Ziyad al-Hashemi explained that "a halt in these shipments could trigger turmoil in the oil market and drive up prices, particularly on the spot market"
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US Central Command stated on Sunday that it assisted Gulf nations in exporting 1.5 billion barrels of oil through the Strait of Hormuz since summer. The command reported that this activity bypassed an Iranian blockade.
Russian President Vladimir Putin stated that Russian liquefied natural gas accounts for 20% of the European market. He further asserted that Russia has never refused to supply energy resources to Europe.
An oil slick from a tanker in the Hormuz Strait has been filmed washing up on the UAE shoreline. Authorities in Umm Al Quwain have closed beaches in response to the incident.
A Qatari minister of state for trade stated that peace and security are essential for prosperity in trade and investment.