150 senior leaders from the oil and trade industry met in Baku last week for the second annual Caspian and Central Asia Oil Trading and Logistics Forum, as the world grapples with oil and energy shortages linked to the Middle East conflict.
Oil prices extended gains on Monday, rising nearly 2% as peace talks between the U.S. and Iran stalled while shipments through the Strait of Hormuz remained limited, keeping global oil supplies tight.
Diplomatic efforts to end the Iran war are intensifying, with the White House confirming that U.S. President Donald Trump will send special envoy Steve Witkoff and adviser Jared Kushner to Islamabad for talks with Iran under Pakistani mediation.
U.S. President Donald Trump said he was prepared to wait for "the best deal" to end his conflict with Iran and said he was in no rush to reach a peace agreement and wanted it to be "everlasting," while continuing to assert that the U.S. had a clear upper hand in the naval stand-off in the Strait.
The U.S. military is redirecting at least three Iranian-flagged tankers after intercepting them in Asian waters near India, Malaysia and Sri Lanka, shipping and security sources said on Wednesday. Meanwhile, Tehran said U.S. breaches, blockades and threats are undermining “genuine negotiations.”
The current standoff between the U.S. and Iran is likely to continue in the near term, with both sides seeking to outlast the other rather than escalate into a wider conflict, according to political analyst Orkhan Nabiyev.
The U.S. military has intercepted at least three Iranian-flagged tankers in Asian waters and is redirecting them away from their positions near India, Malaysia and Sri Lanka, shipping and security sources said on Wednesday, exclusively to Reuters.
Iran’s Revolutionary Guards targeted three vessels, seizing two of them for alleged maritime violations and transferring them to Iranian shores, as U.S. President Donald Trump said Washington is extending its ceasefire with Iran until Tehran submits a proposal.
U.S. efforts to push Iran into accepting pre-war conditions are intensifying, as tensions continue despite an extended ceasefire between Iran and the U.S.
The Iranian missions in London and Vienna strongly condemned the remarks by the European Union Foreign Policy Chief Kaja Kallas on the imposition of further sanctions on Tehran as a “highway of hypocrisy,” amid the Israeli-U.S. war on the Islamic Republic.
U.S. President Donald Trump said he would indefinitely extend the ceasefire with Iran to allow for further peace talks, although it was not clear on Wednesday (22 April) if Iran or Israel, the U.S. ally in the two-month war, would agree.
Pakistan is confident it can bring Iran to talks with the United States, a senior official said, citing “positive signals” from Tehran, as JD Vance is reportedly set to visit Islamabad on Tuesday for peace talks, according to Axios.
Iran accuses the United States of breaching a ceasefire after a commercial ship was seized in the Gulf of Oman, vowing retaliation, as Israel warns south Lebanon residents to avoid restricted areas.
Concerns grew on Monday (20 April) that the ceasefire between the U.S. and Iran, due to expire on Tuesday, might not hold after Washington’s Navy seized an Iranian cargo ship that tried to run its blockade of Iranian ports, with Tehran vowing to retaliate.
Two Indian-flagged ships were shot at in the Strait of Hormuz on Saturday, India's Foreign Ministry said, as Iran closed the Strait of Hormuz again, less than 24 hours after reopening the 167km long sea passage, which is essential for global trade.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 17th of April, covering the latest developments you need to know.
France and Britain will chair a meeting on Friday (17 April) of around 40 countries aimed at signalling to the United States that some of its closest allies are ready to play a role in restoring freedom of navigation in the Strait of Hormuz once conditions allow.
South Korea will import 18 million barrels of Kazakh oil via routes bypassing the Strait of Hormuz, as it seeks to shield its energy supply from mounting instability in the Middle East.
A second U.S.-sanctioned supertanker has entered the Gulf via the Strait of Hormuz, shipping data showed, despite a U.S. blockade on vessels visiting Iranian ports.
The U.S.-sanctioned tanker Rich Starry made its way back to the Strait of Hormuz on Wednesday after exiting the Gulf the day before, shipping data showed, failing to break through a U.S. blockade on vessels calling at Iranian ports.
Since Monday, Monday (13 April), America has blocked traffic entering and leaving Iran's ports, in an escalation of the conflict in the Middle East. The consequences of that will continue to impact the global oil supply.
Iran's ports were blocked by the U.S. military on Monday (13 April), President Donald Trump confirmed. Tehran has threatened to retaliate against its Gulf neighbours' ports and a U.S. official said there was continued engagement with Iran, and forward motion on trying to get to an agreement.
While a fragile ceasefire in the Iran war may deliver badly needed relief to economies battered by the world’s worst-ever energy crisis, hopes it will quickly restore normal oil and gas flows from the Middle East are almost certainly misplaced.
A fragile two-week ceasefire between the U.S. and Iran showed further strain on Friday, a day before they are to negotiate in Pakistan, as Washington accused Tehran of breaching promises on the Strait of Hormuz and Israel struck Lebanon with attacks that Iran has claimed violate the ceasefire.
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