Saudi Arabia turns to stored oil as pipeline shutdown threatens European supplies
Riyadh has set no restart date for the East-West line, leaving deliveries to Europe and Asia dependent on how long the stoppage lasts.
Popular articles tagged "Strait of Hormuz"
Riyadh has set no restart date for the East-West line, leaving deliveries to Europe and Asia dependent on how long the stoppage lasts.
The US President spoke as Brent crude climbed towards $97 a barrel and eurozone inflation hit a near three-year high.
The Revolutionary Guard said the barrage was retaliation for a US strike on a house in southern Iran where at least four people died, as hostilities resume after…
Jordan said its air defences destroyed eight incoming missiles, while oil climbed back above $90 (€78) a barrel.
Mohsen Rezaei told Qatar's Prime Minister that Tehran would strike American military and economic targets, while setting conditions for reopening the strait.
The Israeli prime minister has welcomed Washington's decision to squeeze third countries and firms still trading with Tehran.
Nearly 60 entities, individuals and vessels have been designated as Washington opens what it calls Operation Economic Outcast.
Beijing has cast itself as a broker in a conflict that has kept Europe's main energy artery shut since February.
Europe's own long-range strike programmes remain years from delivery, leaving allies dependent on an American production line that is only now being rebuilt.
The US President spoke hours after American forces disabled a cargo ship that had tried to run the blockade of Iranian ports.
Washington says the raids answered an attempted Iranian missile attack on American troops in Jordan.
Baghdad's Popular Mobilisation Forces have reported dozens of casualties in the first Saudi air operation inside Iraq since the war with Iran began.
Jordan says it shot down five missiles in an attack that has driven oil prices sharply higher and renewed pressure on European energy costs.
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Four Republicans joined Democrats to rebuke President Donald Trump, though a binding measure failed in the Senate hours later.
Iran's Revolutionary Guard claims strikes on United States bases in Bahrain and Kuwait as Washington presses its campaign to reopen the waterway.
Renewed fighting has kept the Strait of Hormuz shut for a fifth month, driving European energy prices higher.
The Franco-British force positioned off Oman is still waiting for the order to clear the mines that keep the Strait of Hormuz shut.
US President announced the reversal a day after unveiling the levy following what he called highly productive talks with Middle Eastern leaders.
The notification restarted a 60-day window during which the president may deploy forces without congressional approval.
The EU insisted the strait stay open without charges after US President named Washington the waterway's "guardian" and demanded a fifth of the value of all cargo.
The US President said the memorandum of understanding signed with Iran in June was finished.
The US president tells a NATO summit in Ankara that talks with Tehran are a waste of time, hours after the two sides trade fresh strikes.
The renewed bombardment is the latest exchange in a faltering ceasefire, with Washington blaming Iranian attacks on commercial shipping in the strait.
The group has been unwinding a cut of 1.65 million barrels a day agreed in 2023, when the alliance still included the United Arab Emirates.
The agreement created an opportunity to ensure Iran never obtained a nuclear weapon, NATO Secretary General said.
Washington and Tehran reached a preliminary agreement on June 14 to halt hostilities and reopen the waterway.
Ursula von der Leyen, António Costa and Kaja Kallas backed the deal.
"The Deal with the Islamic Republic of Iran is now complete," Trump announced.
The US President claimed the pact could be concluded in two or three days and that the strait would reopen the moment it was signed.