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Tehran’s military command has issued one of its starkest warnings since the outbreak of the US-Israeli war on Iran, declaring that it will block all oil shipments through the Strait of Hormuz destined for the United States, Israel and their allies, and warning that crude prices could climb to $200 per barrel. The declaration,…
The Ruwais refinery in Abu Dhabi, described by state oil company Adnoc as the world’s fourth-largest single-site refinery, has halted operations as a precautionary measure following a drone attack on the nearby industrial complex, a source confirmed on Tuesday. The shutdown comes as Saudi Aramco’s chief executive warned that the escalating Middle East conflict could…
G7 Ministers to Weigh Emergency Oil Release as Middle East War Triggers Market Chaos Group of Seven finance ministers will convene emergency talks Monday to consider coordinated releases from strategic petroleum reserves in an effort to stabilise global energy markets convulsed by the escalating Middle East conflict, according to a French government source with direct…
United States President Donald Trump has issued a stark warning that any new supreme leader appointed by Iran will require his personal approval to remain in power, directly challenging Tehran’s sovereignty as the country’s clerical establishment prepares to announce its choice to succeed the slain Ayatollah Ali Khamenei. The statement, delivered during an interview…
A desperate exodus is underway across the Middle East as the United States-Israeli conflict with Iran grounded commercial aviation. Tens of thousands of travellers are stranded following the cancellation of over 23,000 flights since Saturday. Airspace closures have funneled the remaining traffic through a few strained hubs in Dubai, Riyadh, and Muscat. Panic is rising…
