US military says it helped Gulf states export 1.5 billion barrels of oil
US Central Command says more than 3,000 commercial vessels have transited the Strait of Hormuz with its support.
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US Central Command says more than 3,000 commercial vessels have transited the Strait of Hormuz with its support.
Bloomberg Economics Chief Emerging Markets Economist Ziad Daoud tells Bloomberg This Weekend that the risk of renewed fighting between the US, Israel and Iran is rising, helping keep oil prices elevated even as energy flows through the Strait of Hormuz recover. Speaking with hosts David Gura and Christina Ruffini, Daoud says the conflict could remain a long-term stalemate, with heightened shipping costs, depleted stockpiles and escalating regional tensions continuing to threaten global energy supplies. (Source: Bloomberg)
Two 'unauthorised' supertankers hit naval mines near the Strait of Hormuz on Friday, according to Iran’s Revolutionary Guard navy. On Thursday, a ship transiting the strait was hit by an unknown projectile, the UK reported.
Brent oil traded at the highest level since May on Friday. Iran-backed Houthi militants claimed recent attacks on the Saudi Red Sea port of Yanbu, as well as deadly strikes on an oil field and airport in the kingdom. The flareup threatens to widen hostilities around the Strait of Hormuz, where crude exports have recovered to near prewar levels. Abeer Abu Omar reports on Bloomberg Television. (Source: Bloomberg)
Qatari and French leaders stress need to restore freedom of navigation in Strait of Hormuz.
Oil rose following a deadly attack on a Saudi oil field, raising concerns that escalating hostilities in the Middle East could hit supply even as exports through the Strait of Hormuz have accelerated in recent months.
Kuwait Petroleum Corporation CEO Sheikh Nawaf Al-Sabah said that company told customers that it would do 'everything possible' to ensure shipments of crude would continue despite the closure of the Strait of Hormuz. Al-Sabah said that the company has been able to produce over 2 million barrels a day and is looking into future pipelines to move crude. (Source: Bloomberg)
King Charles III pays tribute to Muscat's 'noble efforts' to help reopen the Strait of Hormuz.
Filipino seafarer Jay was on lookout duty aboard a vessel passing through the Strait of Hormuz one evening in August when drones swarmed overhead, darting past his ship and two others it was following. Within seconds, an explosion rang out from the tanker ahead. “That was traumatic for me when I saw that the tanker ahead of our vessel had been hit,” said Jay, whose real name has been withheld to protect him from possible employer retribution. The 29-year-old and his fellow crew members made it...
Oil wavered as traders weighed the prospect of an escalation in hostilities by Iran in the Strait of Hormuz against robust crude flows from the Persian Gulf.
GCC states have pressed Moscow to help halt Iranian attacks and reopen the Strait of Hormuz.
The vessels, each carrying about two million barrels of crude oil, used an unauthorised route, the IRGC says.
Iranian state TV aired footage claiming to show an oil tanker exploding after striking a naval mine in Hormuz
The pontiff will give the traditional Angelus prayer and blessing in St Peter's Square on Sunday.
Two vessels have been struck with naval mines in the Strait of Hormuz this week.
Two vessels have been struck with naval mines in the Strait of Hormuz this week.
Trump says the US Navy blockade has stopped all Iranian ships from crossing the Strait of Hormuz.
Accelerating crude exports through the Strait of Hormuz aren’t translating into higher production of a dirty shipping fuel, according to a top Vitol Group executive, tightening supplies and sending prices soaring.
Video shows containers and debris scattered around the Strait of Hormuz due to the recent attacks on vessels.
A cargo ship sank in the Strait of Hormuz after a strike that sparked a fire and the evacuation of crew members, the Maritime and Port Authority of Singapore said.