CNBC U.S. officials say they are still trying to determine exactly what’s happening, but numerous reports say there’s potentially one hijacked ship in the Gulf of Oman and the status of several others is unclear. The situation occurred as tensions between the West and Iran have been rising, and as the U.S. and other world powers have been trying to
From The Houston Chronicle An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next destination reported to be Greece. The Iran-flagged Adrian Darya 1, previously named Grace 1, set course for Kalamata, Greece, with
From CNBC An Iranian oil tanker held in Gibraltar since early July has been officially released by local authorities, although it may not sail if a U.S. application to seize the vessel proves successful. On July 4, Gibraltar authorities with the help of the British Royal Marines, seized the Grace 1 oil tanker following suspicions it was delivering oil to
From The Houston Chronicle Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about the safety of shipping routes in the Middle East. “Official and unofficial documents have been exchanged to resolve the matter
From Reuters Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war. International benchmark Brent crude settled at $58.57 a barrel, up 4 cents. West Texas Intermediate (WTI) futures settled at $54.93, up 43 cents. Investors were
From Reuters Oil jumped more than 2% on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions. Brent crude LCOc1 ended the session up $1.15, or 2.1%, at $57.38 a barrel, after hitting a session high of
From Reuters Oil prices tumbled more than 4.5% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing. Brent crude futures LCOc1 settled down $2.71, or 4.6%, at $56.23 a barrel, the lowest close since early January. Prices
From Reuters Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand. During the session, Brent traded at a low of $58.81 a barrel, down more than 22% from its peak in April. That decline puts the
From Reuters Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers. Brent crude LCOc1 fell $2.08, or 3.36%, to settle at $59.81 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1
From Reuters Britain on Monday joined the United States in a maritime security mission in the Gulf to protect merchant vessels travelling through the Strait of Hormuz after Iran seized a British-flagged vessel. British officials stressed that there was no change to London’s policy on Iran but joining the United States is the most significant non-Brexit foreign policy move to
From Reuters Oil prices inched up on Friday, ending the week higher after stronger-than-expected U.S. economic data brightened the crude demand outlook and concerns over the safety of oil transport around the Strait of Hormuz threatened supply. Brent crude futures LCOc1 settled at $63.46 a barrel, up 7 cents. They clocked a weekly rise of about 1.7%. U.S. West Texas
From Reuters Somewhere on its journey from the waters off Iran, around Africa’s southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later claimed it as its own. The ship carrying 2 million barrels of Iranian crude was seized by British Royal Marines
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
