Tag: OilMarkets
Iran Rejects Oman’s Hormuz Strait Plan
Iran's Deputy Foreign Minister Kazem Gharibabadi rejected Oman's proposal for joint management of the Strait of Hormuz, saying on Iranian state television that it failed to address Tehran's security concerns, according to IranWire. Oman had proposed splitting the shipping lane evenly, with half under Iranian control and half under Omani…
Iran Rejects US Ceasefire Timeline as Oil Falls
Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Monday that Tehran has no active negotiations with Washington, even as global oil prices posted their steepest one-day decline since early April. Brent futures, the global benchmark, closed at $85.87 a barrel, down 11.3 percent, while US crude fell about 7 percent to…
US Pauses Iran Strikes After Two-Week Bombing
US Central Command reported no new strikes on Iran as of Saturday morning. The National noted the halt followed 13 consecutive nights of announced attacks on Iranian military targets. The campaign had run without a break since a prior ceasefire collapsed earlier in the month.Trump framed the pause as tied…
Houthis Claim Aramco Strike as Satellite Data Show Fires
Yemen's Houthi movement said it struck a Saudi Aramco oil facility in Jizan overnight with missiles and drones, claiming the attack sparked fires at the site. Satellite fire-detection data later showed multiple thermal hotspots within the industrial complex, although Saudi authorities and Aramco had not confirmed the extent of any…
Cheap Drones Are Rewriting Energy Security
For decades, governments measured energy security by asking whether oil and gas could move safely across oceans and pipelines. The principal threats were conventional wars, naval blockades, piracy or attacks on a handful of high-profile facilities. Protect the sea lanes, defend a few critical chokepoints and maintain strategic reserves, the…
Russia Gains From Iran War Without Fighting
Russia's Kremlin spokesman, Dmitry Peskov, offered perhaps the clearest insight into Moscow's thinking from a podium rather than a battlefield. Briefing reporters on July 15, Peskov said the Kremlin was watching Washington's growing preoccupation with the war against Iran, suggesting the conflict had inevitably shifted American attention away from Ukraine.…
U.S. and Iran Trade Strikes as Truce Unravels
The United States and Iran exchanged another round of strikes on Wednesday, the fourth consecutive night of fighting since the ceasefire framework agreed last month effectively collapsed.U.S. forces struck Iranian military targets near the Strait of Hormuz and along Iran's southern coast as Washington expanded maritime operations aimed at restricting…
Hormuz Stays Open as Security Risks Disrupt Global Shipping
Iran has not issued a formal decree closing the Strait of Hormuz, but the distinction between "open" and "closed" is becoming increasingly misleading. Tracking data compiled by the Center for Strategic and International Studies (CSIS) indicate that commercial traffic through the strait has yet to recover to pre-conflict levels, while…
Russia Bans Diesel Exports as Ukrainian Drone Campaign Hits Fuel Supply
Russia has suspended diesel exports until at least the end of July after months of Ukrainian drone strikes disrupted refineries, fuel depots and fuel transport infrastructure, forcing Moscow to prioritize domestic supply over overseas sales. The suspension is not a routine market intervention. Russian refiners have historically produced roughly twice…
