Middle East

On Monday, two tankers bound to India passed through the Strait of Hormuz as U.S. president?Donald Trump warned that he would attack Iran's nuclear power plants if?Tehran did not drop its threats which have effectively shut down the Gulf. Since the beginning of the Iran war on February 28, exports to Gulf nations, including Saudi Arabia and United Arab Emirates, have been blocked. Tehran has also launched attacks against ships and warned anyone passing through the southern strait in the Gulf. The two tankers, both with Indian flags, were transporting liquefied Petroleum Gas (LPG), which is mainly used for cooking...

The 'Dubai Media Office' said on Monday that authorities are?dealing?with a??fire? resulting??? from a drone attack near the Dubai International Airport. They added that there were no reported injuries. Dubai authorities stated that the drone attack had hit a fuel tank, and civil defence teams are working to control the fire. Gulf Arab states have been subjected to more than 2,000'missile and drone attacks' since the U.S. and Israeli war against Iran began on February 28. These include U.S. military bases and diplomatic missions, but also vital Gulf oil infrastructure and ports, airports and hotels, as well as residential and...

India's Government said that an Indian flagged vessel, loaded with 80.800 metric tonnes of Murban oil from the United Arab Emirates, left Fujairah on Sunday. This was a day after sources reported that'some loading operations were suspended' at the UAE port. Sources said that oil loading operations in the UAE's Fujairah, a major hub for bunkering and crude export, have resumed following a Saturday drone attack and fire. However, it is unclear whether the operations are back to normal. India's Ministry of Petroleum and Natural Gas stated that the vessel, Jag Laadki was loading oil at Single Point Mooring when...

U.S. President Donald Trump told Fox News that he is 'looking into'?loosening the?shipping regulations under the Jones Act. He said in an interview aired Friday that he will 'look at it, but he did not give any...other details. Trump stated in an interview with Fox News Radio’s "The Brian Kilmeade show" recorded on Thursday evening, "We'll look, we'll look at everything and it's going to work out." Trump talked about military plans for 45 minutes, claiming that the U.S. The military has not yet targeted Iran's infrastructure, or its uranium stockpile. When asked about U.S. plans to take Iran's Kharg...

Russian ESPO blend crude loaded from Kozmino in April and 'early May' has surged at a premium to Brent in Chinese and Indian port, traders reported on Friday. This is due to supply shortages caused mainly by the Iran -war and a softerening of america sanctions. The easing of?U.S. sanctions and the supply'shortages caused by the Iran -war' have fueled demand. After the United States allowed Indians, who were affected by a reduced Middle East oil supply, to buy Russian crude, prices for Russian crude jumped in comparison to Brent. Four sources said that the 30-day waiver granted to Indian...

Donald Trump stated that the United States would escort vessels through the Strait of Hormuz, if necessary. He also said in an interview with Fox News that was aired Friday that they were going to strike Iran "very heavily" over the coming week. When asked about helping oil tanks pass through the key shipping strait in question, Trump replied: "We'd do it if we needed to." You?know, I hope that everything goes well. We're going see what happens." He did not give any other details. He said in an interview with Fox's Brian Kilmeade, which aired a part of the...

Transport Minister Abdulkadir Uraloglu stated that Turkey was looking to sell some operating rights of highways and bridges in order to reduce budget pressures. However, the country has no plans to sell these assets. Heavy maintenance on major highways and roads increases the cost to the state. Uraloglu added that Ankara was working to see if this work could be transferred?to private operators. "Highways are not sold. "We are examining the possibility of granting 'operating rights' for certain periods, and transferring the cost to the operator in order to avoid additional pressure on budgets," Uraloglu stated. "There has been no...

Gene Seroka, the executive director of the Los Angeles container port, said that it was largely insulated from disruptions in supply chains caused by U.S. and Israeli attacks against Iran. These attacks have escalated into a conflict within the region. The Iran War has caused container shipping to be snarled in the Middle East. It has increased costs, left ships and their cargoes stranded, and posed fuel shortages. Seroka stated that "we, right now, do not see any congestion occurring" on the lucrative Transpacific Ocean Trade that is the lifeblood of Port Los Angeles. China and Asia are important trading...

DP World, a global ports operator, expects higher volumes 'at its Red Sea Terminals 'as the Iran Conflict approaches the two-week mark, %its CEO stated on Thursday. The Strait of Hormuz is closed and spiraling tanker attacks are cutting traffic to Gulf ports. Conflict triggered by U.S., Israeli and other airstrikes against Iran has affected energy and transport markets, and closed the world's main oil artery. The narrow waterway of Hormuz is the only way to reach most major Gulf ports. Yuvraj 'Narayan, CEO of DP World, said that Jebel Ali, DP World’s flagship hub in?Dubai is still fully operational,...

John Healey, the UK's defence minister, said on Thursday that the UK is looking at additional options to deploy?to Gulf following the increase in attacks by Iran on vessels. He also noted that the UK already has autonomous mine-hunting systems in the area. Royal Navy (RN), said last week that its last minehunter HMS Middleton was based out of Bahrain and had returned to Britain in March?1. The vessel was over 40 years old and was "no longer certified for sailing", it stated. Healey stated that "we already have some autonomous mine hunting systems in the area." Healey said that...

A review of tanker tracking data revealed that Iranian crude oil continued to flow at a near normal pace through the Strait of Hormuz, even though?attacks on ships by the government of Iran in the narrow waterway?have decimated the exports of other Gulf countries. According to an analysis by TankerTrackers.com a maritime intelligence firm that specializes tracking shadow fleets, a network used to transport oil from countries under Western sanctions, Iran has exported 13.7 million barrels since Israel and the U.S. attacked the country on 28 February. Kpler, a vessel tracking service, estimated Iranian exports for the first 11 days...

U.S. Energy Secretary Chris Wright stated on Thursday that global oil prices are unlikely to reach $200 per barrel, even though?crude?tankers remain stalled in Strait of Hormuz while the U.S.-Israeli war against Iran has widened. Wright said that he thought it unlikely but was focused on the military operations and the solution of the problem when asked if oil prices would hit $200 per barrel. This is a price level which could be reached if the war escalates, according to an Iranian official on Wednesday. The spokesperson for Tehran's Khatam al-Anbiya Military Command HQ, Ebrahim Zolfaqari said, "Get ready for...

Two El Feel engineers reported that the El Feel oilfield in Libya has been closed since Thursday because National Oil Corporation, the state-owned oil company, used its 'pipeline' to transport crude from Sharara after its pipeline had been damaged by fire. The engineers said that the flow of Sharara oil was redirected through the El Feel pipeline and the Hamada pipe to the storage tanks at Zawiya. An engineer at the Sharara oilfield said that Sharara's alternative pipelines can pump between 80,000 and 100,000 barrels of oil per day. El Feel is operated by Mellitah Oil and Gas. This joint...

The Iraqi 'oil ministry' said that the Kurdistan Regional Government?refused it to use a pipeline for an alternative route for crude shipments disrupted by?the Iran _conflict. It accused authorities in Kurdistan of placing irrelevant conditions. Senior Kurdish officials told authorities that they would welcome the Iraqi government using the pipeline. However, Baghdad must first lift its "dollar embargo", which he called on the region. "We want to make a deal." "We want to help Iraq, and bring relief? to the markets. But this embargo has got to end first," said the official. Sources told The Daily Mail on 8 March...

Iran has threatened to escalate tensions across the Middle East in retaliation for American airstrikes against its energy hub and the?U.S. Donald Trump called on friendly nations to send warships into the Strait of Hormuz to secure it, as there was no sign of a 'war' ending Sunday. The U.S. and its allies are facing high energy prices due to the fact that Iran can stop shipping through the Strait of Hormuz, which is a major channel for shipping oil and gas. "Countries that receive oil through the Hormuz Strait are responsible for that passage and we will assist a...

After a Saturday drone attack and fire, some oil-loading activities have been suspended at the United Arab Emirates’?Fujairah Port, a global hub for refuelling vessels?aswell as crude fuel and exports. Why Does FUJAIRAH Matter Globally? According to Kpler, Fujairah exported a total of 1.7 million barrels of crude oil per day and refined fuels in average during the past year. This volume is equivalent to 1.7% of world daily demand. Fujairah is situated on the Gulf of Oman and is approximately 70 nautical mile from the Strait of Hormuz which is currently closed because of the Iran conflict. This increases...

Donald Trump, the U.S. president, threatened to?order attacks on the petroleum infrastructure of Iran’s Kharg Island oil center unless Tehran stopped targeting vessels in the Strait of?Hormuz. This warning could further roil the markets that are already dealing with a historic supply disruption. Trump's ultimatum was accompanied by a post on social media claiming that the United States "totally destroyed" military targets on the island. The island is the export terminal of 90% of Iran's oil, and lies approximately 300 miles (483 kilometers) northwest from the Strait. Trump wrote that U.S. strikes did not target Kharg’s oil infrastructure. However, "should...

Two explosive-laden unmanned boats rammed a Safesea 'Vishnu' tanker in an Iraqi port on Wednesday. The explosion engulfed vessel's portside in flames, and the crew had only seconds to respond, according to a preliminary assessment by the vessel’s U.S. operator and owner. The?Safesea Group, based in New Jersey, said that after speaking with the crew members who survived the attack, it appeared to be deliberate and calculated. At least 16 vessels, including tankers and other vessels, have been attacked in the?Gulf as a result of the U.S./Israeli war against Iran. The threat by Tehran to attack vessels in or near...

Iran, following through on a long-standing threat, has closed the Strait of Hormuz in retaliation to U.S. and Israeli strikes. This waterway is vital, as it carries a fifth of all global oil supplies. The United States has said that it could consider escorting ships through the Strait of Hormuz, which would be very difficult to secure, as the Houthis from Yemen proved last year when they disrupted Red Sea shipping. According to United Nations data, about a fifth of global oil and LNG normally passes through the Strait. Traffic has decreased by 97% since February 28 when the U.S./Israeli...

Data released on Friday showed that a barrage of Ukrainian drone strikes against Russia's Black Sea oil export facilities as well as severe storms and ice conditions in Baltic Sea affected Russian oil exports. The United States issued a waiver on Thursday for countries to purchase sanctioned Russian crude oil and petroleum products that were stranded in the sea. This was done to stabilize global energy markets, which had been roiled by war with Iran. The easing of U.S. sanctions may not have a major impact on Russia's oil production due to the drone attacks and the bad weather. The...

Two sources have told 'that the top oil exporter Saudi Arabia cut its oil production by 2 million barrels a day, to 8 million bpd. This was after it reduced output from two major offshore fields in response to the 'Iran -war. Middle East Gulf oil companies have been forced to stop large volumes of production because of the blockage of the Strait of Hormuz - a narrow waterway that connects Iran with Oman - since U.S. airstrikes against Iran began on February 28. Iran said that the world must prepare for oil price?at $200 per barrel. One source, who...

Hayan Abdel-Ghani, the Oil Minister, was quoted on Thursday as saying that Iraq would keep crude 'oil' production at 1.4 million barrels a day. This is less than a third of the level before the U.S.-Israeli war with Iran. According to state news agency, according to the minister, 200,000 bpd are being transported via truck through Turkey Syria and Jordan, and that Iraq has implemented a plan to deal with the current disruptions. Sources told?that oil production in Iraq's southern oilfields has dropped 70%, to just 1.3m bpd. This is because the country cannot export via the Gulf due to...

Two sources familiar with the issue said that Iran had deployed about a dozen mines in the Strait of Hormuz. This move was 'likely' to complicate the reopening of this narrow waterway. It is an important route for shipping liquefied gas and oil. The 'war' launched by Israel and the United States 12 days ago has effectively halted the exports of LNG and oil through the strategic chokepoint on the Iranian coast, which is helping to?drive up world energy prices. Iran's military leadership said on Wednesday that the world should prepare for oil prices to reach $200 per barrel. According...

Tim Hodgson, Minister of Natural Resources, said that Canada would look for ways to boost its crude production in order to stabilize oil prices globally as a result of the Iran War. Hodgson, a reporter in Ottawa, said that the Canadian government has been talking to oil producers in Canada about delaying planned maintenance at oil sands plants in order to temporarily boost output. The Canadian government is also urging refineries in Canada that use imported oil to switch to domestic oil in order to increase supply to other regions. The International Energy Agency agreed on Wednesday to release 400,000,000...