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US-Iran ceasefire tested near Qatar as Trump awaits ceasefire response
NEWS
5/10/2026

US-Iran ceasefire tested near Qatar as Trump awaits ceasefire response

A cargo ship caught fire on Sunday after being hit by an unknown projectile off Qatar’s coast, the British military said, in the latest attack on vessels in the Persian Gulf since a shaky ceasefire stopped fighting between the US and Iran. The Trump administration says the month-old ceasefire remains in effect, but it has been repeatedly tested with Iran restricting traffic through the Strait of Hormuz and the US imposing a blockade of Iranian ports. Washington has been awaiting Iran’s response...

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SCMP Economy
US strikes Iranian tanker amid reports Washington and Tehran near deal
NEWS
5/6/2026

US strikes Iranian tanker amid reports Washington and Tehran near deal

US forces struck an Iranian oil tanker in the Gulf of Oman on Wednesday, even as Washington and Tehran appeared to move closer to a tentative agreement to end their two-month war, with US President Donald Trump warning that renewed bombing could begin if Iran rejects the proposed deal. A US fighter jet disabled the tanker by targeting its rudder as the vessel attempted to breach an American naval blockade of Iranian ports, US Central Command said in a social media post. The strike highlighted...

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SCMP Economy
Brent oil surges above $126 as Trump warns Iran blockade could last months
BREAKING
Business·4/30/2026AI summary

Brent oil surges above $126 as Trump warns Iran blockade could last months

Brent crude oil surged above $126 per barrel, its highest level since 2022, after Donald Trump warned the US blockade of Iranian ports could last months. The 13% price jump in 24 hours comes as US-Iran peace talks in Islamabad failed to materialize and the Strait of Hormuz remains effectively closed. Analysts warn a prolonged Hormuz crisis could send oil to $190 by August and trigger a global recession.

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Guardian Business
Brent Oil Surges Above $126 as US-Iran Blockade Threatens Months-Long Stalemate
BREAKING
Business·4/30/2026AI summary

Brent Oil Surges Above $126 as US-Iran Blockade Threatens Months-Long Stalemate

Brent crude oil surged above $126 per barrel, its highest level since 2022, after Donald Trump warned the US blockade of Iranian ports could last months. The 13% one-day surge came as US-Iran peace talks failed to materialise and Iran kept the Strait of Hormuz largely shut to oil tankers. Analysts warn a six-month blockade could push prices to $190, with economist Paul Krugman warning a global recession is more likely than not if the strait remains closed for three months.

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Guardian Business
Oil Prices Surge 6% on Trump Iran Blockade Threat
Urgent
Energy·4/29/2026AI summary

Oil Prices Surge 6% on Trump Iran Blockade Threat

Oil prices jumped more than 6% Wednesday after President Trump said he will maintain the U.S. naval blockade against Iran until they agree to a nuclear deal. Brent crude futures rose to $118.33 per barrel and WTI to $106.37 per barrel. Trump told Axios the blockade is 'more effective than the bombing' as Iran refuses to reopen the Strait of Hormuz. Meanwhile, the UAE's decision to quit OPEC represents a 'big blow' to the oil producer group, analysts said.

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CNBC
Oil and gas prices jump on reports US will extend blockade of Iranian ports
BREAKING
Business·4/29/2026AI summary

Oil and gas prices jump on reports US will extend blockade of Iranian ports

Oil and gas prices surge as reports indicate the US may extend its blockade of Iranian ports for months. Brent crude rose 5% to almost $117 a barrel, approaching the highest level since the Iran war began. UK gas prices also increased 5%, while the FTSE 100 fell 1.2% to its lowest level since April 1. President Trump met with energy company executives to discuss measures to calm oil markets amid the prolonged blockade.

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Guardian Business
Oil Prices Surge as UAE Quits OPEC, US Extends Iran Blockade
Urgent
Energy·4/29/2026AI summary

Oil Prices Surge as UAE Quits OPEC, US Extends Iran Blockade

Oil prices advanced sharply on Wednesday as markets digested the UAE's shock exit from OPEC alongside reports the US will extend its blockade of Iranian ports, deepening fears of prolonged disruption through the Strait of Hormuz. Brent crude rose 3% to $114.64 per barrel while WTI jumped 3.6% to $103.54, with the market focusing on developments in the Persian Gulf rather than OPEC's internal rupture.

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CNBC
Oil Prices Surge as UAE Quits OPEC, US Extends Iran Port Blockade
Urgent
Business·4/29/2026AI summary

Oil Prices Surge as UAE Quits OPEC, US Extends Iran Port Blockade

Oil prices advanced Wednesday as traders weighed the UAE's shock departure from OPEC against signs the Iran war will continue. Brent crude rose 3.5% to $115.13 per barrel, marking its seventh consecutive positive session. WTI climbed 3.7% to $103.69, up 49% since the US-Israel war against Iran began Feb. 28. The US plans to extend its blockade of Iranian ports, deepening Strait of Hormuz disruption fears, while Trump threatened Iran on Truth Social.

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CNBC