Brent hit $91.05 on July 21 as the Houthi naval blockade of Saudi Arabia threatened to close the Bab al-Mandeb, adding a second oil chokepoint to the Red Sea supply crisis.
Tag: Iran
Posted inGeopolitics
Houthis Declare Naval Blockade of Saudi Arabia, Opening a Second Oil Chokepoint
Yemen’s Houthis declared a naval blockade of Saudi Arabia on July 20, threatening the Bab al-Mandeb and potentially restricting a quarter of global oil supply alongside the Hormuz closure.
Posted inEconomy
Brent Tops $87 as Iran Escalation Refuels Global Inflation Fears
Brent crude settled at $87.20 on July 17 as renewed US-Iran strikes removed the prospect of near-term Hormuz relief, complicating the inflation outlook for the Fed and ECB at a moment when rate decisions hang on energy costs.
Posted inGeopolitics
Iran Escalates as US Bombs Enter Their Seventh Night
US strikes entered a seventh consecutive night across southern Iran on July 17, hitting military logistics and port infrastructure as Tehran vowed to broaden its retaliatory scope.
Posted inWorld
Iran Shuts the Strait of Hormuz and Imposes a Toll Regime on Shipping
Iran formally closed the Strait of Hormuz to foreign shipping on July 12, demanding toll payments and regime-approved routing as U.S. gas prices hit $3.87 per gallon and diplomatic options narrowed.
Posted inMarkets
Brent crude tops $78 on fresh US strikes as Trump weighs targeting Kharg Island
Brent crude settled above $78 a barrel on Wednesday, up more than 5%, after the US launched a second day of strikes on Iran, the US Treasury revoked Tehran’s oil sanctions waiver, and Iran threatened to close the Strait of Hormuz.
Posted inEconomy
IMF holds global growth at 3% as war shock and AI investment pull in opposite directions
The IMF’s July update kept its 2026 global growth forecast at 3% but raised headline inflation to 4.7%, citing opposing pressures from energy disruptions in the Middle East and AI-driven demand in technology-integrated economies.
Posted inGeopolitics
Trump declares the Iran ceasefire over as US launches a second day of strikes
President Trump declared the three-week memorandum of understanding with Iran ‘over’ on July 8 after US forces struck more than 80 Iranian targets and Tehran fired missiles at US military bases in Kuwait and Bahrain.
Posted inWorld
Iran opens six-day state funeral for Khamenei with 35 million expected in Tehran
Iran on 3 July opened a six-day state funeral for assassinated Supreme Leader Khamenei, expecting 35 million mourners and delegations from 30-plus countries.
Posted inGeopolitics
US envoy Witkoff heads to Qatar as Iran denies new ceasefire talks are confirmed
Steve Witkoff flew to Doha for Iran talks on June 29 after weekend US-Iran strikes, but Tehran’s deputy FM publicly denied any meeting had been arranged, deepening diplomatic uncertainty.