The United States has declared the Strait of Hormuz open for navigation, with President Donald Trump saying American forces have cleared the strategic waterway of sea mines and are facilitating the movement of commercial vessels. Trump said on Thursday that the strait was open and that millions of barrels of oil were continuing to move […]
Baghdad Pushes for Higher Oil Output Amid Growing Frustration Iraq is considering all available options, including a potential withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), if the group fails to increase the country’s oil production quota, according to Iraqi officials familiar with the matter. The warning marks one of the strongest signals […]
Oil Market Braces for Turmoil Iranian state-owned outlet Press TV has released a new report quoting Major General Kowsari, a senior member of the Iranian Parliament’s National Security Commission, who stated that the Parliament has reached the conclusion that the Strait of Hormuz should be closed, but the final decision in this regard lies with […]