Iran's Supreme Leader Ayatollah Ali Khamenei, who turned the country into a powerful anti-U.S. force and extended its military influence across the Middle East while crushing repeated domestic unrest, was killed in Israeli and U.S. strikes, a senior Israeli official told Reuters on Saturday. There was no immediate Iranian confirmation of his fate. The United States and Israel carried out military strikes on Iran on Saturday, targeting its top leaders and plunging the Middle East into a [Read more]
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Market analysts react to US-Israel strikes on Iran
The United States and Israel launched strikes on Iran on Saturday, targeting its leadership and plunging the Middle East into a new conflict that President Donald Trump said would end a security threat and give Iranians a chance to topple their rulers. The strikes put nearby oil-producing Gulf Arab countries on edge as fears of escalation grew, and Tehran responded by launching missiles towards Israel. Some oil majors and top trading houses suspended crude oil and fuel shipments via the [Read more]
How US-Iran tensions could shape world markets
The United States and Israel launched strikes on Iran on Saturday, targeting its leadership and plunging the Middle East into a new conflict that President Donald Trump said would end a security threat and give Iranians a chance to topple their rulers. The strikes put nearby oil-producing Gulf Arab countries on edge as fears of escalation grew, and Tehran responded by launching missiles towards Israel. Here's how the conflict could play out across world markets. OIL SPIKE Oil is the [Read more]
Iran war throws oil market into biggest crisis in decades: Bousso
Global energy markets face one of their gravest shocks in decades as joint U.S. and Israeli strikes on Iran and Tehran’s retaliatory missile attacks across the Gulf disrupt oil exports from the world’s most important producing region. The scale of the disruption will likely be determined by the duration of the conflict, but for now the threat and the uncertainty are already enough to severely impact flows from the region that accounts for 20% of global oil supplies. Barring a swift resolution, [Read more]
DNO shuts oil output in Iraqi Kurdistan as precaution after strikes on Iran
Oslo-listed DNO shut down its oil production in the Kurdistan region of Iraq as a precautionary measure after Israel and the United States launched strikes on neighbouring Iran, the company told Reuters on Saturday. "We've been preparing for the hard stop of operations for the last several weeks. Today, as a precautionary measure, we temporarily stopped operations and moved our people to safe locations," DNO Executive Chairman Bijan Mossavar-Rahmani said in an interview. DNO and its [Read more]
Iran’s main oil and gas production and infrastructure
The United States and Israel launched an attack on Iran on Saturday. The attack could disrupt oil and gas output and cause damage to energy infrastructure in the Middle East. Following are facts on Iran's energy industry, exports, and the impact of Western sanctions: OIL PRODUCTION AND INFRASTRUCTURE Iran, the third largest producer in the Organization of the Petroleum Exporting Countries, pumps about 4.5% of global oil supplies. Iran's output is about 3.3 million barrels per day of [Read more]
President Trump makes statement on United States military combat operations in Iran
The official White House X account released remarks from President Trump early this morning, in regards to the United States combat operations in Iran, which began overnight. The President appears to be seeking regime change in Iran, and said to the Iranian people: "When we are finished, take over your government. It will be yours to take." President Donald J. Trump on the United States military combat operations in Iran: pic.twitter.com/LimJmpLkgZ — The White House (@WhiteHouse) February [Read more]
Israel shuts down gas fields after US-Israel strikes on Iran
(Adds details, paragraph 3 onwards) By Shadia Nasralla and Marwa Rashad LONDON, Feb 28 - The Israeli Energy Ministry has ordered the temporary shutdown of parts of the country's natural gas reservoirs after Israel and the United States launched strikes on Iran on Saturday. The Leviathan gas field offshore Israel, operated by Chevron has been shut down, three sources told Reuters. Energean’s production vessel that serves several Israeli fields has also been shut down, the company said in [Read more]
What is the Strait of Hormuz and why is it so important for oil?
The United States and Israel attacked Iran on Saturday in a development that could lead to a closure of the Strait of Hormuz, a major oil export route, for days. Below are details about the strait: WHAT IS THE STRAIT OF HORMUZ? The strait lies between Oman and Iran and links the Gulf north of it with the Gulf of Oman to the south and the Arabian Sea beyond. It is 21 miles (33 km) wide at its narrowest point, with the shipping lane just 2 miles (3 km) wide in either direction. WHY [Read more]
Some oil majors, traders suspend shipments via Hormuz amid US attack on Iran, sources say
Some oil majors and top trading houses have suspended crude oil and fuel shipments via the Strait of Hormuz amid ongoing U.S. and Israeli attacks on Iran and Tehran's retaliation, four trading sources said on Saturday. "Our ships will stay put for several days," one top executive at a major trading desk said. (Reporting by Dmitri zZhdannikov; Editing by Aidan Lewis) [Read more]
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