US EditionIran reportedly closes Strait of Hormuz: Oil and gas majors and traders suspend shipments
Iran’s Revolutionary Guards issued radio warnings closing the Strait of Hormuz, halting shipments and prompting insurers to raise premiums by up to 50%, amid escalating U.S.-Israel strikes.
- On Sunday, Danish shipping group Maersk suspended all vessel crossings through the Strait of Hormuz, posting an advisory that the halt will remain until further notice due to safety concerns.
- Iran's Islamic Revolutionary Guard Corps declared the shipping lane closed and unsafe, while maritime security agencies said Iran pressed a second day of strikes after US-Israeli air raids.
- The United Kingdom Maritime Trade Operations reported one ship off Oman was struck above the waterline, and Vanguard Tech located the tanker about 17 nautical miles northwest of Mina Saqr.
- Shipping firms reacted by diverting or sheltering vessels to avoid the corridor, with MSC instructing ships in the Gulf to move to safe shelter areas as nearly a quarter of global seaborne oil supplies transit the Strait of Hormuz.
- Iranian state television broadcast images saying a tanker was `sinking` amid thick smoke, state media in Oman reported four crew members injured, and Maersk said `The safety of our crews, vessels and customers' cargo remains our key priority.
294 Articles
294 Articles
The Sanford Herald
Maersk suspends vessel transit through Strait of Hormuz
Maersk, the major container shipping company, said Sunday it was halting passage through the Suez Canal and the narrow Strait of Hormuz in the Gulf, next to Iran, for "safety" reasons.
Maritime traffic is paralysed in the Strait of Ormuz, a key route in global hydrocarbon trade, where ships have been affected.
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.
Russia warns of oil choke due to closure of Strait of Hormuz
Russia's foreign ministry said on Sunday that the closure of the Strait of Hormuz to shipping could lead to significant disbalances on the global oil and gas markets. Trading sources said on Saturday that several tanker owners, oil majors and trading houses have suspended crude oil, fuel and liquefied natural gas shipments via the Strait of after the US and Israel and Tehran said it had closed navigation. Some 20% of global oil, including from p…
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…
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