Reopening

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Cargo ship attack test, reopening of the Strait of Hormuz
Trucks

Cargo ship attack test, reopening of the Strait of Hormuz

Oil tankers and cargo ships anchored off the coast of Oman on 23 June. (Elke Scolliers/Getty Images) June 25, 2026 4:00 PM, EDT key takeaways: An unidentified cargo ship has crashed near Oman after several ships capsized while attempting to exit the Strait of Hormuz. Oil prices rose as the incident threatened weak confidence in

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Reopening of Strait of Hormuz floods oil markets with supplies
Trucks

Reopening of Strait of Hormuz floods oil markets with supplies

A tanker moored near Port Sultan Qaboos in Muscat, Oman, on June 21. (Elke Scolliers/Bloomberg) June 24, 2026 2:27 pm, EDT key takeaways: A surge in oil cargoes through the Strait of Hormuz, reopened following the US-Iran deal, has triggered oversupply and weak markets across Europe and Asia. Excess supply from Middle Eastern exports and

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