Oil prices extended their rally on Tuesday amid rising tensions in the Middle East, as markets remained cautious ahead of Donald Trump’s deadline for Tehran to reopen the Strait of Hormuz. Brent crude futures increased by 57 cents, or 0.5%, to $110.34 a barrel at 1202 GMT, while US West Texas Intermediate crude futures rose…
The CMA CGM Kribi, sailing under a Malta flag and operated by French shipping company CMA CGM, became possibly the first vessel with links to France to pass through the Strait of Hormuz since Iran effectively closed the vital shipping lane, according to the MarineTraffic website. The ship departed waters off Dubai Thursday and arrived…
Amidst the ongoing maritime blockade of the Strait of Hormuz to hostile vessels, a senior Iranian legislator has suggested that Tehran could further escalate pressure on its adversaries by targeting the Bab el-Mandeb Strait, another of the world’s most critical maritime chokepoints. The Speaker of the Iranian Parliament, Mohammad Bagher Ghalibaf, hinted at…