Tag: Strait of Hormuz
Oil prices spike again as US-Iran ceasefire breaks down and Strait of Hormuz is closed again
The Strait of Hormuz handles nearly one-fifth of the world's daily oil consumption. Around 20 million barrels of crude oil and petroleum products used to pass through the narrow waterway every day
That’s that for the ceasefire: US President Donald Trump says he no longer wants to deal with Iran
Following the latest escalation in tensions, US President Donald Trump said that the ceasefire deal with Iran is over and he also said that further engagement with Tehran is a waste of time.
Re-opening of Hormuz route brings relief for farmers as ships carrying fertilisers now smoothly pass through the strait
With rainfall improving and fertiliser ships moving again through the Strait of Hormuz, the outlook for the kharif season is looking more stable, even though supply risks still need close watching.
Transit through Hormuz will be free or will there be toll or will there be service fees: Confusion reigns supreme after US-Iran peace deal
Iranian foreign ministry spokesperson Esmaeil Baqaei said, “We have always maintained that we do not seek to collect transit tolls, but fees for navigation services, environmental protection, ship insurance and other necessary services will be charged."
US launches fresh strikes on Iran even as the two negotiate peace plan in Qatar
While US is claiming that these strikes were defensive operations, Iran is going to see this as an act of aggression and a violation of the ceasefire which has been in place since early April.
The fresh US strikes in Iran may have further delayed reopening of Strait of Hormuz, and added to the uncertainty in global oil markets
Oil prices, which had cooled off a little last week after positive noises around the peace talks, climbed again over worries that the peace talks will now slow further down.