The Latest Breaking News from the Persian Gulf

Euro falls to 17-month low against dollar on French debt concerns

The euro has stumbled to a 17-month low against the US dollar on concerns about France's ability to bring its public finances in order. The currency has dropped nearly 7 percent from its peak in late January. Meanwhile, global oil prices have fallen despite ongoing tensions around the Arabian Peninsula,…

France 24 · Oct 5

India oil refiners change tactics and hire ships to cross Hormuz

Indian oil refiners are now hiring tankers to pick up crude oil within the Persian Gulf. This approach helps cut costs and secure supply chains amid changing geopolitical conditions. Recent Iraqi crude sales are on a free-on-board basis, giving Indian refiners better logistics control. The recovery of oil flows through…

The Economic Times · Oct 1

4,500+ Indian seafarers in Persian Gulf under close watch amid rising maritime threats: MEA

India is currently overseeing the well-being of more than 4,500 Indian seafarers operating in the Persian Gulf. Of this number, 163 seafarers are on board 12 commercial vessels, which include both Indian and foreign ships. The Ministry of External Affairs is coordinating with local stakeholders to ensure their safety and…

The Economic Times · Sep 30

Houthis, Saudis, Iran - and the future of Middle Eastern oil

In a lightning offensive last week, Yemen’s Houthis took over much of the country’s Red Sea coast, threatening shipping in the vital sea lane that had emerged as an alternative to Strait of Hormuz in the Persian Gulf. Houthis have been fighting a Saudi-led military coalition for a decade, although…

The Times of India · Sep 18

Iran’s threat to cut undersea cables in Strait of Hormuz poses a serious threat to Gulf states

The conflict between Iran and the US appears to have reached a stalemate. The US navy continues to prevent Iranian vessels or others transiting to or from Iranian ports. Iran, meanwhile, threatens shipping moving in or out of the Persian Gulf region via the Strait of Hormuz.

The Conversation · Sep 15

Saudi pipeline hit by drones to be out of service for weeks, further restricting oil flow

A Saudi oil pipeline faces weeks of repairs after an attack, impacting global petroleum supplies. Houthi rebels captured key Red Sea islands, further threatening Saudi oil exports. This disruption forces the kingdom to shift crude oil away from the Persian Gulf. The pipeline's shutdown threatens extended periods of reduced oil…

The Economic Times · Sep 15

When it comes to crude oil prices, it's all about location, location, location

Crude oil prices show a significant divergence as conflict escalates in the Middle East. Barrels facing transit risks are heavily discounted, while freely moving oil commands premiums. The Bab el-Mandeb strait's potential closure and pipeline attacks are impacting global supply routes. Oil outside the Persian Gulf is increasingly expensive, especially…

The Economic Times · Sep 14

Watch: US strikes 5 Iranian oil tankers near Kharg Island after Iran targets US navy ship

Donald Trump's fury toward Iran continued on Tuesday as the US launched an attack targeting multiple Iranian oil tankers near Kharg Island in the Persian Gulf.

The Times of India · Sep 8

US strikes Iranian tankers near Kharg Island; Tehran threatens Gulf oil vessels

The US targeted multiple Iranian oil tankers near Kharg Island in the Persian Gulf on Tuesday, two US officials told CNN, in the latest escalation between Washington and Tehran.

The Times of India · Sep 8

Global Market Today: Asia stocks waver as yen surges, Iran warns of retaliation

On Tuesday, Asian markets exhibited a mixed bag of outcomes, with the yen gaining strength significantly. Oil prices surged for the third consecutive day, driven by escalating threats from Iran in the Persian Gulf. Japan's economy displayed a faster growth rate than previously forecasted, alongside a notable rise in real…

The Economic Times · Sep 8