Oil Prices Jump on Houthi Attacks, U.S.-Iran Escalation Fears
Oil prices have jumped to a five-month high amid escalating tensions between the US and Iran, and Houthi attacks on Saudi Arabia. Brent crude prices reached $115 per barrel, driven by supply fears and disruptions in the Middle East. The Iranian Revolutionary Guards confirmed mining the Strait of Hormuz, resulting in three oil tankers being hit. Qatar and Pakistan are reportedly mediating a proposal to ease tensions between the US and Iran.
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- ✓ Brent crude oil prices reached $110 per barrel for the first time since May, rising 3.7% amid supply fears.
- ✓ The Iranian Revolutionary Guards confirmed mining the Strait of Hormuz, reporting that three oil tankers hit mines.
- ✓ Two ships caught fire and became immobilized, while a third vessel carrying two million barrels of crude oil exploded.
- ✓ Qatar and Pakistan are reportedly mediating a proposal to ease tensions between the US and Iran.
What changed
The price of Brent crude oil has increased to $115 per barrel, its highest level since May, as Houthi attacks on Saudi Arabia and US-Iran tensions escalate.
Live updates
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Oil Prices Surge on Houthi Attacks and US-Iran Tensions
Oil prices have jumped to a five-month high amid escalating tensions between the US and Iran, and Houthi attacks on Saudi Arabia. Brent crude prices reached $115 per barrel, driven by supply fears and disruptions in the Middle East. The Iranian Revolutionary Guards confirmed mining the Strait of Hormuz, resulting in three oil tankers being hit. Qatar and Pakistan are reportedly mediating a proposal to ease tensions between the US and Iran.
Why it matters
The surge in oil prices is attributed to the increasing tensions in the Middle East, including Houthi attacks on Saudi Arabia and the Strait of Hormuz tensions. These events coincide with energy-related attacks between Russia and Ukraine, intensifying global market volatility. The situation has raised concerns about potential supply disruptions and the impact on global oil prices.
What is confirmed
- Brent crude oil prices reached $110 per barrel for the first time since May, rising 3.7% amid supply fears.
- The Iranian Revolutionary Guards confirmed mining the Strait of Hormuz, reporting that three oil tankers hit mines.
- Two ships caught fire and became immobilized, while a third vessel carrying two million barrels of crude oil exploded.
- Qatar and Pakistan are reportedly mediating a proposal to ease tensions between the US and Iran.
- Brent crude hits its highest level since May as Houthi attacks in Saudi Arabia, Strait of Hormuz tensions and oil supply disruptions fuel market fears.
Still unconfirmed
- UAE residents face flight disruptions and rising oil prices as US-Israel-Iran tensions escalate near the Strait of Hormuz.
What to watch next
- US-Iran diplomatic developments
- Further Houthi attacks on Saudi Arabia
- Global economic impact of rising oil prices
confidence 75%Sources used for this update (9)
- finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
- www.mitrade.com — Weekly Market Wrap: AI spending hit a reality check — and Starlink rewrote the telecom trade
- slownews.kr — Slow Letter: October 12, 2026.
- www.hindustantimes.com — Brent crude oil hits highest since May as Houthi attacks on Saudi Arabia fuel global oil supply fears | Hindustan Times
- gulfnews.com — US-Israel-Iran war: Blasts near Hormuz, oil prices rise, Trump declares no talks with Iran, 'something will happen soon' - Gulf Ne....
- www.mortgageresearch.com — Mortgage Rates Today, October 23, 2026: Rates Continue Modest Falls
- www.theguardian.com — Oil price rises above $115 a barrel amid fears US will renew ...
- www.aol.com — Oil hits five-month high amid fears of fresh strikes on Iran
- www.ibtimes.com.au — Murban Crude Surges Nearly 4% to Match Brent as Gulf Attacks and Iran Ship Claims Stoke Supply Fears
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Iranian Guards Mine Strait of Hormuz as Brent Crude Hits $110
Brent crude prices reached $110 per barrel for the first time since May, rising 3.7% amid supply fears. The Iranian Revolutionary Guards confirmed mining the Strait of Hormuz, reporting that three oil tankers hit mines. Two ships caught fire and became immobilized, while a third vessel carrying two million barrels of crude oil exploded. These events coincide with Houthi strikes on Saudi Arabia and energy-related attacks between Russia and Ukraine, intensifying global market volatility. Qatar and Pakistan are reportedly mediating a proposal to ease tensions between the US and Iran.
Why it matters
The Strait of Hormuz is a critical chokepoint for global oil transit. Current price spikes reflect a convergence of geopolitical conflicts in the Middle East and Eastern Europe. Market stability depends on whether diplomatic efforts can prevent a wider escalation between Washington and Tehran.
What is confirmed
- Brent crude hit $110 per barrel for the first time since May, an increase of 3.7%.
- The Iranian Revolutionary Guards stated three oil tankers hit mines in the Strait of Hormuz.
- One tanker carrying two million barrels of crude oil exploded and caught fire after hitting a mine.
- Two other ships caught fire and became immobilized after hitting mines.
Still unconfirmed
- Qatar and Pakistan have presented a proposal to the US and Iran to ease tensions.
What to watch next
- Confirmation of the diplomatic proposal's terms by US or Iranian officials
- Reports on the status of the immobilized tankers
- Updates on Houthi activity in Saudi Arabia
confidence 90%Sources used for this update (6)
- economictimes.indiatimes.com — Business News Live, Share Market News - Read Latest Finance News, IPO ...
- www.investing.com — Investing.com - Stock Market Quotes & Financial News
- www.myasset.com — Sector News & Data
- www.worldoil.com — Oil hits $110 as Houthi strikes, Russia-Ukraine attacks lift supply fears
- jen.jiji.com — Iran, Pasdaran: "Three oil tankers hit mines in the Strait of Hormuz, one exploded"
- jen.jiji.com — Italy in the grip of bad weather, disturbance arriving with rain and downpours: Betti's (Cnr) forecasts
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Brent Crude Surges Above $110 Amid Houthi and Russia-Ukraine Strikes
Brent crude prices have climbed above $110 a barrel as escalating attacks by Iran-aligned Houthi rebels on Saudi Arabia and strikes involving Russia and Ukraine trigger severe supply fears. Prices rose nearly $2 a barrel on Monday, outweighing potential supply increases. Market volatility is further driven by an Iranian attack on a ship in the Strait of Hormuz and the threat of Hurricane Isaias to Gulf output. Traders are currently balancing these geopolitical risks against a failing Russia-Ukraine energy ceasefire.
Why it matters
Oil markets are reacting to a convergence of Middle East instability and weather-related disruptions in the Gulf of Mexico. These events occur as the U.S. and Iran engage in tensions that threaten global energy transit. The surge in crude prices coincides with seasonal highs for diesel and tightening outlooks from the IEA.
What is confirmed
- Brent crude prices have risen above $110 a barrel.
- Houthi rebels have increased attacks on Saudi Arabia.
- Oil prices rose nearly $2 a barrel on Monday.
- Hurricane Isaias is threatening oil output in the Gulf.
- Iran attacked a ship in the Strait of Hormuz.
Still unconfirmed
- Saudi Arabia is turning to Iran for assistance amid Houthi strikes.
- A Russia-Ukraine energy ceasefire is unraveling.
What to watch next
- Updates on the status of the Russia-Ukraine energy ceasefire
- IEA reports on diesel supply tightness
- Further movement of Brent crude prices relative to the $110 threshold
confidence 85%Sources used for this update (15)
- www.ms.now — MS NOW (formerly MSNBC) - US News Today | Breaking News
- www.foxnews.com — Fox News - Breaking News Updates | Latest News Headlines | Photos...
- nypost.com — New York Post – Breaking News, Top Headlines, Photos & Videos
- www.ibtimes.com.au — Oil Prices Swing as Brent Tops $105 Amid Riyadh Airport Attacks, Hurricane Isaias and Russia Energy Cease....
- www.cnbc.com — Oil rises amid growing tensions between Saudis and Iran ...
- finance.yahoo.com — Oil prices rise on Saudi Arabia attacks, overshadowing Trump ...
- www.iranintl.com — Oil prices climb on Saudi-Houthi supply concerns | Iran ...
- help.naver.com — Futures Flat As Oil Rebounds After Trump's "Energy Ceasefire" Unravels, Memory Stocks Slide | ZeroHedge
- www.marketscreener.com — Global Stocks Fall on Higher Oil Prices, AI Pullback | MarketScreener
- timesofindia.indiatimes.com — Saudi Arabia Turns To Iran Amid Houthi Strikes, Dealing Trump A Major Gulf Blow? - Times of India Videos
- finance.yahoo.com — Oil prices rise as Houthi-Saudi attacks spur supply uncertainty
- seekingalpha.com — Weekly Commentary: Hope I'm Wrong
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Saudi Airport Closed Following Attack; Trump and Iran Discuss Peace
Crude oil prices remain elevated above one hundred one dollars a barrel amid escalating Middle East tensions, while Saudi Arabia extends the closure of an airport following a suspected Houthi missile attack. President Donald Trump and Iranian officials state that U.S. midterm elections are not influencing their plans for peace negotiations this week. Meanwhile, British Prime Minister Andy Burnham stated that Russia interfered in the 2016 Brexit referendum and warned of similar foreign operations targeting France and Germany. Global markets continue to monitor these developments alongside Gulf of Mexico supply disruptions.
Why it matters
The ongoing regional instability connects Houthi strikes against Saudi infrastructure and maritime disruptions in the Strait of Hormuz to broader inflationary pressures and market anxieties. Diplomatic efforts between the United States and Iran run parallel to these physical security threats in the energy supply corridors. Concurrently, political leaders in Europe are addressing separate national security concerns regarding foreign electoral interference.
What is confirmed
- President Donald Trump and Iran both stated that U.S. midterm elections are not a factor in peace negotiations.
- Saudi Arabia is extending the closure of an airport following a suspected Houthi missile attack.
- British Prime Minister Andy Burnham stated that Russia interfered in the Brexit referendum.
What to watch next
- Reopening status of the closed Saudi airport
- Progress on U.S.-Iran peace negotiations
- Further updates on Strait of Hormuz shipping security
confidence 100%Sources used for this update (2)
- www.foxnews.com — Trump and Iran both say US Midterm Elections not a factor in peace talks | Live Updates from Fox News Dig....
- jen.jiji.com — Burnham, 'clear that Russia interfered with Brexit vote'
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Oil Prices Surge as Houthi Attacks and Gulf Storm Hit Supplies
Crude oil prices hovered above $101 a barrel as Houthi missile strikes on Saudi Arabia and tanker attacks in the Strait of Hormuz compounded supply anxiety. Brent crude rose following a wave of attacks targeting Riyadh and other Saudi sites, while Tropical Storm Isaias shut in over 510,000 barrels per day of crude output in the Gulf of Mexico. The supply disruptions rattled global stock markets, pushing U.S. and Asian shares lower as investors weighed inflationary pressures and potential central bank rate hikes against ongoing Middle East turmoil.
Why it matters
Oil markets have faced intense volatility driven by stalled peace talks between the United States and Iran, alongside persistent regional conflict. The latest spike follows coordinated Houthi missile strikes and continuing marine attacks that threaten key shipping lanes and infrastructure in Saudi Arabia. Meanwhile, domestic energy output took a major hit from extreme weather in the Gulf, compounding the upward pressure on energy commodities.
What is confirmed
- Brent crude held above $101 a barrel as Houthi missiles struck Saudi airports and operations were disrupted at King Khalid International Airport.
- Gulf of Mexico oil producers shut in more than 510,000 barrels per day of crude output due to Tropical Storm Isaias.
- U.S. stock futures fell and Treasury yields rose in early European trade amid rising oil prices and an artificial-intelligence wobble.
Still unconfirmed
- The Trump administration instructed the Pentagon to develop strike options against Iran that could be carried out before the midterm elections.
What to watch next
- Recovery of oil production in the Gulf of Mexico following Tropical Storm Isaias
- Subsequent military actions by the Riyadh-led coalition in Yemen
- Further statements or policy decisions from the Federal Reserve regarding interest rates
confidence 95%Sources used for this update (18)
- www.cbsnews.com — Battle with Iran-backed Houthis in Yemen tempers news on oil ...
- www.briefs.co — Oil Rises After Houthi-Linked Attacks Rekindle Supply Worries
- energy.economictimes.indiatimes.com — Oil prices rise as US storm threatens output, Saudi attacks ...
- www.aljazeera.com — US stocks slide as oil prices fluctuate over renewed Iran war ...
- www.briefs.co — China Signals Retaliatory Tools If EU Trade Steps Up
- www.marketscreener.com — Oil Prices Rise as Persistent Mideast Tensions Keep Supply Disruption Fears Elevated | MarketScreener
- finance.yahoo.com — Oil prices rise above $100 on Gulf storm, Houthi attacks
- tradingeconomics.com — Oil Rises on Fears of US-Iran Escalation - TRADING ECONOMICS
- timesofindia.indiatimes.com — ED being used for political vendetta against Pinarayi Vijayan, says CPM’s A Vijayaraghavan | Kochi News
- www.marketscreener.com — Global Stocks Fall on Higher Oil Prices, AI Pullback
- www.lgt.com — Oil climbs as escalation fears unsettle stocks | LGT
- en.sedaily.com — Trump Vows No Iran Strike Before Nov. 3 Midterms as Oil Jumps - Seoul Economic Daily
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Oil Prices Rise Amid US Troop Deployment and Red Sea Refinery Attack
Crude oil and gasoline prices surged Thursday as US-Iran peace talks remained deadlocked and the US planned to deploy more troops to the Middle East. November WTI crude oil closed up +2.45 (+2.71%) and November RBOB gasoline rose +0.1421 (+4.36%). Market volatility increased following a strike on the Saudi Aramco-Exxon refinery in Yanbu, though the facility reported limited damage. These developments offset previous price drops triggered by G7 pledges to release crude and diesel inventories.
Why it matters
The Strait of Hormuz remains a critical chokepoint for global energy supplies. Ongoing hostilities between the US and Iran threaten to disrupt these transit routes. Recent military movements and infrastructure attacks signal a shift from diplomatic efforts toward active escalation.
What is confirmed
- November WTI crude oil closed up +2.45 (+2.71%) on Thursday.
- November RBOB gasoline closed up +0.1421 (+4.36%) on Thursday.
- A strike on the Saudi Aramco-Exxon refinery in Yanbu caused limited damage.
Still unconfirmed
- The US troop deployment signals preparation to escalate its war against Iran.
- The Yanbu refinery was targeted in a wave of Iranian attacks.
What to watch next
- Outcome of US-Iran peace talks
- Further US troop deployment numbers
- Saudi military response to Houthi activity
confidence 90%Sources used for this update (4)
- saudipress.com — Saudi Aramco–Exxon Refinery in Yanbu Targeted in Latest Wave ...
- finance.yahoo.com — Crude Oil Prices Surge on Possible Escalation of US-Iran War
- www.econotimes.com — Oil Prices Surge as U.S.-Iran Tensions Fuel Supply Fears - EconoTimes
- www.zawya.com — Oil jumps 4% on US plan to deploy more troops to Mideast
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Crude Prices Drop After G7 Inventory Release Pledges
Crude oil prices fell following a pledge by G7 nations to release crude and diesel inventories in an effort to ease high fuel prices. This reverses previous market spikes driven by U.S.-Iran hostilities and maritime disruptions in the Hormuz Strait. Energy markets face changing supply pressures as international nations step in with reserve releases, countering earlier concerns over dismissed peace proposals and regional escalation. Separately, Saudi Arabia is reportedly preparing a military offensive against the Houthis, which could introduce further volatility to energy transit routes.
Why it matters
Energy markets remain highly sensitive to Middle Eastern security due to key transit choke points like the Hormuz Strait. Recent diplomatic friction intensified after U.S. President Donald Trump dismissed an Iranian peace proposal. The G7 inventory release aims to calm supply chain pressures that previously pushed prices above $108 per barrel.
What is confirmed
- Crude oil fell after the G7 nations announced the release of diesel and crude inventories to ease high fuel prices.
Still unconfirmed
- Saudi Arabia reportedly is planning an offensive against the Houthis.
What to watch next
- Implementation and volume of the G7 diesel and crude inventory releases
- Confirmation of any military offensive by Saudi Arabia against the Houthis
- Subsequent movements in global crude oil prices
confidence 90%Sources used for this update (4)
- seekingalpha.com — Oil prices drop as G7 nations pledge to release diesel stocks; Saudis said planning attack on Houthis
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Oil Prices Surge Past $108 Following US-Iran Escalation
Oil prices jumped by more than 4% to top $108 per barrel as energy markets reacted to deepening hostilities between the United States and Iran. The price surge occurred after U.S. President Donald Trump dismissed an Iranian proposal aimed at restarting peace talks and reopening the Hormuz Strait. Supply chains converting crude into fuel remain pressured amid ongoing maritime disruptions, while broader geopolitical tensions intensify following the dismissal of the Qatari-mediated peace offer.
Why it matters
The escalation compounds previous market disruptions driven by Houthi rebel strikes on Saudi facilities and ballistic missile interceptions. Diplomatic channels face severe strain as U.S. leadership commits to continued military engagement despite rising casualties. Meanwhile, global trade alliances shift amidst broader diplomatic maneuvering at the United Nations General Assembly.
What is confirmed
- Oil prices surged by more than 4% to top $108 a barrel.
- U.S. President Donald Trump dismissed an Iranian proposal to kickstart peace talks and reopen the Hormuz Strait.
Still unconfirmed
- President Trump's rejection of the Qatari-mediated peace proposal signals a commitment to continued military engagement despite rising U.S. casualties.
What to watch next
- Further developments in U.S.-Iran military posture
- Shifts in crude tanker traffic through the Strait of Hormuz
- Potential new diplomatic interventions from mediators like Qatar
confidence 90%Sources used for this update (9)
- www.upi.com — Oil prices top $108 a barrel on fears of a resumption of U.S.-Iran war - UPI.com
- gardnermagazine.com — World News of the Week – Gardner News Magazine: Local News & Articles in Gardner MA
- elderofziyon.blogspot.com — 09/29 Links Pt1: What Bibi knew; A Two-State Solution Was a Casualty of October 7 for This Generation; Os....
- kimkj.com — [AI Library] Trump, the Diplomacy of Insult – Chapter 7: Launch of Operation 'Epic Fury' and the Surge ....
- elderofziyon.blogspot.com — 09/30 Links Pt1: Heroic Israelis avert a tragedy in the sky; A Nation Like a Lion’—Israeli Airline Pa....
- www.gulf-times.com — tag - Gulf Times
- finance.yahoo.com — Oil prices jump as hopes for US-Iran deal fade
- en.parapolitika.gr — Oil prices surge to $90 as Red Sea ship attacks escalate
- www.hindustantimes.com — The bond rout is deepening even as oil tankers return to the Strait of Hormuz | World News
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Oil Prices Jump Following Houthi Attacks and Escalation
Oil prices climbed as markets reacted to escalating tensions in the Middle East, with Brent crude topping $106 per barrel. The price surge follows claims by Yemen-aligned Houthi rebels of attacks on Saudi facilities and reports that Saudi Arabia intercepted six ballistic missiles. Meanwhile, diplomatic efforts faced setbacks as talks between the United States and Iran showed little sign of progress. Despite persistent supply risks and pipeline damage affecting Saudi Aramco allocations, Gulf oil producers continue to maintain massive crude flows through the Strait of Hormuz using military escorts and rerouted tankers.
Why it matters
The recent market volatility underscores the fragile state of global energy supplies as the regional conflict reaches the seven-month mark. Rising US-Iran tensions have widened the scope of the conflict, drawing in Houthi actions against Saudi infrastructure. Markets remain sensitive to disruptions in key transit corridors like the Strait of Hormuz, where continued crude flows clash with ongoing military escalations.
What is confirmed
- Brent crude topped $106 a barrel after Iran-aligned rebel groups claimed to have successfully attacked Aramco facilities.
- Saudi Arabia stated it intercepted six ballistic missiles launched at the kingdom.
- U.S.-Iran talks showed little sign of progress.
Still unconfirmed
- Iran met with a US envoy to discuss conditions to reopen Hormuz.
What to watch next
- Further developments in U.S.-Iran diplomatic talks and potential changes in leadership demands.
- Assessment of repair timelines and allocation impacts on Saudi Aramco facilities following reported attacks.
- Security updates regarding tanker traffic and military escorts in the Strait of Hormuz.
confidence 85%Sources used for this update (9)
- www.khaleejtimes.com — Iran FM meets US envoy to discuss conditions to reopen Hormuz, says state media
- www.foreignaffairs.com — The Stalemate With Iran Is Not Sustainable
- www.gramercy.com — EM Weekly September 26, 2026 - Gramercy - Emerging Markets Investing
- finance.yahoo.com — Oil Prices Jump on Houthi Attacks, U.S.-Iran Escalation Fears
- www.zerohedge.com — Futures Slide As Oil Jumps, Bond Selloff Resumes After Trump Spurns Iran Offer | ZeroHedge
- www.aljazeera.com — Oil prices jump after Yemen’s Houthis claim attacks on Saudi facilities | Oil and Gas News
- www.mitrade.com — Brent: Supply risks contrast softer prices – ING
- www.yahoo.com — Iran says it's up to Trump to choose between war and diplomacy
- gulfnews.com — Defying war fears, Gulf oil producers keep massive crude flows moving through Strait of Hormuz - Gulf New....
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Oil Prices Volatile Amid U.S.-Iran Diplomacy and Houthi Attacks
Oil prices are fluctuating as markets weigh conflicting signals from Middle East tensions and diplomatic efforts. Prices recently hit a two-week low following news that the U.S. and Iran held their first talks since June and Iran expressed openness to diplomacy to end the war. However, prices previously surged above $106 and Brent topped $105 due to fears of U.S.-Iran escalation and Houthi claims of attacks on Saudi facilities. Current market stability is tied to reports that the two nations are exploring a phased deal.
Why it matters
Energy markets are highly sensitive to the security of the Strait of Hormuz and Saudi oil infrastructure. Continued instability in the region threatens global supply chains. Recent threats of annihilation from the U.S. against the Iranian regime have heightened the risk of military conflict.
What is confirmed
- The U.S. and Iran held their first talks since June.
- Brent crude prices topped $105 a barrel.
- Oil prices rose above $106 when diplomacy stalled at the UN.
- Oil prices reached a two-week low based on hopes for pipeline reopenings and diplomacy.
Still unconfirmed
- Iran proposed a 7-day plan to reopen the Strait of Hormuz.
What to watch next
- Confirmation of a phased deal between the U.S. and Iran
- The outcome of the proposed 7-day plan for the Strait of Hormuz
- U.S. crude stock data reports
confidence 90%Sources used for this update (13)
- NBC News — Oil prices tumble to 2-week low on hopes for critical pipeline reopening and Iran diplomacy
- cbsnews.com — Iran War Updates: U.S. and Iran hold first talks since June after Trump threatens regime with annihilation
- Reuters — Oil prices fall as Iran says it is open to diplomacy to end the war
- WSJ — Oil Prices Fall After U.S. Crude Stocks Rise
- Yahoo Finance — Oil prices rise above $106 as Iran-U.S. diplomacy stalls at UN
- CNBC — Oil falls amid optimism over potential diplomatic solution to the Iran conflict
- Bloomberg — Oil Steadies With the US, Iran Said to Be Exploring Phased Deal
- Yahoo Finance — Oil Prices Rebound as Brent Tops $105 a Barrel on U.S.-Iran Escalation Fears
- Reuters — Oil prices fall as markets look to Iran truce, but remain wary of attacks on oil facilities
- Al Jazeera — Oil prices jump after Yemen’s Houthis claim attacks on Saudi facilities
- WSJ — Oil Prices Fall as U.S.-Iran Diplomacy and Regional Tensions Remain in Focus
- www.yahoo.com — Iran proposes a 7-day plan to reopen the Strait of Hormuz
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