An agreement to reopen the waterway would be followed by a complicated process of navigating a backlog of vessels stranded for nearly three months.
Category: Persian Gulf
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The War-Driven Supply Shock Already Roiling Manufacturing in Asia
A shortage of naphtha, stemming from the blockade of the Strait of Hormuz, is disrupting manufacturing and retail goods in Japan and South Korea.
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The Risks of Iran’s Threat to Control the Strait of Hormuz
Iran is trying to assert its control over the strait by charging for passage. Experts say it is unlikely to happen, but the threat has unsettled the shipping industry.
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Is the Bond Market Signaling Danger? Or Opportunity?
Interest rates for long-term Treasury bonds have surged to levels last seen in 2007, before the great financial crisis.
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A Fact Check of Trump’s Claims on Inflation and Gas Prices in Iran War
He has minimized soaring gas prices, rising inflation and the American economy’s need for the Strait of Hormuz.
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What You Need to Know About the Federal Gas Tax
President Trump said he would like to suspend the 18.4-cent-a-gallon tax, but it’s a move that may save drivers only a few dollars a month.
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Nations Brace for Long-Term Economic Woes as Trump Calls Iran Truce Plan ‘Garbage’
President Trump said the fragile cease-fire was on “life support,” and India’s leader urged residents to cut back on purchases and travel.
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Maersk Ship Passed Strait of Hormuz Under U.S. Military Protection
A U.S.-flagged ship operated by a Maersk subsidiary exited under American military guidance, part of President Trump’s effort to encourage ships to pass the Strait of Hormuz.
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Confusion in Strait of Hormuz Leaves Shipping Firms Guessing
The United States vowed to help tankers navigate the perilous conditions that have kept them stranded in the Persian Gulf, but it remained unclear if companies would try to get out.
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Loss of Emirates Further Weakens OPEC’s Influence
The exit of the United Arab Emirates is the most significant in a series of departures from the oil cartel in recent years.
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The World Needs Natural Gas Now, but the U.S. Is Exporting All It Can
Even the largest global supplier of liquefied natural gas can’t make up for the shortfall since the war in Iran cut off an important source.