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US natural gas near a two-month low as the gap with global LNG widens amid the Hormuz crisis
US natural gas (Henry Hub) fell to about $2.85 per million BTU in mid-July, its lowest level in two months. Rising domestic output (around 110 billion cubic feet per day), above-average inventories, and lower LNG exports during maintenance at the Freeport terminal (from July 10 until late August) have kept US domestic supply ample. That decline runs opposite to the trend in global gas prices, where disruption in the Strait of Hormuz and reduced LNG loadings in the Persian Gulf have tightened supply for European and Asian buyers and pushed prices higher. The gap shows how the current energy crisis has split the world gas market in two: the US with a cheap surplus, and Hormuz-dependent markets facing scarcity and higher costs.
Trading Economics · Jul 21, 2026
Russia bans diesel exports through end of July, squeezing the global fuel market
Russia imposed a full ban on diesel exports on July 8 to boost supplies to its domestic market. Deputy Prime Minister Alexander Novak announced the decision at a meeting attended by Vladimir Putin. The move follows large-scale Ukrainian drone attacks on Russian refineries that, according to reporting, have knocked out about 25 percent of the country's oil-refining capacity versus a year earlier, causing fuel shortages and rationing (a cap of 20 liters per vehicle) across more than 20 regions. According to CNN and Intercontinental Exchange (ICE) data, the global benchmark diesel price jumped nearly 13 percent on the day the ban was announced. The Russian government said the ban runs through July 31, with pre-existing committed shipments, including a deal with Mongolia, exempted. The restriction is tightening the fuel market just as global energy traders also brace for deeper disruption in the Strait of Hormuz, two forces that can pressure the prices of oil products relevant to Iran.
CNN · Jul 21, 2026
Tanker and ship traffic through the Strait of Hormuz falls to its lowest in months
Maritime traffic through the Strait of Hormuz has fallen sharply amid the escalating military tensions between Iran and the United States. According to vessel-tracking data cited by CNN on Tuesday, 21 July 2026, only about 9 vessels passed through the waterway in the latest 24-hour window, compared with a pre-conflict daily average of roughly 130. Since the ceasefire collapsed around early July, at least seven commercial ships transiting the strait have been struck. About one fifth of the world's consumed crude oil passes through the strait, and the steep drop in traffic, together with a surge in tanker war-risk insurance premiums and the temporary suspension of major shipping lines, has added pressure to the energy supply chain and global oil prices.
CNN · Jul 21, 2026
Brent slips toward $89 on Tuesday as mediation hopes ease war pressure on oil
Crude oil prices edged lower early on Tuesday, July 21, pulling back from the previous session's highest levels in over a month. Brent crude futures for September delivery fell about 35 cents, or 0.4 percent, to around $88.87 a barrel, while U.S. West Texas Intermediate held near $82.47, little changed. On Monday, July 20, Brent had climbed above $90 as the intensifying U.S. and Iran conflict and disruption to Strait of Hormuz traffic tightened the supply outlook. The pullback was tied to reports that mediators are seeking a ten-day pause in the fighting and to Tehran's confirmation that it had received diplomatic proposals. Even so, reduced tanker traffic through Hormuz and a threatened naval blockade of Saudi Arabia by Yemen's Houthis kept a floor under prices. Swings in oil feed directly into Iran's export revenue, budget and currency expectations.
CNBC · Jul 21, 2026
IRGC says two tankers disabled in Strait of Hormuz as Brent tops $90
Iran's Islamic Revolutionary Guard Corps (IRGC) said on Monday, July 20, 2026, that it had disabled two oil tankers that tried to cross the Strait of Hormuz without permission, using what it called an unsafe route. According to the IRGC, both vessels were left immobilized after explosions. The British military separately reported seeing a ship on fire near the Omani coast in the strait. The incident came amid the continuing nightly US strikes on Iran, with traffic through Hormuz already at a near standstill. Oil prices climbed further on the news, with Brent crude topping $90 a barrel for the first time since June 11. Roughly a fifth of the world's oil passes through the Strait of Hormuz, so any disruption feeds directly into Iran's foreign-currency earnings and domestic markets.
NPR · Jul 21, 2026
Asian LNG prices jump amid Hormuz crisis; JKM benchmark hits about $21
Spot prices for liquefied natural gas (LNG) in Asia have risen sharply amid the Strait of Hormuz crisis and the continued force majeure on Qatar's exports. The Japan Korea Marker (JKM) rose 5.32% from the previous day to about $20.99 per million BTU on Friday, 17 July 2026. The benchmark is up roughly 37% over the past month and nearly 75% from a year ago. Qatar, one of the world's largest LNG exporters, has extended force majeure on part of its shipments. Higher Asian gas prices increase pressure on major importers such as China, Japan and South Korea and are tied to the energy crisis stemming from Iran US tensions.
Trading Economics · Jul 20, 2026
Global wheat prices hit a two-year high as fresh Black Sea attacks threaten grain exports
Global wheat prices rose on Monday, July 20, 2026, to their highest level since May 2024, accelerating after Russia and Ukraine intensified attacks on each other's commercial ships and ports in the Black Sea and the Sea of Azov, threatening grain exports. Market data showed wheat trading around 684 cents (near $6.84) a bushel on Monday, more than 14% higher over the past month and about 26% above a year earlier. Russian strikes on the ports of Chornomorsk, Odesa, and Pivdennyi have cut Ukraine's grain export capacity by roughly one-third. The jump matters for Iran, one of the world's largest wheat importers, because it can raise import costs and food-inflation pressure amid the war.
Reuters · Jul 20, 2026
Yemen's Houthis declare a naval blockade on Saudi Arabia, opening a new front and threatening oil supply
Yemen's Houthis (Ansarullah) announced on Monday, July 20, 2026, that they were imposing a naval blockade on Saudi Arabia with immediate effect, a move that opens a new front in the US-Iran war and widens the threat to global energy supplies and trade beyond the Persian Gulf. The Houthis framed the decision as a response to what they called a siege of Yemen by Saudi Arabia. The announcement rattled energy markets: analysts say a full closure of the Bab el-Mandeb strait, the southern gateway to the Red Sea, could halt Saudi oil exports to Asia and cut roughly 7% of global oil supply. On the same day, however, a senior Iranian official told Reuters that Tehran had received a proposal from mediators for a 10-day ceasefire to salvage the interim deal.
NBC News · Jul 20, 2026
Brent Reverses After Touching $90 as Tehran Signals Possible Talks
Global oil prices reversed lower on Monday, July 20, 2026, giving up all their gains after Brent briefly traded above $90 a barrel during the session. Brent for September delivery settled about 0.4 percent lower near $87.77 a barrel, while U.S. West Texas Intermediate for August delivery fell about 0.9 percent to roughly $81.74. The turn came after Esmail Baghaei, spokesman for Iran's foreign ministry, told a news conference on Monday that negotiations with the United States could be pursued based on national interests, adding that intermediaries were still exchanging messages and that new proposals had reached Tehran. Traders read the remarks as a sign that a path back to talks might reopen and pared some of the geopolitical risk premium that had weighed on crude for weeks. The shift matters for Iran's markets too. Alongside the easing tension, the free market dollar in Tehran retreated on Monday to around 187,000 to 190,000 tomans, and selling pressure carried into the domestic gold and coin market.
رویترز · Jul 20, 2026
China's Crude Oil Imports Plunged 41% in June to Lowest Monthly Volume Since October 2016
China's crude oil imports fell about 41% in June to nearly 29.27 million tonnes, the lowest monthly volume since October 2016, according to Chinese customs data released in mid-July. The drop was a direct result of the near-total disruption of tanker traffic through the Strait of Hormuz amid the intensifying US-Iran conflict, weak domestic refinery utilisation, and Beijing's strategy of drawing down pre-accumulated stockpiles rather than buying at elevated spot prices. China is the largest buyer of Iranian oil and the region's most important energy export market, so its reduced purchases affect both Iran's oil revenue and the global supply-demand balance. Analysts say China's cut in imports, from about 11.7 million barrels a day in February to just under 9 million a day by late May, has partly cushioned the Strait of Hormuz supply shock on the global market.
Energy Connects · Jul 20, 2026
Baltic Dry Index falls 3.1 percent on Friday to lowest since July 3
The Baltic Exchange's dry bulk freight index fell 88 points, or 3.1 percent, to 2,752 on Friday, July 17, 2026, its lowest since July 3, driven mainly by weaker capesize rates. The capesize index, which ships cargoes of about 150,000 tonnes of iron ore and coal, lost 242 points, or 5.6 percent, to 4,097 and was down nearly 12 percent for the week. Average daily earnings for capesize vessels dropped $2,196 to $33,653. The dry bulk decline, in contrast with the surge in Persian Gulf tanker rates, shows the Hormuz crisis is weighing more on the energy market and oil routes than on dry bulk shipping.
Hellenic Shipping News Worldwide · Jul 19, 2026
US LNG exports reach 34 cargoes in a week as the US-Europe gas price gap widens
US LNG plants shipped 34 cargoes in the week ending July 15, 2026, three more than the prior week. The US Energy Information Administration projects the country's gross LNG exports to reach about 16.7 billion cubic feet per day in 2026, up from 15.1 in 2025. Despite the brisk exports, the US Henry Hub spot price fell to about $2.80 per million BTU under the weight of Freeport terminal maintenance, while the Henry Hub-TTF spread with Europe widened to nearly $12.60. The gap reflects severe Qatari supply disruption, low European storage and tight global demand. Iran's March 2026 attack on Qatar's Ras Laffan export complex damaged two liquefaction trains, about 17 percent of Qatar's export capacity; Qatar supplied nearly 20 percent of global LNG in 2025.
LNG Prime · Jul 19, 2026
Naphtha's roughly 24 percent surge squeezes Asian petrochemical margins
The renewed naval blockade of Iran and the Strait of Hormuz disruption have lifted naphtha, the main feedstock for Asia's petrochemical industry. According to data from Korea National Oil Corporation's Petronet system, naphtha reached about $82 a barrel by July 13, 2026, roughly 24 percent above its June low. Asian steam crackers source more than 60 percent of their naphtha from West Asia and the Persian Gulf, and that dependence leaves producers in South Korea, Taiwan and Japan exposed to the Hormuz disruption. Before the crisis, about 20 percent of the world's oil transited the strait. The higher feedstock cost erases the relief producers gained in the first half of 2026 and prolongs the squeeze on margins.
S&P Global Commodity Insights · Jul 19, 2026
Asia's thermal coal demand climbs as LNG shortfall bites; Rystad sees 70-million-tonne rise in 2026
The disruption to global LNG supply caused by the Strait of Hormuz crisis is pushing Asian power plants and industry to switch from gas to coal. According to energy consultancy Rystad Energy in a July 2026 assessment, Asian coal demand could rise by about 70 million tonnes in 2026 under a tight gas-market scenario. The switching mechanism activates when spot LNG prices exceed thresholds of roughly $10.2 per million BTU in Japan and $10.5 in South Korea, while the forward Brent-linked LNG price for Japan in July 2026 is around $12.7. Japan leads the shift, with coal-fired generation up about 11 percent as gas output falls. The move matters for the energy market and for coal-dependent metals and cement industries.
OilPrice.com · Jul 19, 2026
US Strategic Petroleum Reserve falls to lowest since 1983 amid Hormuz-crisis drawdowns
The US Strategic Petroleum Reserve (SPR) fell to about 316.5 million barrels in the week ending July 10, 2026, the lowest level since April 1983. The reserve is now roughly 56 percent below its full capacity. Since the Strait of Hormuz closed in late February 2026, Washington has drawn nearly 99 million barrels from the reserve as part of an IEA-coordinated release to offset part of the global supply shortfall and fuel-price pressure. The steady drawdown narrows the buffer available to absorb further supply shocks, a factor the global oil market, and by extension inflation expectations and gold, are watching closely.
Rigzone · Jul 19, 2026
Global copper falls under demand worries and the Hormuz crisis; Chile storm and Antofagasta output drop add supply concern
Global copper prices fell on Friday, July 17, 2026, as worries about weaker demand amid inflation and risks from the Strait of Hormuz crisis offset supply concerns. Copper eased about 1.2 percent on the day. On the supply side, a powerful storm in Chile, the world's largest copper producer, caused widespread power outages and damage, and Antofagasta said its copper output in the first half of 2026 fell 9.5 percent to 285,000 tonnes, factors that lent some support to prices but did not prevent the decline. The trajectory of global copper prices matters for Iran, because it shapes the revenue and valuation of Tehran-listed copper producers such as National Iranian Copper Industries, and feeds into domestic industrial-metal costs.
بیزنس رکوردر / Business Recorder · Jul 19, 2026
World Bank Warns on Food Prices; Wheat Climbs amid the Hormuz Crisis
According to the World Bank's Commodity Markets Outlook, the West Asia war and disruption in the Strait of Hormuz have pushed global food prices higher through rising energy, fertilizer and shipping costs. Grain prices rose about 5% in the first quarter of 2026, led by a 9% jump in wheat and a 4% rise in maize; more recent reports say wheat has climbed about 13% since the previous update. West Asia and the Persian Gulf are the world's largest importers of wheat and rice, making them highly sensitive to price shocks; in March, food inflation rose sharply in the Persian Gulf's import-dependent economies. Iran is also a major wheat importer, and the trend feeds into household costs.
World Bank · Jul 19, 2026
Global Methanol Prices Climb; China's Reliance on Iranian Methanol in Focus
The Hormuz crisis and the US-Iran war have also caught up the methanol and petrochemical market. Industry reports through mid-July 2026 say higher freight, insurance and feedstock costs have lifted prices for methanol, sulfur and polymers, leaving import-dependent buyers with longer lead times. China sources more than 50% of its methanol from Iran, so any disruption to Iranian exports has a direct effect on the global market. According to these reports, non-sanctioned shipowners are refusing to carry Iranian-origin cargoes over fears of sanctions and blocked payments, a factor that could keep region-origin chemical prices elevated through the second half of 2026. Methanol is a major item in Iran's petrochemical exports.
Cyprus Shipping News · Jul 19, 2026
Aluminium Hits a Four-Year High as the Hormuz War Squeezes Persian Gulf Smelters
Aluminium on the London Metal Exchange reached a four-year high of about $3,655 to $3,707 a tonne in July 2026. The Strait of Hormuz is the only sea route for aluminium produced in the Persian Gulf to reach markets in Asia, Europe and the Americas, and its disruption, together with worries over power supply to smelters, has tightened availability. Primary aluminium output at Persian Gulf plants was reported about 35% lower year on year in April and at its lowest in more than a decade. The Persian Gulf and West Asia region accounts for roughly 9% of global primary aluminium production, a share that has gained strategic weight since Russian metal was pushed out of Western supply chains.
The Northern Miner · Jul 19, 2026
Urea Fertilizer Prices Jump amid Hormuz Crisis; Iran and Qatar Halt Ammonia Output
Disruption in the Strait of Hormuz, the route for about a quarter of global urea exports, has put the fertilizer market under pressure. According to World Bank data, the global fertilizer index has risen about 12% during the Hormuz crisis, and the bank projects urea prices will climb close to 60% in 2026. Urea topped $850 a tonne in April, up about 80% from February and the highest since April 2022. The surge stems from a halt to ammonia production in Iran and Qatar's suspension of urea, ammonia and sulfur output during the war, alongside higher natural-gas prices (the main feedstock for nitrogen fertilizers) and rising freight and insurance costs. Iran is itself a significant exporter of urea and petrochemicals, making this market important for its domestic industry.
World Bank · Jul 19, 2026
South Asia Gas Crunch; Pakistan Holds Two Emergency LNG Tenders in Two Weeks
The disruption to Qatar's gas exports caused by the Hormuz war has left South Asia short of supply. By July 18 (27 Tir 1405), Pakistan had held its second emergency spot-LNG tender in two weeks as Qatari cargoes were cut off again. Pakistan sources about 99% of its LNG imports from Qatar and the UAE, leaving it highly exposed. In response to the shortage, India has rationed gas to its industrial sector and Pakistan has activated an emergency gas-management plan that prioritizes household use and has suspended about 78 million cubic feet per day of gas to the fertilizer sector. Analysts warn that a prolonged crisis could deepen power cuts and cut industrial output across the region.
Dawn · Jul 19, 2026
QatarEnergy Extends LNG Force Majeure into a Fourth Month; 21 Cargoes Cancelled
QatarEnergy says the force majeure on its LNG exports has now stretched into a fourth month, leaving it unable to deliver cargoes due through early September. According to reports, the number of cancelled shipments between April and September has reached 21 (about 2.7 billion cubic meters of gas). The force majeure was first declared in early March 2026 after Iranian strikes on the Ras Laffan complex. Those strikes damaged two production trains (S4 and S6) and one of two gas-to-liquids units. Estimates suggest about 17% of Qatar's LNG capacity, close to 12.8 million tonnes a year out of a total 77 million, could stay offline for up to five years. Qatar is the world's largest LNG exporter, and the disruption is straining gas markets in Asia and Europe.
AGBI · Jul 19, 2026
IRGC says it stopped four vessels in the Strait of Hormuz
Iran's Islamic Revolutionary Guard Corps (IRGC) naval force said on Saturday, 18 July 2026, that it had stopped four vessels attempting to transit the Strait of Hormuz without authorization and despite warnings. According to the IRGC statement, the ships were halted during a naval operation, and one of them was a Thai-flagged merchant vessel. The IRGC did not disclose the ships' identity, ownership, or cargo. The interception comes amid weeks of tension over control of the Strait of Hormuz, the main export route for Persian Gulf oil, and could add further pressure on tanker traffic and global oil prices. The report is an official IRGC claim, and so far no further independent detail on the vessels' current status has been released.
Aaj News · Jul 19, 2026
Kuwait Petroleum Corporation says a key oil facility was hit by repeated Iranian attacks, with several staff injured
Kuwait Petroleum Corporation (KPC) said on Saturday, 18 July 2026, that one of the country's key oil-sector facilities was struck by repeated Iranian attacks, causing a fire, significant material losses and injuries to several staff. According to the statement, several firefighters and oil-sector workers were hurt while on duty and are receiving medical care; the site was evacuated and the incident is being handled in coordination with the relevant state agencies. Kuwaiti officials said the strike came in response to overnight U.S. attacks on Iranian facilities and as part of Iran's series of retaliatory strikes on targets in Persian Gulf states. Damage to Kuwait's oil infrastructure comes as the Strait of Hormuz crisis and the ongoing military tensions keep regional oil-supply risk and global energy prices under pressure.
Anadolu Agency · Jul 19, 2026
Analysts: Iran's gas fields and petrochemical industry are its most vulnerable economic link in the war
According to an analysis by Columbia University's Center on Global Energy Policy, Iran's oil sector can likely weather a temporary production shut-in, but its gas fields and petrochemical industry are the most vulnerable link in the country's economy during the current war. The shared South Pars field supplies roughly 70 to 75 percent of Iran's gas production and feeds much of the country's petrochemical and gasoline output. According to Argus, onshore processing facilities at South Pars and petrochemical complexes in the Asaluyeh area were damaged in air strikes this year, with estimates pointing to a fall of about 100,000 to 120,000 barrels a day in gas-condensate output. Petrochemicals are a pillar of Iran's non-oil exports and among the heaviest-weighted sectors on the Tehran Stock Exchange, so lasting damage to the gas and petrochemical chain could pressure both the country's foreign-currency earnings and the valuation of a large part of the bourse.
Columbia Center on Global Energy Policy · Jul 19, 2026
ANZ raises its 2026 Brent forecast to above 90 dollars a barrel
Australian bank ANZ has raised its forecast for the average 2026 price of Brent crude to above 90 dollars a barrel, citing the loss of roughly 10 million barrels a day of global supply because of the war and the continuing US naval blockade of the Strait of Hormuz. Brent rose above 87 dollars on Friday, July 17, its highest in a month, and gained more than 10 percent over the week. The naval blockade was reimposed on Tuesday, July 14, and commercial traffic through the Strait of Hormuz remains very limited. Any sustained jump in global oil prices has two opposing effects for Iran: it lifts the value of its oil exports, while also adding to domestic inflation by making fuel and imported goods more expensive.
OilPrice · Jul 19, 2026
US average gasoline price edges toward 4 dollars a gallon
According to data from AAA, the US national average price of regular gasoline reached 3.94 dollars a gallon as of July 16, 2026, up about 10 cents from the prior week and closing in on the 4 dollar mark. Most states still average below 4 dollars a gallon. AAA cited instability around the Strait of Hormuz as one of the main causes of the increase, a factor that has also lifted crude oil prices. Rising gasoline prices in the world's largest economy feed into inflation expectations and the path of Federal Reserve policy, and through that channel they indirectly matter for Iran's gold and currency markets as well.
AAA · Jul 19, 2026
Europe's diesel refining margins climb to their highest in years
According to Argus, diesel and gasoil refining margins in Europe have reached their highest in years, moving above roughly 60 dollars a barrel, prompting European refiners to shift their economics back toward producing road transport fuels. The main drivers are lower global supply of refined products, curbs on Russia's diesel exports and disruptions stemming from the Strait of Hormuz crisis. The average price of diesel across European Union countries in mid-July 2026 was around 1.75 euros per litre. The diesel shortage and costlier gasoil are an important global variable for the energy market and indirectly affect product prices and transport costs in import-dependent markets as well.
Argus Media · Jul 19, 2026
Suez Canal traffic rises as ships divert away from the Strait of Hormuz
The Suez Canal Authority projected that about 15,500 ships will transit the waterway this fiscal year, roughly 20 percent more than the 13,000 of a year earlier. The increase is largely a result of the Strait of Hormuz crisis; with traffic through Hormuz severely curtailed, part of the flow of energy cargoes and jet fuel has shifted to the Red Sea and Suez Canal route. The gradual return of ships to the Suez route, after a period in which insecurity around Bab al-Mandab had pushed many to sail around the Cape of Good Hope, shows global trade flows shifting away from the Persian Gulf. This rerouting raises the cost and time of moving goods to the region and is one of the crisis's indirect consequences for the economies of Iran and its neighbours.
Al Manassa · Jul 19, 2026
IATA: jet fuel surge to halve global airline industry profit in 2026
The International Air Transport Association (IATA) said regional disruptions and the surge in jet fuel prices will roughly halve the global airline industry's profit in 2026, cutting it from 45 billion dollars in 2025 to about 23 billion dollars, while the net profit margin falls from 4.2 percent to around 2 percent. Fuel's share of some carriers' operating costs has risen from about 25 to 30 percent to close to 45 percent. In response to this pressure, carriers such as Air France KLM have raised fuel surcharges on long-haul flights, with the charge exceeding 100 euros per ticket on some transatlantic routes. The root cause is the Strait of Hormuz crisis and the drop in refined-product supply, which has sharply lifted the global price of jet fuel.
IATA · Jul 19, 2026
Global diesel refining margins hit a record; US diesel tops $5 a gallon again
As Strait of Hormuz traffic slowed to a near halt during the Iran-US war, a shortage of refined products has pushed the global market toward a fuel crisis and lifted refiners' margins to record highs. According to CNN Business, the refining-margin gauge known as the 3-2-1 crack spread rose to about $70 a barrel on Thursday, July 16, 2026, a record, while US diesel topped $5 a gallon the same day for the first time in three weeks. The key point is that most of the jump in product prices came not from crude itself (which rose about 5 percent over the period) but from tight refining capacity and disrupted product flows through the Strait of Hormuz. Brent traded in a range of $85 to $88 a barrel during the week. For Iran the significance is twofold: Iran is itself an importer of gasoline and diesel, so war damage to refineries and costlier products make domestic supply harder, while the global product price also shapes fuel export and smuggling dynamics.
CNN Business · Jul 19, 2026
Persian Gulf tanker rates nearly double in a week; some supertankers' daily earnings approach $470,000
The renewed escalation between the US and Iran and the higher risk of transiting the Strait of Hormuz have sharply lifted crude-tanker freight rates in the Persian Gulf. According to shipping-market reports in the week ending July 17, 2026, the cost of hiring a tanker in the Gulf nearly doubled in just one week, from around $106,000 per day to more than $190,000. For some very large crude carriers (VLCCs) moving cargoes through the Strait of Hormuz, daily earnings have approached about $470,000. A steep drop in the number of ships willing to transit the region, together with surging war-risk insurance premiums, has tightened available shipping capacity. Higher freight costs raise the cost of exporting oil for Persian Gulf producers, including Iran, eating into part of the windfall from higher crude prices.
سیترید ماریتایم · Jul 19, 2026
Brent posts a third straight weekly gain, ending the week near $88 a barrel
Brent crude closed the week ending Friday, July 17, 2026, up nearly 12 percent, its third consecutive weekly gain, as the escalating US-Iran conflict and disrupted tanker traffic through the Strait of Hormuz pushed the global oil supply-risk premium higher. During Friday's session, Brent jumped about 4.5 percent from its prior close near $84 to around $88 a barrel. Global oil markets are shut on Saturday and Sunday, and traders are waiting for clarity on the Strait of Hormuz at the start of the coming week. For Iran's economy the surge cuts both ways: it lifts the dollar value of oil exports, while adding to domestic inflation by making global fuel and transport more expensive.
گلفتودی (رویترز) · Jul 19, 2026
With the Strait of Hormuz shut, Russia's oil revenue swells further from the Iran crisis
With the Strait of Hormuz shut and regional oil exports disrupted, Russia's Urals crude has become more attractive to buyers, boosting Moscow's oil revenue. The Bruegel think tank estimated that Russia's oil and gas revenues carried a windfall of about 1,184 billion rubles (close to 13.5 billion euros) tied to the Iran war over March to June 2026. That windfall had narrowed after the 14 June ceasefire memorandum and a temporary drop in prices, but with hostilities resuming in July and tanker transits through Hormuz halting again, analysts say the premium on Russian oil exports has widened once more. Russia is one of the alternative suppliers profiting from the Hormuz-driven rise in oil prices.
OilPrice · Jul 19, 2026
European natural gas jumps more than 29 percent in July; Goldman Sachs warns of a possible 130 percent surge
The price of Dutch TTF natural gas, Europe's benchmark, jumped amid the Strait of Hormuz crisis and Qatar's halt to its LNG output ramp-up, reaching around 54.5 euros per megawatt-hour, the highest in more than three months. Market data show the benchmark has risen more than 29 percent in July 2026, erasing a decline of over 14 percent in the spring quarter. Qatar, the region's largest LNG exporter, halted its production increase and suspended maritime activity after one of its tankers was attacked near Hormuz. Goldman Sachs commodity analysts warned that if LNG flows through the Strait of Hormuz were fully halted for a month, TTF could approach about 74 euros per megawatt-hour, roughly 130 percent above end-of-week levels. The channel to Iran is indirect: the same Hormuz disruption lifting European gas also chokes regional energy exports and hard-currency revenue.
Yahoo Finance · Jul 19, 2026
IEA: The Strait of Hormuz shock is the largest oil supply disruption in the history of the global market
The International Energy Agency (IEA) said in a fresh analysis that the disruption from the Strait of Hormuz crisis has become the largest oil supply loss in the history of the global market, exceeding both the 1973 oil embargo and the 1990 Persian Gulf War shock in combined volume and duration. According to the assessment, oil transiting the strait fell from about 20 million barrels a day before the war to an average of roughly 2.7 million barrels a day over March to May 2026, while cumulative supply losses from regional producers have passed 1.3 billion barrels. After hostilities resumed in July, tanker transits dropped below 10 percent of pre-war levels. The agency's head called it the greatest global energy security challenge in history. Before the crisis, the Strait of Hormuz carried about one-fifth of the world's oil and a large share of its LNG.
International Energy Agency · Jul 19, 2026
China's Iranian Oil Imports Fall to About 556,000 bpd in July, Lowest Since Early 2023
China's imports of Iranian crude oil have averaged about 556,000 barrels per day so far in July 2026, the lowest level since early 2023, according to data from analytics firm Kpler. The figure is a further drop from an average of roughly 654,000 bpd in June. China is the largest buyer of Iranian oil, so weaker Chinese purchases feed directly into Iran's export revenues. Beyond the Strait of Hormuz crisis and the halt of much tanker traffic, Kpler says subdued Chinese crude demand and narrowing sale discounts have also limited refiners' appetite to buy. Even so, Kpler expects China to remain Iran's principal oil customer. The figures reflect the month-to-date average as of the report and may change by month end.
Reuters · Jul 18, 2026
Egypt raised Suez Canal transit surcharges from 15 July as ships reroute away from Hormuz
Egypt's Suez Canal Authority raised transit surcharges from 15 July 2026 for most vessel types, including tankers, gas carriers, bulk carriers and container ships. The decision comes as canal traffic rises, with the Strait of Hormuz crisis steering some ships toward Egyptian-controlled waters. According to official data, Egypt's Suez Canal revenue reached about $419 million in April, roughly 27 percent higher than a year earlier and the highest monthly level since the start of 2024. The number of oil tankers transiting the canal in the early months of the year rose about 28 percent from the same period last year. The trend shows how the disruption in the Strait of Hormuz is reshaping global energy routes and the revenues of countries on alternative paths.
Maritime News · Jul 18, 2026
India's fuel exports hit a near 10-month high as refiners lean on Russian crude
India's exports of refined petroleum products reached a near 10-month high by mid-July 2026, as supply shortages caused by the Strait of Hormuz crisis lifted refiners' margins. Indian refiners imported about 2.6 million barrels a day of Russian crude this month, more than half of the country's total oil imports. At the same time, India's crude imports from West Asia fell in the second quarter to their lowest recorded level since 2013, according to Kpler vessel-tracking data. Indian refiners say they have secured enough crude for the next two months and are in no rush to resume West Asian purchases, even if transits through the Strait of Hormuz normalize. The shift matters for Iran, because India is one of Asia's key oil markets and the competition among sanctioned exporters such as Russia and Iran for Asian buyers is intensifying.
Business Today · Jul 18, 2026
Qatar halts its LNG output ramp-up as loaded cargoes pile up on tankers stranded in the Persian Gulf
The Hormuz disruption has also paralysed Qatar's LNG exports. After a projectile hit the gas tanker Al Rekayat on 7 July 2026, QatarEnergy paused plans to raise output at the Ras Laffan complex, kept operations at a minimum for safety, and cut the number of vessels scheduled to dock at the terminal. According to S&P Global data, the 10-day moving average of laden LNG cargoes transiting the Strait of Hormuz fell from about 0.8 per day in late June to roughly 0.2 per day by 15 July. Production and loading have continued, but with outbound shipping stalled, loaded cargoes are piling up on tankers: as of mid July about seven laden Qatari carriers holding some 0.57 million tonnes of LNG were waiting in the Persian Gulf. The relevance for Iran lies in the same waterway that carries its oil exports. About a fifth of the world's LNG passes through Hormuz and Qatar is one of the world's top three LNG exporters, so the disruption lifts global gas prices and deepens the energy squeeze.
Business Today · Jul 18, 2026
Saudi Arabia ramps up crude exports via the Red Sea port of Yanbu to bypass the Strait of Hormuz
To reduce its reliance on the Strait of Hormuz for oil exports, Saudi Arabia is moving rising volumes of crude through its East-West (Petroline) pipeline from the eastern Abqaiq fields to the Red Sea port of Yanbu, loading tankers there instead. Oil market reports in mid July 2026 put flows on this route at around 4 million barrels per day; the pipeline has a nameplate capacity of nearly 7 million barrels per day. The relevance for Iran lies in the same Hormuz chokepoint. The strait carries about a fifth of the world's oil and is the main route for Iran's own crude exports, and traffic through it has now fallen sharply. Persian Gulf producers can offset part of the global squeeze via alternatives such as the Red Sea, but tankers leaving Yanbu must still pass the Bab el-Mandeb Strait, which faces a Houthi threat. Iran has no comparable bypass, so the halt in Hormuz traffic weighs more heavily on its export revenue.
CNBC · Jul 18, 2026
IRGC says two oil tankers exploded after hitting mines south of Hormuz; CENTCOM rejects the claim
Iran's Revolutionary Guard (IRGC) said on Saturday, 18 July 2026, via state television that two oil tankers trying to cross a minefield south of the Strait of Hormuz through the "deception of American intelligence services" had exploded and caught fire. The Guard did not name the two tankers. In a separate statement the same day, the IRGC said four "violating" ships attempting to pass through the strait "with the support of the US military" had been "stopped in place" during a combined missile and drone operation. US Central Command (CENTCOM) rejected the claim in a brief message on X, writing: "Like most IRGC claims, this is false." The developments came as US strikes on Iran entered a seventh consecutive night, and independent confirmation of the tanker explosions was not available. The Strait of Hormuz is the main route for the region's oil exports and energy shipments, and continued insecurity there weighs on the global oil market and inflation expectations.
Arab News · Jul 18, 2026
Reuters Report: Iran Tells Houthis to Prepare to Close Bab el-Mandeb if US Strikes Its Power Grid
Reuters reported on Thursday, July 16, 2026, citing three sources, that Iran has instructed Yemen's Houthis to close the Bab el-Mandeb Strait at the southern end of the Red Sea to shipping if the United States attacks Iran's power network. According to the report, President Donald Trump had threatened in a July 14 interview to target Iran's electricity infrastructure. A source close to the Houthis said the group has positioned drones and missiles to potentially attack vessels in Bab el-Mandeb. Based on data from maritime-trade analytics firm Kpler, roughly 7 percent of global oil supply transited the strait in June, a route that has become an alternative corridor for the region's energy exports after disruption at the Strait of Hormuz, meaning its closure could add fresh pressure to the global oil market.
The Express Tribune (Reuters) · Jul 18, 2026
Global silver hits eight-month low as gold-to-silver ratio climbs near 72
Silver fell to about $55.80 an ounce in global trading on Friday, July 17, 2026, marking its lowest level in eight months. Silver is down more than 20% from a month ago. The drop came as global gold also stayed below $4,000 an ounce, but silver declined more sharply: the gold-to-silver ratio (the number of ounces of silver needed to equal the value of one ounce of gold) rose to about 72 on Friday, up from around 71.6 on Thursday. Analysts cite concerns that the Federal Reserve will keep interest rates elevated, along with the US-Iran war that has pushed up oil prices and inflation worries, as pressures weighing on precious metals.
Yahoo Finance · Jul 17, 2026
Brent holds above $85 on Friday; oil up over 11% for the week, its best week since late April
Oil prices rose on Friday, July 17, 2026 (26 Tir 1405), keeping Brent above $85 a barrel. September Brent futures gained about 0.9% to around $85, while U.S. West Texas Intermediate for August delivery added about 1% to roughly $79.7. Both benchmarks are up more than 11% for the week, their best weekly performance since late April. The main driver is the intensifying U.S.-Iran conflict and fears of disruption to oil flows through the Strait of Hormuz, where shipping traffic has fallen sharply since the escalation began. For Iran the rally cuts both ways: higher prices lift the value of oil exports, yet the U.S. naval blockade and the halt in loadings at the Kharg Island terminal limit its ability to fully capitalize on them.
CNBC · Jul 17, 2026
China's Crude Oil Imports Fell 41% in June to Lowest Since October 2016
China's crude oil imports fell about 41% year on year in June to 29.27 million tonnes, or nearly 7.12 million barrels per day, according to customs data released on Tuesday, July 14. That was the lowest level since October 2016 and roughly 12% below May, which had itself been the weakest reading in eight years. Analysts attribute the drop to the war in the Persian Gulf and the disruption to tanker traffic through the Strait of Hormuz, alongside a slowdown in China's domestic demand. Independent refiners in Shandong province have cut run rates and shifted toward buying crude from Persian Gulf producers. China is the largest buyer of Iranian oil, so a sharp fall in its imports can weigh on Iran's oil revenue and the domestic currency market.
OilPrice.com · Jul 17, 2026
IEA Warns the World Has Just Weeks to Reopen the Strait of Hormuz
Fatih Birol, executive director of the International Energy Agency, warned on Thursday, July 16, 2026 that the global economy will face renewed difficulty unless the Strait of Hormuz crisis is resolved within the next few weeks. He stressed that "it is not months, it is weeks" and said the waterway must be reopened "fully and unconditionally." Noting that roughly 20 percent of the world's oil and gas normally passes through the Strait of Hormuz, Birol said markets are nervous and grappling with "big uncertainty." Disruption to Persian Gulf energy and petrochemical feedstock shipments has already hit economies such as South Korea and Japan, he said, while countries like Bangladesh, Pakistan and India are far more vulnerable to a cutoff. The remarks came on the sixth day of the Iran-US military confrontation over control of Hormuz, as Brent crude steadied near 85 dollars after four days of gains.
Business Standard · Jul 16, 2026
IRGC threatens to halt the entire region's energy exports: oil and gas 'for everyone or for no one'
On Wednesday, July 15, 2026, after the United States reimposed its naval blockade of Iran and widened its air campaign, the Islamic Revolutionary Guard Corps warned it would halt the region's energy exports entirely. In its statement the Guard said that "the export of oil and gas from the region will be either for everyone or for no one." The threat points directly at the global oil and gas market, since a large share of the world's energy exports passes through the Persian Gulf and the Strait of Hormuz. Iran's own oil exports have fallen to less than a sixth of their pre-war level since the blockade began, and Tehran is now threatening to disrupt the exports of other regional producers as well. Against this backdrop, Brent crude rose for a fourth straight session to near 85 dollars a barrel, its highest in about a month. Further escalation raises the risk of an energy-price spike and renewed pressure on Iran's exchange rate and domestic inflation.
ITV News · Jul 16, 2026
India Bars Its Seafarers From Voyages Through the Strait of Hormuz
India's Directorate General of Shipping on Wednesday, July 15, ordered shipowners, ship managers and recruitment firms not to deploy any Indian seafarers on vessels whose routes pass through the Strait of Hormuz until further notice. The order states: "No deployment of Indian seafarers on vessels undertaking voyages involving passage through the Strait of Hormuz until further orders." The decision followed the deaths of two Indian seafarers in separate attacks on commercial vessels near the waterway over the past three days. India is the world's third-largest supplier of seafarers, with more than 300,000 sailors working across global fleets; over 15,000 of them are currently stranded west of the Strait of Hormuz. The Strait of Hormuz carries roughly 20 percent of the world's oil and gas, and a shortage of crews could add further pressure on tanker traffic and energy shipping costs, including Iran's oil exports.
Al-Monitor · Jul 16, 2026
Global wheat climbs to highest since late May; futures near $6.50 a bushel
Wheat futures rose to around $6.50 a bushel in mid-July 2026, their highest level since about May 20, as investors weighed geopolitical risks and their potential impact on global grain flows. Renewed US-Iran tensions and concerns over higher fertilizer and fuel costs following disruption in the Strait of Hormuz, along with a drone strike on the Sea of Azov route (which handles about a quarter of Russia's grain exports), were among the drivers. The US government also cut its 2026/27 wheat production forecast to 41.8 million tonnes, the lowest since 1970. Global wheat prices matter for Iran, a major wheat importer, in terms of food security and import costs.
Trading Economics · Jul 16, 2026
Global silver slips below $58; gold-to-silver ratio climbs to about 70
Spot silver fell about 1.5 percent in Wednesday, July 15, 2026 trade, sliding to near $57.68 an ounce, while gold held roughly steady near $4,060 an ounce. As silver's drop outpaced gold, the gold-to-silver ratio rose to about 70, its highest in recent weeks. The main drag on silver was persistently high oil prices amid US-Iran tensions and worries that inflation would linger, keeping the prospect of tighter Federal Reserve policy alive; higher interest rates weigh on non-yielding precious metals. Silver also matters for Iran's market: the global ounce feeds through to domestic silver and precious-metal prices, and several silver investment funds have launched on the Iran Mercantile Exchange in recent weeks.
Kitco · Jul 16, 2026
Hormuz Crisis Squeezes the Fertilizer and Petrochemical Chain; World Bank Warns of Urea Price Jump
The disruption at the Strait of Hormuz, which flared again this week with the escalation between the United States and Iran, is also keeping the global fertilizer market under pressure. Nitrogen fertilizers (urea), whose production depends on natural gas, have roughly doubled since the Hormuz disruption began in late February, and in April 2026 urea passed 850 dollars per tonne, the highest level since April 2022. Persian Gulf and West Asian countries supply close to one-quarter of the world's urea exports, and Hormuz is the main route for those shipments. During the war, Iran has halted its ammonia production, and Qatar has suspended production of urea, ammonia and sulfur after damage to facilities. The World Bank has warned that, if the Hormuz disruption persists, global fertilizer prices could rise by more than 30 percent in 2026. The relevance for Iran cuts both ways: Iran is a significant exporter of urea and petrochemical products, and the production halts and export disruption affect both the country's foreign-currency revenue and its listed petrochemical companies.
Fertilizer Daily · Jul 16, 2026
Hormuz Crisis Reaches the Gas Market: European Gas and Asian LNG Rise as Qatar Exports Are Disrupted
The US-Iran military confrontation and the slowing of traffic through the Strait of Hormuz spread to the global gas market this week. Europe's benchmark natural gas (the front-month Dutch TTF contract) rose about 3 percent in mid-July 2026 trading to near 50 euros per megawatt-hour, while Asia's JKM LNG benchmark climbed above 18.5 dollars per million BTU. The main driver is the disruption to Qatar's LNG exports. Qatar, alongside Australia and the United States one of the world's largest LNG exporters, ships almost all of its cargoes through the Strait of Hormuz. About one-fifth of the world's LNG passes through the strait, and Europe sources roughly 12 to 14 percent of its LNG from Qatar. Qatar had already curbed part of its maritime activity after a projectile struck one of its LNG carriers, the Al Rekayat, on 7 July. The relevance for Iran lies in that same chokepoint: the Strait of Hormuz, which also carries Iran's oil exports, is now throttling Persian Gulf energy flows, and the surge in global energy prices feeds through to Iran's economy and domestic markets.
OilPrice · Jul 16, 2026
Naval blockade halts oil loadings at Kharg for the first prolonged stretch since the war began
According to Bloomberg, the US naval blockade of Iranian ports, reimposed this week, has halted crude oil loadings at the Kharg Island terminal for the first prolonged stretch since the war began. Kharg accounts for roughly 90 percent of Iran's crude exports, and the loading halt has put the terminal's storage capacity under pressure. Tanker-tracking data show Iran's oil storage levels are rising, though some energy analysts say production shut-ins are not necessarily imminent. Control of the Strait of Hormuz, through which about a fifth of the world's oil and gas supply passed before the war, has become the central point of contention between Iran and the United States and has weighed on global oil prices.
Bloomberg · Jul 16, 2026
Brent holds near $85 for a fourth session, at a one-month high as the Hormuz crisis deepens
Oil prices held at elevated levels in Thursday, July 16, 2026 trading, staying near a one-month high for a fourth straight session of gains. During the day's Asian session, Brent crude traded around $85 a barrel and US West Texas Intermediate around $80. The main drivers are the resumed naval blockade of Iran's ports, continued US strikes, and the IRGC's threat to cut off the region's energy exports, which has revived fears of supply disruption through the Strait of Hormuz. Reports put Brent more than 15% above its level before the renewed blockade began. Higher global oil prices also feed indirectly into Iran's gold and currency markets.
Yahoo Finance · Jul 16, 2026
Trump threatens US may seize Kharg Island, the terminal handling about 90% of Iran's oil exports
US President Donald Trump has again raised the prospect of seizing Kharg Island, Iran's main crude oil export terminal in the Persian Gulf, saying the United States may take control of it, as tensions with Tehran escalate. His remarks came alongside the reimposed naval blockade of Iran's ports and continued US strikes as of Wednesday, July 15, 2026. Kharg is the principal chokepoint for Iran's oil exports, with media reports estimating that about 90% of the country's crude is loaded there, so any threat against it bears directly on Iran's foreign-currency revenue and the oil market. No strike on Kharg's energy infrastructure has been reported so far, but US officials say the option remains on the table. Rising concern over Kharg and the Strait of Hormuz kept global oil prices near a one-month high through Thursday, July 16.
Al Jazeera · Jul 16, 2026
US disables first tanker under Iran port blockade; 'Belma' hit en route to Kharg Island
US Central Command (CENTCOM) said on Wednesday, July 15, 2026 that it had disabled a Curacao-flagged commercial tanker named Belma that was transiting international waters of the Persian Gulf toward Kharg Island, Iran's main oil export terminal. According to CENTCOM, the vessel ignored repeated warnings while attempting to violate the naval blockade; a US aircraft fired a missile into the ship's smokestack to disable it. It is the first vessel disabled since the blockade of Iran's ports was reimposed on Tuesday. CENTCOM said that in the first 24 hours of enforcement it redirected two compliant commercial vessels and disabled one non-compliant vessel. The move sharpens enforcement of a blockade aimed directly at Iran's oil export lifeline and could feed into global oil prices and the domestic currency market.
Stars and Stripes · Jul 16, 2026
US turns back two commercial vessels in first enforcement of Iran blockade near Hormuz
The US Central Command (CENTCOM) said that in the first enforcement action of its reinstated naval blockade, it "redirected" two commercial vessels attempting to run the blockade of Iranian ports within roughly the first 17 hours after the measure took effect on Tuesday, July 14, 2026. The renewed blockade marks the effective end of the June 17 memorandum of understanding between Tehran and Washington. According to tanker-tracking firm TankerTrackers, Iran used its shadow fleet to export about 50 million barrels of crude in June and around 10 million barrels in a single day last week. Washington's earlier blockade, from mid-April to mid-June, curbed much, though not all, of Iran's oil exports through the Strait of Hormuz. Alongside the continued strikes, the developments pushed oil higher for a third straight session, with Brent trading around 85 dollars a barrel on Wednesday, July 15.
Fortune · Jul 15, 2026
Oman proposes managing Strait of Hormuz traffic through two separate corridors; Washington warns of sanctioning Muscat
According to CNN, citing a source familiar with the matter, Oman has proposed a plan to manage shipping traffic through the Strait of Hormuz via two separately controlled corridors: a southern corridor in Omani waters where vessels would sail freely under pre-war conditions, and a northern corridor in Iranian waters where ships would need Tehran's permission to pass. At the same time, US Treasury Secretary Scott Bessent warned that Washington would aggressively sanction Oman if Muscat facilitated any Iranian transit-fee mechanism. The diplomacy is unfolding amid continuing US strikes on Iran and a naval blockade of Iranian ports, along a waterway through which about one fifth of the world's energy supply passes.
سیانان / CNN · Jul 15, 2026
US Treasury hits Shamkhani oil and shipping network with sweeping sanctions; over 50 individuals, firms and vessels
On Tuesday, July 14, 2026, the US Treasury imposed fresh sanctions on a network tied to Iranian oil trader Mohammad Hossein Shamkhani, adding more than 50 individuals, companies and vessels to its blacklist. Treasury said the number of designated people and entities in the network has now passed 200, calling it one of its largest sanctions packages targeting Iran's oil-shipping sector in recent years. According to Treasury, the network used shell companies and foreign passports to conceal sales of sanctioned Iranian oil. Treasury Secretary Scott Bessent also said the department froze $130 million held in digital wallets linked to Iran's central bank. The move followed the collapse of an interim truce between Tehran and Washington and the resumption of the naval blockade of Iranian ports.
وزارت خزانهداری آمریکا / U.S. Department of the Treasury · Jul 15, 2026
Revolutionary Guard threatens to halt the region's oil and gas exports; reports of at least 7 troops killed in Wednesday's strikes
The Associated Press reported on Wednesday, July 15, 2026 that Iran's Islamic Revolutionary Guard Corps threatened to halt energy exports from the region in response to the US naval blockade. The Guard's statement said: the export of oil and gas from the region will be either for everyone or for no one. The threat came after the US reimposed its naval blockade of Iran on Wednesday and intensified its air campaign. According to the AP, citing Iranian officials, the US strikes hit an Iranian army barracks, killing at least 7 troops and wounding more than 260 people across the country. The Strait of Hormuz and the region's waterways carry a large share of the world's oil, and such threats raise risk in global energy markets.
The Washington Times (AP) · Jul 15, 2026
US Central Command strikes Iran for a fifth straight day; coastal defense and missile sites on Greater Tunb Island hit
US Central Command (CENTCOM) said on Wednesday, July 15, 2026 that in a 90 minute wave beginning in the early morning US Eastern time it struck coastal defense systems and cruise missile storage and launch sites on Greater Tunb Island. CENTCOM said the operation marked the fifth consecutive day of US strikes against Iran and was aimed at degrading Iran's ability to attack commercial ships in the Strait of Hormuz. The strikes followed Iranian operations on Tuesday against US allies and installations in the region, including in Kuwait, Bahrain and Jordan. The Strait of Hormuz carries a large share of the world's oil, so escalation there feeds global oil prices and, indirectly, Iran's currency and gold markets.
U.S. Central Command (DVIDS) · Jul 15, 2026
Iran's parliament tables 'Strategic Action Plan' bill to secure and control the Strait of Hormuz and Persian Gulf
Ebrahim Azizi, head of the Iranian parliament's National Security and Foreign Policy Committee, said on Tuesday, July 14, in a post on X that a bill titled the "Strategic Action Plan for Ensuring Security and Sustainable Development of the Strait of Hormuz and the Persian Gulf" had been formally introduced and received in an open session of parliament. He said the bill's introduction coincided with the downing of several US drones in the region. Azizi stressed that Iran remains committed to defending its "red lines," particularly on managing the Strait of Hormuz, through which roughly one-fifth of the world's oil supply passes. The legislative move comes amid the deepening Strait of Hormuz crisis and the naval blockade of Iranian ports, and could bear on the outlook for oil supply and energy markets. Formally receiving a bill is the first procedural step of parliamentary review and does not mean final approval.
Press TV · Jul 15, 2026
European natural gas hits three-month high near €53 as Hormuz crisis deepens
European natural gas (the Dutch TTF futures contract) rose about 3% to near €53 per megawatt-hour on Tuesday, July 14, 2026, climbing to its highest level in more than three months and extending Monday's rally. The main driver is Donald Trump's decision to resume the blockade of Iran's ports and the tension in the Strait of Hormuz. LNG exports from West Asia, which had only recently begun to recover after the interim Iran-US agreement in June, have stalled again with the renewed hostilities, heightening concerns over disruptions to Qatar's shipments. Europe is entering the season of refilling gas storage for winter and is therefore sensitive to a cut in the region's exports. For Iran, holder of one of the world's largest gas reserves, swings in global energy markets are an important gauge of the sanctions and demand backdrop.
Yahoo Finance · Jul 14, 2026
Trump backs off 20% Strait of Hormuz toll, opts for Persian Gulf states' trade and investment deals
US President Donald Trump on Tuesday, July 14, 2026, backed off his plan to charge a "20% fee" on the cargo of every ship passing through the Strait of Hormuz, a plan he had announced just one day earlier, on Monday, July 13. In a statement he said that based on "highly productive conversations" with regional and Persian Gulf leaders he had decided to replace the fee with "trade and investment deals" those states would make in the United States. Trump did not specify a dollar amount or name the countries involved. Trump nonetheless said the naval blockade of Iran's ports remains in place. The International Maritime Organization had earlier said there is "no legal basis" for mandatory tolls on natural waterways. Before the recent tensions the Strait of Hormuz carried about 20 percent of the world's oil and gas, and any development there feeds directly into oil prices and Iran's currency and gold markets.
NPR · Jul 14, 2026
Global silver climbs about 3 percent toward $59 after soft US inflation data
Spot silver rose about 3 percent on Tuesday, July 14, 2026, climbing toward $59 an ounce, a rebound after the previous day's sharp fall. The main driver was the softer-than-expected US June inflation report and reduced expectations of a Federal Reserve rate hike, which weakened the dollar and supported precious metals. Silver rose alongside gold, the same channel whose effect feeds through to Iran's domestic gold and coin market.
Kitco · Jul 14, 2026
China Calls for Early Restoration of Free and Safe Passage Through the Strait of Hormuz
Chinese Foreign Ministry spokesperson Lin Jian said on Monday (13 July 2026) at a Beijing briefing that an early resumption of free and safe passage through the Strait of Hormuz serves the interests of all sides, and that China stands ready to keep communicating with relevant countries and the international community on the matter. The remarks followed US President Donald Trump's reinstatement of a naval blockade on Iranian ships in the Strait of Hormuz and a 20 percent fee imposed on other cargo, as the United States and Iran exchanged strikes for a third consecutive day. China is the largest buyer of Iranian crude and a major consumer of oil shipped through the Strait of Hormuz, a waterway that carries roughly a quarter of the world's seaborne oil trade. Reduced transit and higher risk in the strait bear directly on Iran's oil export flows and on global energy prices.
Bloomberg · Jul 14, 2026
UN shipping agency calls Trump's 20 percent Strait of Hormuz toll plan without legal basis
The International Maritime Organization (IMO), the United Nations' maritime body, rejected the US administration's plan to charge a 20 percent toll on cargo passing through the Strait of Hormuz. Its secretary-general, Arsenio Dominguez, said on Monday, July 13, 2026, that there is no legal basis to impose mandatory tolls simply to transit a strait, and that the organization's stance against charging for passage through waterways used for international navigation has not changed. The IMO's position rests on the Law of the Sea Convention, which grants a right of transit passage through international straits and bars the levying of tolls. The reaction followed US President Donald Trump's demand for payment equal to 20 percent of the value of cargo crossing the Strait of Hormuz in exchange for providing security. The Strait of Hormuz is the main route for Persian Gulf oil exports.
CNBC · Jul 14, 2026
Global Gold Climbs Back Above $4,000 After Soft US Inflation Data
Spot gold climbed back above $4,000 an ounce on Tuesday, July 14, after three straight sessions of declines. The rebound followed the release of June US inflation data that came in softer than expected, easing some concern about a Federal Reserve rate hike. According to Sahmino data, gold traded near $4,076 an ounce during Tehran afternoon hours, up about 1.9% from the previous day. On Monday, gold had slipped below $4,000 to its lowest level since July 1. A softer dollar and higher oil prices also supported the metal. Swings in the global ounce, together with a weaker rial, are the main drivers of gold and coin prices in Iran's domestic market.
Invezz · Jul 14, 2026
Brent Crude Hits One Month High, Up Over 4 Percent After Trump's 20 Percent Strait of Hormuz Toll Plan
Brent crude oil jumped more than 4 percent on Tuesday, July 14, 2026, reaching about $86.9 a barrel, its highest level in a month. West Texas Intermediate (WTI) also rose about 2.8 percent to near $80.4 a barrel. The main driver was Donald Trump's announcement of a 20 percent toll on all cargo passing through the Strait of Hormuz and the reinstatement of a naval blockade of Iranian ports. Estimates put the toll at roughly $32 million for a supertanker, far above the previous charge of up to $2 million. Fears of a supply disruption intensified after Hormuz transits fell to 57 from Friday through Sunday, a drop of more than 50 percent versus the prior week. The Strait of Hormuz is the main export route for Iranian and Persian Gulf oil, and swings in global crude prices feed directly into Iran's foreign-currency earnings and domestic markets.
Al Jazeera · Jul 14, 2026
Bloomberg: Iran exported about 57 million barrels of crude between two US blockades
Bloomberg reported on Monday, July 13, 2026 (22 Tir 1405) that Iran exported at least 57 million barrels of crude oil during the gap between two rounds of US naval blockade, about 2.2 million barrels a day, a flow that helped keep global oil prices in check for a time. The estimate landed the same day US President Donald Trump said Washington would restore its blockade of ships entering and leaving Iranian ports and impose a 20 percent charge on other cargoes passing through the Strait of Hormuz. The move came less than a month after an interim deal between the two countries to ease restrictions and lift sanctions on oil sales. Reinstating the blockade puts Iran's oil exports and foreign-currency revenue back under pressure, after earlier reports that a portion of Iran's unsold cargoes had been left idling in Asian waters.
Bloomberg · Jul 14, 2026
OPEC cuts 2026 oil demand growth forecast for a third straight month, to 800,000 bpd
In its monthly oil market report published on Monday, July 13, OPEC lowered its 2026 global oil demand growth forecast for a third consecutive month, to about 800,000 barrels per day. The report attributed the bulk of that growth, roughly 740,000 barrels per day, to non-OECD countries. OPEC also put 2027 demand growth at 1.94 million barrels per day. OPEC+ crude output rose by about 3 million barrels per day in June to average 36.28 million barrels per day. OPEC's demand outlook and supply policy carry direct significance for the oil-reliant economy of Iran, a member of the organization.
Zawya · Jul 14, 2026
War-risk insurance for ships in the Strait of Hormuz jumps to around 5% of vessel value
War-risk insurance costs for ships transiting the Strait of Hormuz have surged as the US-Iran conflict escalates. According to insurance-industry reports in the days leading up to July 14, 2026, war-risk rates for vessels operating inside the Gulf have risen to roughly 3% of a vessel's value, up from about 2% late last week, while hull war-risk premiums for a Hormuz transit have climbed to around 5% of vessel value, emerging as the market's new norm. The US Navy-led Joint Maritime Information Center (JMIC) raised its advisory for transiting Hormuz to the highest 'severe' level. War-risk cover is typically sold on a seven-day basis and repriced every 24 to 48 hours, so even small shifts at these levels add hundreds of thousands of dollars in daily costs for large tankers. Some insurers have advised owners to pause voyages, and ship traffic has declined.
Business Insurance · Jul 14, 2026
Brent rises 2% to $85 on Tuesday as US-Iran strikes enter a third night and Hormuz traffic falls
Crude oil rose further on Tuesday, July 14, 2026, as tensions between the United States and Iran escalated. Brent gained about 2% to $85 a barrel and West Texas Intermediate (WTI) rose 2.3% to $80, extending Monday's near 9% jump, which was Brent's biggest single-day gain since 2020. US forces struck Iranian military targets, coastal air-defense systems and missile and drone capabilities for a third consecutive night in a roughly five-hour mission. Ship-tracking data showed confirmed crossings of the Strait of Hormuz fell about 52% week on week over July 10 to 12 as vessels shifted to more defensive routing. The strait carries roughly one fifth of the world's oil and gas trade, so disruptions feed directly into global prices and inflation expectations.
CNBC · Jul 14, 2026
UAE Defense Ministry: two of its tankers hit by missiles in Strait of Hormuz, one crew member killed
The Ministry of Defense of the United Arab Emirates said on Monday, July 13, 2026 that two of its national tankers, the Mombasa and Al Bahiyah, were struck by two Iranian cruise missiles while transiting the southern lane of the Strait of Hormuz in Omani territorial waters. According to the statement, one crew member (an Indian national) was killed and several others were wounded, while both vessels were damaged and caught fire before the blazes were brought under control. The UAE condemned the attack and said it reserves its full right to respond to the escalation. Iran had not commented on the attack by the time of publication. The incident is part of the wider Strait of Hormuz crisis, a waterway that carries roughly one-fifth of global oil trade, where any disruption feeds directly into world oil prices and regional exports.
CNN · Jul 14, 2026
Global gold falls for a second straight day; silver drops more than 4%
The global spot gold price fell for a second straight day on Monday, July 13, 2026, dropping more than 2% to around $4,020 an ounce. The decline deepened in later trade, with the metal sliding to about $3,990 (down more than 3% from the previous day). Silver fell alongside gold, losing more than 4% to below $58 an ounce. Escalating US-Iran military tensions and rising inflation concerns, together with a stronger dollar and higher odds of a September Federal Reserve rate hike (markets now price the chance near 70%), have intensified selling pressure on the non-yielding precious metals. In Iran's domestic market, despite the drop in the global ounce, 18-carat gold held near 17,682,000 tomans per gram, little changed, supported by the weaker rial.
Yahoo Finance · Jul 13, 2026
Iranian oil piles up at sea as China's independent refiners turn to regional rivals
According to Reuters, the volume of Iranian oil sitting at sea has risen after Tehran boosted exports during the interim ceasefire, but sales have slowed as China's independent teapot refiners shifted to cheaper crude from Iraq, the UAE and Qatar. China's imports of Iranian oil fell this month to about 556,000 barrels per day, the lowest since January 2023. Vortexa estimates roughly 30 million barrels of Iranian oil were loaded between 15 June and 6 July, equivalent to about 1.35 million barrels per day. Non-Iranian cargoes were offered at discounts of 5 to 8 dollars a barrel to Brent for August and September delivery, while Iranian Light's discount held around 2 to 3 dollars. Traffic through the Strait of Hormuz slowed again this week amid the exchange of US-Iran strikes.
Arab News (Reuters) · Jul 13, 2026
Trump reinstates naval blockade of Iranian ships in Strait of Hormuz; 20% charge on other cargoes
On Monday, 13 July 2026, Donald Trump said the United States is reinstating its naval blockade of Iranian ships in the Strait of Hormuz, weeks after last month's ceasefire memorandum between Washington and Tehran collapsed. Trump also demanded a 20 percent reimbursement on the value of all other cargo passing through the waterway. Under the plan, Iranian ships and buyers of Iranian oil would be barred from entering or leaving, while other countries would retain free use of the strait. Lifting the blockade had been part of last month's war-ending agreement, which has now stalled largely over control of the Strait of Hormuz. Amid the tensions, Brent crude rose more than 3 percent on Monday, moving past 78 dollars a barrel.
Forbes · Jul 13, 2026
IEA: return of oil flows through the Strait of Hormuz lifted global supply by 4.1 million barrels a day in June
In its monthly Oil Market Report published this week, the International Energy Agency (IEA) said global oil supply jumped by 4.1 million barrels a day in June to 98.8 million barrels a day, driven mainly by the resumption of oil flows through the Strait of Hormuz after the interim US-Iran ceasefire. Even so, world output remains about 9.4 million barrels a day below pre-war levels. According to the report, total Persian Gulf oil exports rose by 6.5 million barrels a day in June to 16.1 million barrels a day, still far below the pre-war average of about 24 million barrels a day. The agency warned that the escalation in fighting on July 7 and 8 clouds the outlook and could upend its forecast of the market flipping to a surplus in 2027. Global oil demand is projected to fall by about 1 million barrels a day across 2026 and to rise by about 2 million barrels a day in 2027.
International Energy Agency · Jul 13, 2026
Tankers cross the Strait of Hormuz in secret; only 6 ships passed on Sunday with transponders off
According to preliminary data from ship-tracking firm Kpler, published by Bloomberg, only 6 vessels transited the Strait of Hormuz on Sunday, July 12, 2026, the lowest number in five weeks and far below the normal daily average of 18 to 22 ships. All six crossed with their position transponders switched off, in so-called dark crossings, and over the past three days hidden passages have outnumbered observable ones. Among the ships that exited the strait were a very large crude carrier named Humanity, reported to be carrying about 2 million barrels of Iranian oil, and another tanker, Capetan Andreas, with about 500,000 barrels of Kuwaiti oil products. The figures come as Washington and Tehran dispute whether the Strait of Hormuz is open or closed; the sharp drop in observable traffic shows commercial shipping is moving cautiously and covertly through this vital waterway.
Bloomberg · Jul 13, 2026
Supertanker rates from the Persian Gulf hit records; daily earnings top 400,000 dollars
Rates for very large crude carriers (VLCCs) on the Persian Gulf to East Asia route hit their highest levels on record this week. According to shipping-market reports, daily earnings on the Persian Gulf to China route topped 400,000 dollars, peaking at about 424,000 dollars a day; for some cargoes transiting the Strait of Hormuz, daily earnings were reported near 470,000 dollars. The surge is driven by the Strait of Hormuz crisis and the withdrawal of war-risk insurers, which has upended the economics of moving crude. The jump raises the cost of delivering Persian Gulf oil to Asian markets and feeds into the final price of imported oil for consuming countries.
OilPrice · Jul 13, 2026
European natural gas jumps on Hormuz crisis; Dutch contract tops 50 euros
Natural gas prices in Europe rose on Monday, 13 July 2026, as the Strait of Hormuz crisis intensified. The Dutch TTF front-month contract, Europe's main benchmark, gained about 3.5 percent to roughly 50.4 euros per megawatt-hour, again crossing the 50-euro mark. The move was driven by Iran's declaration that the Strait of Hormuz was closed and Qatar's halt to maritime activity after attacks on tankers. Hormuz carries about one-fifth of the world's liquefied natural gas (LNG) trade, including the bulk of Qatar's exports. Goldman Sachs analysts have estimated that a full disruption could push European gas prices up by around 130 percent. The development matters for Iran's economy through the energy market and global oil prices.
Anadolu Agency · Jul 13, 2026
Global platinum nears lowest since November 2025; palladium also falls
On Monday, July 13, 2026, global platinum fell about 0.5% to around $1,621 an ounce, near its lowest level since November 2025. Platinum futures traded near $1,630. Palladium held above $1,240 an ounce, close to its lowest level since early October. The pressure on both metals was part of a broad weakening across precious metals that day, driven by a jump in oil prices amid US-Iran tensions and a firmer dollar.
Trading Economics · Jul 13, 2026
Global silver drops below $59, down about 1.7% on Monday
Global silver fell below the $59 an ounce mark on Monday, July 13, 2026. Spot silver traded in a range of roughly $58.5 to $59 an ounce, down about 1.7% from the previous day. The decline was part of a broader weakening across precious metals that day. A jump in oil prices following the escalation of military tensions between the United States and Iran fuelled worries about inflation and the prospect of interest rates staying higher for longer which, along with a firmer dollar, pressured both gold and silver. Silver also matters for the Iranian market: subscription to the country's first silver investment fund, trading under the symbol Neqrat, opened on the same day, Monday, July 13.
Fortune · Jul 13, 2026
Subscription for the "Naqrat" silver fund opens Monday, July 13; minimum entry 100,000 tomans
Subscription for the exchange-traded silver fund "Naqrat" (from the Agah group) opened on Monday, July 13, 2026 (22 Tir) and runs through Wednesday, July 15 (24 Tir). Investors can take part through the trading platforms of all brokerages with a minimum of 100,000 tomans. The fund invests at least 70 percent of its assets in silver bullion deposit certificates and is the latest in a wave of silver funds launched on the Iran Mercantile Exchange; the "Plata" fund was subscribed earlier on Saturday, July 11 (20 Tir). Demand for these funds is building as global silver prices swung, trading around $59 an ounce on Monday, July 13.
روزنامه دنیای اقتصاد · Jul 13, 2026
Steel leads Iran Mercantile Exchange trade; steel ingot turnover tops 13 trillion tomans
According to Iran Mercantile Exchange trading data for the 6 to 19 Tir 1405 period, steel ingot, rebar and copper were the three products with the highest transaction value in the physical market, while cement, steel ingot and iron ore concentrate led by traded volume. Steel ingot turnover reached about 13,908 billion tomans in the period, making it the most valuable product in the exchange's physical market.
روزنامه تعادل · Jul 13, 2026
Copper slips toward a two-week low
Copper fell to about 6 dollars per pound (near 13,100 dollars a tonne) on Friday, 10 July, its lowest in two weeks. A stronger dollar and concern over demand in China, the world's largest copper consumer at more than half of global usage, drove the decline. Copper is a base metal that influences the steel and construction industries.
Trading Economics · Jul 13, 2026
Soybeans rise 1.5 percent to about 11.97 dollars a bushel in Chicago
Soybean futures rose 1.5 percent to about 11.97 dollars per bushel on the Chicago Board of Trade on Friday, 10 July. December-delivery corn traded around 4.61 dollars a bushel. USDA crop reports, weather in the US Midwest growing regions and trade developments with China were cited as key drivers.
Trading Economics · Jul 13, 2026
US natural gas falls over 6 percent to a six-week low
US Henry Hub natural gas fell more than 6 percent to 3.01 dollars per million Btu on Thursday, 9 July, its lowest in six weeks. Freeport LNG said maintenance at its pre-treatment and liquefaction facilities would begin on 10 July and run through late August; the resulting drop in demand from the export plant weighed on prices.
Trading Economics · Jul 13, 2026
Cocoa drops over 6 percent to about 6,065 dollars a tonne
Cocoa fell 6.04 percent from the prior day to about 6,065 dollars per tonne on Saturday, 11 July. The market has seen sharp swings in recent months, driven by supply volatility in West African producing countries and shifting demand from processors.
Trading Economics · Jul 13, 2026
Arabica coffee retreats about 8 percent from a five-month high
Arabica coffee futures fell 3.92 percent to about 334.25 cents per pound on Friday, 10 July. The pullback followed a rally to a five-month high near 3.50 dollars on 6 July, bringing the total decline from that peak to roughly 8 percent. Profit-taking was cited as the main driver of the retreat.
Trading Economics · Jul 13, 2026
Maritime Information Center keeps Strait of Hormuz threat at its highest 'severe' level, warns of mines and vessel stops
The US Navy-led Joint Maritime Information Center (JMIC) kept the Strait of Hormuz security threat at "severe," its highest category, in its latest advisory on Sunday, 12 July 2026, after earlier lifting it from the "substantial" level. It cited the likelihood of "deliberate hostile action" under current conditions. The advisory pointed to the IRGC Navy hailing and stopping merchant vessels, interference with navigation, and mine hazards near the strait's traffic separation scheme, and told mariners to expect radio contact from naval forces. The warning came even as CENTCOM and the same center had earlier stressed that the strait's southern route remained open to traffic despite Iran's declared "closure." The Strait of Hormuz carries about 20 percent of the world's oil and gas, so an elevated security risk keeps ships' war-risk premiums and the oil price risk premium high, a channel that feeds through global crude prices and inflation expectations into Iran's currency and gold markets.
gCaptain · Jul 13, 2026
China's crude oil imports fell in June to their lowest since October 2016, at about 6.4 million b/d
Based on preliminary estimates from tanker-tracking firms Kpler and Vortexa, China's seaborne crude oil imports averaged about 6.4 million barrels per day in June 2026, the lowest level since October 2016 and roughly 8% below May. May imports had been reported at about 7.8 million b/d (nearly 33 million tons), the lowest since October 2017. The world's largest oil importer has cut purchases by about 4 million b/d below usual levels since the Iran war began in late February. China has managed the shortfall by reducing refined-product exports, cutting refinery run rates, and drawing down its commercial crude stockpiles. The drop in Chinese import demand has been one of the factors helping keep global supply and demand balanced and oil prices below $100. Chinese customs data has confirmed the May figures, while the June figure remains preliminary.
OilPrice.com · Jul 13, 2026
OPEC cuts its 2026 global oil demand growth forecast for a second straight month to 970,000 b/d
In its July 2026 Monthly Oil Market Report, OPEC cut its forecast for 2026 global oil demand growth to about 970,000 barrels per day, down from a previous estimate of 1.17 million b/d and the second consecutive monthly downgrade. OPEC attributed part of the cut to a 60,000 b/d reduction in India's demand growth and a roughly 40,000 b/d fall in West Asia consumption. The report estimates that West Asia oil demand in March, the first month of the Iran war, was about 500,000 b/d lower than a year earlier. For 2027, however, OPEC is more optimistic, projecting demand growth of about 1.7 million b/d, an upward revision of roughly 0.2 million b/d from the previous month, driven mainly by China and India.
Argus Media · Jul 13, 2026
Brent crude jumps more than 3% past $78 on Monday as Strait of Hormuz tensions escalate
Brent crude jumped more than 3% past $78 a barrel on Monday, July 13, 2026, reaching about $78.8, a gain of nearly 3.7% from the previous day that snapped a two-day losing streak. The move was attributed to renewed escalation between Iran and the United States and an exchange of strikes around the Strait of Hormuz. About one-fifth of the world's traded oil passes through the Strait of Hormuz, and vessel-tracking data show large-ship traffic on the southern lane has effectively halted since the middle of last week. Despite Monday's jump, Brent is still down about 5.3% over the past month and up roughly 14% from a year ago. Swings in the global oil price reach Iran's markets through two channels: government oil revenue and exchange-rate expectations.
Trading Economics · Jul 13, 2026
US-led maritime center: southern route of Strait of Hormuz stays open despite Iran's closure announcement
The U.S.-led Joint Maritime Information Center (JMIC) said on Sunday, July 12, 2026, that despite the Revolutionary Guards' announcement that the Strait of Hormuz was closed, the strait's southern route along the Omani coast remains open and has been expanded to handle two-way vessel traffic. The same advisory kept the maritime security threat level in the strait at "severe". U.S. Naval Forces Central Command (NAVCENT) said the Strait of Hormuz is an international waterway not subject to the control of any single nation, and that U.S. forces are prepared to preserve freedom of navigation. Under an earlier memorandum between Washington and Tehran, two transit corridors had emerged: a northern route controlled by Iran and a southern route along the Omani coast where the U.S. provides navigation support. Around 20 percent of the world's oil and gas passes through the Strait of Hormuz, so keeping it open matters for the region's energy exports and, through them, for Iran's currency and gold markets.
Xinhua · Jul 12, 2026
US revokes temporary waiver for Iranian oil sales; transactions must wind down by July 17
The US Treasury's Office of Foreign Assets Control (OFAC) on July 7, 2026 revoked Iran-related General License X (GL X) and issued General License X1 to wind down the previously authorized transactions. GL X, issued temporarily on June 22, had briefly authorized transactions involving Iranian-origin crude oil, petroleum products, and petrochemicals, one of Washington's rarest sanctions relaxations in decades. Under the new license, no new transactions involving the production, sale, delivery, or offloading of Iranian oil and petroleum products may occur on or after July 7, and all activity previously authorized must be wound down by 12:01 a.m. EDT on July 17. The move followed the renewed tensions and reciprocal strikes around the Strait of Hormuz, closing the brief legal channel for selling Iranian oil on the global market.
Foley & Lardner · Jul 12, 2026
Araghchi and Oman's foreign minister discuss safe passage mechanisms for the Strait of Hormuz; agree to continue talks
Iranian Foreign Minister Abbas Araghchi met his Omani counterpart Sayyid Badr al-Busaidi in Muscat on Saturday, July 11, 2026, and the two sides discussed appropriate mechanisms to ensure the safe passage of ships through the Strait of Hormuz. According to reports, the two ministers agreed to continue technical and political talks over navigation in the strategic waterway. The meeting took place after the United States had demanded that Iran publicly declare the Strait of Hormuz open to shipping. The Strait of Hormuz carries about one fifth of the world's oil and gas, and tension there directly affects global oil prices and Iran's currency market.
MS NOW · Jul 11, 2026
Aluminum Falls Nearly 2 Percent on the London Metal Exchange on Friday
Aluminum on the London Metal Exchange fell about 1.95 percent on Friday, July 10, 2026, to near 3,146 dollars per ton. The decline extended the volatility in base metal markets, which have been moving between concern over global demand and geopolitical developments. Global base metal prices affect export focused aluminum producers listed on the Tehran Stock Exchange, since their product pricing is typically tied to global benchmarks and the exchange rate.
Trading Economics · Jul 11, 2026
Global Wheat Hits a Six Week High as Kerch Strait Closure and Lower US Stocks Drive Gains
Global wheat prices climbed past 6 dollars a bushel on Friday, July 10, 2026, reaching their highest level in about six weeks. Two main drivers lifted prices: the closure of the Kerch Strait, the narrow passage between the Black Sea and the Sea of Azov, amid Russia-Ukraine tensions, and US Department of Agriculture data showing lower wheat stocks. Roughly a third of the wheat exports of Russia, the world's largest exporter, flow through the Sea of Azov. The move matters for Iran, a major importer of wheat and animal feed: costlier global grain can feed through to import costs and domestic food inflation.
Trading Economics · Jul 11, 2026