Hormuz tensions
Iran’s new Hormuz map shows why the strait remains its key leverage
The Revolutionary Guard’s expanded maritime claim follows a U.S. escort push through a largely closed energy chokepoint and reported attacks in the UAE
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- Oil markets UAE’s Opec exit tests the cartel’s grip on oil supply The Gulf producer wants more room to pump after years of quota limits. The move may not drive prices during the Strait of Hormuz crisis, but it could reshape the market afterward
- Treasury Bessent defends potential dollar swap lines for Gulf and Asian allies The Treasury secretary cast the discussions as routine as the Trump administration weighs financial backstops sought by partners during the Iran war