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OPEC said consumption would rebound later and raised its demand growth forecast for 2027. File | Photo Credit: Reuters OPEC on Thursday (June 11, 2026) lowered its forecast for world oil demand growth in 2026 to 970,000 barrels per day, the producer group said in its monthly report, marking the second straight downward revision. The group…
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“Any vessel traffic through the Strait of Hormuz will be targeted” the Khatam al-Anbiya command said, according to Tasnim news agency. File | Photo Credit: Reuters Iran’s military command said on Thursday (June 11, 2026) it will target any ship transiting the Strait of Hormuz, after it struck two vessels attempting to pass through the…
Ships and tankers in the Strait of Hormuz off the coast of Musandam, Oman. The Strait of Hormuz remained closed on April 19, 2026 in the stand-off between Iran and the United States | Photo Credit: Reuters The Strait of Hormuz remained closed on Sunday (April 19, 2026) in the stand-off between Iran and the…
Read More “Iran says final deal still far off as Strait of Hormuz remains closed” »
Pakistan’s Deputy Prime Minister and Minister for Foreign Affairs Senator Mohammad Ishaq Dar meets with Chinese Foreign Minister Wang Yi, at the Diaoyutai State Guesthouse in Beijing, China, on March 31, 2026. | Photo Credit: Press Information Department (PID) via Reuters China and Pakistan on Tuesday (March 31, 2026) put forward a five-point peace proposal…
U.S. Treasury Secretary Scott Bessent. File | Photo Credit: AP The U.S. Navy, perhaps with an international coalition, will escort vessels through the Strait of Hormuz when it is militarily possible, U.S. Treasury Secretary Scott Bessent told Sky News in an interview on Thursday (March 12, 2026). “My belief, that as soon as it is…
Nearly a fifth of global oil production passes through the Strait of Hormuz. File | Photo Credit: Reuters U.S. forces have destroyed 10 Iranian mine-laying vessels, President Donald Trump said on Wednesday (March 11, 2026), warning Tehran of unprecedented military consequences if it targets the Strait of Hormuz. His comments came after Tehran vowed that…
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The U.S. stock market careened through a manic Monday (March 9, 2026), going from a steep early loss to a solid gain as worries turned into hope that the war with Iran may not last that long. Oil prices whipped from nearly $120 per barrel, their highest since 2022, back toward $90. The S&P 500…
Read More “U.S. stocks erase big early loss and rise after oil prices whip back below $90” »
A car rides along the coast of Musandam overlooking the Strait of Hormuz amid the U.S.-Israeli conflict with Iran, Oman, on March 2, 2026. | Photo Credit: Reuters An Iranian Revolutionary Guards senior official said on Monday (March 2, 2026) that the Strait of Hormuz is closed and Iran will fire on any ship trying…
Read More “Iran vows to attack any ship trying to pass through Strait of Hormuz” »