Oil prices fall as markets respond to progress in US-Iran talks Oil prices declined on Tuesday as financial markets reacted to signs of progress in negotiations between Washington and Tehran aimed at ending the US-Israeli war on Iran. Brent crude fell 2. 8 percent to $78.
US suspending sanctions on Iranian oil until 21 August The US government has said it is suspending sanctions on Iran until 21 August. The Treasury said in a statement that it was waiving all existing US sanctions on "the Production, Delivery and Sale of Crude Oil, Petrochemical Products, and Petroleum Products of Iranian-Origin through August 21, 2026. " The waiver will also allow the US to import "petrochemical and petroleum products of Iranian origin" for domestic use.
Malaysian airline reduces fares after drop in jet fuel prices AirAsia X Chief Executive Officer Benyamin Ismail, said the Malaysian budget carrier has reduced fares by 5 percent since 15 June and plans to continue adjusting ticket prices as jet fuel costs decline. Lingam said the US-Iran memorandum of understanding had brought welcome relief to the aviation sector, with fuel prices falling significantly from the highs reached during the conflict. "The industry has been really affected by the rise in fuel prices.
Malaysia to lower diesel prices amid confidence in diplomacy Malaysian Prime Minister Anwar Ibrahim has linked a planned reduction in subsidised diesel prices to growing confidence that negotiations aimed at ending the Iran war could ease tensions in the Middle East and stabilise energy markets. According to Malaysia's Star newspaper, Anwar said his government had decided to lower, rather than increase, subsidised diesel prices from next month despite global uncertainty. He said Pakistani Prime Minister Shehbaz Sharif, who has played a key role in coordinating negotiations between the United States and Iran, had expressed confidence that the crisis in the Middle East could be eased.
Tehran says talks advance on sanctions and frozen assets Iran said "good progress" was made during the first day of talks with the United States on issues including the release of Iranian assets and relief from oil-related sanctions. Foreign ministry spokesman Esmaeil Baghaei said the Iranian delegation stressed that the conflict must end on all fronts, including Lebanon, while discussions also addressed "the issuance of necessary licenses for oil sales and the release of Iranian assets". Baghaei said discussions were held on the safe passage of ships through the Strait of Hormuz and “a mechanism was set up, which is important”.
Oil prices rise amid uncertainty over US-Iran talks Oil prices rose on Sunday as traders assessed the implications of ongoing US-Iran negotiations and the durability of the ceasefire between the two countries. According to Reuters, Brent crude futures climbed by $1. 09, or 1.
Iran says talks covered frozen assets, oil sanctions relief proposal Hussein Gurbanzadeh, a member of Iran’s team negotiating with the US, told state television that the issue of our frozen assets and the arrangements for their release has been discussed in today’s negotiations. He added that discussions had focused on sanctions relief tied to Iran’s energy sector. “In Switzerland, we discussed the temporary exemption from sanctions on oil and its derivatives, and the final draft of a proposal on this matter has been completed,” he said.
Sanctions waivers for Iranian oil to be issued soon, says Iranian negotiator A draft has been finalised regarding sanctions waivers for Iranian oil, a member of Iran's team negotiating with the US told state media on Sunday. They added that the waivers would be issued soon.
Oil sector could become early test of US-Iran accord, minister says Iran's oil industry will serve as a major test of any future agreement between Tehran and Washington, Iraninan oil minister Mohsen Paknejad has said. According to the ministry's Shana news agency, Paknejad said that the sector would demonstrate whether Western countries remain committed to the spirit of a final peace agreement should one be reached. Paknejad said Iran's oil industry could offer significant investment opportunities to the global economy in a post-agreement environment.
Trump threatens US tolls on Hormuz strait if Iran talks fail US President Donald Trump warned Saturday that Washington could impose tolls on the vital Strait of Hormuz waterway if negotiators are unable to complete a deal to end the Iran war. There will be no tolls "unless they are imposed by and for the United States of America, should the deal not be completed, for services rendered as the Guardian Angel to the countries of the Middle East for purposes of both past, present, and future reimbursement of costs," Trump posted on Truth Social.
Iran plans to charge insurance fees to vessels in Hormuz after US deal expires Submitted by MEE staff on Fri, 06/19/2026 - 17:19 Iran lays the groundwork for a new transit system in critical waterway, but will need Oman's buy-in to shore up legal defence Cargo ships are pictured off the coast of the Khor Fakkan container terminal, the only natural deep-sea port in the region and one of the major container ports in the emirate of Sharjah, along the Gulf of Oman, on 19 June 2026 (AFP) Off Iran wants to collect an “insurance fee” from vessels transiting the Strait of Hormuz after the 60-day agreement with the US expires, according to multiple media reports. The fee would effectively allow Iran to cement its sovereignty over the Strait of Hormuz, but would likely require the cooperation of neighbouring Oman, whose territorial waters border Iran’s. Iran agreed not to charge any fees in the waterway during the 60-day ceasefire with the US, termed the Islamabad Memorandum of Understanding, but the agreement left open the possibility of a new system afterwards.
Iran requiring ships to submit requests to cross Strait of Hormuz 48 hours in advance The Iranian maritime authority is requiring ships to submit requests to pass through the Strait of Hormuz 48 hours in advance of crossing, Al Nahar News reported. Al Nahar cited the Persian Gulf Maritime Organization, which stated that the advanced requests are needed to prevent delays in the Strait.
Iran to waive Strait of Hormuz fees during 60-day negotiations Iran 's Strait of Hormuz authority said on Friday it would waive planned fees to use the waterway during the 60-day negotiation period under the memorandum of understanding signed with the United States this week. Ships seeking passage through the strait while the interim agreement is in force must submit transit requests at least 48 hours before arrival, the Persian Gulf Strait Authority (PGSA) said in a notice. Iran will waive fees for security, safety, environmental services and related insurance during the 60-day window, while requiring vessels to coordinate routes and transit times in advance to avoid mine-affected areas, according to PGSA.
France warns UN sanctions on Iran won't lift without its sign-off France wants to play a role in talks dealing with Iran 's nuclear programme and will not approve the lifting of UN sanctions unless it is satisfied by the terms of a final accord, its foreign minister said. Jean-Noel Barrot said on Friday there would be no stability in the region unless US talks with Iran also dealt with Iran's ballistic missile programme and support for proxies. "The return for major concessions that will be asked of Iran is the lifting of sanctions, sanctions that were taken at the United Nations," he said.
US says it lifted blockade on Iranian ports US Vice President JD Vance has announced that Washington has lifted its blockade on Iranian ports as the Strait of Hormuz reopens to commercial shipping. "Centcom has allowed north of a dozen ships to go through our naval blockade. And so we're also honouring our end of the early part of the agreement," he said.
Iran's Strait Authority to facilitate ships' passage through Hormuz Iran's Supreme National Security Council said in a statement on Thursday that the country's Persian Gulf Strait Authority will take measures to issue fast authorisations to ships wanting to pass through the Strait of Hormuz as per the Memorandum of Understanding (MoU) signed by Tehran and Washington. Measures on mine clearance will be carried out under the Islamabad MoU, though ships are advised to stick to the path and timing allocated by the authority, the statement published by state media added. Meanwhile, the maritime security threat level in the Strait of Hormuz has been reduced to moderate, said the US-led Combined Maritime Forces' Joint Maritime Information Centre.
Vance: US let at least 12 ships pass blockade after Iran deal The US military has allowed at least 12 ships to pass through its naval blockade of Iran's ports following the signing of a memorandum of understanding between Washington and Tehran, Vice President JD Vance said on Thursday. "On the blockade, Centcom has allowed north of a dozen ships to go through our naval blockade, and so we're also honouring our end of the early part of the agreement," Vance told journalists, referring to the US military command responsible for the Middle East.
Hegseth: US can reimpose blockade if Iran doesn't fulfil commitments The United States will restart military action and reimpose a blockade if Iran does not fulfill its commitments under its agreement with the US, Defence Secretary Pete Hegseth told reporters on Thursday. “The president has pointed out that we will be prepared to recommence if underneath the timeline of these talks, Iran does not do what it says it's going to do,” Hegseth said in Brussels after meeting Nato defence ministers. Hegseth said the deal came from a position of US strength.
Saudi supertankers sail through Strait of Hormuz following Iran deal Three supertankers sailing under the flag of Saudi Arabia and carrying six million barrels of crude oil onboard sailed through the Strait of Hormuz hours after the US and Iran signed their ceasefire deal, according to ship tracking data. The sailings from Saudi Arabian ports were the biggest departures through the strait in weeks, according to Reuters analysis of shipping movements.
Trump suggests sanctions on Iran could be removed once 'they behave' US President Donald Trump on Wednesday suggested that sanctions on Iran would be removed once "they behave. " "As far as sanctions are concerned, at some point, you know, we have sanctions which will never let them rebuild. They would have no money, they would be in poverty, the 91 million people would starve, so something will happen as soon as they behave.
