Re-opening the Strait of Hormuz would bring vital relief for many economies, but developing countries will continue to grapple with increased food and fuel costs, according to a new UN report released on Tuesday.
Vessels stranded for months have started moving in larger numbers, but many pulled back over the weekend after Iran and the U. S. exchanged attacks.
New Delhi, [India] June 30 (ANI): India's crude oil imports have largely recovered to pre-conflict levels despite months of disruptions in the Middle East, with refiners successfully diversifying supplies by increasing purchases from Russia, the United States, Oman, West Africa and South America, according to an HSBC Global Research report.
Oman does not support transit fee on ships in Hormuz, minister says Oman's foreign minister Badr bin Hamad Albusaidi has said Muscat “does not support imposing transit fees” on ships passing through the Strait of Hormuz, while leaving the door open to charges for optional maritime services. In remarks to French radio station Monte Carlo Doualiya, which have been posted on X by his ministry, Albusaidi said fees for "maritime, environmental and navigational services" could be discussed voluntarily with beneficiary countries and shipping companies. Albusaidi said such services could include improving navigational safety, protecting waters from pollution and strengthening preparedness for accidents or emergencies.
New posts 19:33 Traffic In Strait Of Hormuz Picks Up Maritime traffic in the Strait of Hormuz, a key artery for global oil and gas supplies, picked up on June 29 after a lull over the weekend, which saw an attack on a Qatari tanker that prompted a US military response.
Shipping continues through Hormuz despite regional tensions Vessel traffic through the Strait of Hormuz continued over the weekend despite security concerns and attacks on two ships, according to ship-tracking provider MarineTraffic. The organisation said 108 verified transits were recorded over three days. “Activity was highest on 26 June, with 48 crossings, followed by 38 crossings on 27 June and 22 crossings on 28 June,” it said.
Amritsar (Punjab) [India], June 29 (ANI): After nearly four months of conflict, a tenous peace deal between Iran and the United States has seen the crucial energy chokepoint of the Strait of Hormuz open to sea traffic. Oil tankers and other vessels with critical Oil supplies are now transiting freely through the Strait.
New Delhi [India], June 29 (ANI): The US-Israel strike on Iran on February 28 and the corresponding response from Iran paralysed the movement of sea traffic in one of the most important chokepoints of global energy trade- 'The Strait of Hormuz'. With a tenous peace deal in place and a 60-day negotiation between the two sides ongoing, the Strait is finally seeing free movement of tankers and ships.
New Delhi [India], June 29 (ANI): The US-Israel strike on Iran on February 28 and the corresponding response from Iran paralysed the movement of sea traffic in one of the most important chokepoints of global energy trade- 'The Strait of Hormuz'. With a tenous peace deal in place and a 60-day negotiation between the two sides ongoing, the Strait is finally seeing free movement of tankers and ships.
Energy shipments in Hormuz continue despite recent tanker attacks Middle East producers are pushing ahead with loading oil and liquefied natural gas, shipping data showed. Washington and Iran agreed on Sunday to halt hostilities and renew talks on the Strait of Hormuz, despite recent shipping attacks that threatened their interim deal. On Monday, a fourth Very Large Crude Carrier, capable of carrying 2 million barrels of oil, was seen loading at Saudi Arabia's Ras Tanura terminal, LSEG data showed, even after a helicopter belonging to the company crashed on Sunday, killing 14 people.
Half of Iranian assets in Qatar to be released, Pezeshkian says Iranian President Masoud Pezeshkian said on Monday that after the agreement with the United States lifted oil and petrochemical sanctions, $6bn out of $12bn of assets frozen in Qatar would be released and returned to Iran , Iranian state media reported. Iran’s efforts will continue to recover the remaining frozen funds, Pezeshkian added.
Oil prices rise as US-Iran tensions disrupt shipping Oil prices rose after several days of tit-for-tat strikes between the United States and Iran disrupted shipping through the Strait of Hormuz and renewed concerns about global energy supplies. Brent crude futures gained 58 cents, or 0. 8 percent, to $72.
Global oil prices have fallen back to around where they stood before the Iran war. But the decline reflects not a recovery in supply but a combination of emergency measures including strategic reserve releases, alternative export routes and, above all, weakening global demand.
New posts 17:18 Traffic In Strait Of Hormuz Drops Sharply Maritime traffic in the Strait of Hormuz, a key artery for global oil and gas supplies, slowed sharply after attacks on ships over the weekend, including an attack on a Qatari tanker that prompted a US military response.
New posts 19:01 Irans Annual Inflation Rate Rises To 58 Percent The annual rate of inflation in Iran rose to around 58 percent year-on-year in June, according to the countrys Central Bank. In a report issued on June 29, the Central Bank also said the consumer price index for goods and services recorded a monthly increase of over 7 percent.
Oil prices inched up on Sunday evening, while the S&P 500 futures market was little changed.
‘Financial death penalty’: How US sanctions are upending the lives of ICC judges Three International Criminal Court (ICC) judges have had their bank accounts frozen, lost their health insurance and were cut off from basic financial services as a result of sanctions imposed by the Trump administration, a complaint filed in a New York federal court reveals. US sanctions, imposed under Executive Order 14203 signed by President Donald Trump in February 2025, led to consequences that stretch far beyond the professional lives of the three judges. The measures have affected their freedom of movement, their physical security, their families and their ability to carry out basic daily transactions.
Tehran [Iran], June 27 (ANI): Senior Iranian leader and former commander in Iran's Islamic Revolutionary Guard Corps (IRGC) Major General Mohsen Rezaei has called for the establishment of an 'insurance mechanism' for ships transiting the Strait of Hormuz, saying vessels involved in incidents should
HOUSTON, Texas: Oil markets are beginning to signal a near-term supply glut as tankers resume leaving the Strait of Hormuz, releasing crude that had been stranded in the Gulf during the Iran war.
US Navy: Oman route through Hormuz expanding to facilitate traffic A maritime body overseen by the US Navy said a route through the Strait of Hormuz near Oman was being expanded to ease traffic and allow vessels to pass through the waterway. The announcement by the Joint Maritime Information Center came after Iran insisted ships must obey its orders and warned that it would begin charging transit fees through the strait.
