July 13, 2026 1:16 pm, EDT Strait of Hormuz. (Andrea Campanu/Bloomberg via Getty Images) key takeaways: The US reinstated a naval blockade on Iranian shipping through the Strait of Hormuz, ending a brief relaxation of sanctions allowing exports. During the gap, Iran supplied at least 57 million barrels, about 2.2 million barrels per day, which
Three boys play in the shallow waters of the Strait of Hormuz near Bandar Abbas, Iran, on July 13, as a plume of smoke rises from an explosion in the background. (Razieh Paudat/ISNA via AP) July 13, 2026 7:53 am, EDT | Update: July 13, 2026 11:26 am, EDT key takeaways: Oil prices surged and
A woman stands on the water’s edge along the Strait of Hormuz as a plume of smoke rises in the background after an explosion near Bandar Abbas, Iran, on July 13. (Razieh Paudat/ISNA via AP) July 13, 2026 8:27 am, EDT key takeaways: The United States and Iran exchanged attacks on July 13, while both
After the US launched attacks on Iran this week, Donald Trump said the fragile ceasefire he co-signed last month was up. Before leaving the NATO summit in Ankara he also repeated his threats to annex Greenland, saying there was a lot of ‘love’ and ‘unity’ in the room. So how can one make progress when
Oil tankers and cargo ships are anchored off the coast of Oman. (Elke Scolliers/Getty Images/Bloomberg) July 9, 2026 11:40 am, EDT key takeaways: Traffic through the Strait of Hormuz came to a near halt on July 9 as US strikes on Iran for the second day disrupted the fragile ceasefire and disrupted shipping movements. The
The US President has said the ceasefire with Iran is ‘over’ amid 48 hours of intense attacks. In the days before the escalation, three tankers were attacked by Iran in the Strait of Hormuz, raising questions about the clarity of the ceasefire agreement signed in June. The US military strikes came during the week-long funeral
A pipeline runs toward an oil southbow storage tank at the Cushing Crude Oil Storage Terminal in Cushing, Okla. (Nick Oxford/Bloomberg) July 8, 2026 3:20 pm, EDT key takeaways: Unprecedented foreign demand for US diesel, propane and other fuels as the US-Iran conflict escalated put pressure on stockpiles from the Gulf Coast to the East
Commercial ship in the Strait of Hormuz near Bandar Abbas, Iran. (Amirhossein Khorgui/ISNA via AP) July 8, 2026 8:13 am, EDT | Update: July 8, 2026 11:35 am, EDT key takeaways: Oil prices rose more than 7% after US President Donald Trump said on July 8 that the interim deal with Iran was “dead” although
Iran is holding a multi-day funeral for its former supreme leader Ali Khamenei in a show of defiance and resilience after a war with the US and Israel. patrick wintourThe diplomatic editor of the Guardian, there. “I’m just a dot on the numbers that you see from the helicopters. When I was in the mosque
A worker stands under the wing of an aircraft while refueling at Dublin Airport. (Chris Ratcliffe/Bloomberg) July 7, 2026 1:51 pm, EDT key takeaways: BP increased jet fuel production at European refineries by about 30% during the Iran conflict, helping prevent shortages caused by halting shipments through the Strait of Hormuz. The war disrupted Middle