Thai Tanker Transits Hormuz after Iran Talks
A Thai oil tanker has safely passed through the Strait of Hormuz following diplomatic coordination between Thailand and Iran, and was not required to pay to escape the blockade, a Thai official and the oil major that owns the vessel said on Wednesday.The Bangchak Corporation BCP.BK-owned tanker crossed the strategic waterway on Monday after successful talks between Thai foreign minister Sihasak Phuangketkeow…
Blaze Hits Russia’s Ust-Luga Oil Port Following Drone Strike
A fire broke out at Russia's Baltic Sea port of Ust-Luga, a major oil export hub, after a major Ukrainian drone attack, Russian officials said on Wednesday.Ukraine has stepped up drone attacks on Russian oil refineries and export routes over recent weeks in an attempt to weaken Russia's war economy.Ust-Luga and Primorsk, on the Gulf of Finland, were forced to suspend exports of oil and crude on Sunday after drone attacks but they had restarted loadings on Monday…
Iran to UN: 'Non-Hostile' Ships Can Transit Strait of Hormuz
Iran has told the United Nations Security Council and the International Maritime Organization that "non-hostile vessels" may transit the Strait of Hormuz if they coordinate with Iranian authorities, according to a note seen by Reuters on Tuesday.The U.S.-Israeli war against Iran has all but halted shipments of about one-fifth of the world's oil and liquefied natural gas through the strait, causing…
Oil Falls on Middle East Ceasefire Hopes, Easing Supply Fears
Oil prices sank about 4% on Wednesday after reports the United States had sent Iran a 15-point proposal aimed at ending the war in the Middle East, raising prospects of a ceasefire that could ease supply disruptions in the region.Brent crude futures LCOc1 fell $4.17, or 4%, to $100.32 a barrel by 0708 GMT, after declining to as low as $97.57. U.S. West Texas Intermediate crude CLc1 futures were down $3.11…
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