Iran and Oman have agreed the terms of new entry and exit routes through the Strait of Hormuz and will propose the deal during a regional meeting in Muscat on Monday. A source close to Iran’s negotiating team told Tasnim news agency that the agreement was the result of technical and diplomatic talks which were in a final stage in… Continue reading Iran and Oman Finalise New Shipping Routes for Strait of Hormuz
The average price of diesel in the U.S. exceeded $6 per gallon for the first time, exacerbating inflation worries amidst continuing fuel supply disruptions. AAA reported the national average on Friday was $6.06 per gallon, beating the record of $5.82 which occurred during Russia’s invasion of Ukraine in 2022. Fuel prices also went up, to $4.29 per gallon of gasoline.… Continue reading US Diesel Prices Surge Above $6 for First Time
South Korean Foreign Minister Cho Hyun and his Iranian counterpart Abbas Araghchi discussed the situation in the Middle East and the safety of shipping through the Strait of Hormuz during a phone call on Friday. Cho expressed deep concern over the situation of conflict in the region and insisted on the return of lasting peace and stability to the region,… Continue reading South Korea and Iran Discuss Strait of Hormuz Amid Tensions
The BRICS Leaders’ Summit is set to take place in September 12-13 in New Delhi as the grouping is grappling with internal differences on the war in Iran. This roundtop takes place over six months after U.S. and Israeli strikes against Iran, which joined BRICS in 2024. The war has caused a significant decline in the volume of oil passing… Continue reading India BRICS Summit Faces Unity Test Over Iran War
Iran will declare a “restricted zone” in the coming days that will cover the Strait of Hormuz and certain areas in the Gulf, Secretary of the country’s Supreme National Security Council Mohsen Rezaei said, the Iranian state media reported. Rezaei didn’t elaborate on the planned zone, but indicated that the vessels entering the zone would be on a “sanctions list.… Continue reading Iran to Announce Restricted Zone Around Strait of Hormuz, Rezaei Says
The US military reports that it has either destroyed or disabled three Iranian oil tankers after Iran attacked American warships. On Saturday, US Central Command (CENTCOM) claimed that the ships were affiliated with Iran’s Islamic Revolutionary Guard Corps (IRGC). The tankers comprised the M/T Downy, which was hit off the coast of Kharg Island, and the M/T Stark 1, hit… Continue reading US Says Three Iranian Oil Tankers Destroyed in Strikes
