U.S. President Donald Trump threatened more strikes on Iran’s main oil export hub Kharg Island and said he was not ready for a deal with Tehran to end the war which has shut off the vital Strait of Hormuz and caused chaos in global energy markets. With the U.S.-Israeli war on Iran in its third week, Trump said …
Iran launched another wave of missile attacks against Israel, for the fifth time during the night and early hours on Sunday, local time. Sirens were activated in southern Israel amid Iran’s latest attack. Concurrently, rockets from Lebanon triggered alarms in central parts of the country, presumably by Hezbollah. There were no immediate reports of casualties …
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No one in their right mind would dare short oil SEB report on Friday, Skandinaviska Enskilda Banken AB (SEB) Chief Commodities Analyst Bjarne Schieldrop stated in a adding that “oil is thus set to close the week at a very strong note today”. Schieldrop warned in the report that the “big, big risk” for the …
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United States President Donald Trump claimed that “moments ago,” his country “obliterated” all military targets in Kharg Island, located in the Persian Gulf northwest of the Strait of Hormuz, which he described as “Iran’s crown jewel.” Writing on Truth Social, Trump insisted that “for reasons of decency,” he chose against striking the island’s oil infrastructure. …
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The Pentagon is considering whether to deploy additional warships near the Strait of Hormuz to protect oil tankers from Iranian attacks, The Wall Street Journal reported on Friday, citing two US officials. According to the report, any actual escort mission would not begin until they consider that Tehran doesn’t pose a threat in the region, …
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British Defense Secretary John Healey said on Thursday that it is likely that Iran has planted mines in the Strait of Hormuz. He added that the United Kingdom has deployed autonomous mine-hunting systems in the region and that he is considering additional options to secure the area. However, he insisted that de-escalation is the fastest …
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Iran’s newly named Supreme Leader, Ayatollah Mojtaba Khamenei, said that the Strait of Hormuz must remain closed in his first message since becoming the country’s supreme leader. After days of suspense, we’ve finally heard from Iran’s new supreme leader – though we’re still yet to see him, likely because of security concerns or his injury in …
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United States Energy Secretary Chris Wright said on Thursday that the US Navy is not ready to escort tankers through the Strait of Hormuz, as it is focused on offensive operations. He said the military is “working on it” and predicted that it will likely be ready for escort missions by the end of the …
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The International Energy Agency (IEA) announced in its latest monthly oil report on Thursday that the ongoing conflict in the Middle East has created “the largest supply disruption in the history of the global oil market.” The agency now expects the oil supply growth in 2026 to reach an average of 1.1 million barrels per …