IRGC Navy Turns Back Containership Seeking Hormuz Passage As Iran Starts Charging $2 Million Toll

Saudis Bypass Hormuz As Oil Exports From Yanbu Surge Toward 5 Million Target One week ago, when fears that the Strait of Hormuz blockade would mean a permanent collapse in oil supply (we have since seen that Iran is allowing "friendly" ships to cross the strait, especially if they grease the toll-keeper with $2 million per crossing) hit a fever pitch and pushed the price of Brent to $120, we said that "Saudi Arabia Has Already Revived More Than Half Its Oil Exports Via Hormuz Bypass."   With Iran blocking Saudi ships from...

US Central Command on Monday published a video that it said showed “multiple one-way attack surface drones” bombing the Iranian port of Bandar Abbas, marking the first known time that the US has used kamikaze drone boats in combat. “Yesterday, using multiple one-way attack surface drones, CENTCOM forces successfully struck a submarine and ship maintenance […]

Oil Rebounds After Iranian Denial: Will Never Give Up Nuclear Program; US Official Rejects Reports Of Lifting Sanctions For Talks Summary US denies earlier Tasnim report of agreeing to lift oil sanctions during talks. Trump calls for Iran's total military surrender in Monday morning Truth Social post. Oil rebounds on Tasnim reporting Iranian denial: Tehran "under no circumstances" will negotiate nuclear issue as part of an end to the war. A flurry of (the somewhat typically-timed) Monday opener headlines have pushed oil prices lower, erasing weekend gains, including Al Arabia reporting that Iran is...