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Iran tightens grip on Strait of Hormuz as US blocks ships and ceasefire talks stall

Iran has tightened its control over the Strait of Hormuz by seizing two commercial vessels, just as the United States pauses new strikes but keeps a naval blockade in place and peace talks remain in limbo.​ The move came after U.S. President Donald Trump said he was indefinitely suspending renewed military attacks on Iran and extending a shaky ceasefire so Washington could study an Iranian proposal to end the two month old conflict. However, Tehran has not confirmed any formal extension of the truce and has denounced the ongoing blockade of its maritime trade as an act of war.​ Iran’s chief negotiator and parliament speaker Mohammad Baqer Qalibaf said a full ceasefire would only be possible if the U.S. lifted its naval blockade and allowed normal traffic through the Strait of Hormuz, a key route that previously carried around one […]

Abdulmumini Auwal SA April 23, 2026

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international

US upbeat on Iran deal but talks still uncertain as ceasefire deadline looms

The United States remains cautiously optimistic about reaching a new deal with Iran as a two week ceasefire between the two countries nears its end, even though key details of proposed talks in Pakistan are still unsettled. A senior Iranian official told Reuters that Tehran is “positively reviewing” whether to attend planned negotiations in Pakistan, after previously dismissing the idea, but stressed that no final decision has been made. A Pakistani source involved in the process said efforts are underway to restart talks on Wednesday and indicated that U.S. President Donald Trump could join in person or virtually if an agreement comes within reach. According to the Pakistani source, “progress is being made” and discussions are on track, raising hopes that diplomacy can prevent a slide back to open conflict once the ceasefire expires. The truce was agreed after weeks […]

Abdulmumini Auwal SA April 21, 2026

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international

Iran shuts Strait of Hormuz again amid war talks

Iran’s military has again declared the Strait of Hormuz closed, only hours after briefly reopening the vital waterway to commercial traffic. The move has renewed uncertainty over efforts to reach a peace deal in the ongoing US Israeli war with Iran. Tehran announced on Friday that the strait which normally carries about one fifth of global oil and liquefied natural gas shipments was open following a ceasefire in Lebanon that paused Israel’s war with Hezbollah. That decision sent oil prices sharply lower and raised hopes of easing tensions. However, Iran warned it would shut the strait again as long as the United States maintained a naval blockade of Iranian ports. On Saturday, state TV quoted the country’s military central command as saying control of the strait had returned to its previous status and was under strict management by the armed […]

Abdulmumini Auwal SA April 18, 2026

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international

Five ways the Strait of Hormuz affects global oil supply

The potential closure of the Strait of Hormuz poses a major threat to global oil supply, given its role as one of the world’s most critical energy transit routes. The narrow channel connects the Persian Gulf to international markets and serves as a gateway for crude exports from key Middle East producers. Here are five ways the Strait of Hormuz affects global oil supply: Massive disruption to global oil flowAround 20 per cent of the world’s daily oil supply, estimated at roughly 20 million barrels, passes through the strait. A closure would immediately halt a significant portion of exports from major producers such as Saudi Arabia, Iraq, Kuwait and the United Arab Emirates, creating a sudden supply shock in global markets. Limited alternative routesSome countries have pipelines that bypass the strait, but these alternatives cannot fully replace the volume transported […]

Abdulmumini Auwal SA April 13, 2026

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international

Oil prices fall after US-Iran ceasefire deal

Global financial markets reacted positively after the United States and Iran agreed to a conditional two-week ceasefire, which includes reopening the strategic Strait of Hormuz. The development led to a sharp drop in oil prices and strong gains in stock markets worldwide. Brent crude fell by around 13% to $94.80 per barrel, while US crude dropped more than 15% to $95.75. Despite this decline, prices remain above pre-conflict levels, when oil traded near $70 per barrel in late February. Energy markets had been under pressure due to disruptions in Middle Eastern supply, particularly after Iran threatened to target vessels passing through the Strait of Hormuz in response to US and Israeli strikes. Stock markets mirrored the improved sentiment. European indices opened higher, with London’s FTSE 100 rising by 2.53%, France’s CAC 40 gaining 4%, and Germany’s DAX climbing nearly 5%. […]

Abubakar April 8, 2026

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international

US-Iran ceasefire eases tensions amid talks

Tensions between the United States and Iran eased temporarily after a last-minute diplomatic move by President Donald Trump, who announced a potential breakthrough toward a peace agreement. In a message posted at 18:32 Washington time on his social media platform, Trump indicated that both countries were “very far along” in negotiations and agreed to a two-week ceasefire to allow talks to continue. The announcement came shortly before a deadline he had set for possible large-scale US strikes on Iranian energy and transport infrastructure. The ceasefire remains conditional on Iran halting hostilities and ensuring full access to the Strait of Hormuz for commercial shipping. Iranian authorities have signaled their willingness to comply, while maintaining that they retain control over the strategic waterway. This development offered Trump a way to step back from a difficult decision between military escalation and a potential […]

Abubakar April 8, 2026

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international

Strait of Hormuz reopens as US, Iran agree two‑week ceasefire

Iran has confirmed a conditional two‑week ceasefire with the United States that includes reopening the Strait of Hormuz to commercial traffic under tight military control. Foreign Minister Abbas Araghchi said ships will be allowed “safe passage” through the vital waterway for 14 days, provided all attacks against Iran are halted. The arrangement follows President Donald Trump’s announcement that he would suspend bombing Iran for two weeks if Tehran completely reopened the strait for global oil and gas flows. Both sides are presenting the 11th‑hour truce as a victory, with Washington citing pressure on Iran and Tehran claiming it forced the US to pause strikes and recognise its control over Hormuz. Markets have reacted positively, with global oil prices sliding by around 15 percent and stock indices rallying on hopes that exports from the Gulf can resume, even if partially. Analysts, […]

Abdulmumini Auwal SA April 8, 2026

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international

Oil markets grow sceptical of Trump signals

A month into the ongoing US and Israeli strikes on Iran, uncertainty continues to dominate global oil markets, with analysts struggling to interpret the signals coming from Donald Trump. Initially, statements and social media posts from the US president had a strong influence on oil prices, triggering sharp movements as investors reacted to any hint of escalation or de-escalation. However, recent developments suggest that traders are becoming more cautious about relying on such signals. Before the conflict began on 28 February, oil prices hovered around $72 per barrel. They later surged, reaching a peak of $118 on 19 March. As of the latest trading sessions, prices remain elevated at just under $112, reflecting ongoing geopolitical tensions. Market analysts say oil prices are now acting as a barometer for broader global risks. According to investment experts, prices tend to rise when […]

Abubakar March 28, 2026

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international

$150 oil could trigger global recession

The head of BlackRock has warned that a sharp rise in oil prices could push the global economy into recession, as geopolitical tensions continue to unsettle markets. Larry Fink said that if oil prices climb to around $150 per barrel and remain elevated, the impact on the global economy would be severe. According to him, prolonged high energy costs could lead to a “steep recession,” especially if instability linked to Iran persists. He outlined two possible scenarios: a de-escalation that could bring oil prices back down, or a prolonged period of elevated prices above $100 per barrel. In the latter case, the consequences for growth, inflation and global demand would be significant. Rising energy costs are already affecting financial markets, with investors reacting to uncertainty in the Middle East. Fink emphasized that higher oil prices act like an economic burden, […]

Abubakar March 25, 2026

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international

Iran pounds Israel with missiles as questions grow over Trump talks

Iran has fired a new wave of missiles at Israel, hitting parts of Tel Aviv and injuring several people, as confusion deepens over reported talks to end the three week old Middle East war. Streets in Israel’s commercial capital were left strewn with rubble after a building in an upscale neighbourhood suffered a direct hit.​ Tel Aviv mayor Ron Huldai said the strike tore open the facade of a three storey block in the city. Israeli media, citing police, reported that the damage was caused by a cluster munition missile believed to carry three to four warheads, each loaded with about 100 kilograms of explosives.​ The missile barrage came hours after Iranian outlets reported that US Israeli warplanes had struck two gas facilities and a pipeline inside Iran. Those strikes followed United States President Donald Trump’s earlier threats to attack […]

Abdulmumini Auwal SA March 24, 2026

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