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As the Middle East conflict enters its third week, rising tensions are pushing global oil prices higher. Crude from the Middle East has seen the sharpest spike, becoming the world’s most expensive oil as disruptions to key supply routes continue. According to a Reuters report, S&P Global Platts assessed cash Dubai crude at $153.25 per…
Oil prices extended their gains as the Middle East conflict intensifies and Strait of Hormuz continues to see disruption, fueling fears of supply disruptions in global markets. On Tuesday, Brent crude futures rose by $2.48, or 2.5%, to $102.69 per barrel at 0058 GMT, while US West Texas Intermediate (WTI) crude advanced by $2.42, or…
US President Donald Trump on Monday claimed that the United States has “literally obliterated” Iran’s military capabilities, saying American forces have struck more than 7,000 targets across the country since the start of the conflict, even as he urged other nations to join efforts to secure shipping through the Strait of Hormuz.Speaking ahead of a…
NEW DELHI: A central government source on Monday dismissed as “baseless” a report claiming that India and Iran had discussed the release of three ships seized by New Delhi in exchange for ensuring safe passage of vessels through the Strait of Hormuz. The source also rejected assertions that the vessels were owned by Iran.“This report…
File photo: British PM Keir Starmer UK Prime Minister Keir Starmer said on Monday that Britain “will not be drawn into the wider war” in the Middle East, even as it works with the US, European partners and Gulf allies on a “viable collective plan” to reopen the Strait of Hormuz, the critical energy chokepoint…
Tehran has asked New Delhi for the release of three seized tanker ships in return for the safe passage of India-bound tankers through Strait of Hormuz amid the ongoing Gulf crisis triggered by US and Israel’s attack on Iran, Reuters reported citing sources on Monday. The report said that Iran’s ambassador to India met foreign…
As the Middle East crisis escalate and Iran continues to choke Strait of Hormuz, Saudi Arabia has moved to pitched another option to its long-term oil buyers. The kingdom is offering long-term buyers the choice to receive their April crude shipments through its Red Sea port of Yanbu, amid ongoing disruptions in the Strait of…
Diplomacy over deployment. (Ians file photo of Jaishankar) NEW DELHI: India is stepping up diplomatic engagement with Iran to restore shipping through the strategic Strait of Hormuz, positioning dialogue with Tehran as an alternative to the military approach advocated by US president Donald Trump.New Delhi has hailed its direct talks with Iranian authorities as the…
S Jaishankar (PTI file photo) NEW DELHI: India hailed its direct talks with Iran as the “most effective way” to restart shipping through the disrupted Strait of Hormuz, which has affected global supplies, while Tehran allowed Indian-flagged vessels to pass through the route.In an interview with the Financial Times, external affairs minister S Jaishankar praised…
US President Donald Trump US President Donald Trump’s call to seven countries to send warships to help keep the Strait of Hormuz open has drawn a negative response from Washington’s allies, putting his plans in jeopardy.While he named China, Britain, France, Japan and South Korea in a social media post on Saturday, urging them to…
