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strait of hormuz

War in the Middle East: latest developments

War in the Middle East: latest developments

The latest developments in the Middle East war: - Pakistan pushes for talks - Pakistan's Prime Minister Shehbaz Sharif said he met with the Saudi de facto ruler Crown Prince Mohammed bin Salman in Jeddah, before a possible second round of US-Iran peace talks. Iran has targeted US allies

US announces new sanctions against Iran oil sector

US announces new sanctions against Iran oil sector

The United States announced Wednesday it is tightening sanctions against Iran's oil industry as Tehran keeps up its closure of the Strait of Hormuz as part of the Mideast war. The new punishment targets oil transport infrastructure by slapping sanctions on more than two dozen people, companies and

IMF chief warns of 'tough times' if oil prices stay high

IMF chief warns of 'tough times' if oil prices stay high

IMF chief Kristalina Georgieva warned Wednesday of difficult times ahead for the global economy if war in the Middle East is unresolved and oil prices stay high, adding that inflation risks could seep into food prices. "We must brace for tough times ahead" if the conflict persists, she

S&P 500, Nasdaq end at records as markets bet on US-Iran accord

S&P 500, Nasdaq end at records as markets bet on US-Iran accord

Major Wall Street stock indices finished at records Wednesday, extending an upward climb on optimism about an accord in the US-Iran conflict as the White House signaled plans for more talks. After a mixed day on European stock markets, both the broad-based S&P 500 and tech-

Iran economic fallout is temporary, Hassett says

(The Center Square) – The economic fallout of the U.S. conflict in Iran will be temporary, National Economic Council Director Kevin Hassett said on Wednesday. Hassett touted the Trump administration’s policies to reduce prices for items like eggs and said the economy can bounce back from a temporary increase

Hormuz shipping muted as US blockade takes hold: tracking data

Hormuz shipping muted as US blockade takes hold: tracking data

A trickle of ships crossed the Strait of Hormuz Tuesday and Wednesday as a US blockade appeared to further curb traffic in the trade route already paralysed by Iranian forces, marine tracking data showed. The crucial waterway normally sees about a fifth of global crude oil and liquefied natural gas

Trump puts spotlight on China, Iran's top oil consumer

(The Center Square) – With the blockade of Iranian ports moving toward its third day, China, Iran’s largest importer of oil, is vowing not to send weapons to the Islamic Republic. President Donald Trump confirmed circulated reports that China could be supplying weapons to Iran. “[China] have agreed not to