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 Hormuz, following through on its threats to retaliate after one of its ships was seized by U.K. authorities off the
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 that the ship was attempting to smuggle Iranian oil out of the country. Based on a series of videos released
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 Saturday after its transponder stopped broadcasting near the coast of the small Iranian island of Qeshm. According to the Associated
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 operating in the region. Strikes on tankers just outside the Persian Gulf in mid-June were the second in a month
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 Thursday for violating sanctions put in place by the European Union, further straining the already tense relationship between and Tehran
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 increasing our readiness,” Amin Nasser said in an interview in Seoul on Tuesday. “We can supply through the Red Sea
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 mistake” by shooting down a U.S. spy drone over the Strait of Hormuz. According to CNBC, U.S. officials are reporting
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 markets opened today. U.S. officials are blaming Iran for the incidents; however the country has vehemently denied any involvement. Source:
Plans to disrupt global oil trade would almost certainly involve hampering tankers moving through the world’s busiest oil choke point: Strait of Hormuz About two thirds of the world’s largest oil tankers travel through the straight; and one-third of the world’s LNG trade From The Daily Caller Iranian plans to disrupt the oil trade will likely involve hampering the world’s
From Bloomberg Iran will close the Strait of Hormuz, a waterway vital for global oil shipments, if the country is prevented from using it, a senior military official said on Monday in what appears to be a response to the U.S. plan to end waivers on Iranian oil exports. “If we are prevented from using it, we will close it,”
CNBC – Saudi Arabia and the United Arab Emirates have opened new pipelines bypassing the Strait of Hormuz, the shipping lane that Iran has repeatedly threatened to close, in a move that will reduce Tehran’s power over oil markets. The quiet opening of the pipelines comes amid heightened diplomatic tensions over Tehran’s nuclear program. Iran’s oil production has fallen to
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