Oil prices rose on Thursday after renewed US strikes on Iran intensified concerns over supply disruptions in the Middle East. The developments added fresh uncertainty to global energy markets already unsettled by ongoing conflict and fragile ceasefire conditions. Investors reacted to fears of further disruptions in the Strait of Hormuz, a key global shipping route. […]
global oil supply disruption
Iraq oil exports hit by Hormuz disruption
Iraq’s Oil Minister Basim Mohammed Khudair said the country exported 10 million barrels of oil via the Strait of Hormuz in April. He said the decline reflects severe disruption caused by regional conflict affecting the strategic waterway. The situation has significantly impacted global energy supply chains. Khudair said Iraq previously exported about 93 million barrels […]
Hormuz crisis impacts Asia, says Japan PM
Japan’s Prime Minister Sanae Takaichi warned that the closure of the Strait of Hormuz is causing “enormous impact” across the Asia-Pacific region, as energy insecurity deepens amid global tensions. Her remarks came after high-level talks with Australian Prime Minister Anthony Albanese in Canberra on Monday. The leaders focused on energy security, defense cooperation, and critical […]
Only five ships cross Hormuz in day
Only five ships passed through the Strait of Hormuz in the past 24 hours, according to shipping data. The sharp decline follows heightened tensions, recent vessel seizures, and ongoing military activity in the region. The waterway remains a critical global energy route. Before the Iran war began on February 28, the strait typically saw around […]
Trump: US no longer needs allies for Hormuz
U.S. President Donald Trump announced Tuesday that Washington no longer requires NATO allies, South Korea, Japan, or Australia to secure the Strait of Hormuz. Trump cited “military success” in ongoing operations against Iran as the reason for his statement. The Strait of Hormuz, a critical global shipping route, carries roughly 20 percent of the world’s […]
UK’s Starmer avoids wider Iran war, backs Hormuz plan
Prime Minister Keir Starmer said Britain will not join a wider war involving Iran. However, he stressed that allies must cooperate to reopen the strategic Strait of Hormuz. The situation matters because the route carries major global oil shipments affecting energy prices worldwide. Speaking at a press conference in London, Starmer said restoring navigation through […]