Tag Archive

Oil prices up

Oil prices up

October 11, 2019 No Comments

Oil prices rallied on the news that two rockets have hit and damaged Sabity, an Iranian oil tanker in Red Sea near a Saudi Arabian port city. WTI crude up 2.11 per cent to $54.68 Brent crude up 2.22 per cent to $60.41. OPEC daily basket price stood at $58.71 a barrel Thursday, 10 October […]

Iran’s 3-Part Plan To Outsmart Sanctions

Iran’s 3-Part Plan To Outsmart Sanctions

October 11, 2019 No Comments

Iran’s priority in continuing to optimise its oil industry exports despite ongoing U.S. sanctions is to push the pace of development firstly of the multiple fields that constitute the West Karoun area and secondly of the fields it shares with Iraq. A corollary third priority is to ensure that it build-outs export routes for its […]

Gibraltar releases Iranian tanker Grace 1

Gibraltar releases Iranian tanker Grace 1

August 15, 2019 No Comments

Gibraltar has reportedly released the Grace 1 tanker after receiving formal written assurances from the Iranian government that it would not discharge its cargo in Syria, the Gibraltar Chronicle reported on Thursday. “On that basis, Gibraltar’s Chief Minister Fabian Picardo has decided to lift the detention order and allow the ship to sail,” the newspaper […]

Gulf War III and oil prices

Gulf War III and oil prices

July 23, 2019 No Comments

The cynic in me cannot help but wonder at the convenient turn of events over the past few weeks. The sorry saga began with the UK detaining a tanker carrying Iranian oil at the start of July, citing concerns the oil was destined for sanctioned Syria. Iran’s Revolutionary Guard has now, as expected, retaliated with […]

Iran  flys its flag over seized UK tanker

Iran flys its flag over seized UK tanker

July 22, 2019 No Comments

The Iranian flag has been hoisted over seized British oil tanker Stena Impero, in new footage broadcast on state TV. Footage also shows Iranian armed forces patrolling the decks of the oil tanker after the Iranian Revolutionary Guard seized it in the Strait of Hormuz at 4pm on Friday. It comes after dramatic audio emerged […]

British warship ‘escorts UK-flagged tanker’ as it enters Strait of Hormuz

British warship ‘escorts UK-flagged tanker’ as it enters Strait of Hormuz

July 9, 2019 No Comments

A British warship appears to have escorted a UK-flagged tanker as it enters the Straits of Hormuz, amid threats of retaliation by Iran after Britain seized one of its ships last week dailymail.co.uk reports. . The tanker Pacific Voyager was sailing alongside a British military vessel earlier today amid high tensions in the Middle East, […]

Tags: ,
Crude Oil Price Movement to 13/06/19

Crude Oil Price Movement to 13/06/19

June 13, 2019 No Comments

The price of OPEC basket of fourteen crudes stood at $61.01 a barrel on Wednesday, 12 June 2019, compared with $62.56 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

‘Torpedo’ attack on two vessels in the Gulf of Oman

‘Torpedo’ attack on two vessels in the Gulf of Oman

June 13, 2019 No Comments

The Middle East is on high alert today after two oil tankers were hit by explosions in the Gulf of Oman. One of the ships, the MT Front Altair, caught fire after a suspected torpedo attack and Iran says it has sunk – although the ship’s Norwegian owner has denied the claim. The Altair and […]

Is President Trump Reversing Course On Iran?

Is President Trump Reversing Course On Iran?

June 4, 2019 No Comments

The Trump administration is attempting to dial down the tension with Iran, lowering the risk of military conflict and pushing for diplomatic negotiations. On Sunday, U.S. Secretary of State Mike Pompeo said that the U.S. was ready to negotiate with Iran with “no preconditions,” a shift in strategy after laying out a list of 12 […]

Sinopec, CNPC Stop Buying Iranian Oil In May

Sinopec, CNPC Stop Buying Iranian Oil In May

May 12, 2019 No Comments

China’s two largest oil companies, CNPC and Sinopec have not ordered any Iranian oil cargoes to load this month after the expiry of the sanction waivers Washington had granted China and seven other Iranian oil importers, Reuters reports, citing unnamed sources. The news comes despite statements from Beijing that it will not comply with the U.S. […]

Page 1 of 1612345»10...Last »