President Donald Trump has vowed to maintain the US blockade of the Strait of Hormuz until Iran agrees to give up its nuclear weapons program. Speaking directly on the terms, Trump said: "At this moment, there will never be a deal unless they agree that there will be no nuclear weapons." The statement rules out near-term negotiations unless Iran meets that condition upfront. The Strait of Hormuz is the narrow waterway through which roughly a fifth of the world's oil supply passes. A sustained blockade there directly tightens global oil supply, pushing fuel prices higher. Pentagon officials told a Capitol Hill hearing the conflict has cost the US $25 billion so far. Defense Secretary Pete Hegseth faced pointed criticism of the administration's strategy during that session, signaling growing pressure from Congress over both the cost and the direction of the war. Gas prices are already climbing as markets price in a prolonged disruption. Watch for further moves in oil futures and any signal from Iran on whether it is willing to meet Trump's stated condition.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
Venezuela's twin earthquakes, magnitudes 7.2 and 7.5, have killed at least 164 people and injured 971, interim president Delcy Rodriguez confirmed Thursday. The quakes are the country's strongest since 1900, collapsing buildings across Caracas and prompting a state of emergency, with the death toll expected to rise as
