President Donald Trump said the US will blockade the Strait of Hormuz following the failure of peace talks with Iran in Islamabad this weekend, a move that will likely exacerbate oil and fuel shortages globally.
President Donald Trump said the US will blockade the Strait of Hormuz following the failure of peace talks with Iran in Islamabad this weekend, a move that will likely exacerbate oil and fuel shortages globally.
President Donald Trump said the US will blockade the Strait of Hormuz following the failure of peace talks with Iran in Islamabad this weekend, a move that will likely exacerbate oil and fuel shortages globally.
President Donald Trump said the US will blockade the Strait of Hormuz following the failure of peace talks with Iran in Islamabad this weekend, a move that will likely exacerbate oil and fuel shortages globally.
Several Asian countries are pushing the US Treasury Department to renew a sanctions waiver allowing them to purchase Russian crude, according to people familiar with the matter.
Several Asian countries are pushing the US Treasury Department to renew a sanctions waiver allowing them to purchase Russian crude, according to people familiar with the matter.
President Donald Trump warned Iran against charging tolls on vessels moving through the Strait of Hormuz and accused Tehran of doing a “poor job” of letting energy supplies flow, despite a ceasefire deal that included an agreement to open the crucial waterway.
President Donald Trump warned Iran against charging tolls on vessels moving through the Strait of Hormuz and accused Tehran of doing a “poor job” of letting energy supplies flow, despite a ceasefire deal that included an agreement to open the crucial waterway.
A ship waits to pass through the Strait of Hormuz in Oman on April 8. Photographer: Shady Alassar/Anadolu/Getty Images
President Donald Trump said he was “optimistic” about a deal with Iran but later threatened Tehran over charging fees in the Strait of Hormuz, as Israeli strikes in Lebanon and the continued closure of the vital waterway jeopardized diplomatic talks.
President Donald Trump said he was “optimistic” about a deal with Iran but later threatened Tehran over charging fees in the Strait of Hormuz, as Israeli strikes in Lebanon and the continued closure of the vital waterway jeopardized diplomatic talks.
Ships of all types were seen on Wednesday morning clustered on either side of Hormuz, around Dubai in the Persian Gulf and Khor Fakkan in the Gulf of Oman.
US President Donald Trump has two weeks to figure out whether he’s untangled the knot he created in Iran, or just pulled it tighter.
WASHINGTON, DC - APRIL 1: U.S. President Donald Trump arrives to address the nation from the Cross Hall of the White House on April 1, 2026 in Washington, DC. Trump used the prime-time address to update the nation on the war in Iran. (Photo by Alex Brandon-Pool/Getty Images)
A deal for control of Venezuela’s Citgo Petroleum Corp. by a group affiliated with hedge fund Elliott Investment Management has gotten bogged down amid Trump administration concerns over the price and political risk.
A deal for control of Venezuela’s Citgo Petroleum Corp. by a group affiliated with hedge fund Elliott Investment Management has gotten bogged down amid Trump administration concerns over the price and political risk.
Citgo headquarters in Houston. Photographer: Brandon Bell/Getty Images
As President Donald Trump muses about seizing control of Iran’s oil sector, one potential upside is looming in his thinking: expanding US global energy dominance to gain trade leverage against China, people familiar with the matter say.
As President Donald Trump muses about seizing control of Iran’s oil sector, one potential upside is looming in his thinking: expanding US global energy dominance to gain trade leverage against China, people familiar with the matter say.
The Trump administration said it will maintain 50% tariffs on many imported steel, aluminum and copper products, even as it moves to simplify duties for goods made with negligible amounts of the metals.
The Trump administration said it will maintain 50% tariffs on many imported steel, aluminum and copper products, even as it moves to simplify duties for goods made with negligible amounts of the metals.
A worker inspects coils of steel in the storage yard at a steel plant in Ostrava, Czech Republic.
The Trump administration said it will maintain 50% tariffs on many imported steel, aluminum and copper products, even as it moves to simplify duties for goods made with negligible amounts of the metals.
The Trump administration said it will maintain 50% tariffs on many imported steel, aluminum and copper products, even as it moves to simplify duties for goods made with negligible amounts of the metals.
A worker inspects coils of steel in the storage yard at a steel plant in Ostrava, Czech Republic.
Attorney General Pam Bondi is leaving her post as head of the US Justice Department, ending a tumultuous tenure as the nation’s top law enforcement official after stumbles in her efforts to carry out President Donald Trump’s agenda.
Attorney General Pam Bondi is leaving her post as head of the US Justice Department, ending a tumultuous tenure as the nation’s top law enforcement official after stumbles in her efforts to carry out President Donald Trump’s agenda.
The Trump administration is preparing to outline a tiered system for its broad tariffs on steel and aluminum products in an attempt to simplify a process that has dogged American companies for months.
The Trump administration is preparing to outline a tiered system for its broad tariffs on steel and aluminum products in an attempt to simplify a process that has dogged American companies for months.
Steel coils at the Port of Little Rock in Little Rock, Arkansas, US, on Thursday, April 3, 2025. Wall Street economists said the US risks a recession this year and inflation could return to pandemic levels following the Trump administration's announcement of major tariffs on global trading partners. Photographer: Al Drago/Bloomberg
President Donald Trump said he foresaw ending the war on Iran within two to three weeks, suggesting the US had largely accomplished its military goals and would leave it to other nations to resolve issues with the Strait of Hormuz.
President Donald Trump said he foresaw ending the war on Iran within two to three weeks, suggesting the US had largely accomplished its military goals and would leave it to other nations to resolve issues with the Strait of Hormuz.
Shippers remain doubtful of a wholesale return to the Strait of Hormuz while it remains beset by conflict, throwing cold water on a Trump administration plan for US-backed insurance and naval escorts to clear passage through the vital waterway.
Shippers remain doubtful of a wholesale return to the Strait of Hormuz while it remains beset by conflict, throwing cold water on a Trump administration plan for US-backed insurance and naval escorts to clear passage through the vital waterway.
The White House threatened further escalation of its military campaign against Iran, which later attacked a Kuwaiti oil tanker near Dubai, as the war entered a fifth week with little relief for jolted global markets.
The White House threatened further escalation of its military campaign against Iran, which later attacked a Kuwaiti oil tanker near Dubai, as the war entered a fifth week with little relief for jolted global markets.
Iran's main oil export terminal at Kharg Island in the Persian Gulf. Source: AFP/Getty Images
The White House threatened further escalation of its military campaign against Iran, which later attacked a Kuwaiti oil tanker near Dubai, as the war entered a fifth week with little relief for jolted global markets.
The White House threatened further escalation of its military campaign against Iran, which later attacked a Kuwaiti oil tanker near Dubai, as the war entered a fifth week with little relief for jolted global markets.
Iran's main oil export terminal at Kharg Island in the Persian Gulf. Source: AFP/Getty Images
The Trump administration is talking with some offshore wind developers about buying back the leases they purchased from the federal government years ago to develop energy projects along the US coast.
The Trump administration is talking with some offshore wind developers about buying back the leases they purchased from the federal government years ago to develop energy projects along the US coast.
Treasury Secretary Scott Bessent said a US insurance program meant to boost shipping through the Strait of Hormuz will begin soon, a move that may help revive flows of much of the world’s oil and gas supplies.
Treasury Secretary Scott Bessent said a US insurance program meant to boost shipping through the Strait of Hormuz will begin soon, a move that may help revive flows of much of the world’s oil and gas supplies.
Scott Bessent, US treasury secretary, during an Economic Club of Minnesota event in Golden Valley, Minnesota, US, on Thursday, Jan. 8, 2026. Bessent called for the Federal Reserve to continue cutting interest rates, extending his pressure campaign on US monetary policymakers.
The US has drafted a 15-point plan intended to help bring the war with Iran to a close, according to people familiar with the matter, highlighting the intensifying urgency within the Trump administration to resolve the conflict as the economic toll mounts.
The US has drafted a 15-point plan intended to help bring the war with Iran to a close, according to people familiar with the matter, highlighting the intensifying urgency within the Trump administration to resolve the conflict as the economic toll mounts.
The Trump administration is preparing to expand the opportunity for sales of higher-ethanol E15 gasoline this summer by waiving the fuel from US volatility requirements, according to people familiar with the matter.
The Trump administration is preparing to expand the opportunity for sales of higher-ethanol E15 gasoline this summer by waiving the fuel from US volatility requirements, according to people familiar with the matter.
A driver refuels at a gas station in San Francisco.
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