Asia looks to store oil, gas closer to home after Strait of Hormuz crisis

Asian economies are racing to build up storage capacity to reduce their exposure to conflict in the Middle East.

Iran claims new naval mines laid in Strait of Hormuz  Dawn

"Like America itself, it would be ‘hotter’ than ever before," Trump said, as he floated the idea.

A pair of supertankers carrying Saudi oil were struck back-to-back by projectiles while attempting to cross the Strait of Hormuz overnight, maritime analysts said.

U.S. Central Command did not say precisely what it was trying to destroy in Iran, but it said the attacks were aimed at Iran’s Islamic Revolutionary Guards Corps.

Iran war latest: Two supertankers struck in Strait of Hormuz  thenationalnews.com

"The near-simultaneous incidents represent a further escalation in the threat environment within the Omani corridor," shipping intelligence and tracking firm Marisks reported.

On Tuesday, oil prices saw a significant uptick, driven by escalating tensions between the US and Iran and looming risks to supply chains. Brent crude hit $91.04, while WTI crude climbed to $86.55 per barrel. The Strait of Hormuz is a focal point of concern for global oil supply stability. Additionally, there are effor

US President Donald Trump praised China on Monday for remaining on the sidelines during the prolonged closure of the Strait of Hormuz, just weeks before Chinese President Xi Jinping is expected to visit Washington. “Even with the Strait of Hormuz, he’s relatively inactive. He’s been relatively inactive by comparison to

Iran responded to an assault on its Larak Island by targeting US bases in Jordan First US military attacks on Iran in a month prompt retaliation Coinciding with this week’s G20 meeting, the EU has issued a statement saying it will work with the US and other allied countries to maintain economic pressure against Iran.

For the first time in a month, the US has launched strikes against Iran. The attack targeted the shipping island of Larak in the Strait of Hormuz. The US says it was aimed at preventing Tehran from placing sea mines in the strategic shipping lane, just days after Washington announced it had completed clearing explosive

In Shishir Gupta’s assessment, the failure to produce a regime-changing outcome means that Iran has neither capitulated nor abandoned its core strategic stance.

U.S. Strikes Iran to Block New Sea Mines in Strait of Hormuz  WSJ