Albanese announces fuel stockpile plan amid Hormuz blockade concerns Australian Prime Minister Anthony Albanese has announced a 10 billion Australian dollar ($7. 22bn) package to strengthen the country’s fuel security by boosting national stockpiles and creating a government-owned reserve. The plan includes a reserve of about 1 billion litres aimed at ensuring Australia maintains at least 50 days of fuel onshore to protect against future supply disruptions.
Tehran [Iran], May 6 (ANI): Iran has launched a new regulatory mechanism to assert control over maritime traffic through the strategic Strait of Hormuz, implementing a system that requires vessels to secure prior authorisation before transiting the waterway.
New Delhi [India], May 6 (ANI): Average US gas prices topped USD 4. 50 a gallon on Tuesday, the highest level recorded in nearly four years, according to an ABC News report. This price milestone comes as the war in Iran continues and the Strait of Hormuz, a critical channel for international oil trade, remains restricted, impacting global energy flows and driving up costs for American motorists.
Draft UN resolution urges Iran halt actions in Hormuz The United States and several Gulf allies have drafted a resolution at the United Nations Security Council aimed at ensuring safe passage for shipping through the Strait of Hormuz, with a vote expected in the coming days. US Secretary of State Marco Rubio said the proposal calls on Iran to cease attacking vessels, laying sea mines and imposing fees for transit through the strategic waterway. Bahrain, Saudi Arabia, the United Arab Emirates, Kuwait and Qatar participated in preparing the draft, which also urges Iran to disclose the locations of sea mines and assist in their removal.
Washington DC [US], May 6 (ANI): US President Donald Trump on Tuesday (local time) said that his Chinese counterpart Xi Jinping has not challenged the United States' naval blockade on Iranian ports in the Strait of Hormuz, expressing confidence in his relationship with the Chinese leader ahead of an upcoming meeting.
US president says he is pausing US effort to guide stranded vessels out of the strait of Hormuz but blockade remains Donald Trump has announced that he is pausing ‘Project Freedom’, the US effort to guide stranded vessels out of the strait of Hormuz, so that he can finalise a deal with Iran, but added that his blockade of Iranian ports would remain in place. Trump announced the decision in a social media post, saying he was pausing the effort for a short period to give space for US efforts to finalise a settlement with Iran to end the war. Continue reading...
Washington DC [US], May 6 (ANI): US President Donald Trump on Tuesday (local time) announced that 'Project Freedom', an initiative aimed at helping the passage of commercial vessels trapped in the Strait of Hormuz amid escalating regional tensions in the Gulf, will be temporarily paused even as the naval blockade of Iran's ports remains in place.
Trump official insists overhauled visa system won't scare away foreign investment Submitted by Yasmine El-Sabawi on Tue, 05/05/2026 - 19:43 Deputy Secretary of State Christopher Landau expressed 'regret' over the deportation of South Korean businesspeople last year US Deputy Secretary of State Christopher Landau takes questions from the foreign press corps at the Gaylord Resort and Convention Center at National Harbor, Maryland, on 5 May 2026 (Yasmine El-Sabawi/MEE) Off The US government is working on overhauling its visa system to accommodate foreigners who come to do business in the US, a top Trump administration official said on Tuesday. Speaking at the SelectUSA Investment Summit - the largest annual convention to bring in foreign investment - Deputy Secretary of State Christopher Landau acknowledged that last year's immigration raid, detention, and deportation of more than 300 South Korean business consultants and workers from a Hyundai factory in the state of Georgia was one of "regret". "We are substantially overhauling our visa system to accommodate those concerns," that the US is unpredictable or potentially unsafe, Landau told a briefing for the foreign press corps.
Proposed UN Security Council resolution warns Iran could face sanctions over Hormuz A proposed United Nations Security Council resolution backed by the US and Gulf states warns Iran that it could face sanctions or further measures if it does not restore freedom of navigation and reveal the location of sea mines in and around the strategic waterway. The draft text, seen by The Associated Press, also calls on Iran to “immediately participate in and enable the UN efforts to establish a humanitarian corridor in the strait” to allow the passage of essential supplies, including aid and fertiliser. It has been drawn up under Chapter 7 of the UN Charter, which permits enforcement by military means.
Iranians described layoffs, unpaid wages and rising food and medical costs in messages to Iran International, while labor market data and local media reports pointed to a widening employment shock after the ceasefire.
Washington, DC [US], May 5 (ANI): United States Treasury Secretary Scott Bessent has hit out at China for 'funding the largest state sponsor of terrorism' by maintaining energy ties with Iran, asserting that Beijing must support Washington's initiatives to 'reopen the Strait of Hormuz', according to a report by Fox News.
Tehran remains about a year from building a nuclear bomb if it wishes to do so, with its enriched uranium stockpile still out of reach, the news agency says US-Israeli strikes on Iran have failed to push back the timeline for Tehran potentially acquiring a nuclear weapon, Reuters reported on Monday, citing intelligence sources.
Tehran remains about a year from building a nuclear bomb if it wishes to do so, with its enriched uranium stockpile still out of reach, the news agency says US-Israeli strikes on Iran have failed to push back the timeline for Tehran potentially acquiring a nuclear weapon, Reuters reported on Monday,
Monitoring firm says Iran can sustain production despite blockade TankerTrackers. com said the belief that the United States blockade of Iranian ports will soon force Iran to halt oil production is incorrect. In a post on X, the firm said: “The ongoing narrative that Iran’s oil storage will fill up ASAP and cause production to shutter is wrong.
Washington DC [US], May 5 (ANI): US Treasury Secretary Scott Bessent on Monday (local time) called the ongoing US-led naval operations a 'humanitarian effort' aimed at safeguarding critical global supply chains, including liquified petroleum gas (LPG) vital for daily cooking in India. Beseent also urged China to help reopen the Strait of Hormuz while accusing Beijing of 'funding' Iran through energy purchases.
Washington DC [US], May 5 (ANI): US Treasury Secretary Scott Bessent on Monday (local time) called the ongoing US-led naval operations a 'humanitarian effort' aimed at safeguarding critical global supply chains, including liquified petroleum gas (LPG) vital for daily cooking in India. Beseent also urged China to help reopen the Strait of Hormuz while accusing Beijing of 'funding' Iran through energy purchases.
Energy prices surge, stocks and gold fall amid escalation Oil prices surged by about 5% after reported attacks on ships near the Strait of Hormuz raised fears of supply disruptions. Brent crude futures rose 4. 98%, while US West Texas Intermediate crude climbed 3.
Chevron chief warns Strait of Hormuz closure will soon lead to oil shortages The chief executive of Chevron has warned that disruptions in the Strait of Hormuz could soon lead to global supply shortages. Mike Wirth said the closure of the waterway, which normally carries about 20 percent of the world’s crude, will begin to show in physical shortages across markets. He added that economies are likely to contract as demand adjusts to constrained supply, with Asia expected to feel the impact first.
OPEC+ set raises output as Strait of Hormuz blockade disrupt oil flows The OPEC+ has agreed to increase output in June in a move aimed at reassuring markets that supply will continue despite the Israeli-US war on Iran. The group plans to add 188,000 barrels per day, a relatively small rise that is unlikely to offset the impact of restrictions around the Strait of Hormuz, where access remains constrained. The United Arab Emirates, a key member, exited the group last week, citing interference in its production decisions, adding to uncertainty within the bloc.
