Iran-us standoff blocks strait of hormuz, sending oil prices soaring

A tense standoff between the US and Iran has brought maritime traffic to a standstill in the Strait of Hormuz, with no signs of progress in diplomatic talks. President Donald Trump has vowed to maintain the blockade until Iran agrees to a deal, while Tehran insists it will not negotiate or open the strait as long as the US embargo remains in place.

Oil prices reach four-year high

The escalation of tensions has ended Wall Street's historic rally, as oil prices surged above $100 per barrel for the first time in nearly four years. Soaring gasoline prices in the US, now at their highest level in almost four years, are mounting pressure on Trump. Amid this backdrop, European leaders are meeting in Cyprus to debate measures to ease the impact of the energy shock.

Market volatility hits tech stocks

Wall Street tumbled following the release of key earnings reports, including those from Boeing and Tesla. Tesla shares plummeted 1.22% after CEO Elon Musk announced a boost in capital expenditures and a