Funds within the regime are beginning to run low, and the top political leaders of the Islamic Revolution are urging the hardliners in power to find a way out of the conflict. Although Tehran might be tempted by what analysts call ‘the October surprise’

For Trump, the Strait remains open; he says the United States “has complete control”. Even if it involves substantial resources and is only to allow a limited amount of oil to pass through, things are indeed moving forward. With a night-time operation by the US military

According to Bloomberg, actual volumes would thus exceed estimates by 4 million barrels a day, approaching the figures claimed by US Energy Secretary Wright

First casualties of the war in merchant shipping: the Houthis strike where oil was being transported to bypass the Strait of Hormuz. Meanwhile, US Secretary Wright boasts of record volumes but is contradicted by experts

Internal factions within the Iranian regime are at loggerheads over the reopening of the Strait, and the appointment of Mohsen Rezaei strengthens the hardliners. Trump rejects the claims for compensation, stating, “It was never mentioned in any of the meetings. Now I, too, am seeking compensation from Iran,” he wrote on Truth

The discount on diesel has been extended until 25 August: 245 million has been taken from the ministries’ budgets, following the nearly 2 billion already spent since March. But a flat-rate discount for everyone rewards those who consume the most

Saudi Arabia, Iraq, Jordan, Kuwait. The other fronts in the war in the Middle East, which stretches from the Strait of Hormuz to the Mediterranean, with a map

Energy shock, part two. US President Trump’s announcement this evening of a massive attack on Iran, coupled with fears that, in addition to the Strait of Hormuz, shipping through the Red Sea may also be disrupted following the Houthis’ attack on a Saudi oil tanker, and the price of Brent crude, have shifted investor sentiment

The chairman of the group of the same name, which comprises over 130 vessels, warns: “There have been moments of hope and setbacks, but there is no genuine dialogue.” And following the release of his vessel thanks to the Italian Foreign Ministry: “I would like to thank Minister Tajani, who personally intervened on our behalf.”