Strait of Hormuz

April 4, 2026 9:31 AM

Trump proposes ‘historic’ defense spending budget, eyes 10% cut to other federal programs

President Donald Trump on Friday requested a 10% cut in non-defense spending for the 2027 fiscal year and a massive $500 billion increase in the military budget, as the U.S. continues its war against Iran. The 2027 budget request comes as the president faces risky choices abroad, with the administration sending U.S. service members to the Middle East, and a weary public at home feeling the economic crunch of skyrocketing gas prices due to the conflict. The request ultimately requires approval ...

April 4, 2026 9:26 AM

Trump says US can take Strait of Hormuz with more time

President Donald Trump on Friday said the U.S. can open the Strait of Hormuz with a little more time, as pressure mounts for his administration to find a quick resolution to a war against Iran. "With a little more time, we can easily OPEN THE HORMUZ STRAIT, TAKE THE OIL,& MAKE A FORTUNE," Trump said in a post on Truth Social. Nearly five weeks after it started ⁠with a joint U.S.-Israeli aerial assault, the war in Iran continues to spread chaos across the region and roil financial markets...

April 2, 2026 4:00 PM

UK to host talks with 35 countries on reopening Strait of Hormuz

Britain will host talks on Thursday aimed at forming a coalition of countries to explore ways to reopen the Strait of Hormuz after U.S. President Donald Trump said securing the vital waterway was a problem for other nations to resolve. British foreign minister Yvette Cooper will chair the virtual meeting of about 35 countries including France, Germany, Italy, Canada and the United Arab Emirates around midday in London to explore ways to restore freedom of navigation in the area. The United Stat...

April 2, 2026 3:55 PM

A war meant to break Iran could leave Tehran stronger, and Gulf exposed

If President Donald Trump ends the war with Iran without a deal, he risks leaving Tehran with a stranglehold over Middle East energy supplies and Gulf Arab oil and gas producers grappling with the fallout of a conflict they did not start or shape. Instead of crushing Iran's theocratic rulers, it could leave them stronger, emboldened by surviving weeks of U.S.-Israeli attacks, firing on Arab Gulf states and rattling global energy markets by effectively shutting the Strait of Hormuz. In an inter...

April 1, 2026 3:37 PM

World markets rocket higher on optimism Iran war could end soon

Stocks soared, bonds rallied and the dollar wallowed on Wednesday, as hopes of a de-escalation in the Iran conflict fuelled the biggest rebound in regional equities in more than three years. Europe's STOXX 600 surged 2.3% in early trade - on track for its biggest daily jump in a year - as travel stocks rose about 4% and aerospace and defence stocks were 3.6% higher. German bund yields fell 7 basis points . MSCI's broadest index of Asia-Pacific shares outside Japan rose 4.7%, snapping a four-da...

March 27, 2026 12:25 PM

India’s energy supply fully secure, no need for national energy emergencies: Govt

Petroleum and LPG supply situation is under control and there is no shortage of petrol, diesel or LPG anywhere in the country, while retail outlets have sufficient stocks and are dispensing fuel without interruption, according to the government. As the world’s 4th largest refiner and 5th largest exporter of petroleum products, India's domestic availability is structurally assured, according to Petroleum Ministry. While other nations are declaring "National Energy Emergencies" or implementing...

March 27, 2026 9:26 AM

Trump extends pause on striking Iran’s energy plants into April

U.S. President Donald Trump said he will extend a pause on attacks against Iran's energy plants into April and that talks with Iran were going "very well," but an Iranian official said a U.S. proposal for ending the war as "one-sided and unfair." The four-week war has spread across the Middle East killing thousands of people and hit the global economy with soaring energy prices, fuelling global inflation fears. The United States and Israel launched strikes on Iran on February 28 after talks ab...

March 26, 2026 9:50 AM

Oil surges past $100 as Iran rules out direct talks with US amid escalating tensions

Global crude oil prices climbed sharply on Thursday after Iran signalled that it is not engaged in direct negotiations with the United States to de-escalate the ongoing conflict, dampening hopes of an immediate ceasefire. Brent crude rose 1.21 per cent to $103.46 per barrel, while US West Texas Intermediate (WTI) gained 1.35 per cent to $91.54 per barrel. The spike follows comments by Abbas Araghchi, who clarified that indirect exchanges between Tehran and Washington should not be seen as forma...

March 25, 2026 10:09 AM

Nifty reclaims 23,000, Sensex rises 800 pts on US Iran truce hopes; Brent crude oil dips below USD 100

The domestic equity markets continued their rebound on Wednesday, opening in the green as investor sentiment improved amid reports of a possible truce between the United States and Iran. The Nifty 50 opened at 23,064.40, gaining 152 points or 0.66 per cent, while the BSE Sensex rose by 581.67 points or 0.79 per cent to open at 74,650.12. Market participants remained cautiously optimistic, even as volatility persisted due to uncertainty around geopolitical developments. Ajay Bagga, banking...

March 25, 2026 9:50 AM

Iran tells UN: ‘non-hostile’ ships can transit Strait of Hormuz

Iran has told the United Nations Security Council and the International Maritime Organization that "non-hostile vessels" may transit the Strait of Hormuz if they coordinate with Iranian authorities, according to a note seen by Reuters on Tuesday. The U.S.-Israeli war against Iran has all but halted shipments of about one-fifth of the world's oil and liquefied natural gas through the strait, causing oil supply disruption. The note from Iran's Ministry of Foreign Affairs was sent to the 15-membe...