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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.
Brent crude fell to $73.98 and WTI dropped below $70 on Wednesday as 20 million barrels cleared the Strait of Hormuz in 24 hours and the US authorised Iranian oil sales.
U.S. Energy Secretary Chris Wright said American action has ended Iran's ability to close the Strait of Hormuz, citing 72 ships carrying 19 million barrels of oil through the waterway in the past 24 hours. The claim, if accepted by markets, could reduce the longstanding geopolitical risk premium in global oil prices.
US forces struck Iranian missile, drone, and radar sites after Washington accused Tehran of attacking a commercial ship in the Strait of Hormuz, while Iran's Revolutionary Guards retaliated against US positions in the Gulf.
The US struck Iran after an attack on a cargo ship in the Strait of Hormuz, and Iran's naval forces responded by hitting what it described as US military targets. The exchange marks a direct military confrontation in a waterway that carries roughly a fifth of global oil trade.
Gold is on track for a fourth consecutive weekly decline as rising U.S. rate-hike bets strengthen the dollar, pressuring the metal's price. A fragile U.S.-Iran agreement and a Strait of Hormuz incident add geopolitical risk but have not been enough to offset the dollar's pull.
The U.S. has struck Iran after Trump accused Tehran of violating a 60-day ceasefire in the Strait of Hormuz, collapsing the pause in hostilities during ongoing peace talks. The strike raises immediate concerns about energy supply disruption through the strait, which carries roughly a fifth of the world's oil.
US Vice President JD Vance rebuked Israeli critics of the US-Iran memorandum of understanding signed at Versailles, warning Israeli lawmakers not to attack their "only powerful ally." The deal opens the Strait of Hormuz and starts a 60-day timeline for a final agreement, with Iran's sanctions relief contingent on
Iran declared the Strait of Hormuz closed, citing Israeli strikes on southern Lebanon as ceasefire violations. U.S. Central Command said 55 merchant ships still transited the strait on Saturday, signaling the closure has not yet been enforced but putting global energy markets on high alert.
Pakistan's PM Shehbaz Sharif and Field Marshal Asim Munir flew to Burgenstock, Switzerland, to attend US-Iran technical talks following a 14-point peace deal signed Thursday. Iran warned the entire agreement could collapse if either side fails to meet its commitments within the 60-day implementation window.
Iran has declared the Strait of Hormuz shut, with ship tracking data confirming a sharp fall in transits through the waterway that carries roughly 20 percent of global oil supply.
Iran's joint military command has closed the Strait of Hormuz, citing continued Israeli military operations in Lebanon. The move threatens roughly 20 percent of the world's daily traded oil supply and complicates ongoing nuclear diplomacy.
The US and Iran agreed on a 60-day roadmap toward a final deal after marathon talks in Burgenstock, Switzerland, mediated by Pakistan and Qatar. The agreement sets up nuclear and sanctions working groups, a Strait of Hormuz communications line, and a Lebanon de-confliction cell, with Iran securing early oil export
Pakistan PM Shehbaz Sharif says a US-Iran peace deal, called the Islamabad Memorandum of Understanding, is expected to be signed electronically within 24 hours. The deal would formally end a conflict that began in February 2026 and nearly escalated again this week after strikes near the Strait of Hormuz.
US Vice President JD Vance, Iran's Parliament Speaker Ghalibaf, and Pakistan's PM Shehbaz Sharif have arrived at Switzerland's Burgenstock for technical talks on implementing the June 17 Islamabad MoU.
US Vice President JD Vance arrived in Switzerland for direct talks with Iran as the IRGC announced a Strait of Hormuz closure that the US military contests. President Trump declared no Hormuz tolls for 60 days, signaling a diplomatic window while oil markets brace for elevated risk premiums.
President Donald Trump announced on Truth Social that a deal to end the US-Iran conflict will be signed on Sunday, with the Strait of Hormuz reopening immediately after. The strait carries roughly 20 percent of global oil supply, so a confirmed deal could push crude prices sharply lower.
Asian stock markets surged and oil prices fell after the United States and Iran confirmed a deal to end hostilities and reopen the Strait of Hormuz. The agreement removes a major threat to global energy supply, cutting oil import costs for Asia and easing inflation pressure across key economies.
President Trump said a nuclear deal with Iran could be signed over the weekend, with documents in "pretty final shape," and confirmed the agreement would include opening the Strait of Hormuz. A credible deal would remove a major oil-price risk premium and could add Iranian crude supply back to global markets.
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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.
Yesterday · 3 min · Global Affairs
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.
Yesterday · 3 min · Global Affairs
Brent crude fell to $73.98 and WTI dropped below $70 on Wednesday as 20 million barrels cleared the Strait of Hormuz in 24 hours and the US authorised Iranian oil sales.
2d ago · 4 min · Markets
U.S. Energy Secretary Chris Wright said American action has ended Iran's ability to close the Strait of Hormuz, citing 72 ships carrying 19 million barrels of oil through the waterway in the past 24 hours. The claim, if accepted by markets, could reduce the longstanding geopolitical risk premium in global oil prices.
2d ago · 3 min · Global Affairs
US forces struck Iranian missile, drone, and radar sites after Washington accused Tehran of attacking a commercial ship in the Strait of Hormuz, while Iran's Revolutionary Guards retaliated against US positions in the Gulf.
3d ago · 4 min · Global Affairs
The US struck Iran after an attack on a cargo ship in the Strait of Hormuz, and Iran's naval forces responded by hitting what it described as US military targets. The exchange marks a direct military confrontation in a waterway that carries roughly a fifth of global oil trade.
3d ago · 3 min · Global Affairs
Gold is on track for a fourth consecutive weekly decline as rising U.S. rate-hike bets strengthen the dollar, pressuring the metal's price. A fragile U.S.-Iran agreement and a Strait of Hormuz incident add geopolitical risk but have not been enough to offset the dollar's pull.
3d ago · 3 min · Markets
The U.S. has struck Iran after Trump accused Tehran of violating a 60-day ceasefire in the Strait of Hormuz, collapsing the pause in hostilities during ongoing peace talks. The strike raises immediate concerns about energy supply disruption through the strait, which carries roughly a fifth of the world's oil.
3d ago · 3 min · Global Affairs
US Vice President JD Vance rebuked Israeli critics of the US-Iran memorandum of understanding signed at Versailles, warning Israeli lawmakers not to attack their "only powerful ally." The deal opens the Strait of Hormuz and starts a 60-day timeline for a final agreement, with Iran's sanctions relief contingent on
5d ago · 4 min · Global Affairs
Iran declared the Strait of Hormuz closed, citing Israeli strikes on southern Lebanon as ceasefire violations. U.S. Central Command said 55 merchant ships still transited the strait on Saturday, signaling the closure has not yet been enforced but putting global energy markets on high alert.
5d ago · 4 min · Global Affairs
Pakistan's PM Shehbaz Sharif and Field Marshal Asim Munir flew to Burgenstock, Switzerland, to attend US-Iran technical talks following a 14-point peace deal signed Thursday. Iran warned the entire agreement could collapse if either side fails to meet its commitments within the 60-day implementation window.
5d ago · 4 min · Global Affairs
Iran has declared the Strait of Hormuz shut, with ship tracking data confirming a sharp fall in transits through the waterway that carries roughly 20 percent of global oil supply.
6d ago · 4 min · Global Affairs
Iran's joint military command has closed the Strait of Hormuz, citing continued Israeli military operations in Lebanon. The move threatens roughly 20 percent of the world's daily traded oil supply and complicates ongoing nuclear diplomacy.
7d ago · 4 min · Global Affairs
The US and Iran agreed on a 60-day roadmap toward a final deal after marathon talks in Burgenstock, Switzerland, mediated by Pakistan and Qatar. The agreement sets up nuclear and sanctions working groups, a Strait of Hormuz communications line, and a Lebanon de-confliction cell, with Iran securing early oil export
8d ago · 4 min · Global Affairs
Pakistan PM Shehbaz Sharif says a US-Iran peace deal, called the Islamabad Memorandum of Understanding, is expected to be signed electronically within 24 hours. The deal would formally end a conflict that began in February 2026 and nearly escalated again this week after strikes near the Strait of Hormuz.
8d ago · 4 min · Global Affairs
US Vice President JD Vance, Iran's Parliament Speaker Ghalibaf, and Pakistan's PM Shehbaz Sharif have arrived at Switzerland's Burgenstock for technical talks on implementing the June 17 Islamabad MoU.
8d ago · 4 min · Global Affairs
US Vice President JD Vance arrived in Switzerland for direct talks with Iran as the IRGC announced a Strait of Hormuz closure that the US military contests. President Trump declared no Hormuz tolls for 60 days, signaling a diplomatic window while oil markets brace for elevated risk premiums.
9d ago · 4 min · Global Affairs
President Donald Trump announced on Truth Social that a deal to end the US-Iran conflict will be signed on Sunday, with the Strait of Hormuz reopening immediately after. The strait carries roughly 20 percent of global oil supply, so a confirmed deal could push crude prices sharply lower.
9d ago · 3 min · Global Affairs
Asian stock markets surged and oil prices fell after the United States and Iran confirmed a deal to end hostilities and reopen the Strait of Hormuz. The agreement removes a major threat to global energy supply, cutting oil import costs for Asia and easing inflation pressure across key economies.
15d ago · 3 min · Global Affairs
President Trump said a nuclear deal with Iran could be signed over the weekend, with documents in "pretty final shape," and confirmed the agreement would include opening the Strait of Hormuz. A credible deal would remove a major oil-price risk premium and could add Iranian crude supply back to global markets.
16d ago · 3 min · Global Affairs