Gulf oil output collapses ~57%, down ~14.5M bpd, as war disrupts production in Saudi, Iraq, UAE, Iran. Goldman warns Hormuz reopening may take months.

British Airways owner warns ticket prices set to rise after Strait of Hormuz closure amid Iran war.

The owner of British Airways has warned that ticket prices will rise following the closure of the Strait of Hormuz amid the war with Iran.

Chevron CEO says Strait of Hormuz mines threaten global energy economy even if US-Iran peace talks yield deal. Mike Wirth warns lingering uncertainty persists.

Chevron CEO Mike Wirth expressed concern about mines in the Strait of Hormuz, noting that even if US-Iran peace talks result in a deal, the impact on the global energy economy will persist due to uncertainty.

Chevron CEO: US Navy may need to escort vessels through Strait of Hormuz after reopening, citing security concerns.

Chevron's CEO said the U.S. Navy may need to escort commercial vessels through the Strait of Hormuz once it reopens, to ensure security.

Oilfield services firms SLB and Baker Hughes see exploration spending rising as the Iran war disrupts supply. The forecast underscores the impact of geopolitical tension on energy markets.

SLB and Baker Hughes forecast rising oil exploration spending due to supply disruptions from the Iran war.