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The Latest Breaking News from Persian Gulf

India-bound oil supertanker booked in Gulf at 897% of benchmark freight rate

A supertanker has been provisionally booked to ship oil from the Persian Gulf to India at a staggering rate, nearly nine times the benchmark freight cost. This eye-watering price highlights a severe shortage of available vessels in the region. The high demand, driven by increased exports and the need to…

The Economic Times

Eleven India-bound vessels have crossed Strait of Hormuz since signing of Iran-US MoU: MEA

Eleven India-bound vessels have successfully navigated the Strait of Hormuz since the US-Iran agreement on June 17, according to MEA spokesperson Randhir Jaiswal. Ten Indian-flagged ships remain in the Persian Gulf, with two more entering the region. This crucial waterway, vital for global oil transit, has recently faced disruptions, raising…

The Economic Times

At the gates of Hormuz, 80 million barrels of oil are on standby

Large volumes of crude oil are waiting in the Persian Gulf and are ready to move through the Strait of Hormuz if shipping activity resumes following an interim US-Iran agreement aimed at restoring transit in the waterway.

The Economic Times

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Iran War Upends the Global Oil Industry: Kiplinger Special Report

Even after the war ends, oil producers and importers will be racing to lessen their reliance on oil shipments through the Persian Gulf.

Kiplinger

I'm in the USA for the first AI World Cup but Americans don't seem to have noticed

Travellers to Qatar in 2022 were left in no doubt that the Persian Gulf outpost was hosting the World Cup finals.

The National (Scotland)

FED:Australian shares pare losses as mining stocks bounce

The ASX has edged lower for a second session as concerns about Australia's economic growth and the ongoing Persian Gulf conflict unnerve investors.

AAP

FED:Australian shares pare early losses as miners rebound

The ASX has edged lower for a second session as concerns about Australia's economic growth and the ongoing Persian Gulf conflict unnerve investors.

AAP

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US Warns Of Sanctions Risk If Deals On Strait Of Hormuz Passage Are Struck

The Strait of Hormuz is a key waterway that connects the Persian Gulf to the rest of the world though which a fifth of the world's energy transit was routed. After the US-Israeli strikes began on February 28, the passage of vessels through the Strait has been hit, severely disrupting…

International Business Times

Shares drop and oil surges as US, Iran trade strikes

Miners, banks and IT stocks have dragged on the local bourse as renewed hostilities in the Persian Gulf rattle an already fragile US-Iran ceasefire.

AAP

LNG tanker exits Hormuz for India for first time since war began

The exit of an LNG tanker from the Strait of Hormuz marks a pivotal moment for India, signaling its first shipment from the Persian Gulf in light of the ongoing Iran conflict.

The Economic Times

Video, satellite photos show Iran war oil spill on Persian Gulf island

A recent attack on an Iranian oil refinery has led to a devastating oil spill impacting Shidvar Island, a vital wildlife breeding ground in the Persian Gulf. Videos reveal oil-soaked shores and distressed marine life, highlighting the war's severe ecological toll. This incident follows other environmental damage from attacks on…

The Economic Times

Video and satellite photos show Iran war oil spill on Persian Gulf island

A mysterious attack on an Iranian oil refinery during the Iran war caused an oil spill that affected a nearby Persian Gulf island that’s a protected breeding ground for wildlife

The Independent UK

US Aircraft Declared An Emergency Over Qatar: Why the KC-135 Stratotanker Sent Distress Signal Mid-Air

A US Air Force KC-135 Stratotanker issued a '7700' distress signal over the Persian Gulf, raising concerns about potential in-flight emergencies

International Business Times UK

‘No place in Gulf, except at bottom of its waters’: Iran’s Khamenei slams ‘Great Satan’ US, rejects nuclear curbs

Iran's Supreme Leader Ayatollah Mojtaba Khamenei declared Iran's nuclear and missile capabilities non-negotiable, calling the US the "Great Satan" and asserting that foreigners have no place in the Persian Gulf. He emphasized that Iran's technological and military assets are national treasures to be protected by its population.

The Times of India

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Axios

How a swap line for Persian Gulf allies would break with the past

"Many of our Gulf allies have requested swap lines" and seemed receptive to their use, said Treasury Secretary Scott Bessent.

The Times of India

CCTV captures chaos at Iran hospitals amid strikes; patients and staff seen scrambling

Surveillance footage reveals chaotic scenes in Tehran hospitals during air strikes, with medical staff urgently evacuating patients, including newborns carried in fruit baskets. The ongoing Iran conflict, sparked by Operation Epic Fury, has escalated tensions in the Persian Gulf, disrupting oil shipments and leading to naval confrontations.

The Independent UK

Trump loses it over Iran peace deal failure and orders Navy to ‘shoot and kill’ over Hormuz Strait: ‘CRAZY!’

The U.S. Navy decommissioned four Avenger-class minesweepers last fall and returned them from the Persian Gulf aboard a large cargo ship this past January

LiveScience

'Iran's Maldives' could drown in oil due to spills from air strikes, satellites show

Air strikes on oil facilities and oil tankers in the Persian Gulf have unleashed what is set to become an ecological catastrophe, satellite images show.

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The Independent UK

Oil prices rise anew amid a US-Iran standoff in the Strait of Hormuz

Oil prices are rising in early trading as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies

The Guardian - AU

Qantas raises fares and cuts domestic flights as travel patterns shift due to Middle East turmoil

Australian airline is benefiting from demand for flights that transit through Asia – but says its jet fuel bill is rising sharply

The Conversation

Why the Persian Gulf has more oil and gas than anywhere else on Earth

It has been said that Persian Gulf countries are both blessed and cursed by their vast oil and gas reserves. Geologic forces over millions of years have meant the region is an energy-rich global flash point, as it is now with a war underway that’s causing a global energy crisis.

The Independent UK

Oil back above $110 as Asian markets react to Trump’s expletive-laden threat to Iran

Trump issues new ultimatum to Tehran to end its chokehold over major Persian Gulf waterway

The Times of India

10,000 terror components struck, 40 top officials eliminated in 40 seconds: Israel outlines scale of Iran offensive

Israel's military revealed extensive "Operation Roar of the Lion" details, reporting over 800 sorties and 10,000 strikes against Iranian-linked targets. They claim to have eliminated 40 top Iranian officials in a swift 40-second operation. Simultaneously, Iran's IRGC reported targeting US and Israeli assets in the Persian Gulf and UAE.

The Independent UK

US attacks Iranian nuclear site while Tehran hits oil tanker off the Dubai coast

A likely strike by the United States hit the central Iranian city of Isfahan, sending a massive fireball into the sky, and Tehran struck a fully loaded Kuwaiti oil tanker in the Persian Gulf

Euronews

Trump threatens to obliterate Iran's Kharg island oil hub if no deal reached 'shortly'

About 90% of Iran’s crude oil exports leave the country via the small island in the Persian Gulf's north, much of it destined for China and other Asian markets.

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