Shipping Firms, Awaiting Details, Are Cautious of U.S.-Iran Deal
Shipowners welcomed the agreement to reopen the Strait of Hormuz, but said they would need more security guarantees before resuming transits.
Source: New York Times Iran ▾
China Moves the Price of Oil, Even When It Buys Less
China is the world’s largest purchaser of oil. But three months after the war with Iran began, it cut its imports, cushioning the global market.
Hormuz Reopening Would Offer Relief for Asia, but Economic Scars Will Remain
For months, Asia has suffered a physical supply crunch that will likely drag on its economies long after the crucial waterway reopens.
Oil Prices Tumble After Trump Announces Deal With Iran
Oil prices fell and stocks gained on Sunday evening on the hope that a deal would allow more energy and other goods to flow through the Strait of Hormuz.
Despite US Help, Little Oil Has Gone Through Strait of Hormuz
President Trump said more than 200 commercial vessels had safely traveled through the strait. That’s still far fewer than before the start of the war.