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Strait of Hormuz

News about Strait of Hormuz: events, facts and developments on tafs uz.

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World

Second tanker catches fire near Strait of Hormuz within a day; two cargo ships sank earlier

An oil tanker caught fire in the Gulf of Oman, east of the Strait of Hormuz, after entering, according to the Iranian Navy, a restricted zone declared by Tehran with its tracking systems switched off. This is the second such incident in 24 hours. The incidents followed the sinking of the container ship GFS Pride and the cargo vessel Cape Dao; the causes of the ships' loss are assessed differently by the IRGC and maritime sources.

Aziz Karimov
3 min read
Economy

IEA: diesel shortage will persist until 2027, prices in Europe may rise again

The International Energy Agency has warned that the diesel market will remain tight at least until 2027, and wholesale diesel prices in Europe may rise again in the coming weeks. The recovery of supplies from the Persian Gulf has not eliminated the shortage: production is still below global demand, Iran has blocked the Strait of Hormuz, and the Houthis are attacking Saudi facilities.

Dilnoza Rahimova
4 min read
Economy

Oil Rises After Reports of Iranian Attacks on Vessels in the Strait of Hormuz; European Gas at Four-Year High

Oil prices rose in morning trading on Wednesday following Reuters reports of Iran attacking two vessels in the Strait of Hormuz. Brent surpassed $107 per barrel, WTI reached $94.64. The Houthi-Saudi Arabia conflict added supply risks: an attack on an Aramco building caused a 'limited fire', and debris from intercepted rockets injured four people in Riyadh. European TTF gas futures hit a four-year high, European indices opened higher, and Asian trading was mixed.

Nilufar Karimova
3 min read