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Prime Minister Shehbaz Sharif said the Islamabad MoU takes immediate effect, with Iran reopening the Strait of Hormuz and the US lifting its naval blockade ahead of Friday's official signing ceremony in Switzerland.Fidan told the prestigious MGIMO university — which counts Russian Foreign Minister Sergey Lavrov among its alumni — that the honor recognized the deep bond between Türkiye and Russia, calling diplomacy the only effective tool for resolving regional disputes amid shifting global power dynamics and warning against strategic miscalculation during the transition to a multipolar order.Türkiye's national team is focused on securing a crucial victory against Paraguay in its second Group D match as it seeks to recover from an opening defeat to Australia. Goalkeeper Uğurcan Çakır said "the first match was not a final" and the team still has six points to play for.President Recep Tayyip Erdogan said he welcomes the agreement reached between Washington and Tehran as an important development for regional stability, urging all parties to refrain from rhetoric and actions that could escalate tensions until the official signing ceremony scheduled for June 19 in Switzerland.Iran's Supreme Leader Mojtaba Khamenei declared on Monday that Israel's "shaky Zionist regime" has only a limited time remaining, his remarks coming amid a sharp escalation that saw Tehran launch missiles at northern Israel and Israeli warplanes strike multiple Iranian cities including the capital.

Prime Minister Shehbaz Sharif said the Islamabad MoU takes immediate effect, with Iran reopening the Strait of Hormuz and the US lifting its naval blockade ahead of Friday's official signing ceremony in Switzerland.Fidan told the prestigious MGIMO university — which counts Russian Foreign Minister Sergey Lavrov among its alumni — that the honor recognized the deep bond between Türkiye and Russia, calling diplomacy the only effective tool for resolving regional disputes amid shifting global power dynamics and warning against strategic miscalculation during the transition to a multipolar order.Türkiye's national team is focused on securing a crucial victory against Paraguay in its second Group D match as it seeks to recover from an opening defeat to Australia. Goalkeeper Uğurcan Çakır said "the first match was not a final" and the team still has six points to play for.President Recep Tayyip Erdogan said he welcomes the agreement reached between Washington and Tehran as an important development for regional stability, urging all parties to refrain from rhetoric and actions that could escalate tensions until the official signing ceremony scheduled for June 19 in Switzerland.Iran's Supreme Leader Mojtaba Khamenei declared on Monday that Israel's "shaky Zionist regime" has only a limited time remaining, his remarks coming amid a sharp escalation that saw Tehran launch missiles at northern Israel and Israeli warplanes strike multiple Iranian cities including the capital.

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Brent climbs above $72 as US-Iran pause eases Hormuz fears

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15:44, 29/06/2026, MondayU: Update: 15:46, 29/06/2026, Monday

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Brent climbs above $72 as US-Iran pause eases Hormuz fears

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International benchmark Brent crude rose above $72 per barrel on Monday, rebounding from four-month lows as renewed US-Iran tensions around the Strait of Hormuz revived supply concerns in global energy markets, though price gains were limited by an agreement to halt strikes ahead of talks in Doha.

International benchmark Brent crude rose above $72 per barrel on Monday, rebounding from four-month lows as renewed US-Iran tensions around the Strait of Hormuz revived supply concerns in global energy markets. The international benchmark gained 0.6% to trade at approximately $72.50 per barrel as of 1020GMT, supported by worries over commercial shipping disruptions near the vital waterway.

Tit-for-tat attacks

The latest escalation began when Iran targeted a container ship traversing the strategic passage, prompting immediate US retaliatory strikes. Washington subsequently launched another round of attacks after Tehran struck a tanker carrying Qatari oil, intensifying fears of supply disruptions through the chokepoint.

Diplomatic pause

Price gains were capped after Washington and Tehran agreed to halt further strikes ahead of negotiations expected to convene in Doha on Tuesday. US and Iranian officials are set to discuss the Strait of Hormuz and broader measures aimed at ending the conflict, according to Axios, though Tehran has stated that the talks remain unconfirmed.

Strategic chokepoint

The Strait of Hormuz, situated between Iran and Oman, carries approximately one-fifth of global oil and liquefied natural gas trade, making it one of the world's most critical energy routes. Shipping activity through the waterway has improved since the US and Iran reached an interim peace agreement, yet shipowners remain cautious as security risks persist and many vessels continue to face delays in the Persian Gulf.

Titles :brent crude oil prices strait of hormuz us-iran tensions doha talks energy markets persian gulf axios

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