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…
Russian supertanker Astro Lupus waits to unload its cargo of the first direct shipment of Russian crude oil on July 3, 2002 in the Gulf of Mexico. Pool | Afp | Getty Images The U.S. on Thursday temporarily authorized the purchase of Russian oil stranded at sea to stabilize energy markets. U.S. Treasury Secretary Scott…
CNBC’s Jim Cramer on Thursday warned panicked investors tempted to dump their portfolios due to Iran war-induced market volatility: Don’t follow the crowd off the ledge. “Even if the current situation is terrifying, remember that under almost all circumstances, it makes sense to stick with the market, if only because you’ll have a better chance…
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…
The U.S. Navy is not ready to escort oil tankers through the Strait of Hormuz, Energy Secretary Chris Wright told CNBC in an interview Thursday. “It’ll happen relatively soon but it can’t happen now,” Wright said. “We’re simply not ready. All of our military assets right now are focused on destroying Iran’s offensive capabilities and…
President Donald Trump will decide whether the U.S. participates in the historic release of oil reserves by the International Energy Agency to address the supply disruption triggered by the Iran war, Interior Secretary Doug Burgum told CNBC on Wednesday. “I think what you’re hearing out of the IEA today is reasonable on their part, but…
The International Energy Agency on Wednesday agreed to release 400 million barrels of oil to address the supply disruption triggered by the Iran war, the largest such action in the organization’s history. The IEA did not set out a timeline for when the stocks would hit the market. It said that the reserves would be…
Mount Fuji and the Shinjuku skyline in Tokyo, Japan, on Friday, Feb. 14, 2025. Photographer: Kiyoshi Ota/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images Asia-Pacific markets traded mostly higher Wednesday as investors assessed the ongoing Middle East war. Australia’s S&P/ASX 200 rose 0.59% to close at 8,743.5. Japan’s Nikkei 225 jumped 1.43% to end…
In this handout photo obtained from the U.S. Defence Department, Nimitz-class aircraft carrier USS Abraham Lincoln (CVN 72) sails alongside Arleigh Burke-class guided-missile destroyer USS Frank E. Petersen Jr. (DDG 121) and Lewis and Clark-class dry cargo ship USNS Carl Brashear (T-AKE 7) in the Arabian Sea, Feb. 6, 2026. Mass Communication Specialist 1st Class…
Rotterdam hopper dredger vessel operated by Van Oord sits anchored, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 9, 2026. Benoit Tessier | Reuters Iran has continued to send large amounts of crude oil via the Strait of Hormuz to China even as the…
