Oil Tanker Hits Sea Mine in the Strait of Hormuz, Iran’s Revolutionary Guards Say
An oil tanker caught fire after striking a sea mine while sailing through the Strait of Hormuz, Iran’s Islamic Revolutionary…
crude oil
Hormuz, Red Sea disruptions further tighten global oil supplies
Around 12 to 15 per cent of global maritime trade, valued at more than $1 trillion, passes annually through the…
Brent crude rises above $100 a barrel as Middle East tensions escalate
Brent crude futures rose $2.01, or 2.05 per cent, to $99.93 a barrel by 1:02pm PKT, after touching an intraday…
US Strategic Petroleum Reserve weakened as Iran war continues
The US Strategic Petroleum Reserve (SPR), established after the oil crises of the 1970s, stores crude oil in 60 underground…