Tankers carrying a total of 80 million barrels of crude are preparing to move through the Strait of Hormuz after the signing of the preliminary deal between the United States and Iran, Bloomberg reported today, citing data from Vortexa. The crude is on 40 tankers, of which 21 will be heading for Asia, with five going to […]
Oil prices began to climb once again in early Asian trade on Friday due to uncertainty over the outcome of peace talks between the United States and Iran after Switzerland confirmed the talks had been postponed. At the time of writing, Brent crude had climbed back above $80 per barrel while West Texas Intermediate had risen to $76.28. Reuters reported on […]
The U.S. and Iran say they have reached a deal to reopen the Strait of Hormuz, setting the stage for talks on Tehran’s nuclear program and potentially ending a conflict that disrupted global energy markets and raised concerns over oil supplies.
The Strait of Hormuz will ultimately reopen but Iran and Oman will set new conditions for passage, including transit fees, Kazem Jalali, Iran’s Ambassador to Russia, told Russian daily Izvestia in an interview on Monday.
Commercial vessel traffic through the crucial Strait of Hormuz appeared to remain limited over the past day, amid uncertainty over prospects for a U.S.-Iran peace deal. Just two inbound commercial transits were observed on Tuesday morning, following two outbound ships on Monday, according to ship-tracking data compiled by Bloomberg. Shipowners had recently become more optimistic about a […]
US forces intercepted Iranian ballistic missiles and drones aimed at neighboring Middle East countries and struck a command center in the Islamic Republic in response – the latest flare-up to test a fragile ceasefire. US Central Command said Iran on Tuesday launched several ballistic missiles toward countries including Kuwait and Bahrain. Some were shot down by […]
US President Donald Trump said talks with Iran over an interim peace deal will “work out well,” even as the countries’ forces clashed again near the Strait of Hormuz.
The US and Iran have reached a tentative deal to extend a ceasefire by 60 days and launch further talks on Tehran’s nuclear program, a person with knowledge of the matter said, raising hopes the three-month conflict could be nearing a resolution.
The U.S. and Iran are moving closer to a potential agreement that could reopen the Strait of Hormuz, though negotiators remain divided on key provisions tied to sanctions relief, uranium enrichment and enforcement measures.
What would the implications be for the oil market if Iran decided to permanently tax/toll traffic through the Strait of Hormuz? According to Howard Shatz, a senior economist at RAND and a professor of policy analysis at the RAND School of Public Policy, if the U.S.-Iran conflict led to a permanent tax or toll in […]