United States President Donald Trump announced that, “from this point forth,” Washington will be using Iranian money it “controls” to pay for all damages done to ships, cargo, or anything related. The frozen assets will cover the damages “until further notice,” Trump wrote on Truth Social. “These damages may be very substantial but, nevertheless, this …
Continue reading “Trump: US will use Iranian money to pay for ship damages”
US President Donald Trump told Axios on Thursday he was seriously thinking about resuming military actions against Iran that would be larger than the scope of the previous “Operation Epic Fury.” “I am considering a massive attack. Bigger than ever before. I am close to making a decision. We are all set for it,” Axios …
Continue reading “Trump may approve ‘massive’ attack on Iran”
Crude oil prices rose more than 3% on Thursday after Yemen’s Houthi rebels targeted Saudi Arabia’s oil tankers in a combined missile-drone attack. In addition, Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed that a vessel trying to transit through the southern mine-laid route off the coast of Oman was set alight. US President Donald Trump previously warned that …
Continue reading “Oil up 3% as Houthis escalate Middle East conflict”
Washington has supposedly informed Israel of its plans to intensify attacks on Iran in the coming days, employing some heavy bombers not used since the conflict started, Israeli Kan News reported on Wednesday. The news outlet also reported that Israel raised an alert about the possibility of a confrontation with Iran in case of an …
Continue reading “US said to inform Israel of plans to intensify Iran strikes”
Dimitris Maniatis, CEO of Greek maritime risk management firm Marisks, told CBS News on Wednesday that while the Strait of Hormuz route remains physically open, large international merchant vessels are effectively staying away. “There’s nothing physically obstructing the navigation of any vessel willing to transit the strait, and there are vessels that trade locally and …
Continue reading “Shipping insider says ‘nothing going through’ Hormuz”
The United States Central Command (CENTCOM) said it carried out an 11th straight night of strikes against Iran. In a statement issued on social media, CENTCOM said the US targeted Iran’s military command centers, aircraft hangars, drone storage sites, maritime assets and logistics facilities. The command accused Iran of attacking more than 30 commercial ships in …
The United Kingdom Maritime Trade Operations (UKMTO) Centre announced on Tuesday that, according to a briefing from the Joint Maritime Information Center (JMIC), the maritime security risk level in the Strait of Hormuz remains severe. Fourteen Iranian strikes since June 25 “have kept the threat level at SEVERE, with deliberate hostile action assessed as highly …
O il prices climbed more than 1% on Tuesday, with Brent going above $90 per barrel once again, after Yemen’s Houthi rebels warned shipping companies to avoid Saudi Arabia’s ports. The rebel group sent an email to multiple shipping firms, urging them not to load or discharge cargo at any Saudi ports. “We strongly recommend …
Continue reading “Oil up 1% as Houthis warn firms to avoid Saudi ports”
International Energy Agency (IEA) Executive Director Fatih Birol said on Tuesday that the renewed hostilities in the Middle East increase concerns regarding the security of oil supply and uncertainty about the market outlook. He noted that threats to close the Bab el-Mandeb Strait add to the issues already facing the Strait of Hormuz. Birol said the …
Continue reading “IEA notes concerns about security of oil supply”
Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy shared that four ships attempted to use intel provided by the US to stray from shipping routes designated by Tehran on Sunday. The vessels allegedly switched off their navigation systems and, ignoring warnings from the Iranian control base, intended to exit the Strait of Hormuz via an “unsafe …