(260408) -- TEHRAN, April 8, 2026 (Xinhua) -- This photo taken on April 8, 2026 shows an urban view in Tehran, Iran. Iranian Foreign Minister Seyed Abbas Araghchi said early Wednesday that safe passage through the Strait of Hormuz will be possible for a period of two weeks through coordination with the Iranian armed forces, with due consideration of technical limitations.
'Hard to unseat the king': Iran's control of Hormuz may not be end of petrodollar Keeping control of the Strait of Hormuz will be easier for Iran than unseating the dollar's dominance of the global oil trade, despite Tehran’s efforts to dent the greenback’s hegemony, experts say. Iran’s control of the crucial strait has become the focal point of the war, with US President Donald Trump threatening Iran with total annihilation unless it cedes control of the “Fuckin' Strait”. Because roughly 20 percent of the world’s energy passes through the Strait of Hormuz, some experts have said that Iran’s control jeopardises the petrodollar system - in which oil is priced and sold in the dollar by Arab energy producers.
'Hard to unseat the king': Iran's control of Hormuz may not be end of petrodollar Submitted by Sean Mathews on Tue, 04/07/2026 - 21:15 US sanctions on Iran and Russia have reduced the dollar's chokehold on oil trade, but Gulf states are unlikely to ditch it Newly redesigned $100 notes are printed at the Bureau of Engraving and Printing in Washington, DC, on 20 May 2013 (Mark Wilson/Getty Images/AFP) Off Keeping control of the Strait of Hormuz will be easier for Iran than unseating the dollar's dominance of the global oil trade, despite Tehran’s efforts to dent the greenback’s hegemony, experts say. Iran’s control of the crucial strait has become the focal point of the war, with US President Donald Trump threatening Iran with total annihilation unless it cedes control of the “Fuckin' Strait”. Because roughly 20 percent of the world’s energy passes through the Strait of Hormuz, some experts have said that Iran’s control jeopardises the petrodollar system - in which oil is priced and sold in the dollar by Arab energy producers.
LONDON, U. K. : A sharp squeeze on immediate oil supplies is pushing physical crude prices close to US$150 a barrel, as refiners compete for available cargoes amid disruptions linked to the Iran conflict.
ABU DHABI, 7th April, 2026 (WAM) -- The United Arab Emirates deeply regrets that the UN Security Council (UNSC) failed today to endorse a clear framework for international cooperation in ending Iran's illegal attacks and threats to the global economy by adopting a draft resolution demanding the immediate cessation of all attacks on vessels and attempts to impede freedom of navigation in the Strait of Hormuz.
Both the U. S. and Iran are now talking about imposing fees on ships using the vital passageway.
NEW YORK, 7th April, 2026 (WAM) -- The United Nations Security Council (UNSC) has failed to adopt a draft resolution demanding that the Islamic Republic of Iran immediately cease all attacks against commercial vessels and refrain from any attempts to obstruct freedom of navigation in the Strait of H
The Dangote refinery has the capacity to supply Nigeria and most of the continent amid the Middle East war disruption, its owner has said Nigeria's Dangote refinery has said it is ramping up fuel and fertilizer exports to African markets as supply disruptions linked to the US-Israeli war on Iran tighten availability and drive up import costs across the continent.
Oil prices are rising and stocks are selling off as investors fret that the president will carry out his threats to “decimate” Iran.
Oil hovers near $110 as Trump deadline on Hormuz looms Oil prices hovered around $110 a barrel on Tuesday as a deadline set by US President Donald Trump for Iran to reopen the Strait of Hormuz approached. The international oil benchmark Brent crude hovered around $108. 82 a barrel.
The first deliveries of Russian crude are expected in mid-April, the island nations transport minister has said Sri Lanka will purchase crude oil from Russia after reaching an agreement with Moscow amid the energy crisis spurred by the Middle East conflict, the island nation's transport minister, Bimal Rathnayake, has said.
Malaysia-owned commercial vessel passes Hormuz One of seven Malaysian-owned commercial vessels previously stranded in the Strait of Hormuz has “been granted safe passage” and is now on its way to its final destination, Malaysia's Ministry of Foreign Affairs said. “The positive outcome follows high-level diplomatic engagements,” including a call between Malaysian Prime Minister Anwar Ibrahim and Iranian President Masoud Pezeshkian last month, the ministry said in a statement. We had said that the Islamic Republic of Iran does not forget his friends.
Dehradun (Uttarakhand) [India], April 7 (ANI): Pankaj Gupta, President of the Industries Association Uttarakhand (IAU), said on Tuesday that industries in Uttarakhand are facing rising input costs and disruptions in exports due to the ongoing conflict in the Middle East. Speaking exclusively to ANI, Gupta said that the situation is affecting both supply chains and production costs.
Global stocks slip, oil climbs above $110 amid Hormuz uncertainty Global stocks struggled while oil prices climbed as investors reacted to rising tensions ahead of President Donald Trump’s deadline for Iran to reopen the Strait of Hormuz. Brent crude rose 0. 4% to $110.
Chinese President Xi Jinping calls for new energy system amid global shock Chinese President Xi Jinping called for faster development of a new energy system to ensure energy security, state broadcaster CCTV reported, as global fuel prices surge following the US-Israeli attack on Iran. Xi did not directly mention the conflict but said China’s leadership has a “profound grasp of global energy development trends” and is advancing a new energy security strategy, emphasising the need to strengthen domestic capacity. He also stressed expanding hydropower and the “safe and orderly expansion” of nuclear energy.
UN Security Council to vote on Hormuz resolution amid tensions The UN Security Council is set to vote on a revised resolution addressing threats to navigation in the Strait of Hormuz, after earlier proposals faced opposition. The vote is scheduled for 15:00 GMT, hours before US President Donald Trump’s deadline for Iran to agree to terms or face potential strikes on infrastructure, according to AFP. The draft, backed by Bahrain and other Gulf states, calls on Iran to halt attacks on commercial vessels and avoid disrupting transit through the key waterway.
Washington DC [US], April 7 (ANI): President Donald Trump said that the United States could secure the Iranian oil as the war in West Asia continues to expand, saying, 'if I had my choice, I'm a businessman first'. Trump's remark came when he was asked about securing Iran's oil during a press briefing at the White House. Trump referred to US actions in Venezuela to justify the idea.
New Delhi [India], April 6 (ANI): Gold is expected to remain volatile but largely rangebound over the next one month as easing geopolitical tensions, elevated oil prices and uncertainty over interest rates continue to weigh on sentiment, analysts said. 'Gold remained below USD 4,700 per ounce on Monday as markets reacted to reports of a possible 45-day ceasefire between the U. S.
Iran will allow ships from ‘friendly nations’ to pass through Hormuz, Al Jazeera reports Iran will permit the ships of some friendly nations to pass through the Strait of Hormuz, in exchange for security fees to serve as compensation for the war, according to an Iranian official speaking to Al Jazeera. The official said that Iran has already given several Indian, Pakistani, Turkish and French ships passage permits. The Iranian embassy in Malaysia posted on social media earlier on Monday that the first ship from the country since the war began has been allowed to pass through the strait.
The agency has said the war will raise inflation in the South Asian nation, while cutting its forecast to 6% in 2026-27 Rating agency Moody's has slashed India's GDP projection for the 2026-27 fiscal year to 6% from 6. 8%, citing the ongoing war in Iran.
