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Oil prices fell more than 1% to a four-month low on Thursday as concerns over supply disruptions eased after mediator Qatar said Iran and the U.S. made progress in talks over ending the four-month war that shut the key shipping through the Strait of Hormuz.Brent futures were $1.03, or 1.44%, lower, at $70.54 a barrel at 10:54 a.m. CDT (1554 GMT). U.S. West Texas Intermediate crude fell 92 cents, or 1.34%, to $67.66 a barrel. During the session, both benchmarks hit their lowest…

The U.S. and Iran held indirect technical talks in Doha on Wednesday as they seek to agree on the flow of shipping through the Strait of Hormuz and secure a lasting ceasefire, a source with direct knowledge of the talks and an Iranian official said.The talks are based on a 14-point interim accord signed last month that was meant to halt the war that began with U.S.-Israeli strikes on Iran in February and reopen the strait, while setting up 60 days of negotiations for a permanent peace deal.However, the U.S.

Oil prices fell on Wednesday as optimism over U.S.-Iran talks eased supply concerns after U.S. President Donald Trump said meetings in Qatar had gone well.Brent futures were down 95 cents, or 1.30%, to $72.00 a barrel at 0119 GMT. U.S. West Texas Intermediate crude was down 54 cents, or 0.78%, at $68.96 a barrel — its lowest since February 27."The negotiations that are currently taking place in Qatar are perceived as being positive (and) that has allowed prices to drift further…

The world's oil tanker fleet is behaving as if the Strait of Hormuz is reopening — even as the waterway itself remains only partially navigable and politically contested. From ship tracking data to freight rates, the signals are clear: owners and charterers are moving early to position vessels for a return to Gulf exports.But the gap between expectation and reality remains wide, leaving the global oil shipping system in a fragile middle ground between crisis and recovery.The most immediate evidence of adjustment lies in real-time vessel movements.

Oil prices gained more than 1% on Monday after attacks by the U.S. and Iran underscored the fragility of their interim peace deal, while cautious hopes of a continued recovery in energy shipping through the Strait of Hormuz limited gains.Iranian and U.S. technical teams working on the implementation of an interim peace deal are expected to meet in Doha in the coming days, a source told Reuters on Monday, after the tit-for-tat weekend strikes threatened to derail the accord.Brent crude futures were up 90 cents, or 1.25%, at $72.89 a barrel by 11:36 a.m. EDT (1537 GMT). U.S.

Tehran reasserted its right on Friday to control shipping in the Strait of Hormuz and warned Gulf states against siding with the U.S., a day after an attack on a ship near Oman highlighted the fragility of a preliminary deal to end the Iran war.Iran was responding to what it called an "interventionist, irresponsible and provocative" joint statement by the United States and six Gulf states that rejected Iran's insistence that it could charge tolls on vessels transiting the strait."Safe passage through the Strait of Hormuz cannot be guaranteed under ambiguous arrangements…

While oil and gas are once again flowing through the Strait of Hormuz, the closure of the vital waterway for over 100 days could prove to be a turning point in global energy markets. The Arab oil embargo of 1973, a similarly disruptive supply shock, offers clues about where we might be headed.The latest Middle East crisis tested the limits of the modern energy system, which has evolved over recent decades into a highly interconnected global market held together by thousands of tankers…

A cargo ship reported a suspected attack as it attempted to pass through the Strait of Hormuz close to the coast of Oman on Thursday, British navy agency UKMTO said.The UN's International Maritime Organization is currently assisting ships escape the Gulf, hundreds of which have been stranded there since the Iran war began at the end of February.The ship reported being struck on its starboard side by a projectile 7.5 nautical miles southeast of Oman's port of Dahit, the UKMTO said.Another maritime security source said the vessel was likely targeted by a drone…

Crude shipments through the Strait of Hormuz rose this week to their highest level since the U.S.-Israeli conflict with Iran began in February after a ceasefire deal reopened the waterway, data showed on Thursday.Concerns about how long the strait would stay open also boosted trade.Still, while there was an increase in oil shipments amid strong demand, especially in Asia after months of disruptions, overall sailings are still a fraction of the daily average of 125 ships passing…

Oman and Iran agreed on Tuesday to press on with discussions about the future administration of navigation in the Strait of Hormuz, including maritime services in the strategic waterway and the costs associated with them.In a joint statement issued after talks in Muscat, the two countries said a joint working group involving their foreign ministries would be formed to continue the discussions and that they would consult other littoral states and relevant parties.The move appears…

Oil prices fell 4% on Monday after U.S. Vice President JD Vance said progress has been made in talks with Iran and that the Strait of Hormuz was open, easing supply concerns.Brent crude was down $3.18 or 3.95%, at $77.39 a barrel by 11:44 a.m. ET (1544 GMT) Prices had climbed to $82.30 at the start of trading because of threats from U.S. President Donald Trump to restart the war on Iran, as well as an announcement from Tehran that it had again closed the Strait of Hormuz.U.S.

Oil shipments through the Strait of Hormuz picked up on Friday after the United States and Iran signed a ceasefire deal, with Gulf producers preparing to raise exports despite concerns over conditions set by Tehran for using the vital waterway.Washington and Tehran released the text of an interim agreement signed on Wednesday to end the conflict, although U.S. President Donald Trump warned he could resume attacks and target Iranian officials if commitments are not honoured.At least four tankers carrying crude…

Iran's Supreme National Security Council said in a statement on Thursday that the country's Persian Gulf Strait Authority will take measures to issue fast authorizations to ships wanting to pass through the Strait of Hormuz as per the memorandum of understanding signed by Tehran and Washington.Measures on mine clearance will be carried out under the Islamabad MoU, though ships are advised to stick to the path and timing allocated by the authority, the statement published by state media added.The U.S.

"Global fertilizer shipments have fallen 11% y/y since the start of the Iran war. The closure of the Strait of Hormuz has restricted fertilizer exports from the Persian Gulf, tightening the global supply and increasing prices. The ceasefire agreement between the US and Iran could lead to a rebound in shipments,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Under normal conditions, 16% of global fertilizer shipments come from the Persian Gulf and pass through the Strait of Hormuz. The closure of the strait has significantly disrupted cargo volumes.

While U.S. President Donald Trump has recently hailed the resumption of oil flows from Gulf allies, Iran, too, appears to be gearing up to resume exports and trading.At least three tankers carrying some five million barrels of Iranian oil have sailed through the U.S. naval blockade this week, shipping data shows, despite the U.S. military saying its operations against Iran-linked shipping will stay in place until Friday.The oil market has focused on a deal to end the Iran war…

The United States military has overseen scores of secretive ship-to-ship oil transfers to keep Gulf energy exports flowing, using aerial and water drones as well as helicopters in an operation to guide convoys to awaiting tankers.The operation on the edge of the Strait of Hormuz employs a shuttling technique long used by Iran to skirt sanctions.Two specific locations where the oil transfers take place were identified by 11 people familiar with the operation – one off the coast of Fujairah in the United Arab Emirates and the other off Oman’s port of Sohar.It started in early May…

The United States and Iran have signed a memorandum of understanding to settle a near four-month war, senior U.S. officials said on Monday, adding that a signing ceremony would take place on Friday and shipping traffic in the strait of Hormuz would gradually ramp up.The memorandum of understanding has been signed by President Donald Trump and Vice President JD Vance and Iranian parliament speaker Mohammad Bagher Qalibaf, one U.S. official said.Speaking at a briefing with reporters, the U.S.

Shippers in Asia and Europe said confidence in resuming transit through the Strait of Hormuz could take weeks to rebuild and navigation will only restart once safety is assured, after the U.S. and Iran agreed a framework deal to reopen the waterway.U.S. and Iranian officials are expected to sign a memorandum of understanding to end their war and reopen the strait on Friday. Global oil prices fell about 5% on Monday in response.President Donald Trump said in a Truth Social post that ships loaded with oil are starting to move out of the strait…

Iranian forces prevented a tanker from transiting the Strait of Hormuz without coordination, state media reported early on Friday.Iranian media earlier reported sounds of explosions near Bandar Abbas, but state news agency IRNA later said no explosions had been reported in the port city and that any sounds could have been related to military activity in maritime areas.Iran's top joint military command announced on Thursday the closure of the Strait of Hormuz, including oil tankers and commercial ships, saying any vessel that will attempt passage will be shot at.Iranian media also reported expl

Oil prices climbed more than $2 a barrel Thursday as Iran declared the critical energy chokepoint, the Strait of Hormuz, closed after the U.S. launched additional strikes against Iran.Brent futures LCOc1 rose $2.30, or 2.47%, to $95.40 a barrel, while U.S. West Texas Intermediate (WTI) CLc1 crude climbed $2.60, or 2.89%, to $92.63. U.S. crude futures gained more than $3 earlier in the session.Iran's top joint military command announced the closure of the Strait of Hormuz on Thursday…

U.S. President Donald Trump said on Wednesday that the United States will attack Iran if no peace deal is secured and that the U.S. military secretly escorted ships carrying more than 100 million barrels of oil out of the Strait of Hormuz."We're going to be attacking them, attacking them very hard," Trump told reporters at the White House. He said the U.S. would strike Iran on Wednesday, in response to Iran's downing of an Apache helicopter in the Strait of Hormuz.Trump said later on Truth Social that he had directed last month the U.S.

Secretary-General of the IMO, Arsenio Dominguez, has issued a warning to the shipping industry:"I am increasingly concerned by reports that vessels continue to attempt to transit the Strait of Hormuz without any credible security guarantees, despite well‑established risks and the fact that seafarers have already been killed, injured and others detained in recent incidents.“My primary concern is for the safety and lives of the seafarers being placed in these situations. They must not be exposed to conditions where the risks are known, significant, and clearly beyond mitigation.

It would be "unwise" to assume that the situation in the Strait of Hormuz will return to how it was before the Iran war, the head of French shipping group CMA CGM said on Tuesday.CMA CGM, the world's third-largest container line, is among firms with vessels stranded inside the Gulf since the start of the conflict that has virtually closed the waterway, which carries a fifth of global oil and LNG supply."Even if a solution for peace is implemented in the coming weeks, there's no guarantee there won't be another crisis later on and we can't be prisoners to Hormuz…