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Rubio: Diplomacy Will Be Rendered 'Impossible' If Iran Enacts Hormuz Toll System
Rubio: Diplomacy Will Be Rendered 'Impossible' If Iran Enacts Hormuz Toll System
Iran has been seeking to significantly expand the area around the Strait of Hormuz over which it claims military control by this week advancing the newly-created government agency of the "Persian Gulf Strait Authority".
The agency quickly published a map proclaiming "Iranian armed forces oversight" across more than 22,000 sq km (8,800 sq miles) of the Hormuz waterway. Now, all transit through the strait "requires coordination with and authorization from the Persian Gulf Strait Authority" - the new entity announced.
Of...
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Feb 26, 2026 / Tyler Durden
Automakers Push Toward "Eyes-Off" Driving Despite Mounting Doubts
Automakers Push Toward "Eyes-Off" Driving Despite Mounting Doubts
Global automakers are zeroing in on a controversial waypoint in the autonomy race: “eyes-off” driving, known in the industry as Level 3, according to a new report by Reuters.
The idea is simple but provocative — motorists could look away to send a message or work on a laptop until the vehicle signals them to retake control.
After years spent refining hands-on driver aids that manage steering and speed, companies see Level 3 as a potential bridge between today’s supervised systems and tomorrow’s fully driverless...
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Apr 13, 2026 / Dave DeCamp
Trump Says US Military Has Started Blockade on Iranian Ports as Iran Calls It ‘Piracy’
President Trump said on Monday that the US military has begun enforcing a blockade on the Strait of Hormuz as Iran has denounced the move as “piracy.” US Central Command said the blockade will aim to impede the passage of all ships entering or leaving Iranian ports, including those in the Arabian Sea and the […]
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Jun 26, 2026 / Tyler Durden
Tanker Rates Nearly Halve As Hormuz Shipping Normalizes
Tanker Rates Nearly Halve As Hormuz Shipping Normalizes
The recent spike in the cost to hire a supertanker carrying 2 million barrels of crude from Saudi Arabia to China is now being sharply reversed, as more shippers send vessels through the Strait of Hormuz and normalization trends continue to improve.
Bloomberg reports that tanker rates for the Saudi Arabia-to-China route tumbled to about $287K on Friday, down 44% from more than $514K on Tuesday. That data came from the Baltic Exchange.
Rates remain elevated and still highly profitable for owners, but...
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