Tag: Strait of Hormuz
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Snap Insight: US-Iran MOU is not yet a deal to end the war
While the preliminary agreement is welcome, there are still many more details to iron out before the world can feel relief, says Carl Skadian from the NUS Middle East Institute.
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US and Iran sign deal, but who really won? Here’s what to know
Trump signed the framework deal at Versailles while Pezeshkian signed in Tehran, pledging to reopen the Strait of Hormuz and triggering 60 days of further talks. Analysts say the terms leave Tehran in a stronger position than the deal’s framing suggests.
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Shipping industry wary of resuming Strait of Hormuz navigation
The world’s most important energy chokepoint may soon reopen, but insurance markets must regain confidence for the shipping sector to resume normal navigation. Meanwhile, Germany has dispatched two naval vessels for a possible mine clearance operation. #EuropeNews
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Oil sinks further as US and Iran strike deal to end war
Crude prices fell further on Thursday after the US and Iran formally signed a memorandum of understanding aimed at ending the war and reopening the Strait of Hormuz, while equity markets gave a mixed verdict in the wake of the Federal Reserve’s latest decision.
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US and Iran seal agreement, unclear if Strait of Hormuz open
The White House said the deal is in effect, according to reports.
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India wants to turn more coal into gas for energy security. It faces a tough conversion
India recently approved a US$3.9 billion scheme to turn more of its vast coal reserves into gas. Even as its energy security ambitions gather pace, experts warn that scaling up the centuries-old technology will likely be a slow burn.
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Read the full text of the leaked 14-point US-Iran draft agreement
It remains unclear whether the 14-point draft that was circulated at G7 meetings in France will be the version formalised at a ceremony in Switzerland on Friday.
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IEA sees gradual Hormuz recovery tipping into significant 2027 oil surplus
LONDON: The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday (Jun 17).The US and Iran reached an agreement to end the three-month-old war, which
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Berlin reportedly prepping for Strait of Hormuz safeguarding mission
The German defence ministry has said naval units are already on standby for a possible deployment. #EuropeNews
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Oil sinks to three-month low on hopes of Hormuz reopening
Oil prices fell below $80 per barrel as markets grew increasingly confident that the effective closure of the Strait of Hormuz is coming to an end, paving the way for a recovery in supplies from one of the world’s most important oil-exporting regions.
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