Iran’s Strait of Hormuz plan sparks fears of global oil shock

Israel carried out five airstrikes late Friday near the Syrian border after calling for the evacuation of two areas in the south of the country, the state news agency said.

The National News Agency said Israeli warplanes struck shortly before midnight, targeting the Nabi Sreij area on the outskirts of the eastern town of Brital, which had been spared from attacks since an April 17 ceasefire.

AFP

Two buildings in and around the southern Lebanese city of Tyre were struck overnight Friday into Saturday, after the Israeli military issued an evacuation warning.

An AFP correspondent reported hearing two explosions as one building on the outskirts of the city was struck, then seeing smoke rising from the scene and smoke rising before civil defence teams arrived.

Shortly afterwards, a second blast was heard inside the city, with smoke also rising from the location.

Iran’s reported discussions with Oman over a possible payment system for ships crossing the Strait of Hormuz are raising fresh questions about whether Tehran is seeking to turn wartime leverage over the world’s most critical energy chokepoint into longer-term strategic influence.

The talks, reported by Bloomberg News and The New York Times, are significant because they suggest Iran may be looking for regional backing for a future shipping framework linked to Hormuz.

Dubai: The world could be heading towards a dangerous oil supply crunch as the prolonged closure of the Strait of Hormuz drains emergency reserves and rattles global energy markets, the head of the International Energy Agency has warned.

As the disruption stretches into its fourth month following the US-Israeli war with Iran, IEA Executive Director Fatih Birol said global oil markets could slip into a “red zone” by July or August if supplies fail to recover and tanker traffic through Hormuz remains heavily restricted.

US military and intelligence chiefs have "canceled" their Memorial Day holiday leave, in what CBS reported as a sign of preparations for potential strikes on Iran.

Meanwhile, NBC News earlier reported that President Donald Trump will skip his son Donald Jr's wedding with Bettina Anderson because of the Iran war and “other things.” Asked by NBC News whether he would be in attendance, the president said it “is not good timing for me.” “He’d like me to go,” Trump said of his eldest son. “But it’s going to be just a small, little private affair, and I’m going to try and make it. I’m in the midst — I said, you know, this is not good timing for me. I have a thing called Iran and other things."

Iran's Civil Aviation Authority has issued a NOTAM restricting operations at most western airports in the Tehran Flight Information Region until early Monday, May 25, allowing limited daytime flights at eight specific sites.

NOTAM stands for Notice to Air Missions (formerly "Notice to Airmen"), an  official, time-sensitive notice issued by aviation authorities to alert pilots and flight crews of abnormal or temporary hazards, restrictions, or changes along a flight route or at an airport.

The move echoes empty airspace patterns seen before US and Israeli strikes on February 28 that sparked the 2026 war, though officials cite operational needs possibly tied to military exercises.

It unfolds against a shaky US-brokered ceasefire, with President Trump pressing deadlines on Iran over the Strait of Hormuz while sporadic tensions linger.

Negotiations between the US and Iran have reportedly shown “slight progress,” though major disputes over Iran’s stockpile of highly enriched uranium and control of the Strait of Hormuz continue to hinder efforts toward a broader agreement.

Public details about the latest diplomatic discussions remain limited, and it was unclear from available reporting where negotiators had achieved progress.

The talks come as tensions remain elevated across the Gulf region following months of military confrontation, shipping disruptions and sanctions pressure linked to Iran’s nuclear program and regional security activities.

The Council of the European Union today decided to expand the scope of the legal framework of the European sanctions imposed on Iran to include individuals and entities involved in policies and actions that infringe upon the established rights of both transit and innocent passage through international straits.

Under the new amendments, the European Union will be able to impose further restrictive measures on persons and entities linked to actions undermining freedom of navigation in the Strait of Hormuz. These measures include bans on travel to or transit through EU territories, in addition to asset freezes.

The United States announced unprecedented sanctions on two Lebanese officers on Thursday, accusing them of sharing intelligence with Hezbollah, targeting army colonel Samir Hamadi and Khattar Nasser Eldin of General Security, alongside Iran's ambassador to Lebanon, three Hezbollah lawmakers, a former minister and two figures from the Hezbollah-allied Amal movement.

Washington said both officers "shared important intelligence" with Hezbollah "during the ongoing conflict," while the Lebanese army and General Security affirmed their personnel's loyalty and commitment to orders without political considerations.

Military expert Riad Kahwaji warned the move will have "significant repercussions within Lebanon" as "the prestige that was given to the Lebanese army has been removed," adding the sanctions mark a new phase in which "everyone who facilitates Hezbollah's activities from within the Lebanese state will be held accountable." US Treasury Secretary Scott Bessent said Washington "will continue to take action against officials who have infiltrated the Lebanese government."

US President Donald Trump confirmed Friday he would miss his son's wedding, insisting he had to stay in Washington because of "circumstances pertaining to government."

Trump had said a day earlier that the Iran war made it "bad timing" for him to attend Donald Trump Jr's wedding to Bettina Anderson in the Bahamas this weekend.

"While I very much wanted to be with my son, Don Jr., and the newest member of the Trump Family, his soon to be wife, Bettina, circumstances pertaining to Government, and my love for the United States of America, do not allow me to do so," Trump said on his Truth Social network.

"I feel it is important for me to remain in Washington, D.C., at the White House during this important period of time. Congratulations to Don and Bettina!"

Pakistan's powerful army chief arrived in Tehran on Friday, with Islamabad mediating as the Islamic republic examines a new US proposal to end the Middle East war.

Iran's foreign ministry spokesman Esmaeil Baqaei, however, said the visit did not necessarily mean "we have reached a turning point or a decisive situation". 

The disagreements between Iran and the United States were "deep and extensive", he added in quotes carried by Iran's ISNA news agency.

The UAE Mission to the United Nations posted on X that Ambassador Abushahab met with ICRC President Mirjana Spoljaric Egger to discuss the humanitarian consequences of Iran's attacks against the UAE and neighbouring countries, as well as the global humanitarian impact of Iran's unlawful obstruction of the Strait of Hormuz.

Both sides expressed deep concern over the attacks and threats against civilians and civilian infrastructure, and underlined the critical importance of full compliance with international humanitarian law.

The UAE reaffirmed its commitment to supporting the ICRC's efforts to safeguard lives, ensure the delivery of urgent relief, and uphold international humanitarian law.

Pakistan's Field Marshal Asim Munir departed on Friday for an official visit to Tehran, security sources told AFP, as Iran examined the latest US proposal to end the Middle East war.

Pakistan, Iran's eastern neighbour, has been mediating between Tehran and Washington in an effort to end the conflict, which broke out on February 28 when the US and Israel launched attacks.

European Union nations moved towards imposing sanctions on Iranian officials and others responsible for blocking the Strait of Hormuz, the EU said.

Tehran effectively closed the key shipping lane for global gas and oil in retaliation to US-Israeli strikes launched in February.

Deeming the blockade "contrary to international law", EU governments took a technical step to extend the scope of its existing Iran sanctions regime allowing for more individuals to be targeted under it.

"The EU will now be able to introduce further restrictive measures in response to Iran's actions undermining the freedom of navigation in the Strait of Hormuz," the European Council representing EU nations said.

Brussels' punitive measures on Iran previously targeted the country's military support for Russia in its war against Ukraine and for armed groups across the Middle East.

The European Union has also imposed sanctions over human rights violations in the country.

The EU did not immediately name any individual or entities that would be targeted by the new sanctions, consisting of travel bans and asset freezes.

EU citizens and companies will also be banned from making funds, financial assets or other economic resources available to those listed.

Secretary of State Marco Rubio has said Washington would welcome an agreement with Iran that ensures the Strait of Hormuz remains open and Tehran abandons its nuclear ambitions.

However, he cautioned that the United States must also prepare a “Plan B” if negotiations fail, warning that consequences would follow if Iran refuses to allow free navigation through the strategic waterway.

“If Iran refuses to open the Straits, something has to be done about it,” Rubio said, underscoring ongoing tensions in the diplomatic process.

The US and Iran have just a "50-50" chance of reaching an agreement that would free up the Strait of Hormuz, a senior UAE official said on Friday.

Presidential adviser Anwar Gargash urged Tehran not to overplay its hand in the stop-start negotiations during the Middle East war's fragile ceasefire.

Iranian officials "have missed a lot of chances over the years because there's a tendency to overestimate their cards", Gargash told the GLOBSEC Forum in Prague.

"I hope they don't do that this time."

The UAE, which hosts US military facilities, was targeted by about 3,300 drones and missiles during 40 days of war from February 28 onwards, Gargash said, with only around four per cent getting through.

He said the Iran-blockaded Hormuz, which normally carries a fifth of global oil production, must go back to normal, and cautioned against an inconclusive ceasefire.

"Negotiations just to reach a ceasefire and sow the seeds for further conflict in the future is not what we're seeking," he said.

"And I think that the Strait of Hormuz clearly has to go back to the status quo and this should be an international waterway."

With US negotiators focusing on Iran's potential development of an atomic weapon, Gargash said: "The Iranian nuclear program was our second or third worry, now it's our first worry."

"We see that Iran is capable of using any weapon that it has in its hands, which is what we learned," he added.

Day 84: UAE backs WHO move against Iran's attacks on civilians

Day 83: Trump rejects tolls in Hormuz: 'We want it free'

Day 82: Trump says US-Iran talks are ‘right on the borderline’

Day 81: Iran’s position 'unclear', deal 'uncertain': VP Vance

Day 80: Trump says 'holding off on attack on Iran tomorrow'

Day 79: Trump says 'clock is ticking' for Iran

Day 78: Iran plans new Strait of Hormuz toll system

Day 77: Israel and Lebanon extend ceasefire by 45 days: US

Day 76: World leaders call for security in Strait of Hormuz

Day 75: Trump arrives in Beijing for summit with Xi

Day 74: Iran signals potential 90% Uranium enrichment

Day 73: Trump calls Iranian response 'totally unacceptable'

Day 72: 'As of today, Tehran’s restraint is over': Iran official

Day 71: Iran keeps US waiting on response to peace plan

Day 70: US fires on Iran tankers as talks hang in balance

Day 69: Iran creates agency to control shipping at the Strait of Hormuz

Day 68: Trump threatens 'higher level' bombing of Iran if deal not agreed

Day 67: 'Project Freedom' paused 'for a short period': Trump

Day 66: UAE intercepts 12 ballistic missiles, 3 cruise missiles, 4 drones