Washington, July 13 (IANS) Oil prices rose more than 3 per cent as the United States and Iran exchanged fresh strikes, renewing fears of disruption in the Strait of Hormuz, a critical route for global energy supplies.US crude futures climbed 3.4 per cent to $73.87 a barrel by 6.03 p.m. ET, CNBC reported. Brent crude, the international benchmark, gained 3.5 per cent to $78.67.The New York Times put Brent slightly higher at nearly $79 a barrel. That was about 9 per cent above its pre-war price.The…
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Washington, April 3 (IANS) With tensions still simmering in the Gulf, U.S. President Donald Trump on Friday suggested the Strait of Hormuz could be reopened for oil gains, describing it as a chance to “MAKE A FORTUNE,” as maritime traffic shows early signs of revival. “With a little more time, we can easily OPEN THE HORMUZ STRAIT, TAKE THE OIL, & MAKE A FORTUNE. IT WOULD BE A ‘GUSHER’ FOR THE WORLD???,” Trump said in a social media post.His remarks come as new data indicate…
New Delhi/London, March 5 (IANS) The maritime threat landscape across the Gulf of Oman, Persian Gulf, and Strait of Hormuz has turned highly volatile in the past 24-48 hours, driven by escalating military confrontations involving Iran, the US, and Israel. Multiple projectile, missile, and explosive incidents have targeted commercial shipping, prompting a near-total halt in transits through the critical chokepoint. Since late February, when US and Israeli strikes on Iranian targets triggered reta…