Our business reporter Peter Eavis breaks down how American military ships have blocked Iranian-linked vessels from using the Strait of Hormuz as the U.S. encourages other vessels to make the passage.
If tankers do not soon begin crossing the Strait of Hormuz, airlines in Europe may not have enough jet fuel to operate all of their flights.
The comments come as peace talks between Iran and the United States have not yet resumed and a cease-fire is set to expire next week.
The comments come as peace talks between Iran and the United States have not yet resumed and a cease-fire is set to expire next week.
Oil markets shrugged it off, but the effort to hurt Iran could provoke retaliation that inflicts more damage on energy assets and the global economy.
The vessels exited the Strait of Hormuz on Monday, hours before a U.S. naval blockade took effect.
Prime Minister Keir Starmer said the U.K.’s diplomatic efforts are directed at keeping the vital waterway “open, not shut.”
Vice President JD Vance led the highest-level talks between the United States and Iran in nearly 50 years.
Iranian officials said that while Iran had approached the negotiations in good faith, the U.S. team had not gained the Iranian delegation’s trust.
In a televised address, Prime Minister Benjamin Netanyahu of Israel sought to placate critics at home who say the war failed to achieve its goals.