US Launches 3rd Round of Strikes on Iran After IRGC Closes Strait of Hormuz; Global Oil Supply at Risk

US Strikes IRGC Targets in Strait of Hormuz; 5 Killed in Wedding, Oil Prices Cross $95/Barrel

The US and Iran have exchanged significant military strikes, ending a month-long lull. US Central Command targeted IRGC air-defence and maritime sites in response to attempted attacks on commercial shipping in the Strait of Hormuz. Iran retaliated with missiles and drones, hitting a wedding venue in southern Iran, killing five and wounding dozens. The Strait of Hormuz remains largely disrupted, pushing Brent crude above $95/barrel and raising global energy security concerns.

Iran-Oman Strait of Hormuz Shipping Deal Nears Finalisation; Security Not Guaranteed

Iran and Oman are finalising a shipping route agreement for the Strait of Hormuz, a chokepoint for ~20% of global oil. India, a major crude importer from the Gulf, must watch this closely as any disruption directly impacts fuel prices, shipping costs, and energy security. The deal remains contested, with Iran demanding oversight and fees, while the US insists on freedom of navigation without tolls.

US Imposes Sanctions on 60 Iran-Linked Entities; Iran Threatens Strait of Hormuz Oil Chokepoint

The US has widened economic sanctions on Iran, targeting 60 entities and vessels, while Tehran retaliates by threatening military action and blacklisting 45 tankers in the Strait of Hormuz. For India, which relies heavily on Persian Gulf oil, this escalation could raise energy costs and test diplomatic balancing. The situation directly impacts global oil supply, with the Strait carrying ~20% of world oil use.

Iran-Oman Negotiate Strait of Hormuz Reopening: US Disputes Iran's Proposed 'Service Fee' on 20% Global Oil Route

Iran and Oman are negotiating a framework to reopen the Strait of Hormuz, with Iran proposing a 'service fee' for vessels using its controlled lane. The US strongly opposes any arrangement that grants Iran control or revenue from the strategic waterway, creating a complex diplomatic standoff with direct implications for global energy security and India's oil imports.

Kerch Strait Tensions Risk Global Food Crisis as Russia-Ukraine Supply 25% of Wheat

The escalation of strikes on Black Sea ports, Kerch Strait, and Sea of Azov threatens to disrupt grain exports from Russia and Ukraine, reviving global food crisis fears similar to March 2022. With both countries accounting for over a quarter of world wheat exports and 60% of sunflower oil, the paralysis of maritime trade could spill over into food supply shortages, especially when compounded by West Asia war and extreme weather events.

Brent Crude Falls $4.08 as Trump Halts Iran Attack for Strait of Hormuz Deal

Oil prices crashed over $4/barrel after President Trump halted a planned attack on Iran to pursue a nuclear deal. The move has de-escalated fears over Strait of Hormuz disruptions, but OPEC+ also approved a 188,000 bpd quota increase, adding downward pressure.

Iran's 7-Day Plan to End War: Reopen Strait of Hormuz, US to Waive Sanctions on $12B Frozen Assets

Iran proposes a 7-day plan to end the war with the US, reopen the Strait of Hormuz, and restart nuclear talks. The proposal mirrors a June MoU that collapsed. With US midterm elections approaching, the timing is critical as high fuel prices hurt Trump's approval ratings. This has direct implications for global energy markets and India's strategic interests in West Asia.

Strait of Hormuz Crisis: Oil Jumps 5% as Iran-US Compensation Demands Stall Reopening

Oil prices surged ~5% as hopes for reopening the Strait of Hormuz faded after Iran demanded US sanctions relief and compensation, while President Trump counter-demanded compensation from Iran for past attacks. This standoff threatens global energy supplies, especially for import-dependent nations like India, and has pushed Brent crude to $87.72/barrel.