US EditionIran reportedly closes Strait of Hormuz: Oil and gas majors and traders suspend shipments
Major oil companies have suspended shipments through the Strait of Hormuz amid Iran's warnings, risking a 50% rise in insurance premiums and potential spike in global crude prices.
- On Saturday, UKMTO reported that the IRGC warned vessels that no ship is allowed to pass the Strait of Hormuz after U.S. and Israeli strikes, while roughly 750 vessels transited the area.
- On Saturday, Iran told vessels `no ship is allowed to pass the Strait of Hormuz` after attacks on Iranian facilities, with reports of closure claims that cannot be independently verified.
- The U.S. Navy warned companies it cannot guarantee vessel safety in the Persian Gulf, while insurance firms warned premiums could rise by 50% and major oil companies suspended shipments.
- Analysts warn one day of a full blockade could double global oil prices from $66 to more than $120, risking an international crisis, and Kuwait and Saudi Arabia would oppose it.
- It is not yet clear whether radio transmissions amount to a legal blockade, and UKMTO cautioned that VHF Channel 16 broadcasts are not legally binding or a lawful restriction on navigation.
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159 Articles
The IRGC Moves To Close Strait of Hormuz as Strikes Against Gulf States and Israel Expected To Continue
Following the launch of an extensive US-Israeli operation […] The post The IRGC Moves To Close Strait of Hormuz as Strikes Against Gulf States and Israel Expected To Continue appeared first on The Media Line.
US, Israel start attacks on Iran in war that engulfs region
The U.S. and Israel struck hundreds of targets in Iran, with President Donald Trump urging Iranians to overthrow the government in a conflict that’s spiraling across the oil-rich Middle East and disrupting tanker traffic around the Hormuz shipping strait.
Twenty million barrels of oil pass through the Strait of Hormuz daily, a fifth of the world's needs. A blockade of this sea passage...
Several large oil companies and commercial oil houses have suspended shipments of crude oil, fuel and liquefied natural gas across the Strait of Ormuz after the United States and Israel attacked Iran and Tehran announced the closure of navigation, commercial sources reported to Reuters on Saturday. “Our ships will remain in the same place for several days,” a senior executive of a major commercial office told the agency. Satellite images of oil …
Iran: Strait of Hormuz unsafe due to attacks, shut to transit
Iran's Revolutionary Guards said the Strait of Hormuz, a vital waterway for oil and gas shipments, is unsafe due to US and Israeli attacks and was therefore closed to ships on Saturday, local media reported. "The IRGC has warned various ships that due to the insecure atmosphere around the strait because of the military aggression by the US and Israel and the responses of Iran, it is not safe to pass through the strait at the moment," the Tasnim …
Iran's Revolutionary Guard Corps announced today that the Strait of Hormuz is dangerous due to attacks by the US and Israel and is therefore closed to ships, foreign news agencies reported. The strait is a key commercial waterway, including for oil and gas shipments.
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