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U.S. calls on China to prevent Iran from closing Strait of Hormuz and disrupting global oil flows​

  • U.S. Secretary of State Marco Rubio called on China to prevent Iran from blocking the Strait of Hormuz in retaliation for U.S. airstrikes.
  • About 20% of the world’s oil passes through the Strait of Hormuz.
  • China is Iran’s biggest oil customer and maintains friendly relations with the Islamic Republic.
U.S. Secretary of State Marco Rubio on Sunday called for China to prevent Iran from closing the Strait of Hormuz, one of the most important trade routes for crude oil in the world.

“I encourage the Chinese government in Beijing to call them about that, because they heavily depend on the Straits of Hormuz for their oil,” Rubio said in an interview on Fox News. China is Iran’s most important oil customer and maintains friendly relations with the Islamic Republic.

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Oil prices jump 4% after U.S. strikes on Iran raise fears of supply disruption​

  • Oil markets are reacting after Washington’s surprise attack against Iranian nuclear sites further escalated the Iran-Israel conflict, raising questions over the crude supply outlook.
  • Iran produced roughly 3.3 million barrels per day in May, according to an OPEC report citing independent estimates.
  • Shipments for broader Middle East supplies could be imperiled if Iran or its regional proxies take steps to block the key Strait of Hormuz.
Oil futures jumped 4% at the start of the first trading session since the U.S. launched direct attacks against Iran, casting further shadow over the supply outlook in the embattled oil-rich Middle Eastern region.

U.S. crude oil rose $3.12, or 4.23%, to $76.96 per barrel, while global benchmark Brent jumped $3.27, or 4.25%, to $80.28 per barrel.

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Famous VLCC sold for ninth time - Splash247

The 300,000 dwt Alter Ego—a vessel with a storied past—has changed hands for the ninth time in its 19-year lifespan. Greek outfit Cavalli Marine, known for its preference for vintage tonnage, reportedly sold the Chinese-built tanker to Chinese buyers for around $42m, netting an estimated $3m...
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splash247.com

US airstrikes on Iran spark memories of previous tanker wars - Splash247

Shipping stock prices surged in Asia today on the back of the fast-escalating geopolitical crisis in the Middle East, with Iranian politicians threatening to shut down the Strait of Hormuz after US airstrikes on key nuclear sites. Iran’s parliament has voted to block the Strait of Hormuz, a...
splash247.com splash247.com
 

Why Iran Will Not Close the Strait of Hormuz | WGOW Shipping is on a SHIP!​

Jun 23, 2025 #supplychain #oil #tankers
🚨I apologize but the wind picked up during the video so there is some background noise.🚨In this episode, Sal Mercogliano — a maritime historian at Campbell University (@campbelledu) and former merchant mariner — discusses what's going on in the Strait of Hormuz with Iran threatening to close it.


12:23

- The Tanker War https://www.usni.org/magazines/procee...

More links below the vid on youtube.
 

Oil set for steepest weekly decline in two years as risk subsides​

LONDON (Reuters) -Oil prices rose on Friday though were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate.

Brent crude futures rose 54 cents, or 0.8%, to $68.26 a barrel by 0830 GMT while U.S. West Texas Intermediate crude gained 60 cents, or nearly 0.9%, to $65.83.

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https://www.msn.com/en-us/money/mar...as-risk-subsides/ar-AA1Hwy0h?ocid=socialshare
 
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