United States President Donald Trump said on Friday that he will soon declare the Strait of Hormuz American territory. “Pretty soon, I’ll be declaring the Hormuz Strait a territory of the United States. Essentially, that’s what it is,” Trump said. “We have the blockade; no ships get through unless we want them to,” he added, …
The global refining system has little spare room left to respond. S&P Global Energy Global Head of Fuels and Refining Research at S&P Global Energy, said in analysis piece by the S&P Global Energy Fuels and Refining team. “Outside constrained markets such as Russia, the Middle East, and China, much of the remaining global refining …
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Tankers moving along the Strait of Hormuz dwindled further this week, with only five crossings on Wednesday and nine crossings on Thursday, down from a monthly average of 12 crossings, according to data from Kpler, as cited by Reuters. Five tankers went into the waterway yesterday, according to the data, and four exited it, most …
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Crude oil prices rose 2% on Friday, as traders monitored the latest developments around the conflict in the Middle East, fearful of the risk of further escalation. United States Defense Secretary Pete Hegseth stated yesterday that the US is capable of holding a naval blockade of Iranian ports “indefinitely,” while US Treasury Secretary Scott Bessent shared earlier that Washington …
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No commercial ship can safely pass through the Strait of Hormuz without Iran’s permission and supervision, an Iranian Armed Forces spokesperson reiterated on Thursday. He dismissed the United States’ claims of control over Hormuz as proof of the “desperation and helplessness” of its military. The spokesperson said the Iranian military continues to monitor the movements of …
Oil flows from the Middle East have normalized, with Sunday traffic alone above pre-conflict averages, U.S. Secretary of Energy Chris Wright said on Tuesday in a claim that appears not to be backed by ship-tracking data. On Tuesday, Secretary Wright posted on X that “Thanks to the coordinated efforts of the U.S. military and our gulf …
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The United States and Iran have agreed to extend the bilateral ceasefire, Turkey’s Anadolu news agency reported on Wednesday, citing Pakistani government officials. The alleged deal comes as the 60-day ceasefire in the memorandum of understanding, signed on June 17, is set to expire next week. Pakistan has remained involved as a mediator throughout the negotiation process, …
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Iran said Monday that any deal with Oman on shipping in the Strait of Hormuz would not lead to the waterway being fully reopened and that the route would remain closed until the United States agreed to demands including lifting a naval blockade. The comments were the latest sign that Iran sees its grip on …
NEW DELHI, Aug 11 (Reuters) – Shipping traffic through the Strait of Hormuz fell to six on Monday, compared with a 10-day average of about 11 vessels, shipping data showed, amid fading hopes of a peace deal between the U.S. and Iran. Four commodity vessels, including two empty oil product tankers, entered the waterway, data …
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US President Donald Trump hardened his stance toward Iran as negotiations to reopen the Strait of Hormuz continue, pronouncing that the Islamic Republic must pay reparations for past attacks. Trump made his sweeping new demands on Monday after accusing Tehran of itself seeking compensation for war damages through public statements even though the issue had …
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