News near Strait Of Hormuz
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Strait of Hormuz transits fall to single digits over weekend
Commodity vessel transits through the Strait of Hormuz dropped to single digits per day at the weekend, well below the 10-day average of 14, according to preliminary ship-tracking data. A vessel was struck by an unknown projectile on Sunday, and Saudi Arabia's East-West oil pipeline was temporarily shut by a drone attack from Iraq. Before the Iran war began on Feb 28, the strait handled about 125 commercial vessels daily, carrying some 20% of global crude oil and LNG supply.
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Oil jumps over US$3 after fresh strikes on Saudi Arabia and Strait of Hormuz
Brent crude rose US$3.62 to US$108.23 a barrel after new strikes on Saudi Arabia and a projectile hit a vessel in the Strait of Hormuz on Sunday. Houthi attacks damaged homes and a mosque in Jazan province, and an Iranian commercial vessel was struck off Iran's coast. A Gulf-Iran meeting in Oman on the Strait of Hormuz was postponed.
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Strait of Hormuz ship hit by projectile as Saudi pipeline shuts after drone attack
A projectile struck a vessel in the Strait of Hormuz on Sunday, with the crew evacuated after a fire, according to UKMTO. The report followed Saudi Arabia's temporary closure of its East-West pipeline after a drone attack, pushing Brent crude back above US$100 a barrel.
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Brent crude tops US$100 after Iran widens Hormuz no-go zone
Brent crude traded above US$100 a barrel after Iran's Revolutionary Guards attacked tankers and US vessels in the Strait of Hormuz and expanded a prohibited zone into the Gulf of Oman and Arabian Sea. Tehran has restricted traffic through the waterway since its war with the United States began in February, and President Trump said prices will fall once the US wins the war.