Iran threatens to close Hormuz as clash with US widens
Oil prices rose in early Asia trading, while Kuwait activated emergency measures to keep electricity and water supplies running.
Oil prices rose in early Asia trading, while Kuwait activated emergency measures to keep electricity and water supplies running.
Why it matters: attacks on Gulf infrastructure and shipping in the Strait of Hormuz are raising risks for global oil supplies and consumer fuel prices.
Why it matters: The strait carries about one-fifth of global oil trade, and tanker transits fell to four on Sunday from eight a day earlier.
Why it matters: About one-fifth of global oil trade normally moves through the strait, and tanker traffic has already thinned.
Why it matters: Higher oil prices are reviving inflation fears and keeping at least one Fed rate hike this year in play.
Why it matters: Brent ended at $88.10 and WTI at $82.49 after both benchmarks surged about 16% for the week.
IRGC also claimed strikes on a U.S. Navy fuel dock in Kuwait and fighter deployment sites in Bahrain in Nasr 2.
What's new: only four vessels transited the strait Sunday, down from eight a day earlier, as dual blockades threatened tighter inventories.
What's new: The latest death in Iraq brought the US toll to 17 since Feb. 28, while Kuwait and Bahrain reported fresh Iranian attacks.
Why it matters: Fighting has again choked traffic through the Strait of Hormuz, pushing oil to about $85 a barrel.
Why it matters: The deaths are the first from direct Iranian fire in the war, as Tehran also pulled back from a month-old interim deal.
Why it matters: Brent crude rose 3% as fighting spread to shipping lanes near the Strait of Hormuz and the Red Sea.
What's new: Hormozgan officials said seven people were killed, while Iran claimed attacks on sites in Oman, Kuwait, Bahrain and al-Tanf in Syria.
New: IRGC also urged Jordan to close U.S. bases and claimed the attacks will continue if the kingdom keeps hosting them.
Earlier: Iran strikes U.S. bases in Bahrain, Kuwait, targets 85 sitesSeries: United States · Iran Conflict Escalation · 32 chapters since Jul 7Why it matters: Oil climbed above $86 a barrel as shipping through the Strait of Hormuz fell to a three-week low.
Why it matters: Brent crude rose 3% and the collapsed ceasefire is pushing Washington and Tehran closer to wider war.
What's new: Kuwait reported damage at a power and desalination station as Bahrain, Qatar and Jordan intercepted Iranian attacks.
Why it matters: The closed Strait of Hormuz is disrupting oil flows, and the IEA chief warned global energy supplies could come under strain within weeks.
Why it matters: tanker traffic through the strait has nearly stalled, pushing up oil prices as Kuwait and Bahrain reported drone threats.
Washington also lined up a $484 million C-17 maintenance package for Kuwait as tensions with Iran intensified.
IRGC also said strikes reached Bahrain and Oman, and that the Strait of Hormuz will remain closed until U.S. military operations stop.
Earlier: Iran claims strikes on US bases and radar in Kuwait, Bahrain, OmanSeries: Iran · US Iran Military Escalation · 5 chapters since Jul 13Why it matters: The clash centers on the Strait of Hormuz after a commercial ship was set ablaze, threatening oil flows and wider war talks.
Why it matters: The flare-up threatened traffic through the Strait of Hormuz, a route that carried about a fifth of traded oil and gas before the war.
What's new: Air raid sirens sounded in both Gulf states as Washington broadened strikes after tanker attacks in the Strait of Hormuz.
What's new: The US hit 80 targets Tuesday and Iran fired missiles and drones at Kuwait and Bahrain, widening the conflict.
Why it matters: Gulf states fear a $300 billion fund and no missile limits could leave Tehran stronger while US bases remain exposed.
New: at least seven drone strikes were launched from near Basra and Samawa between April 20 and May 17, sources said.
Why it matters: Kharg Island handles about 90% of Iran's oil exports, raising the risk of a wider energy shock.
Why it matters: The exchange put U.S. troop hosts under fire and kept pressure on oil markets, with Brent crude above $92 a barrel.
What's new: Tehran warned any seizure or transfer without its consent would trigger an unspecified response as talks over frozen funds continue.
Why it matters: The step could deepen the US-Iran standoff as ceasefire talks falter and Gulf allies seek compensation for damage.
Why it matters: The exchange further strains an April ceasefire and keeps pressure on Strait of Hormuz shipping and oil flows.
Why it matters: The strikes hit traffic near the Strait of Hormuz and prompted Bahrain sirens as oil and gas route risks climbed.
What's new: Tehran reported no tangible progress, even as Trump pushed for a weekend breakthrough and Gulf tensions flared again.
Why it matters: Oil rose more than 2% as fighting again threatened the Strait of Hormuz, a key route for global energy shipments.