US President Donald Trump responded to a social media post saying that “a wave of empty tankers” were headed to the United States to collect crude oil. Trump shared the post on Truth Social on Saturday, writing, “Awesome!!!”“It’s great to see the wave of empty tankers heading to the US to pick up some much-needed…
Image used for representative purposes A fragile ceasefire between the United States and Iran has injected cautious optimism into the Strait of Hormuz, one of the world’s most strategically sensitive sea corridors. But despite the diplomatic moratorium, shipping through the waterway still remains disrupted, uneven, and heavily regulated for security reasons.The strait, which connects the…
As the Middle East crisis escalates, if the near-closure of the Strait of Hormuz continues for the next six to eight weeks, crude oil prices could rise to $150 or $200 per barrel. The disruption is a result of the ongoing war between the US, Israel and Iran, which has already prompted Persian Gulf producers…
Strait of Hormuz (AP Photo) Iran on Thursday said that, despite ongoing military tensions in the Middle East, it has allowed transit through the Strait of Hormuz for “friendly nations” including India.The Consulate General of Iran in Mumbai shared a statement from Iran’s Foreign Minister Abbas Araghchi, saying: “We have allowed passage through the #Strait…
Taking a breather from recent selling pressure, domestic stock markets opened on a positive note on Tuesday, with both the benchmark indices registering strong gains in early trade. However, market volatility remained high amid ongoing uncertainty related to the Strait of Hormuz. Market experts said that despite the improvement, uncertainty is affecting investor sentiments. (Reuters/File)…
People familiar with the development said two India-flagged liquefied petroleum gas tankers departed from the UAE for yet-unnamed Indian ports, close to the Iranian coastline, on a route set by the Islamic Republic through the Strait of Hormuz. Ship-tracking data showed that the ship, Pine Gas and Jug Spring (visible in the photo), had departed…
