Iran Allows Iraqi Ships To Use Strait Of Hormuz As Total Weekly Transits Reach HIghest Since War Began

Top Iranian and Lebanese officials have rejected a US-brokered agreement between Israel and Lebanon.  On Friday, the State Department announced an agreement between the governments of Lebanon and Israel that was framed as a ceasefire. Israel has been at war in Lebanon with Hezbollah for several years. Israeli forces are occupying Lebanon, and Tel Aviv […]

U.S. Gasoline Tops $4.50 As "Shock & Awe" Level Approaches WTI futures plunged more than 11% to the $90-a-barrel level after Axios reported earlier this morning that the U.S. is nearing a preliminary agreement with Iran to end the war. The sharp decline suggests traders are beginning to price in a potential geopolitical de-escalation and the potential reopening of the Hormuz chokepoint. At the pump, however, the latest AAA data as of Wednesday morning show that the national average for regular 87-octane gasoline has climbed to $4.50 a gallon, the...

Chairman of the Joint Chiefs of Staff General Dan Craine said that Iranian attacks on shipping in the Persian Gulf and energy infrastructure in the UAE did not amount to significant violations of the ceasefire.  On Monday, Iran fired missiles at a US destroyer as a warning shot, an Iranian drone caused a large fire […]