Oil tankers and cargo vessels are anchored off the coast of Oman after being stranded for days as congestion at Port Sultan Qaboos has prevented them from docking on June 23, 2026 in Muscat, Oman. Elke Scholiers | Getty Images News | Getty Images Shipping traffic is recovering a week after the U.S. and Iran…
Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos on June 21, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region’s oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. On Sunday, U.S. Vice President JD…
French President Emmanuel Macron and his wife Brigitte Macron walk with U.S. President Donald Trump during the G7 Summit at Hotel Royal Evian on June 15, 2026 in Evian-les-Bains, France. Isabel Infantes | Getty Images U.S. President Donald Trump said Tuesday that America will not invest money in Iran after a Memorandum of Understanding was…
U.S. President Donald Trump speaks in the Oval Office at the White House in Washington, D.C., U.S., June 11, 2026. Daniel Heuer | Reuters The U.S. and Iran have agreed on a deal to bring their nearly four-month war to an end, with both sides declaring the immediate and permanent termination of military operations on…
President Donald Trump speaks during a Cabinet meeting in the Cabinet Room at the White House, in Washington, May 27, 2026. Evan Vucci | Reuters President Donald Trump this week said a sweeping peace deal with Iran could be signed very soon, echoing dozens of similar claims he has made over nearly three months. The…
Global oil prices have tumbled by around 20% from 2026 highs as investors have grown increasingly optimistic on prospects for a long-lasting ceasefire deal between the U.S. and Iran, which would unlock shipping through the Strait of Hormuz. Brent crude was down 1.2% on the final trading day of the month, at $92.56, as of…
A man views the Rasool al-Adham mosque from the corniche at Sultan Qaboos port in Oman’s capital Muscat on February 5, 2026. Loic Venance | Afp | Getty Images The Trump administration’s threats against Oman, a longtime U.S. ally, have thrown a country known for cultivating a reputation as the “Switzerland of the Middle East”…
An Iranian flag flutters in the wind as ships remain anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran. Majid Saeedi | Getty Images News | Getty Images The U.S. and Iran have signaled progress in talks to end the war, but the combatants remain at loggerheads over Tehran’s enriched…
The container ship Gunde Maersk sits docked at the Port of Oakland on June 24, 2024 in Oakland, California. Justin Sullivan | Getty Images Danish shipping giant Maersk said one of its commercial vessels successfully transited through the strategically vital Strait of Hormuz under U.S. military protection. The Alliance Fairfax, a U.S.-flagged ship operated by…
Ferrari SF90 XX Spider limited edition plug in hybrid supercar parked on the pavement as a red Ferrari passes on Bond Street on 4th January 2026 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images A global base oils shortage is starting to filter through to drivers of luxury cars, with analysts…
