An oil slick was detected off Iran’s Kharg Island, a central hub for the country’s crude exports, The New York Times reported, citing satellite images. The alleged spill that caused the slick took place on the island’s western side and was estimated by Orbital EOS to cover more than 52 square kilometres, with over 3,000 …
Rystad Energy said reports of a U.S.-Iran peace deal are gaining credibility, but warned that, even if a deal is made, “the consequences for physical oil markets will be slower and more conditional than futures prices are currently pricing in”. Rystad Energy Chief Oil Analyst Paola Rodriguez-Masiu, who is based in the Netherlands, stated in …
Continue reading “Physical Oil Market Does Not REFLECT the under priced paper market”
The US is waiting on Iran to respond to its proposal to reopen the Strait of Hormuz and end a war that’s killed thousands of people, with tensions still high in both the Persian Gulf and in Lebanon. Iran’s leaders are yet to indicate whether they’ll accept the terms of the deal, though they’ve previously …
Continue reading “US Waits on Iran’s Peace Deal Response as Israel Strikes Lebanon”
A “breakthrough” to restart movement for stranded ships through the Strait of Hormuz is “expected in the coming hours,” Saudi Arabia’s state-owned and operated Al-Hadath television channel reported on Thursday. “A breakthrough regarding the ships stranded in the Strait is expected in the coming hours,” the outlet predicted. “Agreements have reportedly been reached regarding easing …
Continue reading “Saudi TV: Hormuz transit breakthrough within hours”
United States Central Command (CENTCOM) stated on Wednesday that the aircraft carrier USS George H.W. Bush (CVN 77) is fully enforcing the US naval blockade against Iran. The carrier had been part of US President Donald Trump’s Project Freedom before he announced the operation would be “paused for a short period of time.” Up to now, …
US President Donald Trump on Wednesday pushed back against reports that a peace agreement with Tehran may be getting close. When asked if a fresh round of negotiations with Pakistan was on the horizon, requiring media presence at the site, the American leader replied, “I don’t think so” to the New York Post. “I think we’ll …
Continue reading “Trump: Too soon to talk about signing Iran deal”
The US believes it’s close to an agreement with Iran to end the near 10-week war, Axios reported, as China added its voice to global diplomatic pressure to wrap up the conflict. Washington and Tehran are working on a one-page memorandum of understanding that would set a framework for more detailed nuclear negotiations, Axios said Wednesday, citing …
Continue reading “US Boosts Efforts to End Iran War as Trump Suspends Hormuz Plan”
The prices of oil futures declined on Wednesday, with West Texas Intermediate (WTI) falling more than 7% and slipping below the $95 mark after reports that Iran and the US were getting close to a one-page memo to end the war. US officials are said to be expecting Iran’s response to several key points in the …
Continue reading “Oil falls over 6% on report US-Iran close to deal”
The White House is nearing a one-page Memorandum of Understanding (MOU) with Iran to end the conflict and launch nuclear negotiations, Axios reported on Wednesday, citing sources, which added that the parties were at their closest point to reach a deal since the start of the conflict. Under the proposal, Iran would have to accept …
Continue reading “US, Iran said to be closest to deal since war started”
The United Arab Emirates said it was under attack from Iranian missiles and drones on Tuesday, even as Washington said a shaky ceasefire was intact despite an exchange of fire the previous day as U.S. forces attempted to force open the Strait of Hormuz. The U.S. military said it had destroyed six Iranian small boats, as …
Continue reading “US says Iran ceasefire holds despite exchange of fire; UAE under attack”