Strait, So Trump Will Escalate

Israel reportedly believes Trump will soon be forced to escalate hostilities in Iran as a result of a continued deadlock related to passage through the Strait of Hormuz.

The Economic Times

Saudi downs drones fired by Iran-backed militias in Iraq amid US-Tehran lull

Saudi Arabia intercepted drones launched by Iran-backed militias in Iraq. Mediators are pushing to revive diplomacy and restore an interim ceasefire arrangement. Commercial traffic through the Strait of Hormuz has fallen to its lowest level. Concerns have spread to the Bab al-Mandeb Strait after Houthi rebel threats. Diplomatic efforts continue…

International Business Times

The Houthis Are Seeking To Halt The Flow Of Saudi Oil In The Red Sea. Traffic Is Already Slowing

Traffic through the Bab el-Mandeb has decreased after Yemen's Houthi rebels continued to attack Saudi oil facilities along the Red Sea coast as the group seeks to enforce an embargo of the country.

The Conversation

Bird droppings were a foundation of modern agriculture and American empire

The closure of the Strait of Hormuz, through which roughly one-third of the world’s fertilizer normally passes, has made clear that access to nutrients for crops remains as strategically important in the 21st century as access to oil.

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