Iran is signaling that the Strait of Hormuz isn’t totally closed and that it wields the power to choose who may pass, as the U.S. military has yet to re-establish free navigation through the narrow waterway. Oil prices have soared as Iran’s attacks on shipping in the Persian Gulf have created a de facto blockade…
The S&P 500 is only down 3% so far this year and 5% off its all-time high, still far from reaching bear market territory or even a correction, suggesting investors aren’t panicking yet about the U.S.-Israel war on Iran. But that could change soon. To be sure, oil prices have soared more than 40% since…
Iran has threatened to destroy any ships, including oil tankers, that pass through the strait from the oil depots of the Persian Gulf to the Arabian Sea and the rest of the world. Companies that insure ships against the risks of traveling in war zones are deciding whether to issue coverage on an individual-ship basis….
Attacks on multiple commercial ships in the waters around Iran on Wednesday increased global energy concerns, pushed nations to unleash strategic oil reserves and sparked fresh critiques of the Trump administration’s readiness for a war it started. As Trump administration and U.S. military officials continued to claim increasing success and advantage in the conflict, leaders…
WASHINGTON — Some 140 American service members have been wounded since start of the Iran war, with eight of them “severely injured” and receiving medical care, the Pentagon said Tuesday. “The vast majority of these injuries have been minor, and 108 service members have already returned to duty,” Pentagon spokesperson Sean Parnell said in a statement. The…
Dozens of civilians, including children, wounded by an Iranian drone strike in Bahrain. France deploying warships to secure shipping commerce in the Strait of Hormuz. Australia taking heat from President Trump over its handling of the Iranian women’s soccer team. Markets across Asia plunging as the price of oil surged. Lebanon reporting half a million…
Just over a week into the U.S.-Israeli war on Iran, Wall Street has started to price in a prolonged conflict, as hopes for a swift endgame have been crushed. With no signs of de-escalation, both sides are instead upping the ante, expanding targets to critical infrastructure and risking greater retaliation in the process. U.S. oil…
BEIRUT — When Iran’s Islamic Revolutionary Guard Corps warned this week that ships traversing the Strait of Hormuz would be “set ablaze,” alarm set in with government and industrial leaders all over the world. They have good reason to be alarmed: Whoever controls the strait controls nothing less than the sole maritime gateway for most of the…