Strait of Hormuz fallout tightens supplies, keeping fuel prices elevated

Oil prices sharply rose on Monday afternoon as Iran suspended all indirect talks with the US and vowed to fully close the Strait of Hormuz.

Iran said it will halt nuclear talks with the U.S. and block the key shipping chokepoint until Israel withdraws from Lebanon

By Isabel Wang and Myra P. Saefong

Strait of Hormuz fallout tightens supplies, keeping fuel prices elevated

Global oil prices tumbled by around 20 per cent from 2026 highs in May as investors grew increasingly optimistic on prospects for a long-lasting ceasefire deal between the U.S.…

Oil prices held steady Tuesday, following Monday's surge, as global markets weighed U.S.-Iran ceasefire talks and the potential reopening of the Strait of Hormuz. Conflicting…

Oil prices increased slightly on Tuesday amid ongoing uncertainty over talks between the United States and Iran and speculation around the potential reopening of the Strait of…