Iran and the U.S. harden their positions as Tehran keeps its grip on the Strait of Hormuz
BNN Bloomberg
Iran and the United States hardened their positions as a diplomatic push for a ceasefire in the Middle East war appeared to falter on Thursday.
Sirens over Israel warned of barrages of incoming Iranian missiles and in the United Arab Emirates, two people were reported killed and three were wounded by falling shrapnel from a missile interception over Abu Dhabi on Thursday.
The secretary-general of a bloc of Gulf Arab countries said that Iran is charging fees for ships to safely transit the Strait of Hormuz. Industry experts say Iran some ships are paying in Chinese yuan to pass through the Strait of Hormuz, where 20% of all traded oil and natural gas is transported in peacetime.
Meanwhile, a strike group anchored by the amphibious assault ship USS Tripoli drew closer to the Mideast with some 2,500 Marines. Also, at least 1,000 paratroopers from the 82nd Airborne have been ordered to the region.
The troop movements don’t guarantee U.S. President Donald Trump will use force to try and compel Iran to open the strait and halt its attacks on Gulf Arab states.
Trump previously deployed a large force in the Caribbean before the American military captured former Venezuelan leader Nicolás Maduro in January. In the current situation, the U.S. is seen as focused on possibly seizing Iran’s oil terminal at Kharg Island or other sites near the strait.
Mining analyst sees copper, gold and lithium stocks benefiting from supply constraints, electrification and long-term demand trends.
An oil refinery fire near the Texas coast was put out Tuesday and a shelter-in-place order was lifted following air-quality testing, hours after a large explosion at the complex shot plumes of smoke into the air, officials said.
A U.N. Security Council resolution calling for countries to use “all necessary means” to keep the Strait of Hormuz open is facing some opposition for raising the possibility of U.N.-backed military action against Iran, according to three council diplomats.
The Trump administration is working with Canada on permits required for a proposed revival of part of the Keystone XL oil pipeline, a White House official said on Tuesday.
Google is arguing it shouldn’t have to pay about $370,000 in legal fees and other costs the Competition Commissioner is seeking after the tech giant lost a constitutional challenge.
Canadian officials spoke to Trump administration representatives about a proposed revival of part of the canceled Keystone XL oil pipeline in a meeting in Houston this week, Canada’s Natural Resources Minister Tim Hodgson said Tuesday.
Oil above US$100 is adding pressure on equities as geopolitical risks and uncertainty over inflation and growth cloud the outlook.
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The chief executive of National Bank of Canada says he’s not changing the bank’s strategy because of the war in the Middle East, but he is urging a faster response from Canada to rising threats abroad.
With airstrikes still battering Iran and missiles still targeting sites across the Middle East, some of the optimism that sent stocks rallying the day before drained out of Wall Street on Tuesday. Oil prices got back to rising, and U.S. stocks are returning some of their gains.
A large explosion at an oil refinery near the Texas coast shot plumes of smoke into the air and forced nearby residents to shelter in place, officials said.
Oil prices rise and stocks fall as war with Iran still advances despite Trump’s talk of negotiations
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.