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Gulf Of Hormuz

All articles tagged with #gulf of hormuz

Oil rebounds to prewar levels as Gulf shipment surge eases pressure
markets20 days ago

Oil rebounds to prewar levels as Gulf shipment surge eases pressure

Brent crude slipped to about $72.40 a barrel, dipping back to prewar levels as a wave of Gulf oil shipments flows out and traders reassess risks. About 31 tankers left the Gulf, while US data indicated roughly 20 million barrels had moved through the Strait of Hormuz in the past 24 hours, signaling a short‑term oversupply relief. Analysts say prices may stabilise with a floor around $80–$90, with a gradual rise expected in the coming weeks if supply keeps pace and demand remains supportive, though risks from the broader conflict linger.

via Financial Times|
#energy#gulf-of-hormuz#markets
world2 months ago

Drones strain Gulf ceasefire as ship fire setback opens new front

A fragile month‑old ceasefire in the Iran war was tested again as a drone set a small fire on a cargo ship off Qatar, with UAE and Kuwait reporting separate drone incursions. Iran was blamed by the UAE, and the broader region reported multiple airspace violations as Washington says the ceasefire remains in effect while pushing for a deal to reopen the Strait of Hormuz and roll back Iran’s nuclear program. The episode follows recent attacks on vessels and U.S. strikes, with Pakistan mediating and regional powers warning of escalation amid ongoing efforts to broker peace and stabilize global oil markets.

via Politico|
#ceasefire#drones#gulf-of-hormuz
Iran escalates Gulf confrontation by targeting AWACS and refuelers
world3 months ago

Iran escalates Gulf confrontation by targeting AWACS and refuelers

Since the US-Israel campaign against Iran began, Tehran has stepped up attacks on US assets in the Gulf, including strikes in Saudi Arabia, the UAE, Bahrain, Jordan and Kuwait that reportedly damaged KC-135 tankers and an E-3 AWACS, wounded US service members, and targeted radar and THAAD facilities; analysts warn the loss of AWACS would create surveillance gaps while the US seeks replacements like the E-7 Wedgetail; the flare-up has boosted oil prices and raised concerns of broader operations.

via Al Jazeera|
#awacs#gulf-of-hormuz#iran
Gulf shipping hit as Iran-linked drones and mines spark waves of attacks
world4 months ago

Gulf shipping hit as Iran-linked drones and mines spark waves of attacks

Six vessels in the Gulf and Iraqi waters were attacked amid reports of Iranian explosive-laden boats and sea mines. Two Iraqi-bound fuel tankers, Safesea Vishnu and Zefyros, were set ablaze with one crew member killed and 25 rescued; Mayuree Naree suffered a hit with three crew members missing, while ONE Majesty and Star Gwyneth were damaged. The incidents occur amid broader tensions over the Strait of Hormuz, with Iran accused of mine deployment and international navies monitoring the situation, including US claims of strike activity against mine-laying vessels.

via Al Jazeera|
#gulf-of-hormuz#iran#maritime-security
Gulf war-risk insurance pulled as Iran conflict disrupts shipping
business4 months ago

Gulf war-risk insurance pulled as Iran conflict disrupts shipping

Mutual marine insurers have cancelled war-risk coverage for vessels in the Gulf and Iranian waters as the Iran conflict escalates, prompting rerouting around Africa and higher costs. War-risk premiums could rise around 50%–100% (or more), pushing freight rates higher as routes tighten; CMA CGM and others have added surcharges, and several carriers are diverting Red Sea sailings, though Hormuz’s small share of global container traffic limits immediate systemic impacts.

via The Guardian|
#business#freight-rates#gulf-of-hormuz