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U.S. President Donald Trump on Thursday said he believed Iran's Supreme Leader Mojtaba Khamenei had approved a deal with the U.S. that would trigger the opening of the Strait of Hormuz and the lifting of a U.S. blockade on Iranian ports. When asked by a reporter at the White House whether Khamenei had approved the deal, Trump said: "I understand the answer is yes." Trump described the deal as "a very strong memorandum of understanding," adding it was "a little conceptual, but it's [Read more]

U.S. President Donald Trump said on Thursday the Strait of Hormuz would be opened as soon as a "great settlement" of the war in Iran was signed, an event he said he expected would happen within days. "We just made a great settlement of the war with Iran", Trump told reporters in the Oval Office. "The strait will officially open as soon as we sign, which could be soon, very soon, maybe over the weekend in Europe," he said. (Reporting by Humeyra Pamuk, Katharine Jackson; Editing by David [Read more]

U.S. President Donald Trump said he hascanceled planned strikes against Iran on Thursday, hours after threatening more bombings and a desire to "take" oil export hub Kharg Island. "Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening," Trump wrote in a post on Truth [Read more]

U.S. President Donald Trump on Thursday said the United States would hit Iran "very hard tonight" and that he wanted to eventually seize Kharg Island, the export heart of one of the world's largest oil producers. Following are key facts on Iran's energy industry: KHARG ISLAND The third-largest producer in the Organization of the Petroleum Exporting Countries, Iran exports 90% of its crude via Kharg Island, which sits 16 miles (26 km) from Iran's coast in the northern end of the Gulf, [Read more]

The Iran war has become an additional driver of demand for gas turbines, Siemens Energy executives said on Thursday, at a time when manufacturers are already flooded with orders due to the massive data centre expansion in the United States. Along with rivals GE Vernova and Mitsubishi Heavy Industries, Siemens Energy has seen demand for gas turbines soar as so-called hyperscalers invest more than $700 billion in energy-hungry artificial intelligence, in turn driving demand for new energy [Read more]

President Donald Trump said on Thursday he wants to take over Kharg Island, Iran's oil infrastructure hub. Analysts say the U.S. military could seize the island quickly, but the move could leave U.S. troops in great peril and prolong rather than shorten the war. WHERE IS KHARG ISLAND AND WHY IS IT IMPORTANT? Kharg Island sits 16 miles (26 km) from Iran's coast in the northern end of the Gulf, about 300 miles (483 km) northwest of the Strait of Hormuz. It lies in waters deep enough to [Read more]

FREDERICTON - The CEO of New Brunswick's electricity utility says its proposal for a natural gas-powered generating station remains the best option for avoiding blackouts within the next two years. Lori Clark told a legislative committee this morning that the project was fast-tracked with customers' best interests in mind. She says the Crown corporation changed its regular approval methods to speed up the project. Clark's comments come after the province's auditor general issued a [Read more]