HONG KONG, Aug 11 — Oil prices extended a strong rally today as hopes for a reopening of the Strait of Hormuz fade, fanning fresh inflation fears and ramping up bets on at least one US interest rate hike this year.
HONG KONG, Aug 11 — Oil prices extended a strong rally today as hopes for a reopening of the Strait of Hormuz fade, fanning fresh inflation fears and ramping up bets on at least one US interest rate hike this year. Crude has surged more than 10 per cent over the past week, with t…
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RIYADH/SANAA - A cruise missile launched by the terrorist Houthi militia toward the Riyadh region was intercepted and destroyed, Maj. Gen. Turki Al-Maliki, spokesperson of the Coalition to Restore Legitimacy in Yemen, said on Saturday. A UAV was also intercepted and destroyed in the Riyadh region, he added.
Iranian media and the Revolutionary Guards Navy reported explosions in several parts of southern Iran, including Qeshm Island, on Saturday evening. These outlets stated that two oil tankers caught fire in the Strait of Hormuz after reportedly hitting mines.
The incidents occurred amid a US blockade of the waterway, which intensified tensions and fears of renewed American strikes.
The US military carried out fresh strikes on Iranian air defenses on Qeshm Island following the targeting of vessels in the Strait of Hormuz. Both sides stated on Saturday that negotiations to end the war are ongoing.
U.S. Central Command reported that it fired on and disabled a St. Kitts-flagged commercial vessel in the Gulf of Oman. The military stated the ship ignored warnings and attempted to leave the region after visiting an Iranian port, which it described as an attempt to breach a blockade.