Strait of Hormuz traffic plunges as US, Iran resume fighting
Brent crude holds steady despite a plunge in traffic in the critical waterway.
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From: NewsFeed
Russia’s Medvedev says Strait of Hormuz is Iran’s ‘nuclear weapon’
Dmitry Medvedev says Iran’s ability to disrupt traffic in the Strait of Hormuz is equivalent to possession of a nuclear.
Published On 4 Jul 2026
Ukraine hits oil and military facilities near Russia’s St Petersburg
Kyiv’s drones disrupt St Petersburg internet and flights as Russian strikes halt a gas facility in central Ukraine.
Canada’s Carney secures deal for pipeline to expand oil exports beyond US
Ottawa says future pipeline will reduce economic dependence on the US amid Donald Trump’s trade war.
Iran warns ships against using unapproved routes in Strait of Hormuz
Military command issues threat a day after Qatari mediators hailed ‘positive progress’ in indirect US-Iranian talks.
EXPLAINER
Who is Iranian oil tycoon Shamkhani whose ship is stranded in Hormuz?
Iranian oil shipping magnate Mohammad Hossein Shamkhani has been sanctioned by the West over his shadow fleet.
EXPLAINER
With Hormuz reopened, has the oil shortage turned into a glut?
As flow resumes through the strait, an oil surplus may yet again destabilise global energy markets.
![FILE PHOTO: Vessels at the Strait of Hormuz, as seen from Musandam, Oman, [Reuters]](https://www.aljazeera.com/wp-content/uploads/2026/07/reuters_6a464d29-1782992169.jpg?resize=770%2C513&quality=80)
Oil prices fall to levels not seen since start of US-Israel war on Iran
Brent falls below $71 a barrel amid reports of progress in talks to end the war permanently.
ANALYSIS
‘Never the same’: How war on Iran changed the global energy sector
Conflict will accelerate shift to renewables and search for alternatives to Strait of Hormuz, energy analysts say.
From: Counting the Cost
Caught between the US and China, can Europe remain competitive?
As trade tensions grow, Europe tries to remain competitive while balancing ties with the US and China.
Published On 1 Jul 2026
From: NewsFeed
Iran says it couldn’t export a ‘single barrel of oil’ during US blockade
Iran was unable to export any oil during the US blockade of its ports, the country’s chief negotiator has said.
Published On 1 Jul 2026