Iran News

Asian refiners are increasingly sending medium-sized crude cargoes from the U.S. Gulf Coast to Asia through the Panama Canal as the U.S.-Israeli war with Iran disrupts trade flows, raises shipping costs and forces Asian refiners to hunt for alternative supplies.The use of medium-sized tankers that typically cost more per barrel to transport crude, coupled with Asian companies' willingness to pay additional fees to move oil through the Panama Canal, underscores their urgent need…

The IMO Council condemned attacks on merchant ships and the purported closure of the Strait of Hormuz during an extraordinary session in London and called for an internationally coordinated approach to security.The Council directed IMO Secretary-General Arsenio Dominguez to establish a safe maritime framework, as a provisional and urgent measure, to facilitate the safe evacuation of merchant ships currently confined within the Gulf region.“I am ready to start working immediately in negotiations to establish a humanitarian framework to evacuate all vessels and seafarers trapped…

The U.S. may soon remove sanctions from Iranian oil that is stranded on tankers to help lift global supplies and reduce prices, U.S. Treasury Secretary Scott Bessent said on Thursday."In the coming days, we may unsanction the Iranian oil that's on the water. It's about 140 million barrels," Bessent told Fox Business Network's "Mornings with Maria" program."So, depending on how you count it, that's 10 days to two weeks of supply," he added.Bessent said the addition of sanctioned Iranian oil into global supplies would help keep oil prices down for the next 10 to 14 days.

Iran accused Israel of striking its facilities in the huge South Pars gas field on Wednesday in a major escalation in the U.S.-Israeli war that sent oil prices shooting higher, and retaliated by vowing attacks on oil and gas targets throughout the Gulf, firing missiles at Qatar and Saudi Arabia.Qatar's state oil giant QatarEnergy reported "extensive damage" after the Ras Laffan Industrial City, an energy-industry hub, was hit by Iranian missiles. Saudi Arabia said it had intercepted…

Major US maritime organizations have issued statements voicing their concern over the Trump Administration’s decision to issue a sweeping 60-day waiver of the Jones Act.Under the Jones Act, goods shipped between U.S. ports must be carried on vessels that are U.S.-built, U.S.-flagged and mostly U.S.-owned. A coalition of U.S. maritime labor organizations, including the American Maritime Officers; American Radio Association; International Organization of Masters, Mates and Pilots…

Iranian gas facilities in the Gulf came under attack on Wednesday, state media reported, prompting Tehran to say it would target a range of energy installations across Saudi Arabia, the United Arab Emirates and Qatar "in the coming hours".Oil prices jumped on the news, with Brent crude futures gaining more than 6% to a session high just shy of $110 per barrel.The attacks on Iran's energy industry in South Pars and Asaluyeh have raised concerns that Iran could also target infrastructure of global energy majors across the Gulf…

Oil loading at the United Arab Emirates port of Fujairah was at least partly halted after a third attack in four days caused a fire at the export terminal, while operations at the Shah gas field remained suspended after an earlier attack.The cascading disruptions threaten to completely sever the OPEC producer's remaining crude export outlet from global markets, potentially deepening a crisis that has sent energy prices surging.The UAE's other export hubs are located within the Gulf…

Oil prices rose more than 1% on Tuesday, as renewed Iranian attacks on the United Arab Emirates heightened concerns about the worsening outlook for global supply if there is no quick resolution to U.S.-Israeli war on Iran, now in its third week.Brent crude futures gained $1.33, or 1.3%, to $101.53 a barrel by 1515 GMT while U.S. West Texas Intermediate (WTI) crude advanced $1.21, or 1.3%, to $94.71.The U.S.-Israeli war on Iran shows no signs of abating. While oil futures have not repeated the brief surge to nearly $120 a barrel from earlier in the month…

Most western oil and gas majors have significant operations in the Middle East, where the U.S.-Israeli war on Iran has disrupted oil and gas shipping and halted some output.France's TotalEnergies, which has the biggest upstream exposure to the region compared with its global output, has said some 15% of its production is offline due to the war.Here are some details on the majors' production in the Middle East, in alphabetical order:BPBP's oil and gas output in the Middle East in 2025…

The U.S.-Israeli war on Iran has threatened Gulf ports and disrupted global trade through the Strait of Hormuz, a vital waterway through which roughly a fifth of the world's oil and liquefied natural gas normally passes. Iran's Revolutionary Guards have warned that any ship passing through the narrow Strait will be targeted.Below is a list of reported attacks since the U.S.-Israeli war on Iran started on February 28:MARCH 1A crew member was killed on board Marshall Islands-flagged crude tanker MKD VYOM after it was hit by a projectile as the vessel sailed off the Omani coast…

Gulf Arab states did not ask the U.S. to go to war with Iran, but many are now urging it not to stop short by leaving the Islamic Republic still able to threaten the Gulf’s oil lifeline and the economies that depend on it, three Gulf sources told Reuters.At the same time, these sources and five Western and Arab diplomats said Washington was pressing Gulf states to join the U.S.-Israeli war. According to three of them, President Donald Trump wants to show regional backing for the campaign…

Several U.S. allies rebuffed Donald Trump's call on Monday to send warships to escort tankers through the Strait of Hormuz, drawing criticism from the U.S. president, who accused Western partners of ingratitude after decades of support.The U.S.-Israeli war on Iran is in its third week with no end in sight. The critical Strait of Hormuz, through which 20% of the world's oil and liquefied natural gas flow, remains largely closed off, raising energy prices and fears of inflation.The conflict has already imposed economic costs on U.S.

Windward is publishing daily intelligence reports on the crisis in the Gulf as the situation develops.The highlights of today's report are as follows:    Commercial traffic through the Strait of Hormuz remains extremely limited, with only three outbound crossings recorded on March 15 and no inbound transits.Maritime security risk across the Gulf remains high, with 20 confirmed incidents involving commercial vessels and offshore infrastructure recorded since the start of the Iran war.Kharg Island remains operational despite recent strikes…

Europe should keep an open mind on helping to ensure freedom of navigation for ship traffic in the Strait of Hormuz even if the continent did not support the U.S.-Israeli decision to go to war with Iran, Denmark's foreign minister said on Monday.President Donald Trump said on Sunday his administration was talking to several countries about protecting ships in the waterway that Tehran has mostly blocked to oil tanker traffic."We must face the world as it is, not as we want it to be…

When Saudi Aramco told its oil buyers in a letter this week that it had no clear idea which port it would use for April exports, it laid bare a new reality: Iran, not the United States, holds the key to reopening the global energy market.The letter, sent to Saudi oil buyers around the world, said they might receive oil from the Red Sea, but they might still get it from the Gulf."I might as well call Iran to find out when this war ends so I can get my oil," one regular Saudi oil…

President Donald Trump said on Sunday his administration is talking to seven countries about helping to secure the Strait of Hormuz amid the U.S.-Israeli war on Iran, calling on them to help protect ships in the vital waterway that Tehran has mostly blocked to oil tanker traffic.With the conflict creating turmoil across the Middle East and shaking up global energy markets in its third week, Trump insisted that nations relying heavily on oil from the Gulf have a responsibility to protect the strait."I'm demanding that these countries come in and protect their own territory…

European Union foreign ministers will discuss on Monday bolstering a small naval mission in the Middle East but are not expected to decide on extending its role to the choked-off Strait of Hormuz, diplomats and officials say.The EU’s Aspides mission was established in 2024 to protect ships from attacks by Yemen’s Houthi rebel group in the Red Sea. It currently has an Italian and a Greek ship under its direct command and can also call upon a French ship and another Italian vessel…

In separate ad hoc meetings of the Gas Coordination Group and the Oil Coordination Group held on March 12, the Commission and EU countries assessed the situation concerning the EU’s gas and oil security of supply in view of the continued disruptions in the Middle East. During the exchange, EU countries confirmed that they do not observe any security of supply risks at the moment. Oil stocks remain at a high level, gas storage filling levels in the EU remain stable.EU countries…

InterManager has expressed serious concern about the worsening security situation affecting commercial shipping in the Middle East Gulf and the Strait of Hormuz.In light of the recent attacks on merchant vessels in the region, InterManager is urging ship managers, owners and operators to exercise extreme caution and carefully evaluate whether transit through the Strait of Hormuz is necessary at this time. The safety and wellbeing of seafarers must remain the overriding priority.InterManager…

U.S. officials responding to economic uncertainty over high oil prices predicted on Sunday that the U.S.-Israeli war on Iran would end within weeks and that a drop in energy costs would follow, despite Iran's assertion that it remains "stable and strong" and ready to defend itself.U.S. President Donald Trump threatened more strikes on Iran's main oil export hub Kharg Island over the weekend and said he was not ready to reach a deal to end the war which has shut off the vital Strait of Hormuz and shaken up global energy markets.Trump has said Iran wants to negotiate…

The United States issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war.The announcement comes a day after the U.S. Energy Department said that the U.S. would be releasing 172 million barrels of oil from the strategic petroleum reserve in an effort to curb sky-rocketing oil prices in the wake of the war in Iran.That…

The IMO has called an Extraordinary Council meeting to discuss situation in Middle East. The meeting will focus on the impact on shipping and seafarers in the Arabian Sea, the Sea of Oman and the Gulf region, particularly in and around the Strait of Hormuz.The session will be held on March 18 to 19 at the IMO headquarters in London, United Kingdom, to be chaired by Victor Jiménez of Spain.The Extraordinary Session (C/ES.36) is convened following requests from several Council Members.IMO…

The busiest U.S. container seaport in Los Angeles is mostly insulated from supply chain upheaval sparked by U.S.-Israel attacks on Iran that have spiraled into a regional conflict, its executive director Gene Seroka said on Thursday.The Iran war has snarled container shipping in the Middle East, sending up costs, stranding ships and cargoes, threatening fuel shortages and endangering vessels and the lives of seafarers."We, right now, don't see any of that congestion happening" on the lucrative transpacific ocean trade that is the lifeblood of the Port of Los Angeles…