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The Strait of Hormuz: A historical perspective on oil’s most critical chokepoint  Oil & Gas 360

Oil price alert: Will Strait of Hormuz blockade push oil to hit $215 per barrel amid Middle East tensions?  The Economic Times

Trump considers seizing Strait of Hormuz over oil  Українські Національні Новини (УНН)

Iran war fuel crisis forces Pakistan to close schools, take austerity measures MEE staff on Mon, 03/09/2026 - 19:21 The steep austerity measures come as the US-Israeli war on the Islamic Republic shows no signs of slowing Pakistani Prime Minister Shehbaz Sharif at the Congress Centre in Ashgabat, Turkmenistan, on 12 December 2025 (Alexander Kazakov/Sputnik via Reuters) Off Pakistani Prime Minister Shehbaz Sharif announced on Monday the closure of all schools through the end of the month, and remote work for all university students and half the workforce, as his country implements steep austerity measures amid soaring global fuel prices. The US-Israel war on Iran is now into its second week, with few signs that US President Donald Trump plans to scale back the operation. Iran has been retaliating against US assets in the Gulf - a region that produces a quarter of the world's entire oil supply - and choking off the Strait of Hormuz.  “These attacks have posed a great threat to the whole region,” Sharif said in televised remarks.  With Pakistan highly dependent on energy exports from the Gulf, "the government took difficult decisions for the country’s economy", he added.  The four largest exporters of fuel to Pakistan are the UAE, Qatar, Saudi Arabia, and Kuwait, all countries that have either stopped production due to the war on Iran, or cannot export due to the closure of the Strait of Hormuz. (adsbygoogle = window.adsbygoogle || []).push({}); Around 20 percent of all global petroleum consumption passes through the Strait of Hormuz. Together, Qatar and the UAE account for around 99 percent of Pakistan's Liquefied Natural Gas imports. Fifty percent of the staff in both the public and private sectors in Pakistan will work from home, Sharif said, excluding those in essential services such as agriculture and banking. Institutes of higher learning will also move their classes online.  Will the Iran war trigger a Saudi Arabia-Pakistan mutual defence pact? Read More » Government expenses will be scaled back by 20 percent, and large purchases such as furniture and air conditioners are prohibited. Government officials who earn more than 300,000 Pakistani rupees ($1,074) a month will have two paydays deducted, and the use of government vehicles will be reduced by 60 percent for the next two months. Fuel allowances for those vehicles will be cut in half.  The federal cabinet will not be paid a salary for the next two months, and members of parliament will see a 25 percent reduction in their wages.  All lawmakers are banned from foreign trips. Official iftars for Ramadan and other dinners and parties have also been banned.  Global shock It is not just Pakistan that is suffering from the shock to global energy markets, but it may be one of the first to implement austerity measures. Global commodity markets were jolted when they reopened on Monday, as the war on Iran continued to escalate over the weekend. Israel struck over 30 oil depots in Iran on Saturday, including in Tehran and Karaj. The strikes on depots went far beyond what the US expected when Israel notified it in advance, according to a report in Axios.  (adsbygoogle = window.adsbygoogle || []).push({}); Iran threatened to attack oil facilities in neighbouring countries in response.  It launched a fresh wave of attacks on the Gulf on Sunday, with attacks reported in the UAE, Qatar, Bahrain, and Kuwait.  Oil prices jumped to the highest levels since Russia's invasion of Ukraine in 2022, before falling back slightly. Brent crude prices soared as high as $119 per barrel, while the US's ⁠West Texas Intermediate rose to $119.48 a barrel. Pakistan had already been suffering from high inflation, soaring debt and low foreign exchange reserves. It was also embroiled in a war of its own. Before the war on Iran began, Pakistan had been carrying out air strikes along its border with Afghanistan because of what it described as militias being harboured by the Taliban, intending to carry out attacks in Pakistan.  (adsbygoogle = window.adsbygoogle || []).push({}); Nearly a year earlier, it was exchanging fire with India, in what was a brief but tumultuous period, given that the two countries are nuclear powers.  Sharif has condemned the US-Israeli attacks on Iran as well as the Islamic Republic's attacks on the Gulf, and offered to be a mediator to bring an end to a rapidly escalating conflict.  "We tried to take the middle road so that the burden on you is less," he told his compatriots on Monday.  "I will try [to ensure] that the burden does not fall on you. For this, efforts are ongoing day and night," he added.  War on Iran News Post Date Override 0 Update Date Mon, 05/04/2020 - 21:19 Update Date Override 0

Trump Calls Iran War "Very Complete", Threatens To Take Over Hormuz Strait  NDTV

The Iran Conflict Is Sending Oil Prices Soaring—What Happens Next?  CSIS | Center for Strategic and International Studies

The US benefits from the closing of the Hormuz Strait are 'tremendous,' expert says  Fox Business

Shadow fleet dominates Hormuz crossings as Iran ramps up bypass loadings  Lloyd's List

Why drilling more oil in the US can’t bring down gas prices  CNN

Greek Vessel Laden with Saudi Oil Sails through Hormuz  Marine News Magazine

‘War could be over soon’: Trump claims amid Iran conflict; reveals big Strait of Hormuz plan | World News  Hindustan Times

Russian president spoke as oil prices surged past $100 per barrel, reaching levels unseen since start of Ukraine war.

Trump tells CBS News he's considering taking over Strait of Hormuz  CBS News

Global shipping giant MSC announced Monday it was formally halting certain export shipments from the Gulf because of the Middle East war and that "all affected cargo will be discharged". "In light of the ongoing and exceptional security situation in the Middle East... it is necessary to declare an 'End of Voyage' for certain export shipments" from Gulf ports, "whether located ashore or already onboard", MSC said in an advisory notice to customers.

Iran live updates: Trump says ships in Strait of Hormuz need to 'show some guts'  abcnews.com

Trump says "the war is very complete," and he's considering taking over Strait of Hormuz  CBS News

Israel-Iran War Day 10 Trump: War With Iran 'Pretty Much Complete,' Might Take Over Strait of Hormuz  Haaretz

Trump says it's 'too soon' to talk about seizing Iran's oil — but doesn't rule it out  NBC News

Why the Strait of Hormuz is so difficult to defend  Axios