Oil back above $100 as US to blockade Iranian ports after peace talks fail
The failure of negotiations at the weekend has raised concerns that the global energy crisis will deepen.
The failure of negotiations at the weekend has raised concerns that the global energy crisis will deepen. Grouped from 4 articles across 3 sources.
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The failure of negotiations at the weekend has raised concerns that the global energy crisis will deepen.
President Donald Trump said he ordered the U.S. Navy to find and interdict any ship in international waters that has paid a toll to Iran to transit the strait.
Failed US-Iran peace talks send oil prices surging higher and the Australian share market lower. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Oil prices surged past $100 after U.S.-Iran talks collapsed and Washington moved toward a naval blockade, setting a cautious tone for Asia markets at the open.
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Crude had stabilised on optimism that a deal could be reached to reopen the Strait of Hormuz Grouped from 2 articles across 2 sources.
Vessels will still be able to transit the Strait of Hormuz to and from non-Iranian ports, says US Central Command. Grouped from 2 articles across 2 sources.
The Ministry of Energy says the East-West pipeline is back to pumping about 7 million barrels per day. Grouped from 2 articles across 2 sources.
Donald Trump's planned United States naval blockade of Iranian vessels in the Strait of Hormuz reveals the president once again playing loose with the fortunes of financial markets and the global economy as he… Grouped from 51 articles across 14 sources.
Vice President JD Vance and Iranian officials both said significant differences remain in the quest for a deal that could bring a more permanent end to the war, though the fragile two-week ceasefire remains in place.
European stocks are expected to start the new trading week on a somber note as global traders assess developments in the Middle East.