The U.S. dollar-dominated global oil trading system is being tested by the Iran war and the closure of the Strait of Hormuz, as governments in major consuming nations turn to increasingly opaque deals with Tehran and Gulf producers to secure supplies.

Iran has started a Bitcoin-backed insurance service for Iranian shipping companies that want to transit the Strait of Hormuz, the semi-official Fars news agency reported, citing documents obtained from the country’s Ministry of Economy and Financial Affairs.

U.S. Treasury Secretary Scott Bessent announced Monday that the Treasury Department is issuing a temporary 30-day general license allowing “the most vulnerable nations” to access Russian oil cargoes currently stranded at sea,...

By Gus Trompiz, Christoph Steitz and Dave Sherwood PARIS/FRANKFURT/HAVANA, May 17 (Reuters) – Shipping giants CMA CGM and Hapag-Lloyd HLAG.DE said on Sunday they had suspended all bookings to and from Cuba until further notice, with both citing a...

By Weilun Soon May 16 (Bloomberg) –A Vietnam-bound supertanker carrying 2 million barrels of Iraqi crude, which was halted by US forces days ago after crossing the Strait of Hormuz, has...

By Muayad Hameed BAGHDAD, May 16 (Reuters) – Iraq exported 10 million barrels of oil via the Strait of Hormuz in April, down from about 93 million barrels monthly before the Iran war,...

By Julian Lee and Prejula Prem May 16, 2026 (Bloomberg) –A Suezmax tanker identified as carrying Iraqi crude is approaching India after apparently crossing the Strait of Hormuz in recent days....

By Jennifer A. Dlouhy May 16, 2026 (Bloomberg) –The Trump administration allowed a waiver that encouraged more Russian crude sales to lapse, even as the Iran war stokes concerns about global...

The Panama Canal is not planning vessel passage restrictions for the remainder of 2026 even if an El Niño weather pattern begins in the second half of the year as predicted, potentially leading to another drought in the Central American country, the waterway told Reuters.

Two India-bound vessels laden with cooking fuel from the Persian Gulf appear to have transited the Strait of Hormuz, making them the latest to exit despite continued restrictions from the US and Iran.

Landlocked and surrounded by richer, more powerful neighbors, Malawi has long been a victim of geography and economics. It now finds itself at the sharp end of a crisis being made more than 3,000 miles away.

A liquefied petroleum gas carrier, which has previously ferried Iranian cargoes, has sailed past the blockade boundary announced last month by the US Navy.