Crude oil prices declined on Wednesday after a report said that the International Energy Agency (IEA) proposed the largest release of oil reserves in its history to bring down crude prices that have soared amid the US-Iran war. According to a Wall Street Journal report, the release would exceed the 182 million barrels of oil…
President Donald Trump warned Iran against laying mines in the Strait of Hormuz and threatened to blow up any ship attempting to do so, underscoring his determination to get oil flowing through the vital waterway after almost two weeks of war. “If Iran has put out any mines in the Hormuz Strait, and we have…
The United States has begun a full-scale attack on Iranian vessels suspected of laying mines, as President Donald Trump warned Tehran on Tuesday that it would face severe and unprecedented military repercussions if it attempts to target the Strait of Hormuz, according to a report by AFP. Trump’s warning followed Iran’s declaration that no Gulf…
The White House said the United States had not escorted an oil tanker through the Strait of Hormuz, contradicting a now-deleted social media post by US energy secretary Chris Wright. At a press briefing on Tuesday (March 10), White House press secretary Karoline Leavitt rejected the claim that the United States Navy had accompanied a…
(Recasts with preliminary close of trading, adds analyst comment) * US crude settles down over 11% * Iran threatens continued oil blockade * US Navy says oil tanker escorted through Strait of Hormuz By Stephen Culp and Johann M Cherian NEW YORK, March 10 (Reuters) – US stocks lost steam on Tuesday, giving up early…
Iran has issued a sharp warning to Donald Trump after the US President said the country’s newly installed Supreme Leader would not be able to “live in peace”. The comments came after Tehran reportedly maintained pressure around the strategic Strait of Hormuz, prompting Trump to warn of devastating consequences if global oil traffic were disrupted….
President Donald Trump stated that the US would strike Tehran even harder if an oil blockade occurred. Iran’s Revolutionary Guards warned on Tuesday that they would prevent any oil shipments from the Middle East if the US and Israel continue their attacks. Despite this tense rhetoric, crude oil prices fell, and global stock markets rose…
Just as the global oil markets slump, tensions in the Gulf are threatening to disrupt supply further, keeping traders and governments on edge, Saudi Aramco’s chief executive officer has warned that the impact of this on the global oil markets will be “catastrophic”. In his first public remarks since the conflict disrupted Middle East energy…
United States President Donald Trump said on Tuesday, March 10, that he was eyeing an early end to the war. While he emphasized that the conflict with Iranian regime would not be over this week, he suggested that the Operation Epic Fury was way ahead of schedule. But as he has suggested that the conflict…
The Strait of Hormuz has been closed due to the Iran-America-Israel war, which is having a major impact on the supply of LPG and natural gas. In such a situation, the Petroleum Ministry of India has issued a clear priority list for the allocation of natural gas. If there is a shortage of gas, it…
