All posts tagged: iShares Global Energy ETF

Trump calls Strait of Hormuz the ‘Strait of Trump’

Trump calls Strait of Hormuz the ‘Strait of Trump’

Published by Sam Flores

President Donald Trump speaks during the Future Investment Initiative Summit in Miami, March 27, 2026. Mandel Ngan | AFP | Getty Images President Donald Trump on Friday winkingly referred to the Strait of Hormuz, the vital oil-shipping route and a key choke point in the Iran war, as the “Strait of Trump.” Iran has to “open up the Strait of Trump — I mean, Hormuz,” the president said in a speech at the Future Investment Initiative in Miami, garnering laughs from the crowd. “Excuse me. I’m so sorry. Such a terrible mistake,” he said, feigning apologetics before clarifying, “The fake news will say, ‘He accidentally said’ — No, there’s no accidents with me, not too many. If there were, we’d have a major story.” The comment came as the strait has emerged as a key source of conflict in the war, which is poised to enter its second month even as the U.S. boasts that it has “obliterated” Iran’s military. Iran’s continued ability to effectively block the strait — blocking the path that normally ferries …

Trump extends pause on attacking Iran energy facilities to April 6

Trump extends pause on attacking Iran energy facilities to April 6

Published by Sam Flores

President Donald Trump on Thursday said he was extending an ongoing brief pause in attacking Iran’s energy facilities by 10 days, to April 6, at the request of the government of the Islamic Republic. Trump’s move avoids escalating the war with Iran at a time the United States has signaled it wants a negotiated end to the conflict and as the key Strait of Hormuz remains almost completely closed to oil shipments. His announcement came as key U.S. stock market indexes fell and oil prices rose. “As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction,” Trump said in a Truth Social post. “Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well. Thank you for your attention to this matter!” The original five-day pause on U.S. attacks on Iran’s power plants and energy infrastructure was due to end Friday. Trump had announced the first pause on Monday on Truth Social. …

Israel says it has killed Iran navy chief

Israel says it has killed Iran navy chief

Published by Sam Flores

FILE PHOTO: In this photo released by the Iranian Presidency Office, President Ebrahim Raisi waves as he visits an exhibition of the Revolutionary Guard navy capabilities while accompanied by the guard’s navy commander Alireza Tangsiri, in the southern port city of Bandar Abbas, Iran, Friday, Feb. 2, 2024. Iranian Presidency Office | AP Israel’s Defense Forces said Thursday that Iranian naval commander Alireza Tangsiri had been killed in a “precise strike” in the port city of Bandar Abbas, accusing him of being responsible for efforts to close the strategically vital Strait of Hormuz. The IDF said in a social media post that Tangsiri “oversaw maritime terrorism carried out against countries in the Middle East, as well as against U.S. and other nations’ energy infrastructure.” U.S. Central Command later confirmed Tangsiri’s death in a post on X. Tangsiri’s death from the Israeli airstrike “makes the region safer,” said the commander of CentCom, Adm. Brad Cooper, adding that strikes on the Iranian navy would continue. Iran has not yet commented on the report. Shipping traffic through the …

War puts the Gulf’s once‑packed conference calendar on hold

War puts the Gulf’s once‑packed conference calendar on hold

Published by Sam Flores

Before the Middle East war, the Gulf had positioned itself to become one of the world’s busiest hubs for conferences, exhibitions, and high‑level events. The United Arab Emirates, Saudi Arabia and Qatar have each worked hard to be seen as the crossroads for business, politics and innovation, hosting global sporting events from Formula 1 to high-stakes boxing championships and top-tier golf tournaments. The Gulf has also welcomed global CEOs, home to major business gatherings like the Future Investment Initiative in Riyadh, Web Summit in Doha and Abu Dhabi Finance Week. A delegate arrives at the King Abdulaziz Conference Centre in Saudi Arabia’s capital Riyadh to attend the Future Investment Initiative (FII) forum. Fayez Nureldine | Afp | Getty Images Now, as war grounds flights and threatens to destabilize the region’s carefully built future, events from cultural to crypto have been quietly rescheduled. Several high‑profile gatherings across the Middle East scheduled from March to May are being postponed, rescheduled or placed under review as organizers assess the impact of the current regional conflict, underscoring how geopolitical …

Trump postpones strikes on Iran power plants, energy infrastructure

Trump postpones strikes on Iran power plants, energy infrastructure

Published by Sam Flores

U.S. President Donald Trump on Monday said he would order the military to postpone strikes on Iran’s power plants and energy infrastructure for five days following “productive” dialogue regarding “total resolution” of hostilities in the Middle East. Trump said in a post on his Truth Social platform that the U.S. and Iran had “VERY GOOD AND PRODUCTIVE CONVERSATIONS REGARDING A COMPLETE AND TOTAL RESOLUTION OF OUR HOSTILITIES IN THE MIDDLE EAST.” The U.S. president said these talks would continue through the week. Oil prices tumbled on the news. U.S. President Donald Trump speaks during a meeting with Japanese Prime Minister Sanae Takaichi (not pictured) in the Oval Office at the White House in Washington, D.C., U.S., March 19, 2026. Evelyn Hockstein | Reuters His comments come shortly after he had given Iran 48 hours to reopen the strategically vital Strait of Hormuz. The narrow waterway is a key maritime corridor that connects the Persian Gulf and the Gulf of Oman. Roughly 20% of global oil and gas typically passes through it. This is breaking news. …

Trump controls the economy’s key levers, from oil to the Fed

Trump controls the economy’s key levers, from oil to the Fed

Published by Sam Flores

US President Donald Trump and Sanae Takaichi, Japan’s prime minister, during a meeting in the Oval Office of the White House in Washington, DC, US, on Thursday, March 19, 2026. Aaron Schwartz | CNP | Bloomberg | Getty Images Japanese Prime Minister Sanae Takaichi embraced President Donald Trump on Thursday, and not just on policy grounds. The newly elected Japanese leader threw herself into the arms of the U.S. president when he greeted her at the White House. “It is only you, Donald, who can achieve peace across the world,” Takaichi said later as the two met in front of reporters in the Oval Office. Beneath the flattery is an important truth. Trump is singlehandedly shaping the course of global events to a degree that far outstrips even the power he wielded in his first presidency. With his presidency unshackled, his military and other policy decisions are reshaping the economy in real time — and clouding the economic outlook. Trump’s predecessors weren’t willing to make the choice he did in Iran. President Barack Obama’s response …

Trump-Xi China summit may be delayed: Bessent

Trump-Xi China summit may be delayed: Bessent

Published by Sam Flores

Treasury Secretary Scott Bessent said Monday that the meeting between President Donald Trump and Chinese Leader Xi Jinping could be delayed for logistical reasons. Bessent spoke during an appearance on CNBC’s “Squawk Box.” Trump suggested Sunday that the summit could be delayed as the U.S. pressures China to help reopen the Strait of Hormuz. Bessent walked those comments back on Monday, arguing the summit would be delayed if Trump chooses to stay in Washington to coordinate the war effort in Iran. “If the meetings are delayed, it wouldn’t be delayed because the president demanded that China police the Strait of Hormuz,” Bessent said in an interview with CNBC’s Brian Sullivan in Paris. “If the meeting, for some reason, is rescheduled, it would be rescheduled because of logistics.” “It would be a decision the president made as commander in chief to stay in the White House or to stay in the United States while this war is being prosecuted,” he said. The comments also indicate that the White House is anticipating the war — which Trump …

UAE’s Fujairah hit, causing a large fire at the key oil trading hub

UAE’s Fujairah hit, causing a large fire at the key oil trading hub

Published by Sam Flores

A family sits against the backdrop of a dockyard off the coastal city of Fujairah, in the Strait of Hormuz in the northern Emirate on Feb. 25, 2026. Giuseppe Cacace | Afp | Getty Images A drone attack at the United Arab Emirates’ key oil trading hub of Fujairah triggered a large fire, authorities said on Monday, with no injuries reported. “Civil Defense teams in the Emirate immediately responded to the incident and are continuing their efforts to control it,” Fujairah Media Office said on social media, according to a Google translation. Oil loading operations at the major oil bunkering hub had been suspended as a result of the drone attack, Reuters reported, citing two unnamed sources. CNBC has contacted the UAE’s ADNOC and is awaiting a response. The attack comes after a separate drone strike and fire at Fujairah on Saturday, underlining the vulnerability of the UAE’s only export route that bypasses the strategically vital Strait of Hormuz. Shipping traffic through one of the world’s most important energy choke points has virtually ground to …

FCC chair Carr slams broadcasters after Trump disputes tanker reports

FCC chair Carr slams broadcasters after Trump disputes tanker reports

Published by Sam Flores

FCC Chairman Brendan Carr testifies during a House Energy and Commerce Communications and Technology Subcommittee hearing on “Oversight of the Federal Communications Commission” on Capitol Hill in Washington, DC, on Jan. 14, 2026. Saul Loeb | AFP | Getty Images Federal Communications Commission Chair Brendan Carr on Saturday blasted broadcasters shortly after President Donald Trump called reports that Iran struck five U.S. tanker planes “fake news.”  In a post on X, Carr also warned that broadcasters will lose their licenses if they don’t “operate in the public interest.”  “Broadcasters that are running hoaxes and news distortions – also known as the fake news – have a chance now to correct course before their license renewals come up,” Carr wrote in the post, which attached Trump’s statement on Truth Social earlier Saturday.  “It is very important to bring trust back into media, which has earned itself the label of fake news,” Carr added. The Wall Street Journal reported on Friday that five refueling tankers were struck during an Iranian missile strike on the Prince Sultan air …

Trump can’t ‘drill, baby, drill’ his way out of this Iran oil crisis

Trump can’t ‘drill, baby, drill’ his way out of this Iran oil crisis

Published by Sam Flores

President Donald Trump promised to “drill, baby, drill” on the presidential campaign trail. It’s not going to bail him out of this oil crisis spurred by the war he started in Iran, lawmakers and analysts say. Trump and Republicans last year aggressively ramped up policies favorable to fossil fuels after romping to an electoral victory in 2024 on a promise to lower the cost of living, including by quelling gas prices. Their signature domestic policy bill, known as the “one big beautiful” tax and spending measure, opened up swaths of new land to oil and gas leasing. The administration has moved to slash regulations that the fossil fuel industry views as hurdles. And it has pursued an aggressive leasing schedule to get more rigs operating on federal lands and waters. Now, Trump is confronted with a crisis there’s little chance of drilling his way out of. The war in Iran has whipsawed oil markets as the Strait of Hormuz has remained largely impassible. The strait carries about 20% of the world’s oil supply. And the …