New Delhi, May 1 (IANS) Crude oil prices rose on Friday as efforts to resolve the Iran crisis reached a stalemate, with Tehran continuing to block the Strait of Hormuz and Washington restricting Iranian crude exports.Brent futures for July on Intercontinental Exchange gained $0.81, or 0.73 per cent, to $111.21 a barrel, while West Texas Intermediate rose 31 cents, or 0.30 per cent, to $105.37. Both benchmarks have posted gains for four consecutive months, analysts noted.Brent crude oil had cross…
Latest Strait of Hormuz News & Updates
Mumbai, May 1 (IANS) The Indian equity benchmarks closed in the red this week, as persistent selling from the foreign institutional investors (FIIs) and higher crude prices weighed on market sentiment.Nifty lost 0.73 per cent during the week and dipped 0.74 per cent on the last trading day to reach 23,997. At close, the Sensex was down 582 points or 0.75 percent at 76,913. It dropped 0.97 per cent during the week.”Investor sentiment remained cautious as the double blockade in the Strait of Hormu…
Tehran, May 1 (IANS) Iranian Foreign Minister Seyed Abbas Araghchi and Lebanese Parliament Speaker Nabih Berri have strongly condemned Israel’s “aggressive” actions against Lebanon.In a phone call, the two sides discussed the latest developments in Lebanon and the West Asia region, peace negotiations between Iran and the United States, and other issues of common concern, Xinhua news agency reported quoting a statement released by the Iranian Foreign Ministry on Thursday.Araghchi and Berri called…
Tehran, April 30 (IANS) Iranian President Masoud Pezeshkian said on Thursday that Tehran is ready for the path of diplomacy if Washington changes its approach, local media reported.He emphasised the readiness to pursue the diplomatic process if the US changes its excessive approach and provocative actions.In a phone call with Japanese Prime Minister Sanae Takaichi, Pezeshkian attributed the current insecurity in the Gulf and the Strait of Hormuz to the actions of the United States and Israel, st…
Berlin, April 30 (IANS) German Chancellor Friedrich Merz said on Thursday that Germany is committed to bringing an end to Iran’s blockade of the Strait of Hormuz and stands ready to engage militarily to ensure the freedom of navigation, if necessary conditions are met.Speaking during a visit to the German Army Bundeswehr in the northern city of Munster, Merz warned that a prolonged blockade of the Strait of Hormuz would cause “massive economic damage for us all.””The work carried out by the Bund…
Tehran, April 30 (IANS) Asserting that a “new chapter” is being drawn in the Persian Gulf and the Strait of Hormuz, Iran’s Supreme Leader Mojtaba Khamenei said on Thursday that a new “legal framework” and management of the Strait of Hormuz will bring progress and comfort to all nations in the region. In a message released on the occasion of the National Day of Persian Gulf, Mojtaba Khamenei said spotlighted the “sacrifices” made by Iran for the independence of the Persian Gulf and “confronting f…
New Delhi, April 30 (IANS) Iran and the US’s blockage of the Strait of Hormuz is “illegal, and the breakdown of the rule of law and rules-based order”, India’s former Ambassador to the UAE and Egypt Navdeep Singh Suri said on Thursday. In an interview with IANS, Suri stated that the recent developments in West Asia have a direct impact on the Indian economy. He called for seeing Strait of Hormuz going back to the status it enjoyed prior to February 28, when the US and Israel attacked Iran.On how…
New Delhi, April 30 (IANS) India is advancing a roadmap to add 62 vessels in FY2026–27 backed by a investment of Rs 51,383 crore, creating an additional 2.85 million gross tonnage (GT) capacity, according to the government.In a push towards self-reliance in the maritime sector, a high-level inter-ministerial review meeting on the Strait of Hormuz situation pivoted to accelerating India’s shipping capabilities, with a renewed focus on building a robust, future-ready maritime ecosystem.Ministe…
Washington, April 30 (IANS) President Donald Trump has said that the United States is weighing a possible reduction of American troops in Germany, with a decision to be made over “the next short period of time,” after he decried European allies over a lack of support for the US-Israeli war against Iran. Trump made the remarks in a social media post on Wednesday (Local time) following a recent report by The Wall Street Journal that his administration is considering punishing some members of the N…
New Delhi, April 29 (IANS) The Strait of Hormuz crisis triggered by the recent US-Iran conflict is not just a regional flashpoint but a defining test for international maritime law — one that could shape how nations behave in other strategic choke points during times of crisis, a report said on Wednesday. According to a report in ‘Politeia Research Foundation’ (PRF), at current situation in Hormuz highlights a growing tension between the United Nations Convention on the Law of the Sea (UNCLOS)…