Tag: Oil
Most Ships Risking Hormuz Take Iran’s Route
Commercial traffic through the Strait of Hormuz has fallen roughly 70% since fighting resumed, and the ships still crossing overwhelmingly favor the route Iran designates over an alternative corridor backed by the United States.Crossings dropped from about 45 a day during the June 7–July 7 truce to around 13, according…
Houthis Expand Attacks to Saudi Oil Corridor
Yemen's Houthis said they launched drones on July 27 at crude oil supply and transportation sites linking eastern Saudi Arabia with Yanbu, extending their campaign beyond port facilities and shipping lanes toward infrastructure feeding the kingdom's East-West oil corridor.Houthi military spokesman Yahya Saree said the operation targeted several "sensitive" points…
Gulf Oil Faces a Two-Strait Trap
The thesis works with two qualifications: the Gulf is not completely sealed because the UAE retains its Fujairah outlet, and American energy companies may benefit while the United States as a whole absorbs higher prices and military costs.The Houthi missile and drone attack claimed against Saudi Aramco facilities in Jizan…
Hormuz Traffic Falls to Just Three Vessels
Commercial traffic through the Strait of Hormuz fell to just three commodity vessels on Tuesday, down from four the previous day, according to shipping data cited by Reuters. No very large crude carriers or liquefied natural gas (LNG) carriers were observed making the transit.The decline is not primarily a story…
Billions From Venezuelan Oil Remain Unaccounted For
The Trump administration has collected an estimated $13 billion from Venezuelan oil exports since assuming control of the country's oil sales in January, according to a Financial Times investigation.Public records account for only about $300 million reaching Caracas.The first cargoes, sold to traders Vitol and Trafigura at a discount, were…
Iraq, Syria Sign Deal to Revive Mediterranean Oil Route
Iraq and Syria signed a memorandum of understanding in Washington on Friday to rehabilitate the long-idled Kirkuk–Baniyas crude oil pipeline, advancing plans to reopen a Mediterranean export route as the war around the Strait of Hormuz exposes Baghdad's dependence on Gulf shipping lanes.The memorandum was among roughly 50 agreements worth…
