Strait of Hormuz

Iran sends response to U.S. amendments on draft peace agreement via Pakistani mediators, pushing international oil prices sharply lower as Brent crude falls below $110.

The CEO of Yara, one of the world’s largest fertiliser producers, warns that disruption to fertiliser supplies due to the Iran conflict could cost up to 10 billion meals per week, with poorest countries hit hardest.

Brent crude surged past $126 a barrel — the highest since 2022 — after reports the US military is preparing new strike options against Iran. The ongoing closure of the Strait of Hormuz continues to disrupt global energy supplies.

Brent crude briefly surged above $126 per barrel, the highest since 2022, after reports the US military will brief Trump on new strike options against Iran.

International oil prices briefly exceeded $126 per barrel, the highest level since 2022, driven by escalating US-Iran tensions and concerns over the Strait of Hormuz.

Brent crude briefly surged above $126 a barrel, the highest since 2022. Axios reports that US Central Command has prepared plans for ‘short and powerful’ strikes on Iran as peace talks stall and the Strait of Hormuz remains effectively closed.

CNN exclusively reports that the US military is developing operational plans to target Iran’s Strait of Hormuz defensive installations if ceasefire negotiations fail.

According to an Axios exclusive, senior US military commanders will brief President Trump on new military options against Iran on Thursday, sending oil prices higher.

International oil prices surged to their highest level since 2022 after President Trump warned the naval blockade against Iran could last months, as the US seeks international coalition to reopen the Strait of Hormuz.

Iran’s Supreme Leader Ayatollah Khamenei issued a hardline statement declaring that Americans have no place in the Persian Gulf and that a ’new phase’ is emerging in the Gulf region, signaling Iran’s refusal to concede on the Strait of Hormuz navigation issue.