Tanker Carrying Fuel Bound For Cuba Diverts, While Another Russian Tanker Is Set To Challenge US Blockade

Iraq Tells Buyers To Collect Crude Which Can Now Cross Hormuz, While US Boosts Ship Reinsurance Guarantees To $40BN Over the long weekend, we reported that with traffic across the Hormuz strait continuing to rise, and reaching the highest since the war began, one particularly favorable development was Iran's permission for Iraqi ships to use the Strait. We also noted that this declaration had the potential to unleash as much as 3 million barrels a day of Iraqi oil cargoes. That said, there was the caveat that it was not immediately clear...

US envoy Steve Witkoff said in an interview with Fox News that aired on Sunday that President Trump was “curious” that Iran hasn’t “capitulated” to US demands due to the major US military buildup in the Middle East and threats of war. “I don’t want to use the word frustrated because [Trump] understands he has […]

Fill 'er Up: Record Armada Of Tankers Bound For US Gulf To Load Oil An unusually large number of crude oil tankers on the open seas has the American Gulf coast as a destination as the ships are redirected to load cargoes bound for markets around the world already experiencing shortages. As Alton Wallace writes at The Center Square, second-term Republican President Donald Trump said Saturday on social media that “massive numbers” of “completely empty” oil tankers are en route to the United States to purchase American energy. “Foreign buyers are voting with their ships: American energy means stability, strength,...