Strait of Hormuz Closure Blocks 20% of Global Oil Trade; Prices Surge 12% to $78.31 Amid US-Iran Conflict

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.

Strait of Hormuz Control Dispute: US Patrolling, Iran Claims – Shipping Down 92% to 6 Vessels/Day

Strait of Hormuz, a critical chokepoint for 20% of global oil and LNG, remains disrupted as US and Iran dispute control. Shipping traffic is down 92% from pre-war levels, pushing oil prices to $91.79/barrel, directly impacting India's import bill and inflation.

US Sanctions 'Operation Economic Outcast' on Iran; Resistance Economy & Strait of Hormuz Leverage Limit Impact

The US announced sweeping new sanctions on Iran, dubbed 'Operation Economic Outcast' and 'Economic D-Day', targeting 60 entities across multiple sectors. However, historical patterns, Iran's institutionalized 'resistance economy', and its strategic leverage over the Strait of Hormuz suggest these sanctions will have limited coercive effect, potentially hardening Tehran's resolve and improving its bargaining position.

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.

Pakistan Army Chief Visits Iran: Talks on Reopening Strait of Hormuz, De-escalation of US-Iran Conflict

Pakistan's Army Chief visited Iran to discuss reopening the strategically vital Strait of Hormuz and de-escalating the US-Iran conflict. The strait, through which a fifth of global oil passed before the conflict began, remains choked. This visit is part of Pakistan's broader mediation efforts, having previously acted as a guarantor for an interim peace agreement that has since derailed.

Houthi Capture of Perim Island Threatens Bab el-Mandeb Strait and Saudi Oil Exports via Red Sea

Houthi forces, backed by Iran, have captured Perim Island in the Bab el-Mandeb Strait, a critical chokepoint for global oil shipments, especially after the Strait of Hormuz disruption. This move threatens Saudi Arabia's alternative Red Sea export route and could spike oil prices. Saudi airstrikes have retaliated, escalating the Yemen conflict.

US Share in India's LPG Imports Surges to 53% as West Asia War Disrupts Strait of Hormuz

The West Asia war has disrupted LPG supplies through the Strait of Hormuz, forcing India to pivot to US imports which now account for 53% of India's LPG imports. This shift highlights India's vulnerability in energy security and the strategic importance of the Strait of Hormuz for exam aspirants.

Houthis Seize Perim Island at Bab el-Mandeb Strait; Oil Prices Surge Above $100

Houthi capture of Perim Island threatens the Bab el-Mandeb Strait, a critical chokepoint for global oil and trade, especially after the Strait of Hormuz was effectively closed. This could spike oil prices above $100, impact India's energy security, and escalate the Iran-US proxy war via Yemen.