Energy

Iran Says Two Oil Tankers Ditched Attempt to Transit Hormuz

Two oil tankers that had attempted to transit the Strait of Hormuz with U.S. support via the southern lane close to Oman have turned back after one of them caught fire, Iran’s Islamic Revolutionary Guard Corps (IRGC) said on Thursday, as the war in the Middle East shows no signs of abating. “Last ni

Source: OilPrice.com

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DW NOTE

Iran claims two tankers aborted Hormuz transits — no details on flag state, cargo, or timing. The Strait moves 21 million barrels daily, roughly a fifth of seaborne oil. If this becomes a pattern rather than an anecdote, WTI at $84 will look quaint.

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

Iran Says Two Oil Tankers Ditched Attempt to Transit Hormuz

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

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