Rubio's comments came after Iran's Press TV reported that the parliament approved a measure to close the Strait of Hormuz, through which around 20 per cent of the world's oil and gas flows.

Goldman Sachs forecasts Brent crude could spike to $110 per barrel if Iran disrupts oil flows through the Strait of Hormuz.

The rise comes after Iran's parliament backed closing the critical Strait of Hormuz, where about 20% of the world's oil ...

"As the Middle East situation enters a new phase due to the US airstrike on Iran's nuclear facilities, there are concerns about the impact on our exports and imports," first vice industry minister ...

US Secretary of State Marco Rubio on Sunday called on China to encourage Iran not to shut down the Strait of Hormuz after ...

Though seen as a drastic option, the most powerful tool Iran has to shock the global economy and hurt the U.S. is to close traffic on the strait, said Danske Bank chief analyst Minna Kuusisto. Doing ...

Attacks on Iranian nuclear sites have thrust the US into the escalating conflict between Israel and Iran. President Donald Trump warned further US intervention was possible as the world awaits an ...

President Donald Trump is talking up the possibility of regime change in Iran after the U.S. joined Israel in bombing Iranian ...

Investors are largely shrugging off escalations in the Middle East, with many strategists believing the conflict to be ...

Global markets have appeared to take the U.S. strike against nuclear targets in Iran in stride. The price of oil initially ...

A US strike on Iran’s nuclear sites has pushed oil prices higher and raised fears of regional fallout, with markets watching for Iran’s response.. US-Iran Clash Sends Shockwaves Through Oil and ...