Latest News
-
US sources claim that Iran has made preparations for the mining of the Strait of Hormuz.
Two U.S. officials claim that the Iranian military loaded mines on vessels in the Persian Gulf in late November. This move heightened concerns in Washington about Tehran's plans to blockade Strait of Hormuz in response to Israel's attacks against Iranian sites. Officials who spoke on condition of anonymity in order to discuss sensitive intelligence issues said that the previously unknown preparations took place some time after Israel's initial missile attack against Iran, which occurred on June 13. The mines were not deployed in the Strait, but the loading suggests that Tehran was serious about shutting down one of the busiest shipping routes on the planet. A fifth of all oil and gas exports pass through the Strait of Hormuz, and a closure would have likely pushed up energy prices worldwide. The global benchmark oil price has fallen by more than 10% in recent months, largely due to relief that the U.S. strike on Iran's nucleus facilities did not cause significant disruptions in oil trade. Iran's Parliament reportedly supported a measure on June 22 to block the Strait of Hormuz. This was shortly after U.S. forces bombed Iran's three most important nuclear sites to try to cripple Tehran’s nuclear program. Press TV in Iran said that the decision was not final and the Supreme National Security Council of Iran would have to decide. Iran has threatened to close the Strait over the years, but never carried out that threat. It was impossible to pinpoint the exact time that Tehran had loaded the mines during the Israel-Iran war, which if used would have stopped the ships from passing through the main thoroughfare. The mines may have been detonated since then, but it is not clear. Sources did not reveal how the United States determined the mines were placed on the Iranian vessels. However, such intelligence is usually gathered by satellite imagery, clandestine sources, or a combination. A White House official was asked to comment on Iran's plans. He said: "Thanks for the President's brilliant implementation of Operation Midnight Hammer and his successful campaign against Houthis and maximum pressure campaign the Strait of Hormuz is open, freedom of movement has been restored and Iran has significantly been weakened." The Pentagon didn't immediately respond to an inquiry for comment. The Iranian Mission at the United Nations did not immediately respond to a request for comment. Key THOROUGHFARE Two officials stated that the U.S. has not ruled the possibility of a ruse in loading the mines. Officials said that the Iranians may have loaded the mines in order to fool Washington into thinking that Tehran is serious about closing down the Strait. Iran's military may have been preparing for the worst in case the Iranian leaders had given the order. The Strait of Hormuz is located between Oman, Iran, and the Gulf of Oman in the south. It also connects the Persian Gulf to the Arabian Sea. The shipping lane is only 2 miles wide either way. It's 21 miles (34km) wide at the narrowest point. Saudi Arabia, Kuwait, Iraq, and the United Arab Emirates are all OPEC countries that export the majority of their crude oil via the strait. This is primarily to Asia. Qatar, one of the largest LNG exporters in the world, sends most of its LNG via the strait. Iran exports the majority of its crude oil through the passage which, in theory, limits Tehran's desire to close the strait. Tehran has invested significant resources in ensuring it is able to do this if necessary. The U.S. Defense Intelligence Agency reported that Iran had more than 5,000 mines in its arsenal as of 2019. These could be quickly deployed by small boats with high speeds, according to the estimate at the time. Fifth Fleet of the United States, based in Bahrain is responsible for protecting trade in the region. The U.S. Navy typically keeps four mine countermeasure ships, or MCM vessels in Bahrain. However, these vessels are now being replaced by a different type of vessel, a littoral battle ship, or LCS. This vessel also has antimine capabilities. In the days before the U.S. strike on Iran, all anti-mine vessels had been temporarily taken out of Bahrain to prepare for a possible retaliatory assault on Fifth Fleet Headquarters. Iran's immediate response was a missile strike on a U.S. base in Qatar. Officials in the United States have not, however, ruled out any further retaliatory actions by Iran.
-
US LNG exports drop in June due plant maintenance
According to preliminary data, LSEG, the financial firm, U.S. liquefied gas exports in June fell to the second-lowest monthly level of the year, due to maintenance work being done at some the largest export facilities. LSEG data revealed that the United States, which is the top LNG exporter in the world, sold 8,4 million metric tonnes of superchilled LNG during the month. This was down from the 8.9 MT of May, and far below the record set by April of 9.3 MT. The decrease in LNG exports is mainly due to maintenance at Cheniere’s Sabine Pass facility, which produces 4.5 billion cubic foot per day in Louisiana. It also includes its Corpus Christi plant that produces 2.4 bcfd in Texas. According to LSEG, Cameron LNG's plant in Louisiana, which produces 2.0 bcfd, also had maintenance. Freeport LNG, a Texas plant that produces 2.1 bcfd, experienced unplanned outages. According to LSEG, maintenance at Cameron LNG and Sabine Pass LNG plants appeared to be complete by the end of the second week of June. The plants were producing close to their capacity. EUROPE DOMINATES BUYERS Data shows that the ongoing trade wars between the U.S. and Asia continue to affect demand for LNG. Imports of LNG fell by 16 million metric tons in the first half compared to 2024. Gas prices in Asia were higher than in Europe in June. The Asian benchmark Japan Korea Marker rose to $12.90/mmBtu from $11.83 per mmBtu in May. The European benchmark Title Transfer Facility, in the Netherlands, rose from $11.68 to $12.38 in June. LSEG data show that even with a slight arbitrage in favor of Asian exports, U.S. LNG producers exported only 5.53 MT (66%) to Europe in June. This was lower than the 6.05 MT (68%), which went to Europe during May. LSEG data show that exports to Asia remained low in June, with only 1.56 MT (or 19%) of total exports going to Asia compared to 1.88 MT (21%) in May. Due to the shorter shipping time from the Gulf Coast, LNG Canada Train 1, the 14 mtpa LNG plant in Canada, is expected to compete with U.S. LNG Exports. The US exports more LNG closer to home The U.S. increased its exports of gas to Latin America due to colder weather conditions in South America and the difficulty in obtaining enough domestic gas in Argentina. This amounted to 0.81 MT, or 10% of the total cargoes that went to the region. LSEG data show that this is a significant increase from 0.66 MT, or just under 7% in May. According to LSEG, Argentina bought 340,000 tons of LNG alone in June. The U.S. supplied a third of this, and Trinidad and Tobago provided 230,000 tons. LSEG data revealed that U.S. exporters of LNG continued to demonstrate versatility in June with exports to Egypt and Namibia, as well as Bahrain. Reporting by Curtis Williams, Houston; Editing and proofreading by Alison Williams
-
Iranian firm offers to purchase minority shareholders in Russian Caspian Port Terminal
The company's Tuesday records revealed that Nasim Bahr Kish (an Iranian firm) which holds a controlling interest in Russia's Astrakhan Port has made an offer to buy the remaining shares. This includes a 25% share owned by the Russian government. Astrakhan Port is a port in Astrakhan, a city located in southern Russia. This move highlights Tehran's growing involvement in Russia’s export infrastructure, as both countries strengthen their economic ties while under Western sanctions. Kommersant, a Russian newspaper, broke the news first. The Iranian firm would gain full control of one of the most important Caspian Sea Terminals used to transship grain, metals and timber. The terminal handled approximately 275,000 tons of grain in the agricultural season 2023/2024. However, volumes have dropped to 139.500 tons this season with no shipments made in May. Transporting Russian grain from Russia to Iran has been done by the Caspian Sea for centuries. The route saw a sharp decline in grain shipments in the second half 2025, due to the temporary Russian export ban of barley and maize. Analysts expect the agricultural season 2025/2026 to rebound, in part due to the crop loss in Iran in this year.
-
Sources say that a limpet mine could have damaged a Greek tanker near Libya in the latest unaccounted for attack.
Sources in maritime security said that a limpet mine could have been responsible for the blast which damaged a Greek oil tanker off the coast of Libya last week. This is the fifth incident in recent months to affect commercial shipping in this region. On Monday, TMS, the Greece-based operator of the Marshall Islands flag tanker Vilamoura, said that the explosion occurred in the engine-room of the vessel as it was leaving the Libyan port Zuetina to head to Gibraltar on 27 June with 1,000,000 barrels of oil. Four maritime security sources stated that a limpet-mine was the likely cause of this explosion, according to their initial assessments. An informed company representative said that TMS would not be able to determine the cause of the explosion until the ship arrived in Greece on Tuesday, or July 2. MarineTraffic's platform, which tracks ships, showed Tuesday that the tanker's final position was near Greece's south coast. TMS said in a Monday statement that the ship's engine was flooded by the explosion and it lost its maneuverability. However, the vessel was still able to tow towards Greece. MarineTraffic's data shows that the vessel made two stops at ports in Russia, including Ust-Luga on the Baltic Sea and Novorossiysk on Russia's Black Sea. In a recent report, Dryad Global, a British company that provides maritime cyber-defence and risk intelligence, said: "Investigations on the suspected limpet mining attacks on tankers are all linked to recent port visits at Russian ports. This indicates a targeted attack against vessels involved in Russian Oil Trade, probably driven by geopolitical pressures around Western sanctions." The West has imposed sanctions on Russia for its involvement in the war in Ukraine. Separately, the Group of Seven major countries capped oil exports from Moscow at $60 per barrel. In January and February of this year, three oil tankers were damaged in separate incidents by explosions around the Mediterranean. The causes are unknown. These are the first incidents involving non-military ships that have occurred in the central Mediterranean region for many decades. In February, a fifth tanker was damaged by explosions while anchored in Ust-Luga. This prompted divers in Russian ports to search for mines. Reporting by Jonathan Saul and Renee Maltezou; editing by Mark Heinrich
-
Airline SAS buys up to 55 Embraer aircraft in a deal worth $4 billion
Scandinavian Airline SAS announced on Tuesday that it had agreed to purchase up to 55 aircraft in Brazil from Embraer, in a deal valued at around $4 billion. This does not include the rights to purchase. Anko Van der Werff, CEO of SAS, told reporters in Copenhagen that the airline has signed a deal with a firm commitment to buy 45 E195E2 aircraft. An option for an additional 10 is also available. Scandinavia's largest carrier announced in a press release that deliveries will begin late in 2027. The aircraft's size and range were deemed to be ideal for complementing SAS' existing fleet, route structure and allowing more frequencies, greater network flexibility and lower trip cost. The E195E2 is an aircraft that can seat up to 146 people. It is the largest regional jet in Embraer's fleet and competes against the Airbus A220 which was developed originally in Canada. Both models are in a market segment for commercial passenger aircraft below that dominated by Airbus or Boeing, but they face a fierce rivalry. The SAS deal comes after Embraer suffered a blow earlier in the month when Airbus secured a historic order from Polish national airline LOT for 40 A220 aircraft. (Reporting and editing by Louise Breusch Rasmussen, Emelia Sithole Matarise, and Stine Jacobsen)
-
Middle East flights suspended by airlines
After the 12-day war between Iran and Israel, which ended last week with a ceasefire brokered by the United States, many airline services are still disrupted throughout the Middle East. Safety concerns and airspace closures continue to impact airline traffic in the area. Here are some airlines that have cancelled flights from and to the region. AEGEAN AIRLINES The Greek airline has cancelled flights to Tel Aviv and Beirut as well as to Amman, Erbil, and Amman, up until the early flight on September 8th. AIR ARABIA Starting on July 10, the UAE low-cost carrier will resume flights to Damascus. AIRBALTIC AirBaltic, a Latvian airline, announced that it had cancelled all flights from and to Tel Aviv up until September 30. AIR CANADA The Canadian carrier suspends its flights between Toronto and Dubai until the 4th of August. The Canadian carrier had already delayed the resumption to service between Canada and Israel until September 8. AIR EUROPA The Spanish airline announced that it had cancelled all flights from and to Tel Aviv up until the 13th of July. The airline will fly Mondays, Tuesdays, Thursdays, Sundays and Wednesdays from July 14 until July 31. From August 1, it will fly every day except Saturdays. AIR FRANCE-KLM From July 7, the French flag carrier will resume its flights between Paris-Charles de Gaulle Airport and Tel Aviv. KLM, the Dutch subsidiary of the group, said that it would cancel all flights to or from Tel Aviv up until July 31. DELTA AIR LINES Travel to, from, or through Tel Aviv could be affected between June 12 and July 31. EL AL ISRAEL AIRLINES The Israeli airline reported that flights operated as planned on July 1. Only a few flights were cancelled. EMIRATES Emirates announced that all flights from and to Tehran had been cancelled through July 5. Baghdad operations will resume on July 1, and Basra operations on July 2. FINNAIR The Finnish airline announced that it would resume flights to Doha on July 1. FLYDUBAI The UAE airline announced that it has resumed full operation across its entire network. Flights to Iran are suspended, except for Mashhad. This suspension will last until July 5. British Airways, owned by IAG, has suspended its flights from Tel Aviv until the 31st of July. Iberia Express is IAG's low cost airline. It has cancelled all flights to Tel Aviv up until October 25, 2010. ITA AIRWAYS Italian Airlines announced that it will extend the suspension of Tel Aviv flight until July 31. This includes two flights scheduled for August 1. JAPAN AIRLINES On July 2, the Japanese carrier will resume operations in Qatar. It will depart from Tokyo Haneda and fly to Doha. LUFTHANSA GROUP Lufthansa has announced that all flights from and to Tel Aviv, Tehran and other cities have been suspended until July 31. Amman flights are being cancelled until July 11. PEGASUS Turkish Airlines has cancelled all flights to Iran, Iraq, Lebanon, and Jordan until the 7th of July. QATAR AIRWAYS Qatar Airways will resume its flights to Baghdad on June 30, Erbil on July 1, Sulaymaniyah, Najaf and Basra starting July 2, Basra beginning July 3, and Damascus commencing July 6. The full schedule will be resumed to Amman and Beirut from July 1. Flights to Iran are temporarily suspended. RYANAIR Ryanair has cancelled all flights from and to Tel Aviv, and Amman until the 25th of October. UNITED AIRLINES According to the U.S. airline, travel from and to Tel Aviv could be affected between June 13, and August 1, 2013. There may be problems with flights to and from Dubai between June 18th and July 3th. WIZZ AIR The Hungarian carrier said that it would suspend its flights to and from Tel Aviv, Amman and Jordan until September 15. (Reporting and editing by Bureaus: compiled by Agnieszka Olesnka, Elviira Loma, and Tiago Brancao; Editing by Matt Scuffham and Alison Williams, Milla Nissi Prrussak, Alison Williams, and Milla Olenska)
-
Is the escalating spat between Trump and Musk a regulatory threat to Musk's businesses?
Donald Trump, the U.S. president, called on Tuesday for a review to be conducted of the subsidies given to Elon Musk’s companies. This sparked fears that the billionaire’s businesses in the sectors of transportation, energy, and space would face a more rigorous regulatory scrutiny. The list below includes the U.S. regulatory agencies that oversee Musk's businesses, such as Tesla, SpaceX (a rocket and satellite company), Neuralink (a brain implant company), X social media platform, and The Boring Company, whose construction company is The Boring Company. National Highway Traffic Safety Administration Tesla is constantly under scrutiny by U.S. auto investigators regarding the safety of their vehicles, especially when they use advanced driver assistance systems. The regulator requested more information from Tesla last month after viewing online videos showing a robotaxi allegedly driving in the wrong lane, and another driverless car speeding. This was shortly after Tesla had launched a limited robotaxi service for a fee in Austin, Texas. The agency is currently reviewing responses to questions it has asked about safety of robotaxis in bad weather, among other issues. Since October, the NHTSA is investigating Tesla's self-driving car collisions on roads with reduced visibility. Federal Communications Commission In April, the Federal Communications Commission voted to review a decades-old regime of spectrum sharing between satellite systems that SpaceX had requested. SpaceX is seeking new spectrum in the next few years from the FCC to accelerate the deployment of satellite internet service. The U.S. Telecom regulator's review aims to permit a greater and intensive use of spectrum in space activities. The 1990s-era power reductions have limited the use of spectrum, preventing better coverage by SpaceX's Starlink system and other systems. Food and Drug Administration The FDA is responsible for overseeing the clinical trials of Neuralink - Musk's brain implants company. It decides whether these trials can be conducted and whether Neuralink will eventually be able to sell its product to consumers. The FDA has already approved these trials in the U.S. Neuralink is also pursuing clinical tests outside of the U.S., including Canada. FDA initially denied Neuralink's request for clinical trials due to safety concerns, which were reported in 2023. Since then, the FDA has given Neuralink approval to conduct clinical trials. These are currently ongoing. Environmental Protection Agency SpaceX is subject to environmental regulations by the EPA which supervises its wastewater discharges in Texas. The National Environmental Policy Act also requires that the company's operations be subject to an environmental review. Several agencies, including the Fish and Wildlife Service, are required to evaluate the impact of its rocket launches and landings, on land, water and animals. Federal Aviation Administration In September, FAA proposed that SpaceX be fined $633,000 for failing to comply with license requirements before two 2023 launches. This investigation is still ongoing. After a series explosions, the FAA may also impose additional restrictions or scrutiny. Securities and Exchange Commission Musk has been involved in litigation with SEC regarding his takeover of Twitter 2022. Musk will now respond to these allegations this month. According to a letter Musk's attorney posted on the social media platform X in December, the regulator had also opened an investigation into Neuralink. Federal Trade Commission The FTC protects consumers by ensuring that social media platforms like Musk's Platform X respect children's privacy, and secure Americans' data. The FTC which enforces antitrust laws also opened a recent investigation into the coordination between media watchdogs, of which Musk accused some of orchestrating a group advertiser boycott of his social media website.
-
Heatwave in Europe forces France to close schools and Italy to limit outdoor work
France closed scores of schools, and Spain announced that last month was its hottest ever June as a severe, heatwave gripped Europe. The heatwave was blamed by trade unions for the death of a 47 year old man who died on a building site near Bologna on Monday. According to the EU's Copernicus Climate Change Service (CCS), Europe is the fastest-warming continent in the world. Extreme heatwaves occurred earlier in the year and continued into the later months. Clare Nullis, spokesperson for the World Meteorological Organization, said: "What makes this year exceptional is not only that it is a unique time of year but also its exceptionality." "We're in July, and we're experiencing extreme heat that we normally see later in the summer," said World Meteorological Organization spokesperson Clare Nullis. She said that higher temperatures in the Mediterranean Sea tend to "intensify the extreme temperatures on land areas." A heat dome above Europe trapped hot air, causing the Mediterranean Sea to be up to 6 degrees Celsius warmter than normal for this time of year. The Spanish Balearic Sea reached a record high of 30 C (86 F), according to the AEMET weather forecaster. AEMET reported that Spain had its hottest June ever last month with an average temperature 23.6 C. Tommaso Della Longa said that the IFRC has established a "climate shelter" to help residents deal with the scorching temperatures in southern Malaga. Swiss Re estimates that extreme heat kills 480,000 people per year around the globe. This is more than the combined death toll of floods, earthquakes, and hurricanes. HEALTH ALERT Meteo France, a weather forecaster, said that temperatures in France would peak on Tuesday. In some places, they will reach 40-41 C, while in others, 36-39 C. 16 departments will be at the highest alert level from noon onwards, while 68 are on the second-highest. The Education Ministry reported that 1,350 schools are closed or partially shut down, compared to 200 around Monday. Visitors are advised to drink lots of water as the top floor of Eiffel Tower is closed on Tuesdays and Wednesdays. Italy issued heatwave alerts in 17 cities including Milan and Rome. News agencies reported that a 53 year-old woman in Sicily with a heart problem died walking through the city of Bagheria. It is possible she suffered heatstroke. Scientists believe that greenhouse gas emissions caused by burning fossil fuels is a major cause of climate changes. Deforestation, industrial practices and other factors also contribute to this. The planet experienced its hottest year ever in 2018. We hear about climate change all the time. Omar Bah of a London rental company said, "I think we feel it now." Tourists in Europe also looked for ways to stay cool. Susana Leivonen (45), a Finnish woman, said that she woke up early to leave as soon as possible. This allowed her and her family time to rest in the afternoon. The family was prepared with sun lotion and water, and they planned to take a break in the shops or have an afternoon nap. As France, Europe's largest grain producer, begins harvesting its crop this year, scorching temperatures are increasing the risk of fire. Many farmers work through the night in order to avoid the peak temperatures during the afternoon. (Additional reporting from Emma Farge; Kate Abnett; Gus Trompiz; Rachel More; Sudip Kar Gupta; Alvise Armellini. Writing by Ingrid Melander. Editing by Bernadettebaum)
US LNG exports drop in June due plant maintenance
According to preliminary data, LSEG, U.S. liquefied gas exports in June fell to the second-lowest monthly level of the year, due to maintenance work being done at the largest export facilities.
LSEG data revealed that the United States, which is the top LNG exporter in the world, sold 8,4 million metric tonnes of super-cooled gas during the past month. This was down from the 8.9 MT of May, and far below the record set by April of 9,3 MT.
The decrease in LNG exports is mainly due to maintenance at Cheniere’s Sabine Pass facility, which produces 4.5 billion cubic foot per day in Louisiana. It also includes its Corpus Christi plant, which produces 2.4 bcfd in Texas.
According to LSEG, Cameron LNG's plant in Louisiana, which produces 2.0 bcfd, also had maintenance. Freeport LNG, which produces 2.1 bcfd, experienced unplanned outages.
According to LSEG, maintenance at Cameron LNG and Sabine Pass LNG plants appeared to be complete by the end of the second week of June. The plants were producing close to their capacity.
EUROPE DOMINATES BUYERS
Data shows that the ongoing trade wars between the United States and Asia continue to affect the demand for LNG. The first half of this year saw a drop in LNG imports of 16 MT compared to 2024.
Gas prices in Asia were higher than in Europe in June. The Asian benchmark Japan Korea Marker rose to $12.90 from $11.83 per mmBtu in May. The European benchmark Title Transfer Facility, in the Netherlands rose from $11.68 to $12.38 in June.
LSEG data show that even with a slight arbitrage in favor of Asian exports, U.S. LNG producers only exported 5.53 MT (66%) to Europe in June. This was lower than the 6.05 MT (68%), which went to Europe during May.
LSEG data show that exports to Asia remained low in June, with only 1.56 MT (or 19%) of total exports going to Asia compared to 1.88 MT (21%) in May.
Due to the shorter shipping time from the Gulf Coast, LNG Canada Train 1, which is a 14 mtpa LNG plant, will likely compete with U.S. LNG Exports.
The US exports more LNG closer to home
The United States increased its exports of gas to Latin America, with 0.81 MT or 10 % of all cargoes. This was due to colder weather conditions in South America and difficulties in obtaining enough domestic gas in Argentina. LSEG data show that this is a significant increase from 0.66 MT, or just under 7% of all cargoes in May.
According to LSEG, Argentina bought 340,000 tons of LNG alone in June. The U.S. supplied a third of this, and Trinidad and Tobago provided 230,000 tons.
LSEG data shows that U.S. LNG exporteders continue to demonstrate versatility with exports to Egypt, South Africa and other countries in June.
In June, a number deals were announced between U.S. LNG producers and buyers in Asia. These could lead to even more LNG leaving U.S. port over the next five-year period and maintain the country's position as the largest LNG exporter in the world. Reporting by Curtis Williams, Houston; Editing and proofreading by Alison Williams & Mark Porter
(source: Reuters)