Ship traffic through the Strait of Hormuz could rise to nearly 50% of prewar levels within a month if the U.S.-Iran deal is implemented without any major setbacks, analysts at the trade data firm Kpler said Monday. Washington and Tehran are expected to sign a deal Friday in Switzerland that will open Hormuz and lift…
Vice President JD Vance said Monday he expects the U.S.-Iran deal will open the Strait of Hormuz without tolls for the long term, but shippers say the arrangement to cross the sea lane remains unclear. “Our expectation is that the strait is going to be opened in a toll-free way for the long term, and…
The Ateela 2 Oil Tanker boat navigates the sea on April 28, 2026 on Qeshm Island, Iran in the Strait of Hormuz. Asghar Besharati | Getty Images Oil prices tumbled after President Donald Trump said the U.S. has completed a deal with Iran to reopen the Strait of Hormuz. U.S. crude oil futures for July…
A satellite image shows an oil terminal at Kharg Island, Iran, February 25, 2026. 2026 Planet Labs Pbc | Via Reuters Hello, this is Leonie Kidd writing to you from London. Welcome to another edition of CNBC’s Daily Open. Sometimes, two things can be true at the same time. But U.S. President Donald Trump’s declaration…
BAHRAIN – APRIL 17: Aluminium ingots seen at the Aluminium Bahrain B.S.C plant in Bahrain, Tuesday, April 18, 2006. (Photo by Phil Weymouth/Bloomberg via Getty Images) Bloomberg | Bloomberg | Getty Images Aluminium Bahrain, which hosts the world’s largest smelter of the metal, said on Sunday its facility was subjected to an Iranian attack as…
Protesters, predominantly Houthi supporters, demonstrate in solidarity with Palestinians, in Sanaa, Yemen on Aug. 1, 2025. Khaled Abdullah | Reuters Yemen’s Houthis launched a missile strike against Israel, the group said Saturday. It was the first time the Tehran-backed militia had intervened in the U.S.-Israeli-led war against Iran, which has entered its second month. “The…
Commercial vessels are pictured offshore in Dubai on March 11, 2026. – | Afp | Getty Images Iran’s de facto blockade of the Strait of Hormuz has stoked fears of the gravest disruption to global oil supply in history, as the Middle East conflict stretches into its third week. The blockade has squeezed shipping traffic…
U.S. President Donald Trump speaks to members of the media before boarding Air Force One for travel to Florida, at Joint Base Andrews, Maryland, U.S., March 13, 2026. Kevin Lamarque | Reuters U.S. President Donald Trump said Sunday that other countries should help the U.S. secure the Strait of Hormuz, arguing the key shipping route…
U.S. Secretary of Defense Pete Hegseth holds a briefing amid the U.S.-Israeli conflict with Iran, at the Pentagon in Washington, D.C., U.S., March 2, 2026. Elizabeth Frantz | Reuters Defense Secretary Pete Hegseth on Friday brushed aside concerns that the effective closure of the Strait of Hormuz because of the Iran war, which has spiked…
The U.S. Navy will begin escorting ships through the Strait of Hormuz as soon as “militarily possible,” Treasury Secretary Scott Bessent told Sky News on Thursday. “That was always in our planning, that there’s the chance that the U.S. Navy or perhaps an international coalition will be escorting oil tankers through,” Bessent said in that…
