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Global shippers cautious on Hormuz transit despite US-Iran deal

TOKYO/COPENHAGEN — Shippers in Asia and Europe said confidence in resuming transit through the Strait of Hormuz could take weeks to rebuild and navigation will only restart once safety is assured, after the U.S. and Iran agreed a framework deal to reopen the waterway. U.S. and Iranian officials are expected to sign a memorandum of understanding to end their war and reopen the strait on Friday. Global oil prices fell about 5 percent on Monday in response. President Donald Trump said in a Truth Social post that ships loaded with oil are starting to move out of the strait, "going along the Southern 'Highway,' which is totally safe, secure, and pristine". There were no significant tanker crossings visible in vessel-tracking data on Monday, aside from one LNG carrier, however ships have been quietly moving barrels along Oman's coast for weeks, sailing "dark" with U.S. navy support. The data, which captures only vessels actively transmitting their positions, showed dozens of tankers clustered on both sides of the Strait of Hormuz. Shippers welcomed news of the deal, but are waiting for more

10h agoBy Reuters
Global shippers cautious on Hormuz transit despite US-Iran deal
World

Trump celebrates 80th birthday with Iran deal and UFC cage fights at White House

WASHINGTON — President Donald Trump marked his 80th birthday on Sunday by hailing an initial agreement to end the war in Iran and staging a once unfathomable cage-fighting show on the White House's storied South Lawn. Trump had been touting the emerging deal for weeks and the continuing conflict threatened to overshadow the UFC mixed martial arts extravaganza, where combatants inside a wire-mesh Octagon tried to punch, kick, chop and pummel each other into submission. Ahead of the event, however, the president said an agreement to end the conflict “is now complete." He declared that the U.S. will end its blockade of Iran, and that the Strait of Hormuz would reopen. Crucial details still need negotiating over the coming weeks, however. Top administration officials and Republican leaders attended the fights, including Secretary of State Marco Rubio and House Speaker Mike Johnson. Polish President Karol Nawrocki was also at the White House. It started with Trump and UFC chief Dana White walking together from the Oval Office to the Blue Room Balcony to survey the Octagon, standing for th

10h agoBy AP
Trump celebrates 80th birthday with Iran deal and UFC cage fights at White House
World

Oil falls 5% to 3-month low as US, Iran reach deal to reopen Strait of Hormuz

HOUSTON — Oil prices slumped 5 percent to a three-month low on Monday amid a broad selloff after the U.S. and Iran said they agreed terms to end their war and reopen the Strait of Hormuz. Brent crude futures fell $4.38, or 5.02 percent, to $82.95 a barrel by 10:54 a.m. EDT (1455 GMT) and U.S. West Texas Intermediate was at $80.28, down $4.60, or 5.42 percent. Both contracts fell to their lowest levels since March 10 on Monday after tumbling more than 3 percent on Friday. WTI futures fell as much as $5 during the session. The U.S. and Iran will sign a memorandum of understanding in Switzerland on Friday, said the prime minister of Pakistan, whose country has served as a mediator. Trump said on Sunday that the Strait of Hormuz would be open "toll free" and that a U.S. naval blockade of Iranian ports would also end, though it remains in effect pending completion of the ceasefire agreement. Iran's semi-official Mehr news agency said the draft deal called for reopening the Strait of Hormuz within 30 days under Iranian arrangements. "With a wall of oil supply very possibly on the way, the

12h agoBy Reuters
Oil falls 5% to 3-month low as US, Iran reach deal to reopen Strait of Hormuz
World

Lee welcomes US-Iran ceasefire deal, hopes for resumption of safe Hormuz shipping

SEOUL/ROME — President Lee Jae Myung on Monday welcomed a ceasefire deal reached between the United States and Iran, expressing hope it will help restore regional stability and allow vessels transiting the Strait of Hormuz to resume safe operations. In a post on X, Lee described the agreement as "an important step" toward resolving a situation the international community has long sought to address and praised U.S. President Donald Trump's leadership, as well as the diplomatic efforts of the parties involved and other relevant countries. "Through this agreement, I look forward to the swift restoration of peace and stability in the Middle East, and the establishment of a foundation for the safety and prosperity of the people of the region," Lee said in the post written while visiting Italy, part of his first European tour since taking office in June last year. He also expressed hope that global energy supplies will stabilize and that all vessels, including South Korean ships and sailors affected by navigation restrictions in the Strait of Hormuz, will be able to safely resume operations

12h agoBy Yonhap
Lee welcomes US-Iran ceasefire deal, hopes for resumption of safe Hormuz shipping
World

France's Macron warns Iran against imposing Hormuz tolls

EVIAN-LES-BAINS, France — French President Emmanuel Macron on Monday warned Iran against imposing tolls on shipping through the Strait of Hormuz, saying "everything" should be done so fees are not charged for passage through the key bottleneck. Iran's Fars news agency reported earlier that Tehran added a clause on imposing maritime service fees to the framework deal with the United States on ending the Middle East war, shortly before its announcement. "We defend international law and we will do everything in our power to ensure there is no toll," Macron told TF1 television ahead of the G7 summit in France, set to be attended by U.S. President Donald Trump. The details of the agreement have not been disclosed publicly. Macron said the accord had already been signed "electronically" and additional annexes would be "finalized" on Friday. "I don't want to enter into the details," he said. Macron said a joint France-U.K. mission to ensure the Strait opens was prepared to deploy "very quickly," with the French flagship aircraft carrier Charles de Gaulle ready to be in the zone "on a timescale

14h agoBy AFP
France's Macron warns Iran against imposing Hormuz tolls
World

UK PM announces ban on social media for under-16s

LONDON — British Prime Minister Keir Starmer on Monday announced a forthcoming total ban on social media for children under 16, saying that such platforms are "making children unhappy". Starmer said that the government "will ban access to social media for all children under the age of 16", warning that these platforms are "exposing them to content that is dangerous" and "designed to be addictive". The government said the ban will "include platforms like Snapchat, TikTok, YouTube, Instagram, Facebook and X" but not messaging services such as WhatsApp. He added he hoped to pass the regulation by late December and for the ban to come into force in spring next year. The prime minister also said the government would go further and take "world-leading action on gaming services and live streaming platforms". The government said in a statement it would also be considering overnight curfews and breaks in infinite scrolling for under 18s, and would announce more detail in July. Starmer said the upcoming ban was influenced by the experience of Australia, which in December became the first nation to

19h agoBy AFP
UK PM announces ban on social media for under-16s
World

Oil, gas supplies could take months to return to normal after Iran deal, energy experts say

NEW YORK — High oil and gasoline prices and energy supply problems won't be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won't be seen immediately, they said. Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world’s oil and gasoline supplies typically traveled before the war began. “It’s going to take time for people to feel comfortable and for insurance to be in place ... particularly to get people on the ground to restart some of these assets,” said Daniel Evans, global head of fuels and refining research at S&P Global Energy. First, ships that have been stranded will have to exit the strait, and then new

1d agoBy AP
Oil, gas supplies could take months to return to normal after Iran deal, energy experts say
World

Trump's 80th birthday presents: Iran deal and UFC fights

WASHINGTON — U.S. President Donald Trump marked turning 80 on Sunday by hailing an agreement to end the war in Iran hours before a birthday celebration that once would have seemed unfathomable: a cage-fighting show on the storied South Lawn of the White House. He had been touting the emerging deal for weeks, and last-minute strikes in the conflict had threatened to overshadow the ostentatious UFC mixed martial arts extravaganza — where combatants sealed inside a wire-mesh octagon try to punch, kick, chop and pummel each other into submission. Hour before the fights began, the president said an agreement to end the conflict “is now complete" and declared that the U.S. will end its blockade of Iran and that Strait of Hormuz would reopen, potentially easing high oil prices and skittish global markets. But the crucial details are still to be negotiated. Word of the deal will allow the president to be especially jubilant as he walks out of the White House for the fights. Cabinet leaders, Republican lawmakers and 4,000-plus spectators screaming themselves hoarse will join him in a tempo

1d agoBy AP
Trump's 80th birthday presents: Iran deal and UFC fights
World

Trump says interim deal reached to end Iran war, Strait of Hormuz to reopen

ISLAMABAD — The United States and Iran have reached an initial agreement to end their war and open the Strait of Hormuz, offering relief to the Gulf region and global economy more than three months since fighting began. Details of the deal were not immediately released and Iran signaled implementation would not start until the signing, which key mediator Pakistan said would occur Friday in Switzerland. It was expected to extend the tenuous ceasefire reached in April so that negotiators can try to resolve thorny issues such as Iran's nuclear program and related sanctions. There was no immediate word from Israel, which together with the U.S. started the war on Feb. 28 but has expressed skepticism about the negotiations. But even as it became clear the parties still have days to influence what lies ahead, the announcements had an air of relief. “Congratulations to all!” U.S. President Donald Trump wrote on social media, adding: “I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States N

1d agoBy AP
Trump says interim deal reached to end Iran war, Strait of Hormuz to reopen
World

Trump says Iran deal complete, Strait of Hormuz to reopen upon signing Friday

WASHINGTON — U.S. President Donald Trump said Sunday that the United States and Iran have reached a peace deal to end their monthslong war, noting that the crucial Strait of Hormuz will reopen once they sign the deal later this week. Trump announced the deal on social media, capping grueling negotiations to end the hostilities that started with the U.S.-Israeli attack on Iran on Feb. 28, as Pakistani Prime Minister Shehbaz Sharif, a key mediator, said that the official signing ceremony for the deal will take place in Switzerland on Friday. "The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!" Trump wrote on Truth Social." "I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!" In a separate post, Trump cast the deal as a "great" one that will bring peace to the "whole" Middle East region. "Many presidents have tried to make Peace with Iran, and all have failed before me. The Leaders

1d agoBy Yonhap
Trump says Iran deal complete, Strait of Hormuz to reopen upon signing Friday
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