The economic gains that Tehran will bring in from controlling the Strait of Hormuz are expected to be double its oil export revenues, Iranian Army Spokesman Mohammad Akraminia said.
According to OPEC, Russian oil accounted for the majority of India and China's oil imports in March of this year.
Iran may have to begin mothballing its oil wells next week as its storage facilities are rapidly filling up, U.S. Treasury Secretary Scott Bessent said.
Japanese authorities did not pay Tehran for the passage of the tanker Idemitsu Maru through the Strait of Hormuz, the Japanese business …
Iran’s oil pipelines may explode in about three days if the U.S. blockade continues, U.S. President Donald Trump told Fox News.
The restricted shipping in the Strait of Hormuz and the U.S. naval blockade of Iran affect Russia, Russia's Deputy Foreign Minister Alexander Pankin said.
Oil prices extended their gains on Thursday, rising more than $1 in the wake of stalled peace talks between Iran and the U.S. and as both nations maintained restrictions on the flow of trade through the Strait of Hormuz. …
Washington has prolonged the partial easing of sanctions on Russian and Iranian oil as problems in the Strait of Hormuz remain unresolved.
Iran is capable of sharply reducing its daily oil production in the region by more than half for a year
Acording to the US Treasury Secretary, Russiain and Iranian oil will remain subject to sanctions, without any exceptions.
The Iranian Ministry of Oil reported on the restoration of damaged oil refining facilities. According to the ministry, they will be able to return to 70-80% of capacity in the near future.
Oil prices have fallen sharply and stock markets have soared on news of a two-week ceasefire between the United States and Iran.
The US media reports indicate that the number of ships transiting the Strait of Hormuz has reached its highest level since the start of the war in Iran.
U.S. President Donald Trump said he would like Washington to take control of Iran’s oil sector.
The U.S. administration waived sanctions on the purchase of Iranian oil at sea for 30 days in its latest attempt to ease oil prices that have been driven up by the U.S.-Israeli war on Iran.
The US administration is prepared to remove sanctions on Iranian oil transported by sea, with this action potentially occurring as soon as this month.
A direct communications channel between U.S. envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi has been reactivated in recent days, Axios reported citing sources.
U.S. armed forces delivered a powerful attack on military installations on the Iranian Kharg Island, U.S. President Donald Trump said.
Brent briefly jumped back above $100 a barrel after the Iran war led to more shipping turmoil in the Middle East and China tightened fuel export curbs.
Iran has continued to send large amounts of crude oil via the Strait of Hormuz to China even as the war between U.S.-Israel and Iran has jeopardized broader supplies through the critical waterway.
