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Strait of Hormuz

Europe News

French carrier group moves south of Suez ahead of Hormuz mission

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Iran

Trump urges Iran to 'do the smart thing' and reach a peace deal

Meanwhile, Iran warned the US against any further escalation in the Strait of Hormuz, after a spate of attacks risked reigniting the war.

Iran

Iran threatens European military bases amid Hormuz escalation

Iran attacked ships in Hormuz and struck the UAE again as hardliners threatened that European bases could become legitimate targets. Tehran also issued its own Strait of Hormuz navigation map, warning US Navy ships and oil tankers from crossing.

Markets

European markets mixed as oil prices stay elevated on Iran war fears

European markets opened in the green on Tuesday morning but later traded mixed as traders monitored developments in the Middle East.

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German minehunter heads to Mediterranean for possible Hormuz mission

Germany’s minehunter Fulda departed from Kiel for the Mediterranean as Berlin considers a possible future deployment in the Strait of Hormuz.

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Iran

Trump says Iran has fired shots but caused little damage in Hormuz

Meanwhile, a senior admiral said the US had destroyed six Iranian boats and shot down missiles and drones fired at US Navy and commercial vessels by Tehran's forces.

Economy

Shipping giant MSC opens new trade route to bypass Hormuz disruption

As tensions choke the Strait of Hormuz, Mediterranean Shipping Company races to keep global trade moving with new route.

Markets

Oil prices edge up despite Trump vowing action in Hormuz tensions

Oil prices rose slightly in early trading on Monday as investors monitored Iran war developments. Brent crude and WTI front month contracts are trading around 1% higher at around $109 and $103 per barrel respectively.

Iran

Donald Trump says 'not satisfied' with new Iran peace proposal

Meanwhile, Washington is gripped by a legalistic debate over whether Trump has passed a deadline for requesting congressional approval for the war.

Switzerland

Iran war's impact on shipping affecting refugee aid, UNHCR says

The agency has re-routed sea cargo via Jordan's Aqaba Red Sea port and has switched to land corridors including truck routes from Dubai across the Arabian peninsula and Turkey.

Europe News

US Hormuz coalition not 'competition' with France-UK mission, FM says

France says a new US-led coalition to reopen the Strait of Hormuz will complement, not compete with, its own UK-backed mission as standoff with Iran in the vital waterway roils on.

Economy

Fertiliser crisis caused by Iran war sparks global food security fears

The Iran war and the consequent blockade of the Strait of Hormuz has triggered a severe "fertiliser squeeze" as soaring energy costs and export disruptions push farmers' affordability to a four-year low.

Iran

US seeks 'maritime freedom' coalition to restart Hormuz shipping

Iran effectively closed the crucial waterway when the war broke out on 28 February. Normally one-fifth of the world's oil and liquefied natural gas transits the waterway. Its closure has sent energy prices skyrocketing around the world.

Business

Bank of England holds rates as Iran war sends oil prices to new highs

The Bank joins the Fed and Bank of Japan in sitting tight, as war in the Middle East drives oil prices higher and blows the spring rate-cut playbook apart.

Markets

Oil hits $126 wartime high as US–Iran standoff fuels supply fears

Oil markets face upward pressure on Thursday, with Brent crude briefly touching $126 as markets price in tensions in the negotiations between the US and Iran.

Saudi Arabia

GCC summit shows unity, but highlights coordination gaps

Gulf leaders met in Saudi Arabia to address the fallout from the Iran war, projecting unity but stopping short of concrete steps as divisions and uncertainty persist.

Travel News

Europe’s regional airports face ‘existential threat’ from fuel crisis

The energy crisis is compounding challenges already faced by Europe’s smaller airports, amounting to an “existential threat”.

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