Pete Hegseth on Strait of Hormuz: 'Don't Need to Worry About It'
U.S. Defense Secretary Pete Hegseth told reporters the United States is not worried about a potential closure of the Strait of Hormuz amid the Iran war, despite recent spikes in oil prices. He emphasized that the Pentagon already has contingency plans to keep the waterway open. Hegseth also pushed back against media claims that the military lacks a reopening strategy. The remarks came after the United States and Israel launched attacks on Iran, which have heightened market volatility.
India's Modi Reaches Out to Iran as Energy Crunch Fears Grip the South Asian Nation
Indian Prime Minister Narendra Modi reached out to Iranian President Masoud Pezeshkian, seeking safe passage for Indian vessels as Iran threatens to keep the Strait of Hormuz closed. The closure jeopardises roughly half of India’s crude‑oil imports and its primary...
Strait of Hormuz Must Remain Closed as 'Tool to Pressure Enemy,' Iran's New Supreme Leader Says
Iran's newly appointed supreme leader Mojtaba Khamenei called for the Strait of Hormuz to remain closed, describing it as a tool to pressure the enemy. He also demanded the immediate shutdown of all U.S. bases in the Middle East and...
Iran's Strategic Oil Island Thrust Into the Spotlight as Middle East Conflict Escalates
Kharg Island, Iran's primary oil export hub, handles roughly 90% of the country's crude and can load about 7 million barrels per day. As the U.S.-Israel war on Iran intensifies, the island remains untouched, but analysts warn President Trump may contemplate...
Electricity Prices Rising by Double the Rate of Inflation. Data Center Demand Means No Relief Ahead, Analysts Say
Electricity rates surged 6.9% in 2025, more than double the 2.9% inflation rate, driven largely by AI‑powered data centers. Goldman Sachs warns that data centers will account for 40% of electricity‑demand growth, keeping prices elevated through the decade. Households face...
