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 …
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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 …
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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 …
The United States Central Command (CENTCOM) announced it carried out strikes on Iranian military sites for an eighth straight night. CENTCOM said US forces struck Islamic Revolutionary Guard Corps (IRGC) units linked to attacks on US service members in Jordan on Friday. The targets included coastal surveillance systems, air defenses, naval capabilities and missile and drone …
Iran launched more attacks on Washington’s Gulf allies and Jordan on Saturday after a seventh straight night of U.S. strikes on Iranian military targets, escalating the war one week after a ceasefire collapsed. Kuwait came under sustained attack, with a desalination plant hit and operations at Kuwait International Airport suspended due to repeated missile and drone …
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Several US troops were injured in an Iranian strike on their facility in Jordan, multiple unnamed US officials told CBS News. The sources, who spoke on the condition of anonymity, did not offer further details, though they stated that no fatalities were recorded among US or Jordanian military personnel so far. Iranian forces repeatedly targeted …
The world feared the Iran war’s disruption of the Strait of Hormuz would trigger historically high oil prices. Yet the worst hasn’t happened yet, and the reasons for that may hint at a rewiring of global energy flows. That unexpected resilience of markets has many explanations, but it’s forcing a bigger question: does the world …
Continue reading “The Iran War Is Driving The World Into Another Dark Age”
The world feared the Iran war’s disruption of the Strait of Hormuz would trigger historically high oil prices. Yet the worst hasn’t happened, and the reasons for that may hint at a rewiring of global energy flows. That unexpected resilience of markets has many explanations, but it’s forcing a bigger question: does the world simply …
Continue reading “The Iranian War Will Drive A New Dark Age”
Houthis await signal to hit shipping, source says Red Sea disruption would deepen energy crisis Saudi Arabia takes threat seriously, regional source says Iran has asked Yemen’s Houthi movement to stand ready to close the Red Sea oil route if the United States strikes Iranian power infrastructure, three sources told Reuters on Thursday, posing …
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The US launched attacks against Iran for a fifth day after Tehran hit Kuwait with the heaviest wave of strikes in weeks, leaving an interim peace deal in tatters. The European Union Aviation Safety Agency raised its threat level for airlines in the Middle East, cautioning carriers to avoid the region amid a heightened threat of missile and drone …
Continue reading “Trump Vows to Intensify Iran Attacks as Oil Climbs”