US EditionIran reportedly closes Strait of Hormuz: Oil and gas majors and traders suspend shipments
- 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.
270 Articles
270 Articles
Global maritime traffic is severely disrupted in the Strait of Ormuz, a strategic area for oil trade, due to growing tensions between Iran and the United States.
Oil Prices Set to Spike as Iran Declares Strait of Hormuz ‘Effectively Closed’ - The Thinking Conservative News
Crude oil and gasoline prices are expected to spike when trading resumes Monday as Strait of Hormuz tanker traffic slows to a trickle. The post Oil Prices Set to Spike as Iran Declares Strait of Hormuz ‘Effectively Closed’ appeared first on The Thinking Conservative News.
Oil Prices Expected to Spike as Iran Declares Strait of Hormuz ‘Effectively Closed’
Crude oil and gasoline prices are expected to spike when trading resumes Monday as Strait of Hormuz tanker traffic slows to a trickle amid warnings from the Islamic Revolutionary Guard Corps (IRGC) that the vital waterway, where more than 20 percent of the world’s oil is exported from the Persian Gulf, is “effectively closed.” “Due to the insecure conditions around the strait resulting from the U.S. and Israeli military aggression and Iran’s res…
Oil prices soar 10% as tanker traffic halts near the Strait of Hormuz amid Iran attacks while IRGC warns against passage. 'Our ships will stay put'
Hundreds of tankers carrying oil and liquid natural gas have dropped anchor or remain stationary near the Strait of Hormuz.
Ray McGovern: Strait of Hormuz Closure Signals Global Shock — “This Is the Ultimate Escalation”
In one of the scariest moments in modern history, we're doing our best at ScheerPost to pierce the fog of lies that conceal it but we need some help to pay our writers and staff. Please consider a tax-deductible donation. ScheerPost Staff In a moment of cascading escalation — with the Islamic Revolutionary Guard Corps announcing the closure of the Strait of Hormuz and retaliatory strikes reported against U.S. military installations across the re…
War in Middle East: Tensions rise over Strait of Hormuz as tankers caught in crossfire
At least three oil tankers sailing near the Strait of Hormuz came under fire Sunday as hundreds of vessels dropped anchor outside the narrow waterway between Iran and the Arabian Peninsula. Tehran said it has closed navigation through the strait, used to transport a fifth of the world's oil exports, following the US-Israeli bombardment on Saturday.
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