Shipping, oil markets and world events that can affect fuel prices. AI-assisted analysis with links to the original reporting.
Archive page 4
Other development
61 / THE BRIEFING
Bessent calls Hormuz a "worthless piece of water" as White House pushes bypass case
Treasury Secretary Scott Bessent says the strait will be a "worthless piece of water" within two years as new land pipelines bypass it, and Trump highlighted a Syrian port plan as an alternate Gulf export route. Energy Secretary Chris Wright put Monday's escorted flow at 17 million barrels, while independent trackers still show traffic far below prewar and Brent above $95.
IMO tells ships to avoid Hormuz after tanker strike; Iran claims mine hit as talks resume
The IMO's secretary-general has condemned attacks on commercial ships in the Strait of Hormuz and urged operators to keep crews out of the waterway, after UKMTO confirmed a tanker was struck east of the Musandam Peninsula. Iranian state media separately claimed a tanker hit a mine outside Tehran's designated lane, while Washington paused strikes and Muscat hosted Iran-Oman talks on safe passage.
Vance rules out talks while ships are hit; new data undercuts Hormuz "recovery" as Iran claims more mines
Vice President JD Vance says Washington will not negotiate with Tehran while it keeps firing on commercial shipping, and that the US escorted about 15 million barrels through Hormuz on Wednesday. Independent trackers still show traffic far below prewar: Lloyd's List counted 102 transits last week, TankerTrackers about 5 million barrels a day over 28 days. Iran says it has laid more mines in the strait.
US strike reported on Iranian tanker off Kharg; two dead in Saudi tanker attack as Hormuz traffic hits four ships a day
Iran's Tasnim agency says US forces hit an Iranian oil tanker with four missiles near Kharg Island, while a separate report says two Saudi crude tankers were attacked in the strait with two crew killed. Kpler counted only four vessels through Hormuz on Thursday. Qatar has taken its case to the UN, and US intelligence says Tehran sees the strait as leverage.
Fuel Signal