Iran Deputy FM says we're not laying mines in Hormuz Strait, AFP reports; Iran allowed some ships to cross strait
Newsquawk Staff ·
Iran Deputy FM says we're not laying mines in Hormuz Strait, AFP reports; Iran allowed some ships to cross strait.
What it means
This statement from Iran's Deputy Foreign Minister clarifies that Iran is not laying mines in the Hormuz Strait, alleviating concerns about potential disruptions in one of the world's crucial oil shipping routes. The allowance for some ships to cross suggests a temporary de-escalation, which may stabilize oil prices, particularly WTI, though the situation remains fluid and worth monitoring for any further developments.
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
- Syria and Iraq discuss exporting Iraqi oil via the Baniyas pipeline
- UAE’s Sharjah temporarily closes all its beaches as a precautionary measure after an oil spill, according to a statement
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
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