Iran's Revolutionary Guards said on Sunday that any military vessels attempting to approach the Strait of Hormuz will be considered a violation of the two-week U.S. ceasefire and be dealt with harshly and decisively. The strait is under the control and 'smart management' of Iran's Navy, the Guards said in a statement reported by Iranian state media, adding it is "open for the safe passage of non-military vessels in accordance with specific regulations". (Reporting by Ahmed Tolba and Hatem [Read more]

A sailing vessel was approached by a skiff with armed men on board 54 nautical miles southwest of Yemen's Hodeidah, United Kingdom Maritime Trade Operations (UKMTO) said on Sunday. UKMTO said the skiff was turned away after the master deployed a flare. (Reporting by Menna Alaa El-Din and Muhammad Al Gebaly Editing by David Goodman ) [Read more]

President Donald Trump on Sunday said the U.S. Navy would immediately start blockading the Strait of Hormuz and would also interdict every vessel in international waters that had paid a toll to Iran. Trump made his remarks in a Truth Social post hours after U.S-.Iran peace talks ended without a deal. Trump said the meeting "went well, most points were agreed," but added the two sides had not agreed on Iran's nuclear program. "Effective immediately, the United States Navy, the Finest in the [Read more]

Iran expects to restore most damaged refining and distribution facilities to 70–80% of their pre-attack capacity within one to two months, a senior oil official said, as authorities work to recover from a wave of strikes on energy infrastructure. Deputy Minister of Oil Mohammad Sadeq Azimifar told the Student News Network that repair work had begun and that part of the Lavan refinery is expected to resume operations within about 10 days, with other units coming back online [Read more]

Saudi Arabia has restored full oil pumping capacity through the East-West pipelineto about seven million barrels per day, it said on Sunday, days after providing an assessment of damage on its energy sector from attacks during the Iran conflict. The ministry said energy facilities and the pipeline affected by attacks during the conflict have recovered and restored operational capacity. Saudi did not specify who launched the attacks, but the kingdom has intercepted many Iranian missiles and [Read more]

Iran's Islamic Revolutionary Guard Corps warned that any attempt by military vessels to transit the Strait of Hormuz would be met with "a strong response," saying only non-military vessels would be allowed to pass under specific regulations, the IRGC said in a statement carried by Iranian media. (Reporting by Enas Alashray in Cairo; Editing by Alistair Bell) [Read more]

German Finance Minister and Vice Chancellor Lars Klingbeil on Saturday said government action was the best way to bring down soaring petrol and diesel prices, deepening a rift within the coalition over how to best tackle the current energy crisis. The Iran war has severely disrupted global energy supplies, hitting Europe's largest economy with higher costs for gas and oil at a time when it is already struggling with tepid growth and tariffs. "Intervening in the market is actually the most [Read more]

The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures was unchanged on Friday. WCS for May delivery in Hardisty, Alberta, settled at $15.55 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, flat on Thursday's close. * The WCS differential has been volatile since the start of the U.S. war on Iran, with competing variables pulling and pushing on relative prices for Canadian heavy crude, said Wood Mackenzie analyst Dylan [Read more]

The U.S. Department of Energy said on Friday it had loaned 8.48 million barrels of crude oil from the Strategic Petroleum Reserve to four oil companies, the second allotment under the Trump administration's effort to curb fuel prices that have surged during the U.S.-Israeli war on Iran. The companies that have been awarded SPR loans are Gunvor USA, Phillips 66 Company, Trafigura Trading and Macquarie Commodities Trading, the DOE said. The U.S. had offered on April 1 to loan up to 10 million [Read more]

U.S. energy firms this week cut the number of oil and natural gas rigs operating for the third time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by three to 545 in the week to April 10, the lowest since late March. Baker Hughes said this week's decline puts the total rig count down 38 rigs, or about 7% below this time last year. Baker Hughes said oil rigs held at 411 [Read more]