Testing the Waters
Iran has threatened to start charging a toll for passage through the Strait of Hormuz. Even if it never happens, the idea could unsettle global shipping.
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Iran says US blockade not disrupting oil supply
Iran says US blockade not disrupting oil supply Iran’s Oil Minister Mohsen Paknejad said the US naval blockade of Iranian ports has not affected the country’s fuel supply or distribution. In comments carried by state media, he said oil workers are operating around the clock to prevent disruptions. The blockade, in place since April 13, has raised concerns Iran could run out of storage capacity and be forced to reduce production.
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Trump says Iran is 'choking like a stuffed pig', as he mulls extending blockade
Trump says Iran is 'choking like a stuffed pig', as he mulls extending blockade Submitted by MEE staff on Wed, 04/29/2026 - 18:56 The US president appeared to reject an Iranian proposal to end the war that would have deferred talks on its nuclear programme US President Donald Trump speaks during an event with the Artemis II astronauts in the Oval Office of the White House in Washington, DC, on 29 April 2026 (Andrew Harnik/Getty Images/AFP) Off US President Donald Trump on Wednesday rejected an Iranian peace proposal to lift competing blockades of the Strait of Hormuz and defer nuclear talks to a later date, as the US-Israeli war on the Islamic Republic shows no sign of ending. Several US media outlets reported that the White House is mulling extending its naval blockade of Iran for months and that US oil executives were briefed on the plan in a meeting with Trump. Oil prices, which have become a metric for the prospects of a peace deal, surged on the news.
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The Guardian view on the UAE quitting Opec: whatever importers pay, the price of fossil fuels is too high | Editorial
The world must accelerate the shift to renewables, regardless of the economic effects of Abu Dhabi’s decision Opec appears to be the latest casualty of the Iran war. On Tuesday, the United Arab Emirates announced that it was leaving the oil cartel after 60 years. The loss of a critical member is a blow to the group and its de facto leader, Saudi Arabia, in the midst of the biggest supply crisis in history.
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Iran crisis a wake-up call for India to push indigenous semiconductor design, says L&T's Sanjay Gupta
New Delhi [India], April 29 (ANI): The disruption caused by the Iran conflict should serve as a catalyst for India to accelerate its push for indigenous semiconductor design and sovereign electronics, said Sanjay Gupta, Chief Development Officer and Global Head of Engineering at L&T Semiconductor Technologies.
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Trump mulling extended Iran blockade as approval rating falls - media
The US president sees the option as preferable to active hostilities or a retreat, even as gas prices continue to grow, according to the WSJ US President Donald Trump has ordered a plan to prolong the blockade of Iranian ports in a bid to pressure Tehran towards a more favorable peace deal, despite
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Trump mulling extended Iran blockade as approval rating falls media
The US president sees the option as preferable to active hostilities or a retreat, even as gas prices continue to grow, according to the WSJ US President Donald Trump has ordered a plan to prolong the blockade of Iranian ports in a bid to pressure Tehran towards a more favorable peace deal, despite his approval rating hitting record lows, the Wall Street Journal has reported, citing sources.
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Iran's rial drops to record low
Iran's rial drops to record low Iran's currency dropped to a record low of 1,810,000 rials to the US dollar on Wednesday, the Iranian Student News Agency (Isna) said. The rial has seen its value fall by nearly 15 percent in the last two days according to Isna, after experiencing weeks of stability as demand for other currencies was inhibited due to war conditions and Iranian New Year holidays. A ceasefire between the US and Iran has been in place since 8 April, with Washington reverting to a policy of economic pressure by imposing a blockade on shipping to and from Iranian ports in the Gulf, making it harder for Iran to gain hard currency via exports.
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Israeli defence minister sanctions Gaza aid flotilla
Israeli defence minister sanctions Gaza aid flotilla Israel's Defence Minister, Israel Katz, signed an order to impose sanctions against the fundraising campaign of the Global Sumud Flotilla sailing toward the Gaza Strip to break the Israeli blockade and deliver continuous humanitarian aid. The ministry claimed in a statement that the flotilla, which includes about 100 vessels that left from Turkey, Spain, and Italy, violates UN resolutions and undermines the Trump administration's regional settlement efforts. The ceasefire agreement of 10 October 2025 stipulates that “full aid will be immediately sent into the Gaza Strip,” but Israel is allowing only a fraction of the promised aid deliveries while blocking essential and nutritious food items.
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Iran currency plunges as dollar crosses 1.8 million in open market
The US dollar passed 1. 81 million rials on Iran’s open market on Wednesday, rising nearly 8% in a single day as the country’s economic crisis worsened under the strain of maritime blockade, stalled diplomacy and mounting pressure on households.
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U.S. Gas Prices Climb Further as Effects of War Reverberate
The national average price of a gallon of gasoline hit $4. 23, following oil prices upward as supplies from the Middle East remain disrupted.
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Iran rial hits record low against dollar amid US blockade
Iran rial hits record low against dollar amid US blockade The Iranian rial plummeted to a record low against the dollar on Wednesday, according to currency-tracking websites, as a US naval blockade of the country's ports continued. On the black market, the rial was trading at around 1. 8m rials against the dollar, the Bonbast and AlanChand websites reported.
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US in stagflation for first time in decades 2008 crash prophet
Ray Dalios warning comes amid a consumer price hike triggered by the Iran war and an economic downturn The US has slipped into stagflation for the first time in decades, billionaire hedge fund boss Ray Dalio has said. The assessment comes despite the Federal Reserve's insistence that the term overstates the current crisis, caused in large part by the war on Iran.
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Tehran says it reserves right to counter US ‘state-sponsored piracy’
Tehran says it reserves right to counter US ‘state-sponsored piracy’ Iran’s ambassador to the United Nations, Amir-Saeid Iravani, said Iran reserves the right to respond to what he described as US “state-sponsored piracy and terrorism” following the seizure of Iranian commercial vessels. In a letter to the UN secretary-general and the United Nations Security Council president, he accused the United States of unlawful actions at sea. Iravani said the seizures of vessels violate international law, the UN Charter and maritime conventions, and warned they threaten navigation and regional stability.
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US Flags Sanctions Risk Over China 'Teapot' Refineries
New posts 10:26 Japanese Vessel Safely Passes Strait of Hormuz Japanese Prime Minister Sanae Takaichi has confirmed that a Japanese-linked vessel that had been stranded in the Persian Gulf safely passed through the Strait of Hormuz on April 29 and is heading to Japan with three Japanese crew members on board.
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UAE exit from OPEC+ may not ease oil prices, could heighten volatility, weaken cartel premium: Report
New Delhi [India], April 29 (ANI): The decision of the United Arab Emirates (UAE) to leave OPEC and OPEC+ may not lead to an immediate fall in oil prices but is likely to increase volatility and weaken the long-term price stability provided by the cartel, according to a report by ASK Wealth Advisors.
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Envoy Urges UNSC to Condemn ‘US Piracy’ over Seizure of Iranian Oil Tankers
TEHRAN (Tasnim) – Iran’s UN ambassador called on the Security Council to condemn “piracy-style” seizures of Iranian oil tankers by the United States, demanding their immediate release and warning of serious consequences for international maritime security.
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Tehran labels US ship seizures "piracy" in formal protest to UN Secretary-General Antonio Guterres
New York [US], April 29 (ANI): Amidst intensifying maritime friction, Iran has lodged a formal complaint with the United Nations, accusing the US of engaging in 'piracy' following the seizure of Iranian vessels.
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Iran taps reserves again as inflation bites and layoffs mount
Iran has once again tapped its sovereign wealth reserves to fund essential imports, highlighting the growing strain on an economy battered by war, inflation and a rapidly weakening currency.
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US Treasury Secretary says Iran oil industry "creaking" under blockade; projects USD 170 million daily loss
Washington, DC [US], April 29 (ANI): US Treasury Secretary Scott Bessent has stated that Kharg Island, the primary oil export terminal for Iran, is reaching its maximum storage limits.
