Why oil forecasts fail when war, inventories, and China rewrite the math
Data shows 11 commodity vessels pass through the Bab el-Mandeb strait on Sunday, the lowest level in months
Iran’s foreign ministry says messages are still being passed between the sides through mediators and Iran has not forsaken diplomacy, but reports that it requested negotiations are ‘fabricated’
The Red Sea has become a new front in the Iran war, with the Houthis taking an escalatory approach against Saudi Arabia by firing missiles and drones at the kingdom and declaring a blockade on Saudi shipping
(1st UPDATE) Washington and Riyadh say they jointly struck Iran-backed armed groups in Iraq in retaliation for drone attacks on Saudi oil targets
(1st UPDATE) The oil tanker Sidr, owned by Bahri, was one of two supertankers carrying Saudi oil reported to have been hit late on August 31 while transiting the Strait of Hormuz
(1st UPDATE) Increased attacks by both the US and Iran have shattered a month of relative calm, hitting military, shipping and energy assets, sending oil prices surging and drawing in regional allies in recent days
The report comes as Iran and the US launch the biggest wave of attacks on shipping so far since the start of the six-month-old war
The drone attack on Saudi Aramco’s Jazan refinery coincides with Saudi Arabia’s new defense pact with Turkey and Pakistan amid regional instability
(1st UPDATE) Intelligence reports from Saudi Arabia, the US, and other regional countries indicate civilian and economic sites could be targeted, including energy infrastructure, ports and airports