… IRANIAN OFFICIAL PLAYS DOWN OMAN MEETING There have been no talks between the United States and Iran to end the conflict since a June agreement that collapsed within weeks. …
… The Gulf Co-operation Council – made up of representatives from Saudi Arabia, the United Arab Emirates, Bahrain, Oman, Qatar and Kuwait – also issued a missive condemning the attack. …
… The waterway’s status remains a central obstacle in negotiations between Washington and Tehran, mediated by Qatar and Pakistan, with Iran claiming the strait belongs to Iran and Oman — a position Gulf states broadly reject. …
… Efforts by mediators including Qatar and Oman to broker a deal to reopen the Strait of Hormuz, which carried about a fifth of global oil supplies before the war erupted in late February, have so far failed to gain traction. …
… Iran and Oman are working on finalising details of an agreement to control the Strait of Hormuz, a senior Iranian source said on Wednesday, after Iran’s Revolutionary Guards said the two countries had agreed on how to share the waterway that connects major Gulf oil producers to …
Oil prices dropped about 2% on Wednesday, adding to the previous session’s losses, on fresh hopes the Strait of Hormuz could reopen after Iran said it had resumed talks with neighbour Oman on managing the strategic waterway. …
… ll retains the ability to respond by disrupting shipping, which continues to keep a residual premium in the oil price.” Highlighting those threats, an oil tanker was struck on Tuesday by an unidentified projectile and disabled about 9 nautical miles (16.7 km) northeast of Oman …
… without a major escalation,” said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities. “The market is likely to maintain a gradual upward trend given uncertainty over peace talks and tensions involving the United Arab Emirates, Oman …
Maritime trackers reported a projectile hit a vessel in the Strait of Hormuz on Sunday, with the crew evacuated after a fire broke out. The incident follows Saudi Arabia's temporary closure of its East-West pipeline after a drone attack, raising concerns about global oil supply disruptions as Brent crude surges above $100 a barrel.
Maritime trackers reported a projectile hit a vessel in the Strait of Hormuz on Sunday, with the crew evacuated after a fire broke out. The incident follows Saudi Arabia's temporary closure of its East-West pipeline after a drone attack, raising concerns about global oil supply disruptions as Brent crude surges above $100 a barrel.
Saudi Arabia has closed its critical 1,200km East-West oil pipeline after drones launched from Iraq attacked it, following an admission from Iraq's government and the firing of a military commander. The pipeline has been moving 4% to 5% of global oil supply, and the closure comes amid wider Middle East tensions and Houthi advances in Yemen.
The UAE is expanding port capacity and developing pipelines, railways, and trade routes along its eastern coast to ensure its energy exports are not disrupted by regional conflict. A UAE presidential adviser warned that relations with Iran could take decades to rebuild after attacks, and called for greater coordination among Gulf Arab states.
Saudi Arabia has condemned what it said was an Iranian attack on its supertanker Sidr in the Strait of Hormuz on Monday night, killing two Filipino sailors. The incident occurred amid escalating tensions following US air strikes on Iran and Iranian strikes on US bases.
Oil prices gained on Tuesday as renewed fighting between the U.S. and Iran in the Middle East raised fears of supply disruptions, with Brent crude up 0.6% to $91.05 a barrel and U.S. West Texas Intermediate up 1% to $86.59. The escalation, including President Trump's threat of further strikes following Sunday's direct attacks, has raised concerns about potential damage to energy infrastructure around the Gulf and shipping disruptions through the Strait of Hormuz.
American forces attacked two rocket launchers on Larak Island in the Strait of Hormuz, killing and injuring people according to Iran's IRGC, which vowed "response and punishment." Iran responded by striking US military bases in Jordan, with Jordan intercepting eight missiles, and claimed to have targeted an air base in the UAE with drones, though the UAE denied being targeted and confirmed only shooting down a drone.
Oil prices fell on Thursday, extending losses, on expectations that talks between Iran and Qatar might reopen the Strait of Hormuz and reduce supply disruptions from the Middle East conflict. Brent crude fell 0.5% to $87.43 a barrel, marking a fourth consecutive day of declines, while WTI crude dropped 0.5% to $81.86.
Oil prices dropped about 2% on Wednesday after Iran said it had resumed talks with Oman on managing the Strait of Hormuz, a strategic waterway that handled one-fifth of global oil and liquefied natural gas shipments before the war began in February. The two countries discussed a joint temporary navigational corridor through the strait and agreed to clear it of mines.
Oil prices steadied on Tuesday after falling over 2% on Monday, as investors assessed the impact of expanded U.S. secondary sanctions against Iran announced by Treasury Secretary Scott Bessent. The U.S. is pursuing economic coercion rather than military force, which analysts said reduced concerns about threats to Middle Eastern oil supply.
Oil prices rose modestly in early Thursday trade as investors assessed the US-Iran conflict and shipping security through the Strait of Hormuz. Brent crude for October delivery rose 0.3% to $91.87 a barrel, while both Brent and WTI benchmarks gained for a fourth straight session, with analysts citing Middle East tensions and uncertainty over peace talks as supporting elevated prices.
Long-term borrowing costs across major economies have reached their highest levels since 2007, driven by inflation concerns, government debt, and AI spending. Rising oil prices, fueled by Middle East tensions, are pushing bond yields higher as investors fear inflation may spike again.
Oil prices climbed Tuesday after Iran said it would adopt a "fully offensive" military posture and the U.S. ruled out extending a ceasefire agreement, with progress toward reopening the Strait of Hormuz stalled. Brent crude rose 0.3% to $91.14 a barrel and U.S. West Texas Intermediate gained to $85.04.
President Donald Trump has threatened to bomb Oman if it "gets in the way" of US talks with Iran over reopening the Strait of Hormuz, according to Fox News. The waterway has been largely closed for nearly six months during US-Iran conflict, and both the US and Oman have been negotiating separately with Tehran to restore access.
President Trump has threatened to bomb Oman if it "gets in the way" of US talks with Iran, according to Fox News. The US and Oman have been separately negotiating with Tehran to reopen the Strait of Hormuz, which has been largely closed for nearly six months during the US-Iran war.
Dr. Thomas Oertle has been appointed Ambassador of Switzerland to Ghana, Benin and Togo. He previously served as Switzerland's Head of Mission in Muscat and held senior roles in African cooperation and Middle Eastern diplomacy.
Oil prices held at one-week highs on Tuesday as hopes for a US-Iran peace deal dimmed following President Trump's demands for compensation, with Brent crude at $87.81 a barrel and U.S. West Texas Intermediate at $82.20. Saudi Aramco has postponed the restart of its Jazan refinery to August 30 after the Houthis claimed attacks on the plant.
Oil prices rose Monday as Iran said a deal with Oman on new shipping lanes was in final stages but insisted the U.S. must meet other conditions before the Strait of Hormuz reopens. Brent crude rose to $84.46 a barrel and U.S. West Texas Intermediate to $78.79, with both benchmarks recovering from last week's 7% decline that followed hopes for a deal.
Oman says positive talks are underway with Iran over an agreement to secure a shipping route through the Strait of Hormuz, though Iran warns that any deal would not immediately reopen the waterway. Iran says reopening depends on other conditions, including US compensation for alleged violations of a ceasefire agreement.
Oil prices extended gains on Friday as Iran, working with Oman, proposed banning vessels deemed hostile from the Strait of Hormuz and imposing heavy fines for violations. Brent crude rose to $83.29 a barrel and U.S. West Texas Intermediate to $77.93, with analysts attributing the move to concerns over Iran's draft plan to ban U.S. and Israeli vessels from the strait through which roughly a fifth of the world's oil and liquefied natural gas is transmitted.
Oil prices declined Thursday as Iran and Oman reported progress on talks regarding a shipping route through the Strait of Hormuz, with investors watching for signs of a broader U.S.-Iran peace deal. Brent crude fell 0.42% to $79.12 per barrel, while U.S. West Texas Intermediate dropped 0.56% to $74.80 per barrel.
Iran says it has reached an agreement with Oman on a shipping route through the Strait of Hormuz, with geographical coordinates agreed in final stages. Iran's foreign ministry spokesman warned that the deal alone would not guarantee safe navigation, citing the US blockade of Iran's ports as a continuing security threat.
Oil prices fell to a three-week low as US officials announced progress in talks with Iran on reopening the Strait of Hormuz waterway. Brent crude dropped nearly 5% to under $80 a barrel, with US West Texas Intermediate also falling more than 5% to $76, both reaching their lowest levels since 13 July.
Oil prices fell to a three-week low after US officials announced progress in talks with Iran to reopen the Strait of Hormuz, with Brent crude dropping nearly 5% to under $80 a barrel. US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent said talks had progressed and a deal could be agreed as soon as this week.
Oil prices rebounded 1% on Tuesday after a steep plunge, driven by concerns that Middle East supply remains at risk as diplomatic resolution to the U.S.-Iran war seems unlikely. Brent futures rose to $84.89 a barrel and WTI crude to $81.11, though Iran's Foreign Ministry rejected Trump's claims of ongoing negotiations to end the conflict over control of the Strait of Hormuz, a channel for about a fifth of global crude oil and natural gas shipments before the conflict.
The National Petroleum Authority CEO explained that Ghana's fuel prices increased despite falling global crude oil prices because refined petroleum products became more expensive during the recent conflict involving the United States, Israel and Iran. He noted that diesel prices rose from about $794 to $1,340 per metric tonne and cited the international price of refined products, exchange rate, and taxes and margins as the three factors determining Ghana's fuel pricing.
US President Donald Trump said new talks with Iran will begin Monday after he called off what he described as "massive" strikes on the country. Saudi Arabia, the UAE, and Qatar reportedly asked him to hold off on any attack, citing progress toward a deal on the Strait of Hormuz and nuclear issues.
President Trump said the U.S. will hold off on attacking Iran if a deal can be reached quickly to end Iran's nuclear programme and reopen the Strait of Hormuz, following requests from Iran and other Middle Eastern countries.
An avalanche on Pakistan's Broad Peak killed four climbers and left six others missing from a mountaineering team led by Nirmal Purja. Search and rescue operations have been suspended due to weather and are set to resume the following day.
Motorists and consumers will pay more for petroleum products from August 1 as rising global crude oil prices and cedi depreciation push up ex-pump prices. According to the Chamber of Oil Marketing Companies, petrol is projected to increase by 7.58%, diesel by 12.50%, and LPG by 4.13% for the August 1–15 pricing window.
President Trump has halted attacks on Iran for the third consecutive night to create space for talks, according to US ambassador Mike Waltz, while an Iranian spokesperson confirmed Tehran has also paused retaliatory attacks. Oil prices have dropped below $90 per barrel following the pause.