Two Crew Missing After Tanker Engine Room Fire off Oman
The U.S. military carried out a "precision" strike on a vessel in the Gulf of Oman that failed to follow its instructions and was carrying oil from Iran, it said, while India said three Indian seafarers were missing after the attack on the tanker.The U.S. began a blockade of Iran-related shipping on April 13 after Iran severely curtailed shipping through the Strait of Hormuz, a major global oil and gas route.The U.S. military's Central Command (Centcom) said a U.S.
Western Africa Import of Clean Petroleum Crashes 44% YOY
"During April to May, Western Africa’s clean petroleum product (CPP) imports fell 44% year on year, from 1,144 thousand barrels per day (kbpd) to 642 kbpd,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.The drop in import volumes cut tonne miles by 47% year on year, lowering the region’s share of global CPP tonne miles from 5.3% to 3.6%. LR1 and LR2 product tankers recorded the largest declines…
Oil Holds Steady as Markets Assess Renewed US-Iran Hostilities
Oil prices were steady on Wednesday, as renewed U.S.-Iran hostilities muddied direction, though a forecast U.S. stock draw offered support.Brent futures LCOc1 were up 25 cents, or 0.27%, to $91.70 a barrel at 0736 GMT, while U.S. West Texas Intermediate crude CLc1 was up 23 cents, or 0.26%, to $88.43 a barrel.Prices traded higher earlier on renewed strikes between the U.S. and Iran, before retreating towards the previous session's close.Global stock draws are underpinning prices…
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