Iran

Iran says the Strait of Hormuz will stay shut until the United States meets seven conditions, leaving oil above $100 and energy markets anxious

Oil rose more than 2% on Thursday as US-Iran talks showed little sign of progress, with Brent near $105.51 and traders eyeing a US diesel export ban.

Iran says it will soon declare a new restricted zone in the Gulf and new Strait of Hormuz shipping maps, as fresh US-Iran attacks on ships lifted oil prices.

Oil headed for a weekly gain above 6 percent as US-Iran fighting resumed, while US diesel prices hit a record high, fuelling fresh global inflation fears.

Oil prices fell further on Tuesday as investors shrugged off the latest US sanctions on Iran, with Brent down 1.0 percent to $91.27 a barrel.

Oil prices hit a three-week high on Wednesday as uncertainty over shipping through the Strait of Hormuz and continuing supply disruptions supported the market.

Shipping through the Strait of Hormuz slowed over the weekend after tanker attacks, with only five commodity vessels crossing on Saturday and none on Sunday.

Oil prices rose in volatile trade on Wednesday after attacks on two ships and stalled US-Iran talks renewed worries about Middle East supply disruptions.

KEY POINTS Iran has warned it could shut the Strait of Hormuz indefinitely if the United States carries out threats to attack its power infrastructure. The warning followed a 48-hour …

KEY POINTS The government of Qatar has confirmed that Iranian missile strikes caused significant damage to the Ras Laffan Industrial City, the country’s primary gas production hub. Authorities said the …