Iran’s grip on the Strait of Hormuz keeps weakening — and crude oil exports are recovering
In September, crude oil exports from the Middle East saw a significant increase as Iran’s grip on the Strait of Hormuz weakened. Recent data revealed that nineteen very large crude oil carriers, amounting to approximately 38 million barrels, made their way through the strait last week, as reported by Kpler. ‘You are preventing them from […]
Trump Dismisses Iran’s Hormuz Agreement: ‘They Are Struggling Significantly’
Trump Dismisses Iran’s Proposal on Strait of Hormuz President Donald Trump turned down Iran’s recent offer to reopen the Strait of Hormuz on Saturday, claiming that Tehran is “losing so badly” as the U.S. employs what he labeled the “greatest blockade ever in military history.” He expressed a readiness to negotiate, but only under terms […]
Trump Dismisses Iran’s 7-Day Hormuz Plan, Plans to Resume Strikes After Midterms
Trump Dismisses Iran’s Proposal for Strait of Hormuz President Donald Trump has turned down Iran’s suggestion for a seven-day plan to reopen the Strait of Hormuz and has indicated to his aides that he anticipates U.S. military strikes against Iran to resume following the November midterm elections. According to a report from the Wall Street […]
Metals rise as Hormuz negotiations ease crude prices, yields remain high
Gold and Silver Prices Update In early U.S. trading on Friday, spot gold prices saw a slight increase while spot silver prices experienced a notable rise. This uptick comes amidst falling oil prices fueled by renewed hope for a U.S.-Iran truce. However, the combination of elevated Treasury yields and expectations of further rate hikes from […]
Saudi Arabia is said to have restarted the pipeline that transported oil around Hormuz after drone attacks caused it to stop working.
Saudi Arabia Resumes Pipeline Operations Saudi Arabia has allegedly resumed operations on its pipeline that bypasses the Strait of Hormuz, which had been shut down due to drone attacks earlier in September. According to three unnamed sources who informed Reuters, the kingdom may begin crude exports from its Red Sea port of Yanbu later on […]
1B Passes Through Hormuz, ‘Strong Blockade’ Keeps Iran at 0
U.S. Forces Aid Oil Passage Amid Ongoing Tensions with Iran According to U.S. Central Command (CENTCOM) chief Adm. Brad Cooper, U.S. military forces have facilitated the passage of over one billion barrels of crude oil through the Strait of Hormuz recently, while Iran has reportedly exported none due to Washington’s strict measures. Cooper noted that […]
China Urges Iran to Control Houthis and Restore Access to the Strait of Hormuz
China’s Request to Iran Regarding Houthi Attacks Following a failed bid for support within BRICS and from China, Iran received a private message from Beijing urging them to control the Houthi rebels in Yemen. These insurgents have been attacking Saudi Arabia and trying to disrupt shipping through the Bab el Mandeb Strait. According to Reuters, […]
China Urges Iran to Allow Access to the Strait of Hormuz During Foreign Minister’s Visit to Beijing
Chinese Minister’s Call for Action in Strait of Hormuz During a meeting in Beijing on Wednesday, Chinese Foreign Minister Wang Yi encouraged Iran to reopen the Strait of Hormuz and adhere to the June memorandum of understanding (MOU) with the United States, as discussed with Iranian Foreign Minister Abbas Araghchi. “We urge all parties to […]
Scott Bessent’s Bold Prediction About Hormuz Deteriorates Quickly
Houthi Attacks Challenge Predictions on Strait of Hormuz Treasury Secretary Scott Bessent suggested earlier this month that the Strait of Hormuz could become irrelevant to the oil trade within two years, as overland pipelines would provide alternatives to the Persian Gulf. However, recent Houthi attacks on Saudi Arabia’s East-West pipeline may be casting doubt on […]
China Reenters The Oil Market As Hormuz Turmoil Drives Crude Prices Toward $110
After several months of relying on its own crude reserves, China is re-engaging with the global oil market, introducing a new layer of demand as disruptions from the ongoing war in Iran cause supplies to dwindle and prices to rise. As the leading crude importer worldwide, China had tempered global market dynamics earlier this year […]