Tag: Iran

featured Oil and Gas

Oil prices drop as Iran declares Strait of Hormuz ‘completely open’

Oil prices plunged Friday after Iran’s Foreign Minister Abbas Araghchi said the vital Strait of Hormuz was “completely open” for commercial tankers and cargo ships during the US-Iran ceasefire. International benchmark Brent North Sea crude plunged 10 per cent to $89.11 a barrel, after earlier falling five percent on US-Iran peace deal hopes. The main […]

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Iran accuses US of breaching ceasefire deal

Iran has accused the United States of violating a fragile ceasefire agreement, even as Donald Trump maintains that the truce remains intact amid rising tensions across the Middle East. Fresh explosions were reported across key Gulf states, while conflicting claims emerged over the status of the strategically vital Strait of Hormuz, with Tehran declaring it […]

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Trump threatens to seize Iran’s oil fields amid tensions

United States President Donald Trump has said the US could move to seize Iran’s oil resources, including the key export terminal at Kharg Island, as tensions between the US, Iran and Israel continue to escalate. In an interview with the Financial Times on Sunday, Trump compared the possible move to Washington’s stance in Venezuela, where […]

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No negotiations yet amid US-Iran war, says Tehran envoy

Iran’s ambassador to Pakistan on Wednesday said there had been no talks between Washington or Tehran, after United States President Donald Trump signalled tentative progress in diplomatic efforts to end the war. “We have also heard such details through the media, but according to my information — and contrary to Trump’s claims — so far […]

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UAE orders closure of Iranian-linked hospital in Dubai amid war

The United Arab Emirates has ordered the closure of an Iranian state-linked hospital in Dubai amid escalating tensions between the two neighbouring countries. The decision comes as ties deteriorate due to Tehran’s aerial campaign against Gulf states following strikes on Iran by the United States and Israel starting February 28. Since then, Tehran has launched […]

Oil and Gas

Iran to facilitate Japan oil transit through Hormuz amid war

Iranian Foreign Minister Abbas Araghchi has stated that Tehran is prepared to assist Japanese ships in transiting the Strait of Hormuz, a critical chokepoint for global oil supplies. This was revealed in an interview with Kyodo News published on Saturday. Japan heavily relies on crude oil imports from the Middle East, with the majority passing […]

Oil and Gas

Oil soars above $100pb as Iran blocks Hormuz strait

Oil prices surged past $100 per barrel while global stock markets deepened their declines after Iran’s new supreme leader ordered the closure of the Strait of Hormuz. Concerns over a prolonged conflict persisted as United States President Donald Trump stated that stopping the Islamic republic’s “evil empire” was more important than crude prices. Global markets […]