OPEC+ keeps a cautious hand on output as Hormuz risks cloud oil market
OPEC+ approved a 188,000-barrel-per-day September adjustment, but constrained Hormuz shipping keeps crude and refined-fuel markets exposed to disruption.
Strait of Hormuz
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U.S. Extends Jones Act Waiver for Selected Cargoes
A 90-day extension lets qualifying foreign-flagged ships move selected fuel, fertilizer and agricultural cargoes between U.S. ports from Aug. 17.
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US-Iran Talks Stall as Hormuz Dispute Widens Mediation Effort
U.S.-Iran talks have stalled over how to reopen the Strait of Hormuz, while expanded outreach to Europe adds pressure to Oman-led diplomacy.
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Two UAE Tankers Attacked in Strait of Hormuz, Damage Reported
Two ADNOC tankers were attacked by drones while crossing the Strait of Hormuz on August 13. No injuries were reported, but minor damage was reported.
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IEA Tracks Global Response as Strait of Hormuz Disruption Drives Largest-Ever Emergency Oil Release
The International Energy Agency is tracking measures by governments in nearly 80 countries after disruption around the Strait of Hormuz caused what it calls the largest supply disruption in oil-market history.
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Oil Prices Rise as Strait of Hormuz Uncertainty Keeps Global Supply in Focus
U.S. stocks remained near record highs on Aug. 10, 2026, even as uncertainty over the reopening of the Strait of Hormuz pushed oil prices higher and renewed concerns about global crude flows.
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Turkey, Pakistan and Saudi Arabia Sign Mutual-Defense Deal as Yemen Fighting Escalates
Turkey, Pakistan and Saudi Arabia signed a mutual-defense agreement on Aug. 7 as Iran-backed Houthi forces reportedly attacked in Yemen’s Marib province and regional pressure mounted on Gulf states and shipping.
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UN Reports Fatal Shipping Attacks Near Strait of Hormuz, Calls for De-escalation
At least two seafarers were killed and several injured in reported attacks on shipping near the Strait of Hormuz, the United Nations said in a 14 July briefing.
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IEA Forecasts Global Gas-Demand Decline After Hormuz LNG Shock
The International Energy Agency says the Middle East conflict disrupted a route that previously carried almost one-fifth of global LNG supply, pushing up prices and delaying an expected easing of gas markets.
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Iran and Oman Report Progress Toward Strait of Hormuz Reopening Deal Amid Regional Conflict
Iran and Oman said talks were advancing toward an agreement to reopen the Strait of Hormuz, a provisional development with major implications for global energy shipments.
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Iran and Oman Advance Proposed Deal to Reopen Strait of Hormuz
Iran and Oman made progress toward a proposed arrangement for passage through the Strait of Hormuz, but the route, fees and final agreement status remained unresolved.
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July 27: Iran-U.S. Talks Face New Test as Mediators Seek Strait of Hormuz Deal
Regional officials say mediators are working to restart U.S.-Iran negotiations after weeks of strikes and counterstrikes, while Iran and Oman discuss vessel transit through the Strait of Hormuz.
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OPEC+ Approves 188,000-Barrel-a-Day Production Increase as Oil Prices Weaken
OPEC+ will raise its combined production target by about 188,000 barrels per day from September, completing the rollback of a layer of voluntary cuts as Brent crude trades below $72 a barrel.
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Saudi Arabia, Turkey and Pakistan Sign Mutual-Defense Pact Amid Iran War
Saudi Arabia, Turkey and Pakistan signed an agreement on August 7 stating that an attack on one country would be treated as an attack on all three, as Gulf security tensions rise.
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UN chief António Guterres urges Iran and U.S. to resume talks after Gulf confrontation
After renewed strikes and counterstrikes involving Iran and the United States, UN Secretary-General António Guterres called for an immediate halt to attacks, maximum restraint and restored freedom of navigation in the Strait of Hormuz.
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Iran and Oman Draft Strait of Hormuz Reopening Plan as Regional Conflict Strains Shipping
Iran said on Aug. 4 that it and Oman were in the final stage of drafting an agreement concerning the Strait of Hormuz, while violence continued across the region.
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Federal Reserve report links higher U.S. inflation to Middle East conflict and energy shocks
The Federal Reserve’s July 2026 report says U.S. inflation reached 4.1% and energy prices rose 24% through May as conflict and shipping disruptions affected energy markets.
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IEA, IMF, World Bank and WTO Warn Middle East Conflict Is Straining Energy, Trade and Growth
The leaders of four major economic institutions say the Middle East conflict is producing uneven effects on energy supplies, food security, commodities and economic activity.
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Iran and Oman say Strait of Hormuz deal is near as Donald Trump presses compromise on Aug. 7, 2026
Iran and Oman have moved closer to an arrangement to reopen the Strait of Hormuz, but major disagreements remain over Iranian control, fees and the terms of any temporary framework.
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Iran and Oman Near Strait of Hormuz Shipping Arrangement as Vessel Traffic Remains Reduced
Iran and Oman were reported on Aug. 7 to be finalizing a framework for navigation through the Strait of Hormuz, but key terms and the extent of any reopening remained unresolved.
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U.S.-Iran war pushes oil higher as global markets absorb August 6 uncertainty
Oil prices rose and U.S. stocks edged lower on August 6 as uncertainty over the U.S.-Iran war raised concerns about energy flows, shipping and the global economy.
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UN Security Council Discusses Syria on July 21 as António Guterres Heads to Damascus
The UN Security Council discussed Syria on July 21, 2026, as Secretary-General António Guterres began his first visit to Damascus in the role and investigators warned that security in southern Syria remained fragile.