Iranian attacks in Strait of Hormuz threaten to drive U.S. gas prices to record highs

As the war enters its third week, U.S. military officials say 6,000 Iranian military targets have been struck, including ballistic missile sites and air defense systems and that Iran’s navy has been rendered, quote, combat ineffective.  Yet Iran continues to maintain its stranglehold over a tiny elbow of water called the Strait of Hormuz. It … Read more

Iran’s control over the Strait of Hormuz could raise consumer prices across the board

The threat of Iranian attack on ships in the Strait of Hormuz is disrupting global energy supplies and could soon send the price at the pump to a new record high. With the passage of oil tankers and cargo ships all but halted in and around the strategically vital waterway, the price of food, transported … Read more

Strait of Hormuz disruption threatens to shake global economy

The near shutdown of the Strait of Hormuz is beginning to ripple through the global economy, threatening energy supplies, raising fuel prices, and reshaping geopolitical dynamics. The narrow waterway along Iran’s southern coast is one of the most important shipping lanes in the world. It connects the oil-rich countries of the Persian Gulf to international … Read more

Trump wants other countries to help reopen the Strait of Hormuz. That might not be so easy.

U.S. allies and rivals responded cautiously after President Donald Trump said they should police the Strait of Hormuz, as Iranian threats to strike shipping on the vital trade route continue to cause chaos in global markets. “Many countries, especially those who are affected by Iran’s attempted closure of the Hormuz Strait, will be sending War … Read more

Energy secretary: Strait of Hormuz not safe for shipping

IE 11 is not supported. For an optimal experience visit our site on another browser. Now Playing Energy secretary: Strait of Hormuz not safe for shipping 01:42 UP NEXT Trump says there’s been ‘total obliteration’ of Iran militarily 01:55 Protesters in Cuba attack Communist Party office 00:32 High winds tear roof off of Ohio building … Read more

Trump urges US allies to send warships to Strait of Hormuz as Iran vows to retaliate

CAIRO — Gulf states reported new missile and drone attacks Sunday after Tehran threatened to widen its campaign and called for the evacuation of three major ports in the United Arab Emirates as Iranian strikes there — part of a broader war with the United States and Israel — progress into their third week. Bahrain, … Read more

Trump administration has vowed to escort oil tankers through Strait of Hormuz. How would that work?

With oil markets paralyzed by the war between the U.S. and Iran, the Trump administration is weighing a military operation to escort ships through a vital maritime chokepoint — a massive undertaking that experts say could already be in the preparatory stages. Since the U.S. and Israel’s war with Iran began two weeks ago, more … Read more

Trump administration signals U.S. will escort oil tankers in Strait of Hormuz

Treasury Secretary Scott Bessent signaled the U.S. Navy may begin to escort oil tankers in the Strait of Hormuz as the Iran war rages on. Mark Cancian, a senior adviser with the Center for Strategic and International Studies’ Defense and Security Department, joins CBS News with more. Source link