Hormuz Traffic Dwindles As US Threatens Economic Pressure
Commercial transit nearly stalled after two ADNOC vessels were hit, while the United States said it could keep a naval blockade in place indefinitely.
- Two vessels from the Abu Dhabi National Oil Company were attacked in the Strait of Hormuz on Thursday evening, causing transit through the waterway to grind to a near standstill on Friday.
- An Iranian parliamentary committee approved a plan Thursday banning transit for assets from "hostile" countries, including the United States and Israel, as Tehran refuses to reopen the waterway until its conditions are met.
- Defense Secretary Pete Hegseth asserted the United States Navy can maintain the blockade indefinitely, while Treasury Secretary Scott Bessent promised measures next week applying "economic isolation" on Iran.
- Benchmark Brent and West Texas Intermediate crude futures rose slightly to about $87 and $81 a barrel respectively, reflecting energy market volatility from the regional conflict.
- President Donald Trump faces mounting pressure to end the conflict before November midterm elections, as global economists warn the economic impact will worsen if the war continues.
35 Articles
35 Articles
Strait of Hormuz boat traffic at near standstill
LONDON — Transit through the Strait of Hormuz appeared to grind to a near standstill Friday after two more ships were attacked there and the United States said it could maintain a naval blockade of Iran indefinitely.
The Iran War Is Now About Economic Pressure
“Senior Trump administration officials have doubled down on economic pressure in the fight with Iran, making lower oil prices a top war aim and vowing unprecedented financial sanctions that would force Tehran to reopen the Strait of Hormuz,” the Wall Street Journal reports. “Iran late Thursday attacked two United Arab Emirates ships in the strait, […]
Hormuz traffic slows further as two more ships attacked
Dubai/Washington - Transit through the Strait of Hormuz appeared to grind to a near standstill on Friday after two more ships were attacked there and the United States said it could maintain a naval blockade of Iran indefinitely.
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