Sign in Subscribe

strait of hormuz

Oil prices slip, stocks rally as Washington, Tehran bicker over talks

Oil prices slip, stocks rally as Washington, Tehran bicker over talks

Oil prices fell and stock markets rallied Wednesday on reports of a US plan to end the war with Iran -- which promptly rejected Washington's overtures, according to state media. After nearly four weeks of conflict, investors jumped on signs that hostilities could be winding down, with the safe-

Iran Hormuz 'toll booth': legally risky route for shippers

Here are the latest facts about Iran's control of the Strait of Hormuz, a crucial trade waterway virtually closed off by its forces in the Middle East war. A fifth of the world's oil and liquefied natural gas passed through the strait in peacetime -- before the

Mideast war sparks long queues at Kinshasa petrol stations

Mideast war sparks long queues at Kinshasa petrol stations

Long queues of cars and motorcycles have built up at petrol stations in DR Congo's sprawling capital Kinshasa over fears of shortages and price hikes after Iran's blockade of a crucial shipping conduit. In retaliation for US and Israeli strikes that began more than three weeks

IEA chief says 'ready' to release more oil reserves if needed

IEA chief says 'ready' to release more oil reserves if needed

The head of the International Energy Agency (IEA) said Wednesday that he was "ready" to approve the release of more oil reserves if needed to cushion the impact of the Middle East war on global supplies. Fatih Birol made the comments on a visit to Tokyo, where Japanese

US reportedly sends peace plan as Iran opens to 'non-hostile' oil vessels

US reportedly sends peace plan as Iran opens to 'non-hostile' oil vessels

Washington sent a peace plan to Iran, US media reported, as Donald Trump voiced optimism Tuesday at ending nearly a month of warfare and Tehran announced that it will let "non-hostile" oil vessels go through the crucial Strait of Hormuz. The tentative signs of a diplomatic solution

Top WTO official sounds fertiliser warning over Middle East war

Top WTO official sounds fertiliser warning over Middle East war

Disruptions to fertiliser supplies caused by the Middle East war pose a double threat to global food security through scarcity and high prices, a top World Trade Organization official has warned. Iran has virtually shut the Strait of Hormuz, choking a vital transit route for oil and gas -- as well

Oil prices jump as Trump's Iran claims raise doubts

Oil prices jump as Trump's Iran claims raise doubts

Oil prices jumped Tuesday as traders turned cautious over the prospect of a negotiated agreement between the United States and Iran to end the Middle East war. European stocks held largely steady while Wall Street's major indexes lost ground, after strong gains Monday on President Donald Trump'