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US President Donald Trump announced on June 16 that oil tankers are beginning to transit the Strait of Hormuz after the US and Iran agreed to sign a memorandum of understanding on June 17 to reopen the strategic waterway. The initial agreement includes ending combat and the naval blockade, with more complex issues to be addressed during a 60-day negotiation phase.
The Strait of Hormuz is expected to reopen on June 19 after the US and Iran signed an agreement, according to a new report. The reopening comes after the strait's closure amid heightened Middle East tensions disrupted global oil and gas supplies.
Iraqi Prime Minister Ali al-Zaidi has pledged security reforms to bring weapons under state control. Some Shia Muslim armed groups, led by Muqtada al-Sadr, have agreed to integrate into government forces, but others, such as Kataib Hezbollah, remain opposed. The road ahead is uncertain, with analysts warning the process will be long and complex.
Iran has declared a total closure of the Strait of Hormuz to all oil tankers and commercial vessels, vowing to fire on any ship attempting to pass through. The escalation follows days of US airstrikes on Iran, with both sides trading attacks and risking a broader conflict. The strait closure has driven oil prices sharply higher and threatens global energy supplies.
President Donald Trump claims the US secretly moved 100 million barrels of oil through the Strait of Hormuz, but maritime tracking data show the actual volume is far lower. Many ships transited with Iran's permission, paying fees to the IRGC. Experts and officials expressed skepticism about the president's statement.
Iran has lost nearly $6 billion in oil revenue over April and May 2026, after the US Navy imposed a blockade on its ports. Data from Kpler shows exports fell from nearly 2 million barrels per day in March to under 300,000 barrels per day in May. The blockade, launched by President Donald Trump on April 13, aims to pressure Tehran into accepting peace terms.
During a visit to India to boost energy cooperation, Delcy Rodriguez, a follower of guru Sathya Sai Baba, is expected to visit his birthplace in Puttaparthi. The story of the spiritual connection between Venezuela's leadership and this controversial 'saint' draws attention. The trip focuses on oil exports and includes a planned pilgrimage.
Iran declared full control over the Strait of Hormuz on December 25, citing comprehensive authority to manage the critical oil shipping route. The announcement escalates tensions with the U.S., which has boosted its Gulf military presence, and raises concerns about global energy security.
The United States carried out a second round of strikes near Iran’s strategic port city of Bandar Abbas within a week, escalating tensions around the Strait of Hormuz despite a fragile ceasefire. The port is a vital military hub for Iran’s navy and a critical chokepoint for global oil shipments, influencing both regional security and ongoing peace talks.
