Citi said on Thursday that near-term risks to oil prices remain skewed to the upside despite a recovery in Gulf crude exports, as shipping bottlenecks continue to keep delivered supplies tight.'The normalization of Arab Gulf oil exports has been volumetric rather than logistical, with unprecedented shipping inefficiencies keeping delivered crude costs elevated,' Citi saidMore than 1 million barrels per day of Gulf crude exports were moved via ship-to-ship transfers in September…
Windward intelligence report highlights tanker and tug attacks, threats to subsea cables, an emerging oil spill and a sanctioned Russian tanker testing U.S. naval restrictions.Maritime security risks across the Strait of Hormuz, Arabian Gulf…
Most Gulf equity markets closed lower on Thursday as little progress in US-Iran diplomacy and persistent risks to Strait of Hormuz shipping unsettled investors.Concerns mounted after Mohsen Rezaei, secretary of Iran's Supreme National Security Council…
The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralysed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows.The U…
London's marine insurance market has widened the area in the Gulf it deems as high risk as the conflict in the Middle East escalates, according to an advisory issued on Tuesday.Guidance from the Joint War Committee, which comprises syndicate…
Iran and Israel accused each other of endangering commercial activity in sea lanes around the Gulf and the Red Sea at the UN's shipping agency on Wednesday, as their military conflict escalated.Iran's delegation told a session of the International…
Japan's second-largest shipping company, Mitsui O.S.K. Lines (MOL), is operating as usual in the Gulf while closely monitoring the situation in the region, CEO Takeshi Hashimoto said on Tuesday.'We are operating so many containers, car carriers and chemical tankers so that it is very…
