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US oil hits highest price since 2024, while Azerbaijan says it was struck by Iranian drone on sixth day of conflict
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India's trade deal with President Trump was supposed to end its imports of oil from Russia. But the war in Iran has cut off alternative supplies from the Middle East.
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China in talks with Iran to allow safe oil and gas passage through Hormuz, sources say ReutersChina Tells Top Refiners to Halt Diesel and Gasoline Exports BloombergBeijing braces for economic impact as Iran war threatens Chinese oil: "A manmade crisis" CBS NewsChina calls for vessels in strait of Hormuz to be protected amid soaring shipping costs The Guardian
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Oil futures are at their highest level since July 2024. The S&P 500 is now in negative territory for the year.
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US lacks firepower to provide $350bn in coverage needed to revive Strait of Hormuz transits, JPMorgan says
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