Strait Of Hormuz

• Global oil inventories headed to lowest level in decades, U.S. EIA warns

  The Middle East conflict has caused global stockpiles of oil to plummet to their lowest level since 2003 while petroleum prices have spiked, according to a new energy data report.

  Consumer

  Jun 9
  
• War in Iran will add $650 in extra fuel costs for average Ontario household: report

  A new report from the FAO modelled the extra cost of oil after United States President Donald Trump began a military campaign in the Middle East.

  Economy

  Jun 4
  
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• Trump denies reports Iran stopped talking to mediators, says talks ongoing

  Iran reportedly stopped communicating with mediators about extending a ceasefire, but U.S. President Donald Trump disputed the claim.

  World

  Jun 2
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• U.S. and Iran exchange strikes as ceasefire remains unclear

  The nominal ceasefire between Iran and the U.S. has been repeatedly tested with back-and-forth attacks, even as officials from both countries try to negotiate an end to the war.

  World

  Jun 1
• Trump says U.S. blockade on Strait of Hormuz ‘will now be lifted’

  U.S. President Donald Trump says the U.S. blockade on the Strait of Hormuz "will now be lifted" after a proposed agreement with Iran has been reached.

  Canada

  May 29
• Iran, U.S. reach tentative deal to extend ceasefire, peace talks: sources

  U.S. President Donald Trump has yet to approve the agreement, the sources told Reuters, and Iranian state media said the text had not been finalized.

  World

  May 28
• Trump says Iran ‘negotiating on fumes’ in talks to reopen Strait of Hormuz

  Speaking at the start of a Cabinet meeting at a precarious moment for talks aimed at ending the war, Trump expressed confidence that a deal is near.

  World

  May 27
• Trump says deal imminent to reopen Strait of Hormuz

  A possible deal to reopen the Strait of Hormuz could bring relief to Canadians facing higher gas prices, after the Middle East conflict disrupted a key global oil shipping route.

  World

  May 23
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• U.S. notes ‘slight progress’ in Iran talks, but uncertain deal will be made

  Rubio said he didn’t want to exaggerate the progress, saying there had been “a little bit of movement and that’s good.” He said the conversations were ongoing.

  World

  May 22
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• Motor oil prices are on the rise, experts say. The Strait of Hormuz is why

  Currently, a barrel of West Texas intermediate crude oil is down about 87 cents to $1.08. Crude oil is down about $1.60 cents a barrel, with trading at about $110 a barrel.

  Canada

  May 19