Brent crude rose roughly 5% to $94.86 a barrel on September 2, its highest since late July, after the US military launched fresh strikes around the Strait of Hormuz following alleged Iranian mine-laying.
Tag: Strait of Hormuz
Posted inGeopolitics
Iran Claims US Strike Hit a Wedding in Kuhestak as CENTCOM Launches New Hormuz Barrage
Iranian state media says a US airstrike killed at least four people at a wedding celebration in Kuhestak, Sirik County; US Central Command says it is reviewing the reports.
Posted inGeopolitics
US Strikes Iranian Rocket Launchers on Larak Island as IRGC Fires Back
American forces destroyed two Iranian rocket launchers on Larak Island on August 31, the first US strike in the strait in nearly a month, drawing IRGC missile salvos at air bases in Jordan and the UAE.
Posted inGeopolitics
Iran’s IRGC and US Naval Blockade Lock Into Stalemate Over the Strait
With the Islamabad Memorandum’s 60-day window elapsed, Iran’s IRGC is asserting Strait of Hormuz control while Washington enforces its naval blockade and Tehran refuses new sanctions terms.
Posted inGeopolitics
Iran Declares Fully Offensive Military Stance as 60-Day Ceasefire Expires
Iran declared a fully offensive military posture after its 60-day US ceasefire expired, demanding sanctions relief and an end to Washington’s naval blockade.
Posted inGeopolitics
Iran and Oman Fix Hormuz Coordinates but Tehran Demands More From Washington
Iran and Oman agreed on geographic coordinates for Strait of Hormuz shipping lanes, but Tehran says the deal alone cannot reopen the waterway without further US concessions.
Posted inMarkets
Brent Rises Above $84 as Iran Demands Sanctions Relief Before Hormuz Can Reopen
Brent crude climbed past $84 a barrel on August 10 as Iran’s foreign minister ruled out any Strait of Hormuz deal without US sanctions relief and war reparations, keeping a risk premium in oil prices.
Posted inGeopolitics
Iran Hits Kuwait Water Plants for Fourth Day as Gulf States Activate Defenses
Iran struck Kuwait’s desalination plants for a fourth day on July 21 as Bahrain, Jordan and Qatar activated air defenses amid the widening US-Iran exchange.
Posted inWorld
Iran Shuts the Strait of Hormuz and Imposes a Toll Regime on Shipping
Iran formally closed the Strait of Hormuz to foreign shipping on July 12, demanding toll payments and regime-approved routing as U.S. gas prices hit $3.87 per gallon and diplomatic options narrowed.
Posted inMarkets
Brent crude tops $78 on fresh US strikes as Trump weighs targeting Kharg Island
Brent crude settled above $78 a barrel on Wednesday, up more than 5%, after the US launched a second day of strikes on Iran, the US Treasury revoked Tehran’s oil sanctions waiver, and Iran threatened to close the Strait of Hormuz.