June 30 2025 – International Desk Global crude oil prices fell sharply on Monday, sliding below $67 per barrel, following Iran’s unexpected decision not to block the strategic Strait of Hormuz, easing concerns over a potential supply disruption in the Gulf region. The development comes amid heightened geopolitical tensions in the Middle East. However, Iran’s
WASHINGTON — The United States government has called on China to use its diplomatic influence to discourage Iran from taking steps toward closing the Strait of Hormuz, a key global oil transit route, warning that such an action could severely disrupt the international energy supply chain and escalate tensions in the Middle East. The appeal
Tehran, June 23, 2025 – In a significant move that could further destabilize the already fragile security situation in the Gulf region, Iran’s parliament on Monday passed a resolution approving retaliatory measures against the United States following its airstrikes on Iranian nuclear facilities. The parliamentary measure, backed by an overwhelming majority in the Islamic Consultative
June 23, 2025 – Lagos/Washington – A new report released by global investment banking firm Goldman Sachs has projected that the price of Brent crude oil could surge to $110 per barrel if tensions in the Middle East escalate to the point where Iran blocks the Strait of Hormuz, a key global oil shipping route.
