What the US Navy accepts is risk to send ships through tends to be different than what the merchant ships do.”

A United Arab Emirates company has expedited construction of a second oil pipeline to bypass the Strait of Hormuz, but normal flow through the region, and potential price stabilization, is still several months away,

Global crude oil prices could surge to $200 per barrel if the Strait of Hormuz remains closed, warns Wood Mackenzie, highlighting risks of recession, inflation, and energy supply shocks

Worst-case scenario warns of deep economic impact as three possible outcomes outlined amid ongoing Iran conflict

The United States and Iran continued to hold sharply differing positions on Tehran’s uranium stockpile and its control over the Strait of Hormuz on Thursday, although officials on both sides acknowledged that recent diplomatic contacts had yielded limited progress.

The warning came as the US and Iran maintained opposing stances on Tehran’s uranium stockpile and controls on the Strait of Hormuz on Thursday, although US Secretary of State Marco Rubio said there had been “some good signs” in talks.

But reopening of strait in Arabian Gulf remains critical for full flow of trade activity to resume