finance
Iran Halts Oil Tanker Passage Through Strait of Hormuz Amid Ceasefire Tensions with Israel and US
Iran has stopped oil tankers from passing through the Strait of Hormuz following Israel's reported ceasefire violations in Lebanon and attacks on Iranian sites. A two-week US-Iran ceasefire agreement includes conditions for reopening the strait, but Iran warns of withdrawal if attacks continue. Oil prices have fallen below $100 per barrel in response to de-escalation expectations.
Apr 8, 11:41 AM·2m read36 sources
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Iran halted the passage of oil tankers through the Strait of Hormuz after Israel conducted attacks on Lebanon, which Iranian state media described as ceasefire breaches. The two-week ceasefire agreement between the United States and Iran, announced recently, conditions the suspension of US bombing on Iran and the reopening of the strait.
President Donald Trump stated the ceasefire is double-sided and tied to these terms.
Iranian President Masoud Pezeshkian informed Pakistan's Prime Minister Shehbaz Sharif during a call on Wednesday that a ceasefire in Lebanon is essential for the 10-point US-Iran agreement. Pezeshkian noted Iran accepted the ceasefire proposal as part of its responsible approach. Pakistan's Prime Minister urged all parties to respect ceasefire commitments after Israel's bombing in Lebanon.
indicate Israel violated the ceasefire by attacking targets in Lebanon and sites in Iran's Lavan and Siri Islands.
Iran's Fars News Agency cited a security source stating Iran is weighing a response to these violations. The IRGC Aerospace Force Commander announced Iran is preparing a heavy response to Israel's attack on Lebanon, according to Mehr News. Iran warned it will withdraw from the ceasefire if attacks on Lebanon continue, per Tasnim News Agency citing an unnamed source.
Iran informed mediators that US talks depend on a Lebanon ceasefire and warned of continued strikes on regional countries, including Israel, if attacks persist, as reported by the Wall Street Journal. Gulf states seek clarity on the US-Iran ceasefire amid ongoing regional attacks.
prices dropped below $100 per barrel following the ceasefire announcement, with Brent crude falling 13.
8% to $95. 7%. 7%, due to lower fuel costs. Israel was not formally part of the US-Iran negotiations and received word of the deal at a late stage, according to mediators cited by the Wall Street Journal.
