94 resultsfor “importance of Strait of Hormuz for oil”
Strait of Hormuz](/news/2026/4/19/what-to-know-about-us-iran-standoff-over-the-strait-of-hormuz), which is normally the passage for one-fifth of the world’s oil and liquefied natural gas supplies, has raised concerns about supply across the globe. Last week, the head
strait of Hormuz. Last week the head of the International Energy Agency said flight cancellations would come soon if oil supplies from the Middle East were not restored, adding that [Europe had only six weeks
Hormuz opened immediately- Starving for cash!” For the first six weeks of the US-Israel war on Iran that began on February 28, Tehran imposed an access system to control which ships transited the strait
Strait of Hormuz. “They’re not going to be able to get their oil. They can get oil. Not Iranian oil,” Bessent told reporters in Washington, DC. ## In Israel - **Israel proposes long-term presence
oil tankers and other vessels through the strategic chokepoint of the Strait of Hormuz, Tehran shows no sign of buckling – although Trump's statements continue to indicate his mistaken belief that Iran will soon capitulate
important shipping routes if the US blockade of the Strait of Hormuz continues. Major-General Ali Abdol-lahi, the commander of Iran's top military command center, renewed threats on Wednesday to halt all trade
Strait of Hormuz. --- ## IMF warns global economy at risk of recession The International Monetary Fund (IMF) [warned Tuesday](https://www.imf.org/en/publications/weo/issues/2026/04/14/world-economic-outlook-april-2026?cid=ca-com-homepage-sm26-WEOEA2026001) that the war with Iran could trigger a global recession that would
Hormuz, a narrow choke point between Iran and Oman through which a fifth of the world’s crude oil and liquefied natural gas normally passes, because of Iranian threats and attacks against vessels
oil supplies normally flow, which has been repeatedly restricted or threatened with closure by both parties, Iran and the US. During the war, many of the words and terms dominating the headlines carry deeper historical
Strait of Hormuz, the vital waterway where one-fifth of the world’s oil and liquefied natural gas supplies are normally shipped. The price of jet fuel has more than doubled in certain markets since
Strait of Hormuz could end the current pause in fighting as mediators try to secure a diplomatic solution. “If the aggressor and terrorist US seeks to continue its illegal action of imposing a naval blockade
imports. The figure was about 16 percent lower than the year before. The volume of non-oil trade was valued at approximately $9bn for the 11th month of the calendar year ending on February
Strait of Hormuz were bound for Asian countries, according to the US Energy Information Administration (EIA). China alone is estimated to buy around 90% of the oil that Iran exports. On Tuesday, its foreign ministry
importance of reopening the Strait of Hormuz, observers are less united on the severity of the current outlook. Traders who buy and sell financial contracts linked to food crops are anticipating only moderate price increases
strait of Hormuz is reopened.” Which means despite the IMF’s grim warnings, investors have “already decided that the risk of recession is receding”. [Sign up for the Breaking News Australia email](https://www.theguardian.com/email-newsletters?CMP=copyembed&CMP=emailbutton)
Strait of Hormuz, through which 20 percent of the world’s oil and liquefied natural gas (LNG) supplies are shipped in peacetime. Experts say this has also disrupted pharmaceutical supply chains, which are reliant
import gas. In Texas, gas is $3.72 a gallon while California sees an average of $5.96 a gallon. By Tuesday morning, Brent crude, the global benchmark, hit $111 a barrel, lower than its high
Hormuz between the US and Iran. The strait is a vital water passageway through which one-fifth of the world’s oil and liquefied natural gas (LNG) supplies are shipped during peacetime. The collapse
Strait of Hormuz, meanwhile, has triggered the prospect of a mounting jet fuel crisis. The European Union is [considering jet fuel imports](/news/2026/4/21/eu-eyes-options-as-iran-conflict-threatens-jet-fuel-shortages) from the US, alongside new minimum reserve quotas, amid a pending supply
Strait of Hormuz. The U.S. says about 90% of Iran's economy relies on international trade by sea, and now that pathway is completely cut off. Estrin says a question remains as to whether this