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Republicans face ticking midterm clock as Iran fallout keeps pressure on gas prices
As the Trump administration weighs diplomacy and military pressure against Iran, a political clock is ticking at home. Even if the Strait of Hormuz — the global oil choke point largely shuttered since the conflict with Iran due to Iranian attacks — reopened immediately, it could take months for oil flows to return due to logistical bottlenecks involving trapped tankers, swollen inventories and damaged oil infrastructure, according to Kpler oil analyst Matt Smith, pushing normalization of...
Republicans face ticking midterm clock as Iran fallout keeps pressure on gas prices
As the Trump administration weighs diplomacy and military pressure against Iran, a political clock is ticking at home. Even if the Strait of Hormuz — the global oil choke point largely shuttered since the conflict with Iran due to Iranian attacks — reopened immediately, it could take months for oil flows to return due to logistical bottlenecks involving trapped tankers, swollen inventories and damaged oil infrastructure, according to Kpler oil analyst Matt Smith, pushing normalization of...
How the US naval blockade has bled Iran of nearly $6bn in oil revenues
How the US naval blockade has bled Iran of nearly $6bn in oil revenues Iran is exporting less than one-sixth of the oil it was shipping before the war began. Iran’s crude oil exports fell to their lowest level in at least six years in May, as a United States naval blockade squeezes Tehran’s most important source of income amid a fragile ceasefire between the two nations. The blockade on Iran’s ports, which Washington commenced on April 13, is part of President Donald Trump’s effort to...
Trump once slammed Biden for touching US oil reserves, now he's draining it: Report
America is digging deeper into its emergency oil reserves as the fallout from the war with Iran continues to squeeze global energy supplies. Since the conflict began, the US Strategic Petroleum Reserve has lost about 50 million barrels, as the Trump administration seeks to offset supply shortages and ease pressure from rising fuel prices. These withdrawals are dragging down the country's emergency oil stockpile levels towards the lowest levels since 1980s.
Iran's threats against this Red Sea chokepoint are a big vulnerability for the oil market
President Donald Trump faces the risk that Iran will close the Bab el-Mandeb Strait if the conflict in the Middle East escalates, a scenario that would slash oil supplies to an already deeply disrupted market. The Bab el-Mandeb is one of the world's key trade chokepoints, connecting the Red Sea to the Gulf of Aden and Arabian Sea. It has acted as crucial relief valve for the oil market as exports through the Strait of Hormuz have plunged due to Iranian attacks on tanker and cargo ships.
Russian crude here to stay? Why India-US energy ties may be more about LPG, LNG than oil
US President Donald Trump announced in February that India would stop buying Russian crude oil and step up energy ties with the United States of America. Four months after that, India’s Russian oil imports are near record highs and the US still doesn’t feature among India’s top five crude suppliers. But notably, India has stepped up LPG and LNG imports.
Saved by the barrel: Why crude hasn't hit the $200 mark
When the Strait of Hormuz tightened, many braced for $200-a-barrel oil. More than three months on, that nightmare scenario is still nowhere in the picture. The disruption, which removed more than 10 million barrels a day of Middle Eastern supply from the market, had fuelled warnings of crude prices soaring to as much as $200 a barrel.
Hundreds of ships cross the Strait of Hormuz, some are going 'dark' to do it
US and Iran negotiations in 'deadlock', but ships are finding ways to cross the Strait of Hormuz Tue 9 Jun 2026 at 4:56am Marine traffic observers have revealed hundreds of commercial ships have crossed out of the Strait of Hormuz, often by taking "dark" journeys through Iran's "tollbooth route" or with the guidance of the United States. Analysts also say some Iranian tankers are likely slipping past the US blockade in the opposite direction and entering Iranian waters to be used to store...
Trump keeps forecasting an Iran deal — why the White House still thinks it can happen
President Donald Trump is continuing to project confidence that a final nuclear agreement with Iran remains within reach despite months of slow-moving diplomacy, unresolved disputes over uranium enrichment and a ceasefire that appeared at risk of unraveling over the weekend. in the final throes of what will be a very, very good deal," Trump told reporters after attending the third game of the NBA Finals at Madison Square Garden, adding that it would come in "two or three days." Trump has...
Trump keeps forecasting an Iran deal — why the White House still thinks it can happen
President Donald Trump is continuing to project confidence that a final nuclear agreement with Iran remains within reach despite months of slow-moving diplomacy, unresolved disputes over uranium enrichment and a ceasefire that appeared at risk of unraveling over the weekend. in the final throes of what will be a very, very good deal," Trump told reporters after attending the third game of the NBA Finals at Madison Square Garden, adding that it would come in "two or three days." Trump has...