Post Tagged with: "Strait of Hormuz"

Source: Reuters

Tanker owners face insurance headache as Mideast war risk haunts shipping trade

Reuters


SINGAPORE – Even as the United States and Iran appear to signal a keenness to avoid further conflict, oil and gas shipowners are bracing to pay a price for the war of words that culminated in rocket strikes in …

January 9, 2020 - 3:00 pm Closing Bell Story‎, Energy News, International
Source: CNBC

Biggest ‘black swan’ event for oil markets is disruption in the Strait of Hormuz, expert says

CNBC


The biggest black swan event in the oil market is a disruption to the most critical chokepoint in the Middle East, according to an analyst from S&P Global Platts.

“The market is extremely exposed to any disruption to vessel …

Source: CNBC

Oil prices will climb above $100 a barrel if Iran blocks the Strait of Hormuz, analysts predict

CNBC


Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday.

Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants …

Source: CNBC

How the world’s most important oil chokepoint could factor into escalating US-Iran tensions

CNBC


A critical gateway to the world’s oil industry has been thrust back into the global spotlight, following a dramatic escalation in geopolitical tensions since the targeted killing of a top Iranian general.

The death of Iranian military commander Qasem

Iranian Tanker Sought by US Heading Toward Greece

Iranian Tanker Sought by US Heading Toward Greece

From The Houston Chronicle


An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next …

Gibraltar Releases Captured Iranian Oil Tanker, US Makes Immediate Request to Seize Vessel

Gibraltar Releases Captured Iranian Oil Tanker, US Makes Immediate Request to Seize Vessel

From CNBC


An Iranian oil tanker held in Gibraltar since early July has been officially released by local authorities, although it may not sail if a U.S. application to seize the vessel proves successful.

On July 4, Gibraltar authorities with …

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

From The Houston Chronicle


Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about …

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

From Reuters


Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war.

International benchmark Brent crude settled …

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

From Reuters


Oil jumped more than 2% on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions.…

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

From Reuters


Oil prices tumbled more than 4.5% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing.…

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

From Reuters


Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.

During the session, Brent traded …

Oil Falls 3% as Trade War Concerns Hit Demand Outlook

Oil Falls 3% as Trade War Concerns Hit Demand Outlook

From Reuters


Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers.…

UK Joins United States for Maritime Security Mission in Gulf

UK Joins United States for Maritime Security Mission in Gulf

From Reuters


Britain on Monday joined the United States in a maritime security mission in the Gulf to protect merchant vessels travelling through the Strait of Hormuz after Iran seized a British-flagged vessel.

British officials stressed that there was no …

BP Profit Again Outstrips Forecasts, Lifted by Higher Oil Output

BP Profit Again Outstrips Forecasts, Lifted by Higher Oil Output

From Reuters


A strong rise in oil and gas production helped BP (BP.L) offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares.

BP’s second quarter contrasts with Total (TOTF.PA) and …

Britain Tells Iran: Release Ship to ‘Come Out of the Dark’

Britain Tells Iran: Release Ship to ‘Come Out of the Dark’

From Reuters


Britain told Iran on Monday that if it wants to “come out of the dark” it must follow international rules and release a British-flagged oil tanker seized by its forces in the Gulf.

Iranian commandos seized the Stena …

Oil Gains on U.S. Economic Data, Gulf Crude Tanker Dispute

Oil Gains on U.S. Economic Data, Gulf Crude Tanker Dispute

From Reuters


Oil prices inched up on Friday, ending the week higher after stronger-than-expected U.S. economic data brightened the crude demand outlook and concerns over the safety of oil transport around the Strait of Hormuz threatened supply.

Brent crude futures …

Flags of Inconvenience: Noose Tightens Around Iranian Shipping

Flags of Inconvenience: Noose Tightens Around Iranian Shipping

From Reuters


Somewhere on its journey from the waters off Iran, around Africa’s southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later …

Iran’s President Warns Foreign Powers to Keep Naval Ships Out of the Persian Gulf

Iran’s President Warns Foreign Powers to Keep Naval Ships Out of the Persian Gulf

From CNBC


Iranian President Hassan Rouhani has told his cabinet that protecting security around the Persian Gulf is solely the responsibility of countries in the region and that other nations should stay away.

The United Kingdom is attempting to form …

Opinion: Oil is Probably the Reason We Won’t Go to War With Iran

Opinion: Oil is Probably the Reason We Won’t Go to War With Iran

From CNBC


Many cynics have long contended that the real reason the U.S. entered a slew of recent wars was only to protect American oil interests. But now it’s beginning to look like oil may be a major reason why …

‘Floating Bomb’: Decaying Oil Tanker Near Yemen Coast Could Soon Explode, Experts Warn

‘Floating Bomb’: Decaying Oil Tanker Near Yemen Coast Could Soon Explode, Experts Warn

From CNBC


An abandoned and decaying oil tanker near the coast of war-torn Yemen could soon rupture or explode, the United Nations (UN) has warned, potentially triggering one of the world’s largest oil spills.

The deserted Safer FSO tanker, which …

U.S. Sanctions China’s State-Run Oil Company for Buying from Iran

U.S. Sanctions China’s State-Run Oil Company for Buying from Iran

By Tyler Losier, Energy Reporter, Oil & Gas 360

Secretary of State Mike Pompeo announces sanctions for Zhuhai Zhenrong and its chief executive
The United States government will be imposing sanctions on Zhuhai Zhenrong Company Limited, a state-run oil company

Muhammad bin Salman, Deputy Crown Prince of Saudi Arabia
Photo Credit: The Economist

Saudi Arabia Urges Global Community to Deter Maritime Trade Disruptions

From Reuters


Saudi Arabia’s cabinet said on Tuesday that Iran’s interception of commercial vessels in Gulf waters, including its seizure of a British tanker, violated international law and must be prevented.

The Saudi remarks came after Britain called on Monday …

Iran Seizes Two More Tankers as Strait of Hormuz Tension Escalates

Iran Seizes Two More Tankers as Strait of Hormuz Tension Escalates

By Tyler Losier, Energy Reporter, Oil & Gas 360

British and Liberian-flagged vessels seized by Iran, who President Trump calls “nothing but trouble”
Iran has seized two oil tankers – one British-flagged and one Liberian-flagged – in the Strait of

Iran Reportedly Seizes Oil Tanker in Strait of Hormuz

Iran Reportedly Seizes Oil Tanker in Strait of Hormuz

By Tyler Losier, Energy Reporter, Oil & Gas 360

Iranian Revolutionary Guard seizes foreign tanker, claims it was smuggling fuel
Iran’s Islamic Revolutionary Guard Corps Navy has reportedly seized a foreign oil tanker traveling through the Strait of Hormuz, claiming

Oil Tanker Disappears in the Strait of Hormuz

Oil Tanker Disappears in the Strait of Hormuz

By Tyler Losier, Energy Reporter, Oil & Gas 360

UAE denies ownership of the Panama-flagged vessel, which has been missing for two days
The Riah, a 190-foot Panama-flagged oil tanker traveling through the Strait of Hormuz, has been missing since

Oil Tankers Dodge Top Mideast Refueling Hub After Ship Attacks

Oil Tankers Dodge Top Mideast Refueling Hub After Ship Attacks

From The Houston Chronicle


Oil tanker owners are avoiding sending their ships to the Middle East’s main refueling hub after a spate of attacks on vessels in the past two months ratcheted up tensions and highlighted the growing risks of …

Supertanker Suspected of Violating Sanctions Seized Off the Coast of Gibraltar

Supertanker Suspected of Violating Sanctions Seized Off the Coast of Gibraltar

By Tyler Losier, Energy Reporter, Oil & Gas 360

Vessel suspected of carrying Iranian oil to Syria in violation of EU sanctions
An Iranian supertanker carrying oil allegedly bound for Syria was detained in Gibraltar by British Royal Marines this

Source: Islamic Republic News Agency

Saudi Aramco Says It Can Keep Oil Flowing If Hormuz Disrupted

From The Houston Chronicle


Saudi Arabian Oil Co. has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted, according to the chief executive officer of the state-run producer.

“We are …

Crude Up Over 5% After Trump’s Latest Iran Tweets

Crude Up Over 5% After Trump’s Latest Iran Tweets

By Tyler Losier, Energy Reporter, Oil & Gas 360

Downed drone leads to comments from White House
As of mid-afternoon Thursday, WTI crude oil prices are trading at almost $57 after President Trump tweeted that Iran made a “very big

Source: Islamic Republic News Agency

Oil Spikes After ‘Suspicious’ Tanker Attacks in Middle East

By Tyler Losier, Energy Reporter, Oil & Gas 360

Two vessels seriously damaged after seemingly intentional strike
Two tankers were attacked Thursday near the Strait of Hormuz in the Gulf of Oman, leading to a spike in oil prices as