Wednesday, May 20Wednesday, May 20Three supertankers carrying a combined 6 million barrels of crude oil have attempted to cross the Strait of Hormuz, bound for China and South Korea. The passage of these vessels has raised hopes of a resumption in energy flows through the critical waterway, leading to a nearly 6% drop in Brent crude prices, which fell to around $105 per barrel .
Iran’s Islamic Revolutionary Guard Corps (IRGC) has claimed to coordinate the passage of 26 vessels through the Strait of Hormuz within a 24-hour period, asserting its control over the waterway despite a U.S. blockade on Iranian ports .
Iran is reportedly considering imposing tariffs on major tech companies, including Google, Meta, Microsoft, and Amazon, for using undersea internet cables that cross the Strait of Hormuz. This move is seen as an attempt to leverage its control over the waterway to increase economic pressure on the West. The potential fees could raise connectivity costs and create digital vulnerabilities for Europe, though some experts argue that the continent has sufficient backup bandwidth to mitigate the impact .
The ongoing disruptions in the Strait of Hormuz are contributing to a broader systemic shock to global food prices, with the U.N. warning that the world has approximately six months to avert a major food crisis if the situation persists .
> Background: **Iran unveils Hormuz shipping toll plan amid rising regional tensions.** — *3 days ago*
More LFE coverage on this topic
Digital bottleneck: How Iran wants to use internet access for leverage in the war Tehran is floating the idea of charging the worlds largest tech companies – including Google, Meta, Microsoft and Amazon – for using the undersea internet cables crossing the Strait of Hormuz in a new attempt to exploit its control over the critical waterway to ratchet up economic pressure on the West.
france24 · about 4 hours ago
Oil drops nearly 6 as two China-bound supertankers cross Strait of Hormuz Brent crude falls to about $105 a barrel as Asia-bound vessels raise hopes of resumption of energy flows
financial times · about 4 hours ago
Oil drops 6 as three supertankers attempt Strait of Hormuz crossing Brent crude falls below $105 a barrel as vessels bound for Asia raise hopes of resumption of energy flows
financial times · about 6 hours ago
Iran claims it coordinated passage of 26 vessels out of Hormuz in 24 hours The IRGC claims to maintain control over the Strait of Hormuz despite the US blockade on Irans ports.
aljazeera · about 6 hours ago
Oil drops 5 as three supertankers attempt Strait of Hormuz crossing Brent crude falls to $105 a barrel and vessels bound for China and South Korea raise hopes of resumption of energy flows
financial times · about 6 hours ago
Three supertankers attempt Strait of Hormuz crossing Vessels bound for China and South Korea are carrying 6mn barrels of crude oil
financial times · about 8 hours ago
Investieren in der Krise: „Die eigentliche Gefahr für die Börse kommt selten von der geopolitischen Weltlage Anleger haben Angst vor dem Irankrieg und einer KI-Blase. Das ist ein bisschen übertrieben, sagt Finanzprofessor Elroy Dimson. Die Geschichte kann erklären, warum die Aktienkurse immer noch steigen.
faz · about 9 hours ago
As Iran mulls tariffs on Hormuz internet cables, how might the fees threaten Europe? The move could raise connectivity costs and create greater digital vulnerability for Europe, but some experts argue that the continent has enough backup bandwidth to survive without access to the cables in the Strait of Hormuz.
euronews · about 10 hours ago
The world has 6 months to avert major food crisis, says UN as Hormuz struggle drags on The closure of the Strait of Hormuz is not a temporary disruption but the start of a systemic shock to global food prices, the U.N. food agency said Wednesday.
politico.eu · about 10 hours ago
The world has 6 months to avert Hormuz-linked food crisis, says UN The closure of the Strait of Hormuz is not a temporary disruption but the start of a systemic shock to global food prices, the U.N. food agency said Wednesday.
politico.eu · about 11 hours ago
Aktien: „Wenn Zeitungen viel über Krieg berichten, ist das ein guter Zeitpunkt zum Kaufen Anleger haben Angst vor dem Irankrieg und einer KI-Blase. Das ist ein bisschen übertrieben, sagt Finanzprofessor Elroy Dimson. Die Geschichte kann erklären, warum die Aktienkurse immer noch steigen.
faz · about 11 hours ago