Scott Olson/Getty Images Before Trump launched his Republican-enabled war with Iran, cargo ships could move freely through the Strait of Hormuz without paying massive tolls or fees. Today, that is no longer the case. Still, energy markets did not react as strongly or negatively to that development
July 15, 2026 5:30 pm, EDT Commercial ship in the Strait of Hormuz near Bandar Abbas, Iran. (Amirhossein Khorgui/ISNA via Associated Press) key takeaways: The US carried out airstrikes on Iran for the fifth consecutive day, targeting missile storage and launch sites on Greater Tunb Island on 15 July. The renewed conflict has restricted shipping
July 14, 2026 12:46 pm, EDT Strait of Hormuz. (Maps4media/Bloomberg) key takeaways: On July 14, President Donald Trump canceled a plan to charge ships a 20% cargo fee for transiting the Strait of Hormuz, citing promised Gulf investments. The conflict threatens global trade as about one-fifth of the crude oil and natural gas traded passes
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
July 7, 2026 9:59 am, EDT key takeaways: The British military said two tankers were hit by shells in the Strait of Hormuz on July 7 in the latest attacks targeting ships passing through the narrow mouth of the Persian Gulf. one of the tankers was traveling The attacks highlight rising tensions in a vital
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
Tankers and cargo ships travel in the Gulf of Oman along shipping routes linking the Strait of Hormuz and the Arabian Sea on June 16. (AP photo) June 25, 2026 10:16 am, EDT key takeaways: Several tankers exited the Strait of Hormuz on June 25 via a new UN-backed coastal route with Oman, despite Iranian
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
On June 16, tankers and cargo ships overflowed into the Gulf of Oman on shipping routes linking the Strait of Hormuz and the Arabian Sea. (AP photo) June 23, 2026 8:27 am, EDT key takeaways: Ship traffic through the Strait of Hormuz has increased since the US-Iran interim agreement, although volumes remain below pre-war levels
Commercial and residential buildings on the beach in Abu Dhabi, United Arab Emirates. (Vidya Chandramohan/Bloomberg) June 17, 2026 1:21 pm, EDT key takeaways: The UAE unveiled plans to eliminate dependence on the Strait of Hormuz by expanding eastern ports, pipelines and transportation links as shipping has been disrupted by regional tensions. The effort reflects the