Oil prices edged lower on Monday after Opec+ agreed to raise its production targets for August, while crude exports through the Strait of Hormuz continued recovering following recent regional tensions, increasing expectations of higher global supply. Read More: Levy adjustment keeps fuel rate unchanged despite global price fall Brent crude futures fell 24 cents, or 0.33%, to $71.88 per […]
Strait of Hormuz
Iran warns against foreign military presence
Iran has warned against the presence of extra-regional military forces in the Strait of Hormuz, calling the strategic waterway the responsibility of coastal states. The warning comes amid heightened regional tensions and underscores Tehran’s opposition to foreign military activity. The statement could affect maritime security and regional stability in one of the world’s busiest oil […]
France keeps Hormuz security role despite carrier return: Macron
French President Emmanuel Macron has confirmed that France will maintain its mine-countermeasure capabilities in the Strait of Hormuz despite the return of the aircraft carrier Charles de Gaulle to its home port of Toulon, reaffirming Paris’ commitment to safeguarding maritime security in one of the world’s most strategically important waterways. Read More: France sends warships toward Hormuz region […]
Iran explores oil exports to Japan
Iran has begun talks with Japanese companies to resume oil exports as US sanctions ease under a temporary waiver. Prospective buyers are seeking a longer sanctions exemption and assurances over shipping security in the Gulf. The discussions could mark a significant step toward restoring Iran’s oil trade with Japan. According to sources, the United States […]
Oil edges higher as Middle East peace efforts continue
Oil prices posted modest gains on Friday as investors remained cautiously optimistic about ongoing diplomatic efforts between the United States and Iran, while monitoring crude supplies from the Middle East ahead of the long US holiday weekend. International benchmark Brent crude rose 17 cents, or 0.24%, to $72.10 per barrel, while US West Texas Intermediate […]
Trump questions US spending on NATO
US President Donald Trump said the United States spends more on NATO than any other member but receives little benefit in return. The remarks matter because they renew debate over burden-sharing within the military alliance. NATO members and transatlantic partners could be affected by Washington’s position. In a statement shared on social media, Trump said […]
US, Arab states back Hormuz security
The United States and 12 Middle Eastern countries agreed to strengthen joint efforts to keep trade flowing through the Strait of Hormuz. The agreement matters because the strategic waterway is critical for global energy supplies and international shipping. Regional governments, commercial shipping, and global markets could benefit from enhanced maritime security. The understanding was reached […]
Iran warns US over Hormuz
Iran warned on Thursday that any US interference in the Strait of Hormuz would trigger a decisive and rapid response. The warning matters because the strategic waterway is vital for global energy shipments and regional security. Shipping operators, energy markets, and regional powers could be affected by rising tensions. According to Iranian state media, the […]
UAE oil exports near highest level since 2017
The United Arab Emirates’ (UAE) oil exports have climbed to their highest level since 2017, with daily shipments exceeding 3.9 million barrels in June, according to Emirati media reports. The increase marks a significant recovery in the country’s energy exports, with officials reporting that oil shipments have returned to levels seen before recent regional conflict […]
US, Iran Doha talks end with focus on Strait of Hormuz
Indirect talks between the United States (US) and Iran concluded in Doha, Qatar, after two days of discussions centred on maritime security in the Strait of Hormuz and the release of frozen Iranian funds. While officials described the meetings as constructive, neither side announced any significant breakthrough or final agreement. According to sources familiar with […]