Hormuz Closure Could Push UK Into Recession

By BPN News Desk August 3, 2026

International

The UK economy could fall into recession in 2027 if disruption to shipping through the Strait of Hormuz continues into next year, according to economic forecasts published by EY. Hormuz Closure Could Trigger UK Recession Under EY’s prolonged-disruption scenario, the British economy would grow

International

Iran Attacks Five Gulf Nations, Closes Hormuz

By BPN News Desk July 12, 2026

Iran launched missile and drone attacks against targets in five Gulf countries and declared the Strait of Hormuz closed after the United States carried out its third major round of strikes within a week. The escalation has intensified fears of a wider regional conflict and prolonged disruption to global energy supplies. Iran Attacks Five Gulf […]

International

Iran Links Hormuz Reopening To Lebanon Truce

By BPN News Desk June 21, 2026

Iran has reportedly said the Strait of Hormuz will remain closed to oil shipments until a ceasefire in Lebanon is firmly upheld and waivers for Iranian oil sales are issued, adding fresh uncertainty to global energy markets. Strait Of Hormuz Closure The reported position links the reopening of one of the world’s most important oil […]

International

Oil Prices Surge After Hormuz Closure

By BPN News Desk June 11, 2026

Oil prices rose sharply after Iran announced the closure of the Strait of Hormuz, one of the world’s most important energy shipping routes, following fresh US air strikes on Iranian targets. Oil Prices Rise After Strait Of Hormuz Closure Brent crude futures climbed by $2.30, or 2.47 percent, to reach $95.40 per barrel. US West […]