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The Latest Breaking News from the Strait of Hormuz

Missiles targeting Saudi oil refineries shot down

Saudi Arabia intercepted two ballistic missiles from Yemen targeting oil refineries in Yanbu. U.S. forces launched air strikes on Iran after Houthi attacks on Saudi tankers. President Trump vowed major military punishment for Iran and its Houthi allies. The Strait of Hormuz remains a key waterway, with Houthi actions disrupting…

The Economic Times

Trump has no remaining levers to pull as oil hovers near the $100 ‘psychological’ threshold

Depleted emergency oil reserves create a dangerous game if the Strait of Hormuz and the Red Sea are effectively shuttered.

Fortune

Ray Dalio Says 'Final Battle' At the Strait of Hormuz Is Here— And It Could Decide If the US Empire 'Survives or Falls'

Billionaire investor Ray Dalio said Friday that the Iran war’s outcome hinges entirely on the Strait of Hormuz, warning a decisive clash is imminent.

Benzinga

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Crude oil prices rise 10% this week but China enters fray to push for end to Iran war. What’s next?

Crude oil futures experienced a significant decline on Friday. This drop followed reports of China's initiative to restart stalled US-Iran peace negotiations. Despite the fall, both Brent and West Texas Intermediate crude are set for weekly gains. Geopolitical developments continue to heavily influence global oil prices and supply concerns. Experts…

The Economic Times

The World's Oil Tankers Are Seeking To Flee Hormuz. The Bill Is $2.5 Million Per Ship

The combined disruption of the Strait of Hormuz and the Bab el-Mandeb is forcing some shipments to take a circuitous route around Africa's Cape of Good Hope, making voyages longer and $ 2.5 million more expensive.

International Business Times

Oil Prices Fall Back as Red Sea Oil Shipments Continue

September WTI crude oil (CLU26 ) is down -3.62 (-4.04%), and September RBOB gasoline (RBU26 ) is down -0.0929 (-2.79%). WTI crude oil prices (CLU26 ) are down by about -4% today, giving back much of Thursday’s rally of +6.17%. Meanwhile, Sep Brent crude oil prices (CBU26 ) have fallen...

Barchart

Gulf states seen splurging on debt to build new Hormuz bypasses

Persian Gulf nations are preparing to raise more debt to fund ports, pipelines and transport links that reduce reliance on the Strait of Hormuz as the Iran war continues. Bond issuance has already reached a record $112 billion this year, with investors expecting further supply despite strong demand for Gulf…

The Economic Times

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Explosions are heard near a US base in northern Iraq as US-Iran fighting escalates

Explosions sounded near a U.S. base in Iraq and sirens rang out in Bahrain on Friday. The U.S. military conducted its thirteenth night of strikes against Iran in recent weeks. Iran has attacked ships in the Strait of Hormuz and targeted U.S. assets and allies. Houthi rebels also targeted Saudi…

The Economic Times

In India, Iran war forces Diet Coke to roll out a bigger can, heftier price tag

Coca-Cola has raised Diet Coke prices in India by over 10% after the ongoing Middle East conflict disrupted supplies of aluminium cans. The company is importing costlier 330-ml cans from Southeast Asia as supplies of its usual 300-ml cans have been hit by shipping disruptions through the Strait of Hormuz.

The Economic Times

US strikes Iran and Bahrain warns of incoming fire as clashes over shipping routes escalate

Bahrain activated sirens amid escalating U.S. and Iran strikes over the Strait of Hormuz. Yemen's Houthi rebels targeted Saudi oil tankers, potentially widening the conflict. International oil prices surged past one hundred dollars a barrel due to these disruptions. The Houthis also threatened to shut down the Bab el-Mandeb Strait…

The Economic Times

Iran-US war latest: Trump insists Tehran can’t have a nuclear weapon as Houthis claim missile attack on Saudi Arabia

Trump says he doesn’t ‘think it’s time yet’ to agree to a deal

The Independent UK

1,500 ships trapped in Gulf of Hormuz are quietly multiplying an underwater army that could unleash World's biggest bioinvasion event

Gulf of Hormuz underwater army: Nearly fifteen hundred ships stuck in the Persian Gulf after fighting closed the Strait of Hormuz. These idle vessels are now becoming breeding grounds for marine invasive species, whose build-up of organisms on ship hulls increases fuel consumption significantly. Scientists urge stricter rules to prevent…

The Economic Times

Oil Price Today (July 24): Crude oil dips below $100 but up 13% this week as supply tensions mount. $120 per barrel possible?

Brent futures fell 81 cents, or 1%, to $99.68 a barrel at 0126 GMT, but were still set for a 13.5% rise this week. West Texas Intermediate (WTI) futures dropped 70 cents, or 0.76%, to $91.49 a barrel and were on track for a 11% weekly gain.

The Economic Times

Oil crosses $100: A 'perfect hurricane' can trigger bigger shock soon

Brent crude has surged past $100 as escalating Middle East tensions threaten two critical oil chokepoints — the Strait of Hormuz and Bab el-Mandeb — at the same time. While markets were already grappling with disruptions in Hormuz due to the US-Iran conflict, fresh Houthi attacks on Saudi oil tankers…

The Economic Times

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Barchart

Oil Prices Soar as US-Iran Conflict Expands to Red Sea

September WTI crude oil (CLU26 ) on Wednesday closed up +2.49 (+2.95%), and September RBOB gasoline (RBU26 ) closed up +0.0186 (+0.58%). WTI crude oil prices (CLU26 ) are up more than +6% today after the Iran-backed Houthis launched a missile and drone attack on two Saudi Arabian oil tankers...

International Business Times

Iran Is Seeking To Dominate The Strait Of Hormuz. Gulf Countries Are Planning To Bypass It

At least seven major pipeline projects are under construction, in the planning stage or being considered as countries seek to bypass the Strait of Hormuz.

Roll Call

Trump linked Iran’s Hormuz attacks, midterms. Senators have doubts

Some foreign-policy-minded senators are dismissing President Donald Trump’s assessment that Iranian officials have been disrupting the Strait of Hormuz to influence the midterm elections. Several senators — Democratic and Republican — furrowed brows or shook their heads Wednesday when asked about Trump a day earlier replying “probably” when asked if…

Euronews

Gulf oil producers race to build alternatives to the Strait of Hormuz as oil hits $100

Gulf oil producers are spending billions of dollars on pipelines designed to route crude around the Strait of Hormuz, as Iran's grip on the waterway drags on causing oil prices to hit $100 a barrel for the first time since May.

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The Independent UK

Mideast oil producers step up plans to bypass the Strait of Hormuz

Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz

The Independent UK

Houthis say they attacked 2 Saudi oil tankers in the Red Sea as US carries out 12th night of strikes

Yemen’s Iran-backed Houthi rebels says they have attacked two Saudi oil tankers in the Red Sea, and the U.S. military said it conducted a 12th night of strikes against Iran as the two countries vie for control of vital shipping lanes

The Economic Times

Hormuz, Red Sea spark a 1,000% war-risk premium shock

War-risk insurance premiums have surged by as much as 1,000% as tensions across the Strait of Hormuz and the Red Sea disrupt shipping. Fresh Houthi attacks and the US-Iran conflict are raising voyage costs, increasing crude import expenses for India and adding fresh uncertainty to global oil markets.

The Independent UK

Iran-US war latest: Oil prices surge above $100 as Trump weighs broader Iran offensive

‘They haven’t received enough pain yet,’ president warns after attacks on ships crossing the Red Sea

France 24

UN chief says Middle East conflict is at the 'edge of the imaginable'

Ongoing conflict in the Middle East has pushed the region to the "edge of the unimaginable", UN Secretary-General Antonio Guterres warned on Thursday, as Houthi attacks on shipping in the Red Sea threatened to escalate the conflict further. President Donald Trump said the US would hold Iran responsible for these…

The Economic Times

Oil Price Today (July 23): Crude oil crosses $95 as US strikes enter 12th day. Why Goldman says $120 is possible?

Brent crude futures rose $1.93, or 2%, to $96 a barrel, their highest level since June 8. The benchmark had ended the previous session more than $3 higher at $94.07, just below a six-week high. U.S. West Texas Intermediate crude gained $1.44, or 1.7%, to $88.27 after advancing nearly 3%…

The Economic Times

Oil prices rise to six-week high as US-Iran tensions escalate

Oil prices climbed to a six-week high on Thursday. This surge followed new United States strikes on Iran and Houthi attacks. Iran's Revolutionary Guards reported an oil tanker caught fire near the Strait of Hormuz. The Houthis also threatened vessels carrying Saudi oil in the Red Sea. These events threaten…

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