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U.S. Strikes Iran Bases Threatening Blocked Hormuz Oil Route

The U.S. military declared on Saturday it had damaged an Iranian bunker housing weapons threatening oil and gas shipments in the Strait of Hormuz, as thousands of Iranians marked Eid al-Fitr with prayer. The U.S. statement appeared designed to calm the concerns of energy markets and of Washington's sceptical international allies, more than 20 of ...

Oil Dips Under $100, Stocks Back in Green Tracking Mideast War

Oil dipped under $100 Friday, but remained far above pre-Mideast war levels with no end in sight to the disruption in supplies of crude. With the conflict heading towards its third week, equity markets were back in the green, having earlier lost ground amid investor worries about an extended crisis that could fan inflation and hammer the global ...

Trump Urges Other Nations' Warships to Protect Gulf Oil Route

U.S. President Donald Trump called for other nations' warships to help safeguard world oil supplies passing through the Strait of Hormuz, a route which is virtually blocked as of Sunday by the threat of Iranian attacks. Despite sustaining heavy bombardments since U.S.-Israeli forces launched a war against Iran on February 28, Tehran has defied ...

Trump Threatens More Strikes on Iran’s Main Oil Export Hub

U.S. President Donald Trump threatened additional strikes on Iran’s key oil export hub at Kharg Island as the war between Iran and the U.S.–Israeli alliance entered its third week, underscoring the growing risk of a prolonged conflict that is already disrupting global energy markets and destabilizing the Gulf region. Speaking to NBC News, ...

Trump Pressures NATO, China over Iran's Closure of Hormuz

President Donald Trump urged NATO partners and China to help reopen the Strait of Hormuz, the critical conduit for crude that Iran has effectively closed, as major economic players began releasing oil reserves on Monday to ward off supply disruptions. Global oil prices have surged by 40 to 50 percent after Iran choked off the waterway and ...

Hormuz Alternative Oil Routes Inadequate to Cope with Demand

Iran's threats against oil tankers transiting the Strait of Hormuz -- a chokepoint through which some 20 percent of global exports pass in peacetime -- has forced countries in the region to seek alternative routes. But analysts warn those routes are not yet sufficient to deal fully with global oil demand. "Saudi Arabia and the UAE can reroute ...

Oil Prices Climb as Fresh Strikes Target Infrastructure

Oil prices surged Tuesday as Iran launched fresh attacks on crude-producing neighbors, while several countries pushed back against U.S. President Donald Trump's demand to help secure the crucial Strait of Hormuz. Prices rebounded from the previous day's sharp losses, which came after the head of the International Energy Agency said more ...

Facts About Strait of Hormuz War Blockage

Key facts and figures about the blockage of the Strait of Hormuz, a crucial shipping route virtually paralyzed by the Middle East war. Around a fifth of global crude oil and liquefied natural gas pass through the waterway in peacetime. The war erupted on February 28 when the US and Israel began bombing Iran, prompting it to retaliate with ...

Israel Says Killed Iran Intel Chief, Tells Military to Hunt Down Officials

Israel said on Wednesday its forces had killed another top Iranian official, Intelligence Minister Esmail Khatib, and said its military was authorised to kill any senior figure of the Islamic republic in its sights. The announcement, the day after Iranian security chief Ali Larijani was confirmed killed in an Israeli strike, is part of a ...

Netanyahu Says Iran 'Decimated,' Tehran Targets Gulf Petro-Facilities

Israeli Prime Minister Benjamin Netanyahu said Thursday that Iran is being "decimated" and it is unclear who is in charge, even as the Islamic Republic kept up attacks on Gulf oil and gas targets that have jolted global markets. Nearly three weeks into the Middle East war launched by Israel and the United States, Netanyahu said Tehran ...

More Than 20 Countries 'Express Their Readiness' to Resolve Hormuz Crisis

More than 20 countries on Saturday said they would contribute to efforts ensuring safe passage in the Strait of Hormuz, condemning Iran's closure of the vital waterway. "We condemn in the strongest terms recent attacks by Iran on unarmed commercial vessels in the Gulf, attacks on civilian infrastructure including oil and gas installations, and ...

More Than 20 Countries 'Express Their Readiness' to Resolve Hormuz Crisis

More than 20 countries on Saturday said they would contribute to efforts ensuring safe passage in the Strait of Hormuz, condemning Iran's closure of the vital waterway. "We condemn in the strongest terms recent attacks by Iran on unarmed commercial vessels in the Gulf, attacks on civilian infrastructure including oil and gas ...

U.S. Temporarily Lifts Sanctions on Iranian Oil, Two Tankers Load at Kharg Island, Sources Say

The U.S. has lifted sanctions on some Iranian oil for 30 days to ease surging oil prices driven by the U.S.-Israeli war on Iran. The U.S. treasury secretary, Scott Bessent, said the waiver would bring about 140 million barrels of oil to global markets and help relieve pressure on energy supply. In a statement on X, Bessent said “In ...

Trump Gives Iran 48 Hours to Open Hormuz as Tehran Strikes Israel

U.S. President Donald Trump on Saturday gave Iran 48 hours to reopen the Strait of Hormuz to shipping or face the destruction of its energy infrastructure, as Tehran launched its most destructive attack yet on Israel. The ultimatum, made just a day after the U.S. leader said he was considering "winding down" military operations after ...

PM Salam: Lebanon Trapped in a War It Did Not Choose, Reasserts State Authority

Lebanon’s government moved to reassert its authority in a cabinet meeting on Thursday, as Prime Minister Nawaf Salam warned that the country is being dragged into a war it neither chose nor controls amid growing concerns over the role Hezbollah is playing to escalate the conflict. Speaking after a cabinet session at the Grand Serail, Salam ...

Iran Awaits Trump Threat to Blow up Power Plants

Iran on Monday faces a deadline by President Donald Trump to open up the crucial Strait of Hormuz or face a major US assault on power plants, as Israel warned of weeks more of war. Israel also gave the clearest signs yet it intends a ground campaign into Lebanon, destroying a key bridge as it vows to crush Hezbollah, the Shia Muslim movement ...

Ship Traffic Down 95% in Strait of Hormuz

Just a trickle of cargo ships and tankers—most of them Iranian—have made it through the Strait of Hormuz since Iranian forces effectively blocked the crucial trade route in the Middle East war. Here are facts and figures about vessels that have passed through the 167-kilometre (104-mile) long strait since the war broke out with US-Israeli ...

Trump Sends Peace Plan as Iran Opens to 'Non-Hostile' Oil Vessels

US President Donald Trump sent a peace plan to Iran as he voiced optimism Tuesday at ending nearly a month of warfare, with Tehran announcing that it will let "non-hostile" oil vessels go through the crucial Strait of Hormuz. The tentative signs of a diplomatic solution came despite new violence, with an Iranian missile causing injuries ...

Temporary Immunity, Ongoing Strikes: Inside the Parallel Tracks of War and Diplomacy in Iran

Even as the war between Iran, the United States, and Israel intensifies on the ground, reports emerging Wednesday, suggest that Washington and Tel Aviv have granted temporary targeting immunity to two senior Iranian officials, Foreign Minister Abbas Araghchi and Parliament Speaker Mohammad Bagher Ghalibaf, for the duration of the current ...

Cautious Optimism as Oil Prices Decline and Stock Markets Rebound

Oil prices continued to decline on Wednesday, leading to a rebound in stock markets, as traders appeared willing to believe in the possibility of a peace plan proposed by Donald Trump to Iran. “Market movements are driven by narratives and headlines: today, everything revolves around the prospect of a ceasefire,” summarized Neil ...

Oil Jumps, Stocks Drop on Uncertainty Over U.S.-Iran Talks

Oil prices jumped and equities slid Thursday as hopes for a peace deal between the U.S. and Iran wavered after Tehran rejected Washington's bid to wind down the nearly four-week war. Markets had been buoyed this week by U.S. President Donald Trump's announcement that strikes targeting Iran's energy infrastructure would be postponed, adding that ...

Israel Strikes Iranian Energy Infrastructure Before U.S. Diplomacy Deadline

Israel struck infrastructure targets across Iran on Friday, with Iranian officials saying the attacks hit two major steel factories, a power plant and multiple nuclear-linked sites as the campaign widened beyond purely military targets. The IDF claimed credit for the strikes on nuclear related facilities, just days after President Trump extended ...

Iran Claims Aluminium Plant Attacks in Gulf as Houthis Join War

Iran claimed on Sunday attacks on two major aluminium plants in the Gulf, further raising the economic stakes of the Middle East war after Yemen's Iran-backed Houthis joined the conflict. The war that began on February 28 with US-Israeli attacks on Iran has mushroomed throughout the region, sending world energy markets into a tailspin and ...

Israel Strikes Tehran as Trump Says Iran Deal May be Reached 'Soon'

Israel said Monday it was striking military targets across Tehran, a day after US President Donald Trump insisted a deal could "soon" be reached, while not ruling out ground operations. Iran also launched fresh strikes on Israel, Kuwait and Saudi Arabia after its electrical facilities came under attack at the weekend, cutting power to parts of ...

Gulf Allies Privately Urge Trump to Press War on Iran: Report

Gulf Arab allies are privately urging President Donald Trump to intensify the war against Iran and avoid a premature settlement, even as the White House considers scaling back its military campaign without securing full control over the Strait of Hormuz, according to a report by the Times of Israel. According to U.S., Gulf, and Israeli officials, ...

Stocks Rally, Oil Dives as Trump Says War to End 'Very Soon'

Equities rallied and oil tumbled Wednesday after US President Donald Trump said the Middle East war would be over in up to three weeks and his Iranian counterpart said Tehran had "the necessary will" to bring it to an end. The remarks came as the economic impact of the conflict worsens, with average US gasoline prices topping $4 a gallon for the ...