U.S.-Israel Operations Spark Gulf Tensions
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Friday marks six months since the U.S. and Israel launched "major combat operations" in Iran, prompting retaliatory strikes on targets across the Gulf and sparking a new war in the Middle East.
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Washington Times BusinessThe war started in late February with joint U.S.-Israeli strikes on Iranian political and military targets. In retaliation, Iran struck at U.S. military assets in the Middle East and declared the closure of Hormuz.
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Iran has set out its conditions to reopen the Strait of Hormuz, saying that ending the wars in the Middle East was among them.
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Washington Times BusinessIran’s Islamic Revolutionary Guard Corps again said the Strait of Hormuz will remain closed until the U.S. respects the terms of the Islamabad Memorandum of Understanding.
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Earlier this week, Oman and Iran discussed a proposal to establish a temporary joint shipping route through the Strait of Hormuz as well as a mission to clear mines from the key oil export corridor.
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Washington Times BusinessOn Tuesday, following a meeting with Iran’s Foreign Minister Abbas Araghchi and his Omani counterpart, Badr al-Busaidi, in Tehran, the two countries said they agreed on a temporary maritime route for ships traveling through the strait.
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Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 ZeroHedge Qatar and Kuwait have managed to boost their crude oil exports from the Strait of Hormuz to 70% of pre-war levels as they followed the United Arab Emirates in shuttling oil through the chokepoint and using ship-to-ship transfers in the Gulf of Oman, anonymous traders told Bloomberg on Thursday.
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02 Bloomberg Qatar Extends LNG Force Majeure as Hormuz Traffic Remains Halted Qatar extended force majeure on liquefied natural gas supplies to European and Asian buyers by another month as uncertainty over the full reopening of the Strait of Hormuz clouds prospects for restoring Persian Gulf energy flows.
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03 CNBC What was initially expected to be a weeks-long conflict has evolved into a standoff that geopolitical analysts say has no end in sight. But the nature of the war has also shifted, with the White House turning its focus to ramping up financial pressure on Iran and its trading partners, a strategy President Donald Trump labeled "economic D-Day."
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04 MarketWatch Goldman argues the oil market is ‘adapting’ to the conflict On the six-month anniversary of the war in Iran, divisions are apparent on Wall Street about the trajectory for oil prices, with some arguing markets may be a little too sanguine about the potential for further spikes.
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05 Washington Times Business A spokesperson for the IRGC said in a statement Wednesday that the entirety of the strait, including Omani waters, is under Iran’s military control and would remain so until the U.S. accepts its demands.
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Sources (5)
- cnbc
- marketwatch
- bloomberg
- zerohedge
- washtimes-biz