Tag: Oil and Gas
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Iran rebuffs Trump’s claim over Strait of Hormuz amid report of another ship being struck
Iran’s deputy foreign minister says Hormuz “will remain Iranian” after Trump’s claim that the waterway would soon become U.S. territory.
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Oil moves higher as U.S. threatens ‘economic isolation’ of Iran
Oil prices rose early Friday after the U.S. said its naval blockade of Iranian ports could continue “indefinitely”.
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U.S. to use economic tactics on Iran ‘that have never been seen’; Navy works to relieve troubled carrier USS Abraham Lincoln
“It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz,” Bessent said.
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Trump-linked oil venture delays Greenland drilling plans after government warning
Greenland Energy Company and joint venture partner 80 Mile have delayed planned oil drilling in Greenland until winter 2027.
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Oil rises on worries over supply disruptions as spill near Oman worsens
News of recent deadly attacks on vessels in the Gulf of Oman and the Red Sea drove oil higher. An oil spill near Oman continued to worsen.
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India’s inflation accelerates to 4.45% in July, raising hopes of a rate hike later this year
India’s inflation rises for the ninth month in a row, raising the odds in favor of a rate hike later this year.
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Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says
The IEA expects oil demand to fall by 1.6 million barrels a day in 2026 as high fuel prices and Strait of Hormuz disruptions weigh on consumption.
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Houthi attack kills six in first fatalities in Red Sea in over a year; U.S. strikes container ship
A cargoship and containership have been hit in the Red Sea and Gulf of Oman as the war inflicts a toll on the world’s critical shipping lanes.
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Oil prices rise as Red Sea, Gulf of Oman attacks heighten supply concerns
Oil prices rose on Wednesday after deadly attacks on vessels in the Red Sea and Gulf of Oman heightened concerns over risks to global shipping routes.
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U.S. oil tops $84 as Hormuz deal hopes dwindle and deadlock deepens
U.S. crude is back above $84 as last week’s anticipation of a U.S.-Iran deal dissipates.
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