U.S. President Donald Trump said on Monday that many ships loaded with oil are starting to move out of the Strait of Hormuz. "Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz. They are going along the Southern 'Highway,' which is totally safe, secure, and pristine," he wrote in a Truth Social post. (Reporting by Susan Heavey and Katharine Jackson) [Read more]
Scouring the Strait of Hormuz for mines could take weeks
Ensuring the Strait of Hormuz is safe from mines could delay a return to normal shipping traffic by weeks following a deal to reopen the waterway, shipping and maritime security sources say. The operation by conventional minesweepers and state-of-the-art underwater drones could continue for 40 to 50 days before many insurance, shipping or oil companies are confident enough to sail through, according to assessments from five Western maritime security sources. That could potentially hold up [Read more]
One LNG tanker passes Hormuz after US-Iran agree to deal, shippers stay cautious
India's Petronet sent a liquefied natural gas tanker through the Strait of Hormuz, the only shipment on Monday since the United States and Iran reached a peace deal to reopen the strategic waterway, shiptracking data showed. The limited traffic underscores wariness among shippers who have welcomed the deal but are still waiting for more details -including mine clearance in the strait - before allowing their vessels to pass through. Global oil prices fellabout 4% on Monday as the United [Read more]
Oil slips 4% as US, Iran reach peace deal to reopen Strait of Hormuz
Oil prices slipped to their lowest since March on Monday after U.S. President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz. Brent crude futures fell $3.58, or 4.10%, to $83.75 a barrel by 0004 GMT and U.S. West Texas Intermediate was at $80.87, down $4.01, or 4.72%. Both contracts tumbled more than 3% on Friday. The U.S. and Iran will sign a memorandum of understanding in Switzerland [Read more]
Australia’s Woodside Energy says it is unaware of any proposal involving Exxon Mobil
Australia's Woodside Energy said on Monday it was not aware of any proposal involving U.S. energy major Exxon Mobil and was not engaged in discussions regarding a potential transaction, responding to recent media speculation. The statement follows media reports that Exxon is studying a potential acquisition of the LNG producer as part of efforts to deepen its presence in liquefied natural gas and Asian markets. Western Australia Premier Roger Cook said on Sunday the government would oppose [Read more]
Fragile Iran deal offers oil relief, but Hormuz risks remain: Bousso
The U.S.-Iran deal ending months of fighting and reopening the Strait of Hormuz will prompt a collective sigh of relief from energy exporters and importers alike. But the fragile calm may not prevent future flare-ups, casting doubt over how quickly - or fully - tanker traffic through the vital waterway can return to normal. Under the agreement announced late on Sunday, Iran and the U.S. agreed to lift their blockades on the Strait of Hormuz, through which roughly a fifth of global oil and LNG [Read more]
Iran confirms immediate and permanent end to war on various fronts starting tonight
Iran's Deputy Foreign Minister Kazem Gharibabadi confirmed to Iranian state TV that an immediate and permanent end to the war and military operations on various fronts, including Lebanon, will take place starting tonight. He said negotiations for a final deal will be held during a 60-day period, adding that Tehran would take its own measures in case of "breaches from the other side". (Reporting by Yomna Ehab, Elwely Elwelly, Menna Alaa El-Din and Ahmed Tolba; Editing by Edmund Klamann) [Read more]
Pakistan PM says US and Iran reach peace deal after talks
Pakistan Prime Minister Shehbaz Sharif said early on Monday that the United States and Iran have reached a peace deal. "Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon," Sharif said in a post on X. The official signing ceremony will be on June 19 in Switzerland, Sharif added. (Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Chizu Nomiyama) [Read more]
Western Australia opposes possible Exxon takeover of Woodside Energy
The West Australian government would seek to block any takeover of Woodside Energy that involved moving its headquarters, the state's Premier Roger Cook said on Sunday. Woodside, which has been headquartered in Perth since the 1990s, has led development of Australia's liquefied natural gas industry. U.S. energy major ExxonMobil is considering targets, including Woodside, although it said internal discussions were at an early stage, Bloomberg News reported on Friday, citing people familiar [Read more]
Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release
A senior Iranian official told Reuters a final draft of the memorandum of understanding with the U.S. covered a range of issues, from Tehran’s nuclear work to reopening the Strait of Hormuz and U.S. waivers on oil sanctions, with a final deal to be discussed in the 60 days following agreement by the two sides. The Iranian official said the draft memorandum included the following: STRAIT OF HORMUZ: * Iran immediately reopens the Strait of Hormuz to all commercial vessels, while the U.S. lifts [Read more]
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