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Hormuz Paralyzed: Another Tanker Hit, Floating Parking Lot Of Ships Swells Update (1555ET): The latest Automatic Identification System (AIS) vessel-tracking data, via Bloomberg, shows that tanker traffic in the Strait of Hormuz has been paralyzed, with only a few tankers still transiting the critical maritime energy chokepoint. U.S. Central Command said in a statement on X that IRGC naval power has been severely degraded after U.S. forces and their allies eliminated eleven warships. Two days ago, the Iranian regime had 11 ships in the Gulf of Oman, today they have ZERO. The Iranian...

The Washington Post reported on Thursday that the Pentagon was considering diverting military aid meant for Ukraine to the Middle East for use in the US-Israeli war against Iran, as the US military continues depleting its stockpiles of air defenses and other munitions in the conflict. Since last summer, the US has been sending military […]

Asia Begins Pricing US Oil Against Brent As Dubai Volatility Spikes Submitted by Michael Kern of OilPrice.com Asian refiners have started pricing their orders for U.S. crude oil against the ICE Brent benchmark instead of the typical pricing on Dubai crude, as the Middle Eastern benchmark has seen wild fluctuations amid choked physical supply from the Persian Gulf. Dubai crude prices soared last week to an all-time high of $169.75 per barrel, and were around  $130 a barrel early on Friday. These highly volatile prices and the uncertainty about supply from the Middle...