Crude Oil Skyrockets Amid Heightening Uncertainty Over Strait Of Hormuz Reopening
(RTTNews) - Extending the sharp gains from Friday's session, crude oil prices have catapulted on Monday as expectations of an early reopening of the Strait of Hormuz began to fade following several preconditions put forth by Iran to the U.S. and the counter-demands by U.S. Presid…
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Iran’s Islamic Revolutionary Guard Corps Navy reported late Saturday that two oil tankers were burning after striking naval mines in and near the Strait of Hormuz. The IRGC stated that the vessels had switched off their navigation and positioning systems and attempted to use an unauthorized route.
The group accused both ships of multiple violations, specifying that one was hit east of the strait and the other inside it.
Latvian farmers are protesting Russian grain transit, arguing that it helps fund Moscow’s war in Ukraine.
Zero Russian diesel has reached the US as tankers divert and buyers fear legal action.
Slovakia's prime minister stated that the country may sue the EU if it bans Russian oil supplies. He also criticized the European Commission for inaction regarding efforts to reduce electricity prices within the union.