Strait of Hormuz News Updates

Iran has threatened it won't allow “even a single liter of oil” destined for the U.S., Israel and their allies to pass through Strait of Hormuz.

The moves include issuing more individual licenses allowing foreign companies to work in Venezuela without violating U.S. sanctions.

“We’re resetting the meeting,” Trump said March 17 at the White House during a sit-down with the Irish prime minister. “[China was] fine with it.” 

The spike in oil and gas prices presents already-divided Federal Reserve officials with a worst-case scenario as they conclude a key meeting March 18.

ATA President Chris Spear outlined for TMC attendees the breakneck pace at which challenges are confronting the carriers that comprise ATA's membership base.

Iran’s attacks on vessels and the threat of mines have cut traffic in the vital waterway to a trickle, effectively putting Tehran in charge of the flow.

The nationwide average retail price reached $5.044 a gallon on March 16, according to AAA, up by more than a third since the Iran conflict began. 

While rates are high, they signal that coverage is available for the few vessels still moving through the waterway. The question is whether shipowners are willing to make the transit.

After years of being antagonized by President Trump, U.S. allies in Europe and Asia are in no hurry to heed his demand that they send ships into a war he started and has claimed to have won.

Fears of a global energy crisis rose March 16 as the war in the Middle East raged on, with more U.S.-Israeli strikes on the Iranian capital and Israel's bombardment of Lebanon.