International
Iran has warned that restrictions on its oil exports will carry wider economic consequences, as tensions around the Strait of Hormuz continue to unsettle global energy markets. The latest message came from Iran’s First Vice President Mohammad Reza Aref, who linked fuel price stability to the removal of both economic and military pressure on Iranian […]
International
Oil Prices Jump As Hormuz Tensions Return Oil prices rose sharply in early Sunday trading after a fresh U.S.-Iran standoff in the Strait of Hormuz stranded tankers and renewed fears over global energy supplies. The Strait of Hormuz remains one of the world’s most important oil transit routes, so any disruption there quickly affects crude […]
International
Eight India-bound ships returned after attempting to cross the Strait of Hormuz on April 18 as tensions in the waterway escalated sharply. The disruption followed reported firing near vessels trying to pass through the strait, forcing several ships carrying cargo meant for India to abort the crossing. A number of India-bound vessels were said to […]
National
India is set to receive its first shipment of Iranian crude oil in seven years, with a tanker carrying about 600,000 barrels expected to arrive at Gujarat’s Vadinar port this week. The development marks a limited revival in Indo-Iran oil trade after years of disruption caused by US sanctions. India To Receive Iranian Oil After […]
International
Petron Corp, the Philippines’ only oil refinery, has secured nearly 2.5 million barrels of crude from Russia after losing access to around 4 million barrels in cancelled shipments since the start of the US-Israel war on Iran. The move reflects the growing pressure on Asian fuel markets as the conflict disrupts normal crude flows and […]
International
Kuwait’s crude price climbed sharply to $118.93 per barrel after rising by $8.10, as the conflict involving Iran and the disruption around the Strait of Hormuz continued to drive fears of tighter global energy supplies. The jump reflects the broader pressure on oil markets as traders remain focused on the risk of prolonged instability in […]