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Bessent Says US Is 'Suffocating' Iran With Oil Industry Creaking
Treasury Secretary Scott Bessent said the US is “suffocating” Iran with economic and financial pressure, suggesting that the rulers in Tehran will eventually buckle. “We are running a marathon over the past 12 months and now we…
Analysis: Why Iran's Oil Industry Is Increasingly Threatened By US Blockade
Even as Iran squeezes world energy supplies with its chokehold on the Strait of Hormuz, its own oil industry is increasingly being threatened by an American blockade. With no way to export the oil it is pumping out and diminishing room to store it…
US Futures Gain, Oil Falls on Signs of Iran Talks: Markets Wrap
US stock futures rose and oil fell as improving risk sentiment was buoyed by prospects of shipping resuming through the Strait of Hormuz and progress toward a US-Iran deal. S&P 500 Index futures gained 0.2% after the underlying gauge closed at a…
Tanker carrying Russian oil to arrive in Japan amid Hormuz closure
The first tanker carrying Russian crude oil since the closure of the Strait of Hormuz in the Middle East is seen arriving in Japan as early as Monday, according to Japanese industry ministry and other sources. The tanker will deliver crude oil…
Trump may not be a fan of clean energy but Iran war is accelerating global shift from oil and gas | Heather Stewart
Operation Epic Fury has thus far achieved none of Donald Trump's war aims, but it may well accelerate the global transition towards the clean energy he loves to hate. Last week brought the latest exchange of verbal blows in the standoff over the…
Can higher oil prices negate damage to Qatari gas plant for Shell?
News from The City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Shell is set to reveal how the Middle East conflict has…
Cuba gets trickle of intrepid tourists as Trump's oil blockade continues
Leslie Simon and Marc Bender had arrived in Havana for a 10-day holiday, despite their president's repeated threats of military action against Cuba. The two retired union lawyers from Los Angeles flew in via Miami sporting badges reading…
As Iran war sends oil prices soaring, some see fresh potential for solar in Japan
On the surface, a natural fallout of the energy crisis triggered by the Iran war could see resource-poor Japan pivot to renewable energy in order to reduce its heavy dependence on oil from the Middle East. But two months since the start of the war…
U.S. hits crude oil export record as war keeps Strait of Hormuz closed
President Donald Trump signs a series of executive orders in the Oval Office of the White House on Thursday. Trump signed an order to expand workers' access to retirement accounts. Trump also signed legislation ending a 75-day partial shutdown of…
Trump Weighs Iran Proposal, Bessent on Iran Oil Pressure, More
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Chevron CEO warns Trump's oil crisis could get even worse
Chevron's CEO has warned that he isn't sure how high gas prices could get as Donald Trump continues to try to bring an end to the two-month-long Iran war. Mike Wirth was interviewed on CBS's Face the Nation on Sunday and said that the war had…
OPEC+ countries agree to modest rise in oil production as Iran retains chokehold on key Strait of Hormuz
Cargo ships are seen at sea near the Strait of Hormuz, as viewed from a rocky shoreline near Khor Fakkan, United Arab Emirates, on Friday. VIENNA — Seven countries in the OPEC+ grouping of oil-producing countries — including Saudi…
Government announces program to unlock land for oil infrastructure
The Queensland government will unlock state-owned land near ports in Brisbane, Townsville, Mackay, Gladstone, Abbot Point, and Bundaberg for market tenders for oil storage facilities and potential refineries. Premier David Crisafulli says the plan…
Trump's Iran crackdown 'suffocating' regime as oil wells could shut within days, Bessent says
Treasury Secretary Scott Bessent said Sunday the U.S. is 'suffocating' Iran's regime using escalating financial pressure, frozen assets and a naval blockade, while predicting that oil prices could fall as more non-Iranian supply reaches the market.
The clock is ticking as oil markets barrel toward nightmare scenarios with the West bracing for 'tank bottoms' and Iran racing to delay 'tank tops'
The West and Iran are staring down two diametrically opposed oil market emergencies that could materialize in a matter of weeks. With the Strait of Hormuz still largely closed more than two months after the U.S. and Israel launched their war…
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