US & Iran Set For New Talks, Trump Says, Hours After Tehran Denied Plans Due To Days Of Hormuz Attacks

Tanker Owners Having The Best Week Of The Hormuz Crisis As VLCC Rates Soar By Julianne Geiger of OilPrice.com The Strait of Hormuz may be reopening, but don't tell tanker owners the crisis is over. They're making too much money. As Middle Eastern producers scramble to move crude that has spent months stranded in the Persian Gulf, tanker rates have exploded higher, turning a slow return to normal into a windfall for shipping companies. According to Reuters, the cost of hiring a tanker in the Gulf has nearly doubled in just a week, jumping...

"Rare Sight": USAF C-17 Jets Land In Beijing Ahead Of Trump-Xi Summit As the Strait of Hormuz takes center stage Monday morning, Iran is threatening to attack any ship that attempts to transit the critical waterway. This directly challenges President Trump's plan for the U.S. Navy to "guide" tankers and container ships through the chokepoint. Looking beyond the ongoing Hormuz crisis, the China topic is next: Trump is still expected to meet with Chinese President Xi Jinping in the coming weeks. This means any U.S.-Iran escalation could leave Hormuz disrupted for...

Traders Are Shorting Oil As If The Hormuz Crisis Is Over Authored by Tsvetana Paraskova via OilPrice.com, Oil traders are increasingly betting on lower prices, with short positions in Brent crude tripling since late March despite the loss of roughly 13 million bpd of supply from the Middle East. Physical market fundamentals are tightening rapidly, as global inventories have fallen by about 250 million barrels and key storage hubs like Cushing are approaching critically low levels. Analysts warn the market may be underestimating supply risks, with even a reopening of the Strait of...