Reuters: U.S. President Donald Trump threatened further strikes on Iran’s Kharg Island oil export hub and urged allies to send warships to secure the Strait of Hormuz, as Tehran vowed to step up its response and the war showed no sign on Sunday of coming to an end…
Financial Times: Modelling by investment bank Jefferies estimates American producers will generate an extra $5bn cash flow this month alone following a roughly 47 per cent rise in oil prices since the conflict began on February 28.
If US oil prices remain elevated and average $100 a barrel this year, the companies will receive a $63.4bn boost from oil production, according to energy research company Rystad…
Politico: While much of the world is focused on how Iran’s essential closure of the Strait of Hormuz is damaging global energy markets, other key industries risk getting hit by similar price inflation. That’s because Hormuz is also a major shipping route for helium and fertilizer, which both affect a wide sector of the economy and are now experiencing price spikes as ships bottleneck on both sides of the strait…
CNBC: Defense Secretary Pete Hegseth on Friday brushed aside concerns that the effective closure of the Strait of Hormuz because of the Iran war, which has spiked oil prices, would continue being a problem for the U.S. and the world for much longer.
Iran has been “exercising sheer desperation in the Straits of Hormuz,” Hegseth said at a Pentagon press briefing.
“We have been dealing with it, and don’t need to worry about it,” he said…
Wall Street Journal: President Trump has vowed to reopen the Strait of Hormuz, the vital artery for the world’s energy supply that has been closed off by Iran. It won’t be easy.
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Securing the strait on Iran’s long flank would mean big commitments of warships or a sizable ground operation…
Washington Post: President Donald Trump on Friday night announced that the United States had bombed Kharg Island, targeting Iran’s most critical oil terminal in an attack that Tehran has warned would mark an escalation of the conflict…
Bloomberg: The United Arab Emirates suspended loading operations at the key oil-trading hub of Fujairah after a drone strike and fire on Saturday, demonstrating the vulnerability of the country’s only export route while the Strait of Hormuz is blocked…
New York Times: The U.S. Embassy in Baghdad urged all American citizens to leave Iraq immediately on Saturday after the embassy was attacked overnight for the second time since the war with Iran started…
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