Africa's Markets, Startups & Money Moves — Updated Daily

United States Reinstating Its Blockade of Iranian Shipping in the Gulf

President Donald Trump said on Monday the United States was reinstating its blockade of Iranian shipping in the Gulf and would ensure the Strait of Hormuz stays open

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US Revokes Iranian Oil Sanctions Waivers

The United States has revoked a sanctions waiver that authorized the sale of Iranian oil because of its repeated attacks on tankers in the Strait of Hormuz

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Iran Warns Attempts to Bypass the Strait of Hormuz Would “Increase Tensions”

Iran’s top diplomat warned Sunday that any attempt to bypass the Strait of Hormuz routes agreed with the United States would “increase tensions” in the Middle East

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Pakistan FM Says No Transit or Service Fees in Strait of Hormuz

No transit or service fees will be imposed on ships passing through the Strait of Hormuz during the current 60-day period, Pakistani Foreign Minister Ishaq Dar told Al Arabiya on Sunday

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Traffic Picks Up After U.S. Navy Ended Its Blockade of Iran

At least 20 oil tankers have crossed the Strait of Hormuz since the U.S. and Iran began to reopen the sea lane to commercial ship traffic, according to the trade intelligence firm Kpler.

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Global Energy Markets Expected to Stabilize After US and Iran Agreement

With the signing of the peace agreement and the reopening of key energy supply routes, analysts expect global energy markets to stabilize

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G7 Finance Ministers to Meet in Paris

A senior European official says the situation in the Middle East has highlighted how exposed the interconnected global economy is to external shocks.

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Global Oil Inventories Are Falling at a Record Pace

Global oil inventories are falling at a record pace to compensate for the big supply disruption in the Middle East and they will approach critical levels if the Strait of Hormuz does not reopen.

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CIA Report Shows Iran Could Withstand Naval Blockade for Months

A CIA assessment indicated that Iran would not suffer severe economic pressure from a US blockade of Iranian ports for about another four months, according to a US official

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Oil Prices Rise As Iran Seizes Container Ships in the Strait of Hormuz

Oil prices rose Wednesday, as Iran claimed to have seized two ships in the Strait of Hormuz shortly after President Donald Trump extended the ceasefire.

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Iran Tells Commercial Vessels Strait of Hormuz Is Closed Again

Commercial vessels attempting to cross the Strait of Hormuz on Saturday received radio messages from Iran’s navy telling them they were not allowed to pass

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A Convoy of Oil Tankers Cross the Strait of Hormuz

A convoy of oil tankers was crossing the Strait of Hormuz on Saturday, the first major movement of ships in the crucial waterway since the US and Israel launched their war on Iran

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