Aramco warned the Strait of Hormuz disruption from the Iran war could have “catastrophic consequences” for global oil markets and trigger ripple effects across shipping, insurance, aviation, agriculture and automotive industries. ...
Japan has instructed a national oil reserve storage site to prepare for a possible crude release after the Iran crisis disrupted Middle East supplies. Japan imports about 95 per cent of its crude from the region, much via the Strait of Hormuz....
The effective closure of the Strait of Hormuz following the outbreak of the Iran conflict, is likely to be temporary given its vital economic role. This, alongside global oil market oversupply, should limit oil price rises and mitigate any potential disruptions to Iranian oil supply, said an industry expert. ...
US President Donald Trump has said the US navy will protect ships in the Middle East and the government will provide insurance "if necessary" in a bid to contain soaring energy prices sparked by the US-Israel war with Iran....
An oil tanker sailed through the Strait of Hormuz on Tuesday, heading to a United Arab Emirates port to load crude in a rare voyage since the Iran war severely disrupted shipping in the Middle East, according to industry sources and ship-tracking data quoted by Reuters....
Global oil and gas prices surged on Tuesday as the escalating U.S.-Israeli war with Iran disrupted energy exports from the Middle East, triggering supply fears and sending shockwaves through commodity markets....
Iran’s Revolutionary Guard Corps (IRGC) declared that the Strait of Hormuz was “closed” and that any vessel attempting to pass through the waterway would be set “ablaze.”...
Oil price reporter S&P Global Platts has suspended bids and offers for Middle East refined product price assessments that require transit through the Strait of Hormuz due to shipping disruptions from the US-Iran conflict, the firm told subscribers. ...
At least 150 tankers, including crude and LNG vessels, dropped anchor in open Gulf waters beyond the Strait of Hormuz and dozens more were stationary on the other side of the chokepoint, shipping data showed, after US and Israeli strikes on Iran plunged the region into turmoil....
Global oil prices surged on Monday as escalating hostilities in the Middle East rattled energy markets, raising fears of a prolonged supply disruption from one of the world’s most critical oil-producing regions....
Iran's Revolutionary Guards warned on Saturday that no vessel would be allowed to pass through the Strait of Hormuz, a chokepoint through which nearly a fifth of the world’s oil supply passes....
