hormuz
Follow Chronicle's coverage of "hormuz" — 5 published articles so far, refreshed hourly.
Wall Street Slides as Oil Swings on Renewed Fears of Iran War Escalation
Wall Street fell and crude oil seesawed on Wednesday as fears of a renewed escalation in the US-Iran war sent investors fleeing risk. Crude surged on warnings that Iran is stepping up attacks in the Strait of Hormuz, then gave back gains after IEA members signalled they are ready to release strategic reserves.
Rubio: Iran Has Lost Control of Hormuz, Its Economy Is in 'Total Freefall'
US Secretary of State Marco Rubio said in Athens on October 7 that Iran has 'lost complete control' of the Strait of Hormuz, with oil flows nearly back to pre-war levels, and that Tehran's economy is in 'total and complete freefall' under crippling sanctions.
Aramco Chief Warns It Could Take Two Years to Rebuild Global Oil Stockpiles as Hormuz Squeeze Tightens
Amin Nasser told the Energy Intelligence Forum in London that nearly 3 billion barrels of oil supply have been lost since the war on Iran began, that the world's emergency stockpile cushion has become 'scarily thin', and that refilling reserves could take up to two years even after the Strait of Hormuz reopens.
Saudi Arabia Restores East-West Pipeline to 5.8 Million bpd, Easing Fears Over Hormuz Chokepoint
Saudi Energy Minister Prince Abdulaziz bin Salman said flows through the East-West Pipeline reached 5.8 million barrels per day on Tuesday, rebuilding the kingdom's Hormuz-bypass export route after September drone attacks — a key reason oil prices slid for a third straight session.
OPEC+ Keeps Oil Output Targets Steady for November as Iran War Squeezes Gulf Supply
Seven core OPEC+ members met by video conference on Sunday and left November production targets unchanged — the second straight month of standing pat. With the Strait of Hormuz effectively closed since February and Gulf exports at 60–80% of normal levels, Brent crude remains above $100 a barrel.