London's marine insurance market has widened the area in the Black Sea it deems as high risk as the Ukraine-Russia conflict escalates, according to an advisory issued this week.The Black Sea is a vital route for shipments of grain, crude…
The United States announced sanctions on an Iranian cryptocurrency exchange controlled by sanctioned Iranian financier Babak Zanjani on Thursday, accusing it of processing payments for ships to transit safely through the Strait of Hormuz.Treasury said BitBank had routed hundreds of…
Benchmark Brent crude price resumed its upward climb on Tuesday after news of a pause in the loading program at Yanbu, Saudi Arabia's main Red Sea loading terminal. The terminal's ability to keep exporting crude was already expected to come…
Chevron CEO Mike Wirth said on Friday that oil buffers that limited crude price increases earlier in the Iran war have been depleted, and the conflict could lift prices further over the next few months.Since the war began in late…
U.S. officials have confirmed that Saudi Aramco's East-West Pipeline – the key bypass route carrying Gulf oil around the contested Strait of Hormuz – has been damaged in a Houthi strike.
The lightning Houthi advance down Yemen's Red Sea coast this week came with direct guidance from Iran's Revolutionary Guards seeking to open a new front in Iran's war with the US, according to Yemeni Government, Iranian and regional sources.By seizing…
