The world's oil stockpiles could approach all-time lows by the end of May due to the Strait of Hormuz closure, according to UBS.

Energy Secretary Chris Wright on Friday suggested that the Strait of Hormuz, which Iran has kept closed amid its ceasefire with the U.S., will reopen “sometime this summer at the latest.” CNBC’s Brian Sullivan spoke with Wright at a new liquefied natural gas facility in Cameron,

DUBAI, May 14 (Reuters) - Iran has begun allowing some Chinese vessels to transit through the Strait of Hormuz following an understanding over Iranian management protocols for the waterway, the semi-official Fars news agency said on Thursday,

The initiative, led by the UK and France, would only begin once a ceasefire has been declared but could involve 40 nations.

Average gas prices in Minnesota reached $4.45 per gallon this week as the Strait of Hormuz continues to be closed.

Iran claims it has deployed small submarines as an "invisible guardian" of the Strait of Hormuz, but analyst says the vessels pose limited strategic threat.

Pakistan’s ports are unusually receiving bulk cargo shipments due to closure of Strait of Hormuz and reluctance of foreign cargo ships to use gulf ports in wake of ongoing Middle East conflict.

Iran’s first vice president went on state television in mid-May 2026 and made a claim that no amount of diplomatic language can soften: the Strait of Hormuz, he said, “has always been our property,” and Tehran will not give it up “at any price.