Strait of Hormuz closure drives oil prices higher and lifts major company profits amid Iran war disruption
Global oil markets are being reshaped by the continued closure of the Strait of Hormuz, a key shipping route in the Middle East. The disruption has pushed oil prices higher for months and has fed through to household energy costs in the United States and Europe. At the same time, major oil companies have reported sharply higher quarterly profits as the war on Iran and widening hostilities in the Red Sea continue to unsettle supply chains.The companies named in the latest market reports include ExxonMobil, Chevron, Shell, BP and TotalEnergies. ExxonMobil said second-quarter earnings reached $14.5bn, with adjusted earnings of... [Continue Reading]
360LiveNews | 04 Aug 2026 15:30 LONDON
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US Army has used nearly all long-range precision missile stocks in Iran war, report says
The US Army has used "practically all" of its long-range precision missile stockpile during the war against Iran, according to a report published on Tuesday. The shortage is said to involve Army surface-to-surface systems, including Army Tactical Missile Systems and Precision Strike Missiles. The report says this is the first confirmed sign of low stocks in these offensive weapons since the conflict began.Three people familiar with US military data were cited as saying the depletion is linked to the sustained pace of operations in the war, which entered its sixth month in August. The report also said the conflict began... [Continue Reading]
360LiveNews | 04 Aug 2026 12:30 LONDON
Threat to oil tankers in the Middle East at worst level since Iran war began, analysts say
Analysts say the threat to crude shipping in the Middle East is now at its worst level since the Iran war began, after a series of attacks on vessels in the Red Sea and a sharp fall in traffic through the Strait of Hormuz. The warning comes as tanker operators and ship-tracking firms report that some vessels are avoiding detection by switching off transponders, a practice known as going dark. The disruption is affecting one of the world's most sensitive energy corridors at a time when shipping routes across the region are under pressure.According to ship-tracking data cited by analysts,... [Continue Reading]
360LiveNews | 03 Aug 2026 16:59 LONDON
US commander warns troops over phone use amid Iran war
A senior US commander has warned deployed American troops that videos filmed on their phones could help Iran assess attacks in near real time. Admiral Bradford Cooper, who oversees the US military response in the conflict, said footage posted online could reveal whether missiles or drones had hit their intended targets. The warning comes as commanders consider tighter restrictions on device use at some bases across the Middle East.Cooper said the consequences of apparently routine phone use could be serious, arguing that open-source material could be measured in the lives of US service members and civilians in targeted Gulf countries.... [Continue Reading]
360LiveNews | 31 Jul 2026 16:02 LONDON
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India says missions helped 140,000 citizens return during US-Iran war
India's government says its diplomatic missions helped about 140,000 Indian nationals return home during the US-Iran war. The statement was given in parliament on Friday by Union Minister of State for External Affairs Kirti Vardhan Singh. It said embassies and consulates coordinated transit visas, accommodation, transport and cross-border travel to move stranded citizens out of affected areas in West Asia.According to the written reply, the largest share of returns was routed through Qatar, where 100,000 Indian nationals were assisted after the partial reopening of airspace. The government said 30,000 people were helped through Kuwait, with Indian missions arranging Saudi transit... [Continue Reading]
360LiveNews | 31 Jul 2026 11:30 LONDON
US Iran war costs rise as missile interceptor spending mounts
The United States is spending heavily on missile interceptors and other munitions as its conflict with Iran continues, with analysts saying the cost is rising quickly. A report published on Thursday said the Pentagon has been drawing down stockpiles of high-end weapons to defend against Iranian attacks in the Middle East. The war has now been described as costing the United States tens of billions of dollars, with no clear end in sight.The report said a single SM-3 interceptor can cost up to $28 million, or about $40 million, and analysts estimate the US may have used more than 100... [Continue Reading]
360LiveNews | 30 Jul 2026 21:32 LONDON
Shell profits double as oil prices rise after Iran war disrupts energy supplies
Shell has reported a sharp rise in second-quarter profits after the Iran war pushed up oil prices and disrupted global energy supplies. The company said earnings for the April-to-June period reached $9.84bn, more than double the $4.26bn recorded a year earlier. The increase came as the conflict affected flows of oil and liquefied natural gas through the Strait of Hormuz, a key route for global energy shipments.Chief executive Wael Sawan said Shell's operational performance had delivered very strong results during what he described as another quarter of severe disruption in global energy markets. The company also said its first-half earnings... [Continue Reading]
360LiveNews | 30 Jul 2026 09:09 LONDON
