Hazel Oliva

The Navy of Iran’s Islamic Revolutionary Guard Corps (IRGC) has reissued a warning to vessels planning to cross the Strait of Hormuz, stating that ships must adhere to a designated route, and cautioned that any divergence would result in “decisive action.”

“Repeated alert: We caution all ships planning to navigate the strait; the sole secure path through the Strait of Hormuz is the corridor previously designated by the Islamic Republic of Iran,” said the IRGC, as reported by Iranian state media.

“Vessels deviating to alternative routes pose safety risks and will face strong measures from the IRGC Navy,” it stated.

The IRGC’s latest warning followed US Defense Secretary Pete Hegseth’s remarks at a Pentagon briefing today, where he asserted that Washington’s attempts to direct ships out of the Strait of Hormuz are “separate and distinct” from the current military activities in the area.

President Donald Trump claimed Tuesday that “nobody” will contest the US blockade on vessels going to and from Iranian ports, expressing optimism that Tehran’s financial system will collapse.

“The blockade has been incredible.” It resembles a chunk of metal. “No one will contest the blockade,” Trump stated to reporters in the Oval Office.

While the United States maintains its pressure strategy on Iran, Trump remarked that the Iranians are eager to reach an agreement, despite any conflicting public remarks.

“They engage in games, but let me make this clear, they desire to reach an agreement, and who wouldn’t, when your military is completely absent,” Trump stated.

Trump indicated that he desires the failure of Iran’s financial system.

“Yeah, I suppose so, since we’re causing it to fail,” he remarked. “I wish for it to fail.” Do you want to understand the reason? “Since I aim to succeed.”

President Donald Trump again minimized the considerable effects the conflict with Iran has had on American consumers, describing rising oil prices as a “minor cost” to halt Iran’s pursuit of a nuclear weapon.

Trump indicated that the cost of a barrel of oil has not risen as much as he anticipated.

“I expected oil prices to reach $200, $250, or even $300, and I’m aware this will be temporary,” he stated to the press.

Trump remarked, “As I look today, it’s around 102 (dollars) which is a minimal cost to eliminate a nuclear weapon from individuals who are truly mentally unstable.”

Trump stated that once the war concludes, the price of oil “simply balances out.”

According to AAA, the average cost of a gallon of gas has reached $4.48, which has risen sharply in the last few days, increasing by 31 cents this week. The average cost of gasoline has increased by approximately 50% since the conflict started over nine weeks ago.

President Donald Trump refused to specify what would be considered a breach of the ceasefire between the US and Iran, informing reporters today, “You’ll find out” as tensions escalate.

“You’ll discover, as I will inform you… they understand what actions to take.” “They are aware of what actions to avoid,” Trump stated in the Oval Office.

Iran, he stated, is “searching for small vessels to attempt to rival our powerful Navy.”

The US and Iran have exchanged fire in the Strait of Hormuz following the president’s announcement about plans for the US to escort certain vessels through the strait, an important oil passageway.

On Tuesday morning, Defense Secretary Pete Hegseth stated that the “ceasefire is still ongoing.”

Iran, Trump mentioned on Tuesday, “is looking to strike a deal.”

The United Arab Emirates announced that its air defenses are “actively responding to a missile threat” from Iran.

In a short statement on Tuesday, the Interior Ministry urged residents to stay in a secure location and adhere to the directions from officials.

The extent of the assault was not instantly apparent. It follows a day after Iran executed a missile and drone assault on the UAE, marking the first occurrence since the ceasefire commenced in early April.

Xenix News examines Iran’s nuclear supply chain to assess what remains intact.

In recent months, US and Israeli attacks have targeted universities, uranium production facilities, and other essential components of Iran’s nuclear supply network. However, a review of satellite imagery by Xenix News indicates that not every component of the process has been hit.

The United States has been monitoring Tehran’s capability to develop nuclear weapons for an extended period. Despite recent combined US-Israeli attacks on several facilities inflicting considerable damage, our analysis suggests that certain crucial components of the chain might not have been affected at all.

A significant source of trouble for the US and Israel is the Isfahan Uranium Conversion Facility. At that location, the substances generated during the initial phases of the process are transported for purification and transformed into uranium hexafluoride, utilized for uranium enrichment.

Satellite images monitoring activity near that prominent site indicate that something of worth might still be concealed within the nearby tunnels.

David Albright, founder and president of the Institute for Science and International Security in Washington, DC, stated that the visible stockpiles in Isfahan represent “a major risk.”

“The quantity of enriched uranium they’ve generated equals an entire year’s output of their complete enrichment facility, and it is thought to be primarily, nearly all of it, located in Isfahan.”

The US request to eliminate uranium stockpiles in Iran has been a significant factor hindering talks with Tehran. Discovering the precise amount left is crucial for assessing whether Iran continues to pose a nuclear threat.

The energy crisis will not just conclude when the Strait of Hormuz is reopened and may even extend until 2027.

S&P Global Energy cautioned in a report on Tuesday that even once Hormuz reopens, it will require at least an additional seven months to completely revive upstream production.

That projection might turn out to be overly positive.

S&P indicated that the seven-month period presumes: 1) energy infrastructure remains undamaged permanently and 2) supply chains function “efficiently.”

Conversely, the recovery might take more time based on the extent of damage to ports, pipelines, loading facilities, and other infrastructure in the Middle East.

“The more prolonged the closure of the strait, the higher the chances that the supply crisis will persist into late 2026 and into 2027,” stated S&P.

Four weeks after the US and Iran initially reached an agreement for a ceasefire, tensions in the Strait of Hormuz are rising following the US military’s declaration that it will assist stranded ships in the waterway.

We’ve just received updates from US Defense Secretary Pete Hegseth and Joint Chiefs of Staff Chairman Gen. Dan Caine during a Pentagon briefing regarding the conflict. You can review what was discussed here.

If you’re only tuning in now, here’s what else has been happening in the area today:

Tehran has cautioned that it possesses more methods to create difficulties for the US if its authority over the Strait of Hormuz is jeopardized.

The speaker of Iran’s parliament stated that the US and its allies have compromised secure shipping and energy transport “by violating the ceasefire and enforcing a blockade” in the Strait of Hormuz.

The spokesperson for Iran’s foreign ministry stated yesterday that all actions against neighboring countries are undertaken in self-defense.

Iran’s Islamic Revolutionary Guard Corps (IRGC) revealed a new map asserting Iranian military authority over a vast region on both sides of the Strait of Hormuz, as reported by state-linked media.

An Israeli source reports that Israel is working with the US as rising tensions in the Strait of Hormuz jeopardize the ceasefire with Iran.

An Israeli source indicates that if the ceasefire in Iran fails, Israel is considering increasing attacks on Hezbollah throughout Lebanon.

South Korea is assessing the possibility of participating in US initiatives to direct commercial vessels through the Strait of Hormuz, the nation’s foreign ministry stated today.

Iran’s Foreign Minister Abbas Araghchi was scheduled to visit China today as part of ongoing diplomatic discussions between Tehran and Beijing, reported Iran’s semi-official news agency Mehr.

Oil prices are declining today but stay above $100 a barrel, as traders process a wave of news from the Middle East and as conflicts in the Strait of Hormuz intensify.

The airspace of the United Arab Emirates has been partially shut down after Iran launched missiles and drones at the nation yesterday, marking the first incident since the ceasefire commenced in early April.

Xenix News reporting was contributed by Mostafa Salem, Tal Shalev, Satish Cheney, Jack Guy, Nadeen Ebrahim, Aida Karimi, Christian Edwards, and Hanna Ziady.

Worldwide leaders have denounced Iran for launching an attack on a significant Emirati port yesterday. Here’s a summary of remarks made by various officials:

Lebanon: President Joseph Aoun expressed “complete solidarity” with Abu Dhabi and described Iran’s attacks as “an attack on humanitarian principles and international law.”

Pakistan: The main negotiator between Iran and the US condemned Iran’s assaults and urged that the ceasefire be “maintained and honored.” Prime Minister Shehbaz Sharif stated on X that “it is crucial for the ceasefire to be maintained and honored, to provide the essential diplomatic room for discussions aimed at achieving lasting peace and stability in the area.”

India: Prime Minister Narendra Modi termed the assault, which harmed three Indian citizens, as “unacceptable” and urged for “secure and unobstructed passage through the Strait of Hormuz.”

European Union: EU Council President António Costa voiced his backing for Emirati President Sheikh Mohamed bin Zayed Al Nahyan and encouraged Tehran to pursue diplomatic initiatives: “Iran needs to participate in talks to guarantee the ceasefire in the Middle East remains effective.” The EU will persist in collaborating with our allies to promote de-escalation, the reopening of the Strait of Hormuz, and a sustainable diplomatic resolution for regional security.

Canada: Prime Minister Mark Carney denounced Iran’s “unprovoked” aggression and praised the UAE’s “defensive initiatives to safeguard civilians,” urging for “de-escalation and diplomatic solutions in the area.”

A truck driver attaches a fuel loading arm to his tanker at a petroleum depot while French fuel distribution operators strive to sustain supply chains impacted by the ongoing Hormuz crisis, in Ambes, near Bordeaux, France, on Tuesday. Philippe Lopez/AFP/Getty Images

The conflict in the Middle East has led to a rapid decline in oil demand on an unprecedented scale.

According to S&P Global Energy, oil demand is facing the steepest drop on record, excluding the collapse during the pandemic.

S&P predicts that overall demand for oil and petroleum products such as gasoline and jet fuel will decline by nearly 5 million barrels daily this quarter.

The results reveal “demand destruction,” a difficult situation where the high costs of goods and services make them unaffordable for certain consumers and businesses.

Another aspect: In certain areas, energy resources are so limited that fuel rationing has commenced. This means that some individuals who can and want to pay a high price for fuel are unable to obtain it.

Concurrently, the energy system’s buffers are diminishing.

S&P forecasts a significant decline in global crude oil inventories, estimating a drop of 5.5 million barrels per day this quarter, the highest ever recorded.

This “dual depletion” of stockpiles and consumer demand indicates that “the complete extent of the largest supply disruption in history is still ahead,” according to S&P’s findings.

“The approaching cumulative supply loss of nearly 1 billion barrels is an astonishing number that inventories cannot sustain forever.” “A certain market reckoning is approaching,” stated Jim Burkhard, global leader of crude oil research at S&P Global Energy, in the report.

Chevron’s CEO Mike Wirth warned on Monday at the Milken Institute Global Conference that “physical shortages” are imminent, beginning in Asia and subsequently spreading to Europe and the United States last.

A customer fills his vehicle with fuel at a Chevron gas station in Los Angeles, California, on Monday. Justin Sullivan/Getty Images

US gas prices increased by almost 3 cents in the most recent AAA report, reaching an average of $4.48 per gallon of regular. That’s an increase of 30 cents from a week prior and signifies a 50% rise since the war with Iran began.

The current price is the highest it has been since July 2022, after Russia invaded Ukraine that year. That surge pushed prices to an all-time high of $5.02.

Tom Kloza, an independent oil analyst and advisor for Gulf Oil, stated that there is a roughly equal chance of gas reaching $5 again.

“Recently, we’ve observed a surge in prices in non-coastal markets,” stated Kloza. He stated he anticipates gas prices will hit $4.75 per gallon this month.

Oil futures dipped slightly in trading on Tuesday, following the assistance of US naval vessels in navigating ships through the obstructed Strait of Hormuz.