US EditionIran reportedly closes Strait of Hormuz: Oil and gas majors and traders suspend shipments
Iran's warning to close the Strait of Hormuz has triggered shipment suspensions and a 50% rise in insurance premiums amid escalating US-Israel-Iran conflict.
- 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.
209 Articles
209 Articles
Iranian Revolutionary Guard “De Facto” Closed the Strait of Ormuz Following u.s. and Israeli Attacks
Iran’s ideological army announced that “no ship is allowed to pass” through the maritime zone. “It’s not safe,” warned the Persian military authorities, who did not set a deadline for reopening the passage.
Oil and gas majors and traders suspend shipments via Hormuz, sources say
Several tanker owners, oil majors and trading houses have suspended crude oil, fuel and liquefied natural gas shipments via the Strait of Hormuz after the U.S. and Israel attacked Iran and Tehran said it had closed navigation, trading sources said on Saturday (Sunday in the Philippines).
Oil markets on edge as Iran moves to restrict vital Strait of Hormuz shipping lane, report says
Iran has reportedly moved to restrict navigation along the world's most critical oil export route after major U.S. and Israeli strikes, stoking fears of a significant disruption to global energy markets.A European Union naval mission official told Reuters that vessels in the region are receiving marine radio warnings from Iran’s Revolutionary Guard instructing ships not to pass through the Strait of Hormuz. Iran has not formally confirmed the or…
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.
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