Trump Says US Will Be ‘Taking’ Iran’s Kharg Island

Futures Rise After Trump Extends Ceasefire Even As Brent Tops $100 Futures are higher with earnings in full swing and AI winners soaring. Trump indefinitely extended the ceasefire with Iran just before its Taco Tuesday expiration, while maintaining a blockade of the Strait of Hormuz, after plans for peace talks fell apart. Still, the market doesn’t seem too concerned about the lack of a resolution, and is instead focused on a Tasnim report that Iran had received "some signs" the US was ready to break the blockade. As of 8:00am, S&P futures were...

First Of Many? UAE Exits OPEC As Iran Chaos Triggers Nationalistic Realignment Among Producers OPEC member and major Gulf producer, the UAE, has decided to exit the oil cartel, an unexpected development that crossed Bloomberg headlines on Tuesday morning around 0822 ET. OPEC finished https://t.co/RtxJdZQeQh — zerohedge (@zerohedge) April 28, 2026 WAM said the decision reflects the "evolution of sector policies to enhance flexibility in responding to market dynamics, while continuing to contribute to market stability in a thoughtful and responsible manner." OPEC was founded in Baghdad in September 1960 by Iran, Iraq, Kuwait,...

"We Must Act": TotalEnergies CEO Joins Calls To Rewire Gulf Energy Flows Around Hormuz The Strait of Hormuz was disrupted or nearly closed for roughly three and a half to four months, offering Gulf states aligned with the U.S. one clear message: energy flows - or tanker transits - must be rewired through pipeline networks that bypass the maritime chokepoint. By creating alternative pipeline export routes through the UAE, Iraq, Saudi Arabia, Kuwait, Syria, Oman, or Turkey, regional producers can reduce the risk that Tehran can once again use Hormuz...