Hormuz Closure
No mentions found
This entity hasn't been tracked yet, or Iris is still building its knowledge base.
Related Articles from SNS
OPEC+ approves fourth oil output quota hike since Hormuz closure
OPEC+ approves fourth oil output quota hike since Hormuz closure On Sunday, the seven members decided to increase targets by 188,000 barrels per day from July, OPEC said in a statement. LONDON: OPEC+ agreed on Sunday (Jun 7) a fourth increase in its oil output targets in as many months, even though the US war with Iran is still preventing several of the group's members from pumping more. The war has cut oil flows via the Strait of Hormuz, creating the world's biggest-ever supply crisis as...
OPEC+ approves fourth oil output quota hike since Hormuz closure
OPEC+ approves fourth oil output quota hike since Hormuz closure On Sunday, the seven members decided to increase targets by 188,000 bpd from July, OPEC said in a statement. LONDON: OPEC+ agreed on Sunday (Jun 7) a fourth increase in its oil output targets in as many months, even though the US war with Iran is still preventing several of the group's members from pumping more. The war has cut oil flows via the Strait of Hormuz, creating the world's biggest-ever supply crisis as key OPEC+...
'US firms benefit from Hormuz closure': Russian oil company chief's big claim amid Iran war
Rosneft chief executive Igor Sechin on Saturday said American energy companies were the biggest beneficiaries of the closure of the Strait of Hormuz, while warning that prolonged disruption in the vital shipping route could ultimately undermine global oil demand and accelerate interest in alternative energy sources, as per Reuters. Speaking at the St. Petersburg International Economic Forum, Sechin argued that the closure of the strategic waterway, through which around one-fifth of global...
Strait of Hormuz closure: Why high oil prices may be a temporary shock only - explained
Oil prices may average at around $87 per barrel in 2026 as the reopening of Strait of Hormuz in the coming months would ease crude supplies globally, says Fitch Ratings. Global oil markets are likely to move back into surplus once shipping through the Strait of Hormuz resumes, despite the sharp rise in prices caused by the closure of the key maritime route, the report says. “Oil prices will be lower if Hormuz reopens earlier.
Houthis join Iran war fight, threatening Red Sea shipping amid Hormuz closure
Yemen's Houthis declared a ban on Israeli shipping in the Red Sea and claimed a missile strike on Israel, with the Bab el-Mandeb and Hormuz blockades now simultaneously threatening roughly a third of the world's seaborne oil and gas. Yemen's Houthi rebels have joined the fight in the Iran war on Tehran's side, announcing a missile attack on Israel on Monday and declaring a ban on Israeli shipping in the Red Sea, putting the waterway in danger along with the Gulf of Aden and the narrow Bab...
Tehran suspended negotiations via mediators with US, Iranian media says
Iran has suspended all indirect talks with the US and announced it would pursue “complete closure of Strait of Hormuz”, accusing Israel of "continuing crimes" in Lebanon and stating that any ceasefire breach on one front breaks the truce in general. Iran has suspended all exchanges with the US via mediators on Monday, IRGC-affiliated news agency Tasnim reported, as the two sides remained apart on a deal to extend the ceasefire and end the war. The decision was made over what the news agency...
Iraq and UAE race to establish alternative oil pipelines as exports through Hormuz dry up
Iraq and the United Arab Emirates are fast-tracking plans to expand oil pipelines to replace the capacity lost by the closure of the Strait of Hormuz, as new data reveals their stark dependency on the Persian Gulf. Last week, the Iraqi cabinet approved plans to accelerate crude exports through the Kurdistan-Turkey pipeline network, which would more than triple its existing shipments from 220,000 barrels per day to 770,000. The route offers an alternative passage through Kurdistan to Turkey's...
Commentary: Methanol, pistachios and cement - other Iranian exports choked by the war
Commentary: Methanol, pistachios and cement - other Iranian exports choked by the war Given disruptions in supply chains all over the world, the conflict has shown that Iran’s role in the global economy is not merely centred on oil, says this writer. The war between Iran, the US and Israel has escalated into a major global crisis, with consequences that are reaching far beyond the Middle East. The closure of the Strait of Hormuz, through which around 25 per cent of the world’s oil ordinarily...
Fertiliser imports hit one million tonne mark since Iran war began
One million tonnes of fertiliser imported into Australia since the Iran war began Wed 3 Jun 2026 at 12:16pm In short: One million tonnes of fertiliser has been imported in to Australia since the conflict in Iran began. The federal government streamlined its biosecurity border processes in April to help get more fertiliser into the country during the closure of the Strait of Hormuz. Further shipments of urea are expected to arrive in coming weeks.