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.

India’s UN envoy Parvathaneni Harish called for global cooperation to tackle energy and fertiliser disruptions while warning against threats to commercial shipping in the Strait of Hormuz.

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,

Israel and Lebanon have decided to extend ceasefire, which has been in place since April, by 45 days and conduct new talks on a political settlement. However, tensions have intensified across West Asia as fighting continued between Israel and Hezbollah.

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.

Max Baecker points out that when the war against Iran began, there was significant profit-taking and gold selling.

The Strait of Malacca carries more than a quarter of global trade, including most of the oil that flows from the Persian Gulf to key Asian markets.

Iranian forces seized a ship off the coast of the United Arab Emirates in late May 2026 and directed it toward Iranian waters. Hours later, Iran’s senior vice president, Mohammadreza Aref, appeared on state television to deliver a message that reverberated through global energy markets: the Strait of Hormuz “has always been our property,