Topic
middle east
Logistics Middle East risk permanently repriced, Paratus CEO tells Splash Singapore
Paratus founder and group CEO Gus Majed told Splash247 that Middle East risk has been permanently repriced, with war-risk premiums, crew terms, charter clauses and alternative routes through Fujairah and Sohar now embedded in the market. Singapore's bunker sales rose to 28.2m tonnes in H1 2026 despite Hormuz disruption. Majed will chair the tanker session at Splash Singapore in September.
Logistics Hormuz Shock Sends Jebel Ali Tumbling Out of Global Top 30 Container Rankings
Jebel Ali fell from 10th to 32nd in global container port rankings as the Strait of Hormuz disruption cut H1 throughput to 3.14m teu, less than half of last year's 7.77m teu. DP World shifted 500,000 teu via Gulf road and rail corridors and signed a 50-year deal for a new Fujairah terminal. Ningbo-Zhoushan overtook Singapore for the first time in Alphaliner's half-year rankings.
Commodities Indian Refiners Forced to Buy Oil at Premium as Russian Discounts Vanish
Indian refiners are paying sharply higher premiums for Gulf and West African crude as the Middle East conflict tightens physical supply, while discounts on Russian and Venezuelan oil have narrowed or disappeared. Brent futures have risen about $10 a barrel in two weeks, and US Senate tariff legislation could add further pressure on global supplies.
Commodities Arabian Drilling Expands GCC Footprint with Oman Rig Deal, Signs Masirah Oil Contract
Arabian Drilling, Saudi Arabia’s largest drilling contractor by fleet size, has signed a contract with Masirah Oil and Northern Offshore for two firm and two optional wells in Oman, according to Splash247. The deal marks the company’s entry into a new GCC market, while it also resumed operations on suspended offshore rigs in Saudi Arabia earlier this month.
Commodities Oil rises as Iran signals offensive stance, US rules out ceasefire extension
Oil prices climbed on Tuesday as Iran signalled a fully offensive military posture and the US ruled out extending a temporary ceasefire, heightening supply worries. Brent rose 0.3% to $91.14 a barrel while WTI gained 42 cents to $85.04, with Hormuz vessel transits falling to five on Saturday and none on Sunday.
Logistics Dark Transits Keep Hormuz Oil Flowing as ADNOC Vessels Face New Attacks
Hormuz oil flows persist near 9 million barrels per day despite fresh attacks on ADNOC ships, as risk-tolerant tankers run dark and transfer cargo to mainstream operators off Oman. Satellite data shows ~150 vessels floating off Oman, up from ~40 in January, while ADNOC reports 19 vessels attacked. The Joint Maritime Information Center rates the threat as severe.
Commodities Gold and Silver Prices Eye Fed Minutes and Middle East Cues in Week Ahead
Gold and silver prices may extend their rally next week, driven by Fed policy signals and Middle East tensions, according to Business-Today. MCX gold futures settled at Rs 1.54 lakh per 10 grams and Comex gold at $4,437.3 an ounce. Analysts see targets of Rs 1.57 lakh per 10 grams for gold and Rs 2.54 lakh per kg for silver.
Finance Leading P&I Clubs Cancel Red Sea War-Risk Cover Across Indian Ocean
Several leading P&I clubs, including NorthStandard and UK P&I Club, have issued notices cancelling certain war-risk covers across the Red Sea, Gulf of Aden and western Indian Ocean, effective August 16. The coordinated move follows actions by commercial reinsurers and reflects a deteriorating underwriting assessment of the region, Splash247 reported.
Commodities Arabian Drilling to resume remaining suspended offshore rigs as recovery strengthens
Arabian Drilling, Saudi Arabia's largest onshore and offshore drilling company by fleet size, has received notice to resume operations for its remaining suspended offshore rigs, according to Splash247. The resumption reflects continued recovery in offshore market activity and is expected to lift offshore fleet utilisation to 100% by the end of Q3 2026.
Commodities Crude Oil Futures Rise After Reports of Separate Ship Attacks in West Asia
Crude oil futures rose on Wednesday morning after reports of separate attacks on ships by Houthi forces and US forces in the Bab el-Mandeb Strait and the Gulf of Oman. October Brent was at $89.69 and September WTI at $83.99, while MCX crude futures gained over 1 per cent. US Central Command reported disabling a Panama-flagged vessel attempting to run the blockade against Iran.
Commodities Oil Prices Hold Near One-Week High as Strait of Hormuz Reopening Remains in Limbo
Oil prices held near a one-week high on Tuesday as US-Iran talks stalled over reopening the Strait of Hormuz. WTI crude stood at $82.22 a barrel and Brent at $87.80, after both benchmarks jumped more than 5% in the prior session. Iran demanded an end to sanctions and the US naval blockade before any reopening, according to Business Today.
Finance Rupee slips 8 paise against US dollar as crude rises amid Middle East chaos
The rupee slipped 8 paise to 95.25 against the US dollar in early trade on Monday, pressured by a firmer greenback and higher crude prices. Support came from FII inflows and a $10.512 billion rise in forex reserves to $692.866 billion. Treasury experts see range-bound trade with exporters selling up to 95.40 and importers buying dips at 95.
Commodities ADNOC Suffers Sixteenth Hit as Houthis Strike Saudi Refinery
Iran attacked another ADNOC vessel in the Strait of Hormuz over the weekend, marking the sixteenth hit on the UAE energy major's fleet, while Houthis struck Saudi Aramco's 400,000 bpd Jazan refinery. Precious Shipping received $10.9m in war-risk cover for the lost bulker Mayuree Naree. Negotiations to reopen Hormuz remain deadlocked, according to Splash247.
Commodities Crude Oil Rises as Uncertainty Over Strait of Hormuz Reopening Persists
Crude oil futures rose on Monday as uncertainty persisted over the reopening of the Strait of Hormuz, according to The Hindu BusinessLine. October Brent gained 1.07% to $84.44, while September WTI rose 0.84% to $78.84. Iran's foreign minister said an agreement with Oman is in the final stages but the strait will not reopen until the US meets other conditions.
Commodities Crude Oil Futures Fall on Reports of Iran-Oman Deal for Hormuz Reopening
Crude oil futures fell Thursday after reports that Iran and Oman plan an agreement for the partial reopening of the Strait of Hormuz. Brent and WTI declined while MCX crude rose; ING strategists said US-Iran talks remain the real hinge point. The US EIA reported a 2.5-million-barrel weekly build in commercial crude inventories.
Commodities Oil prices fall to three-week low on hopes Strait of Hormuz could reopen
Oil prices fell to a three-week low on Tuesday as US officials said talks with Iran on reopening the Strait of Hormuz had progressed, according to BBC Business. Brent crude dropped almost 5% to under $80 a barrel, while West Texas Intermediate fell more than 5% to $76, with both contracts at their lowest since 13 July.
Logistics Middle East Oil Tanker Threat Worst Since Iran War Began, Analysts Warn
Threat to oil tankers in the Middle East is at its worst since the Iran war began, as Strait of Hormuz transits fall to single digits and Houthi attacks target Saudi tankers in the Red Sea. Kpler data shows Hormuz traffic down from 100+ ships per day to 8-11, while Red Sea volume sits at 50% of pre-attack levels. Hapag-Lloyd warns restoring normal flows could take three to four months even if the strait reopens.
Logistics Tankers Face Fresh Hormuz Threats as Diplomacy Resumes, Houthis Deny Bab al-Mandab Tolls
Fresh threats and explosions in the Strait of Hormuz are disrupting tanker traffic, with two Liberia-flagged tankers reporting attacks and an LNG carrier left inoperable. The Houthis denied imposing tolls at Bab al-Mandab, while Gulf exporters accelerate alternative routes and war-risk cover remains uncertain.
Commodities Oil Tumbles Over 6% as Trump's Iran Talks Revive Hopes of Easing Middle East Tensions
Oil prices tumbled more than 6% on Monday as US President Donald Trump said talks with Iran would be held, reviving hopes of easing Middle East tensions. Brent and WTI gave back part of last month's 20%+ rally, while OPEC+ agreed to raise output quotas by 188,000 bpd from September.
Commodities Indian Oil ramps up spot crude purchases as Middle East disruptions hit supplies
Indian Oil Corporation raised the spot share of its crude purchases from 50% to nearly 84% after Middle East supply disruptions following the US-Iran war, according to Business-Today. IOC posted a standalone net loss of Rs 2,661 crore for April–June on higher crude costs, even as crude throughput hit a record 19.165 MMT and domestic market share rose to 43.1%.
Commodities Oil Prices Jump Over 7% as Middle East Chaos Flares Up, Brent Crude Back at $90
Brent crude jumped 7.47% to $90.37/bbl and WTI rose 7.15% to $84.93/bbl after fresh US-Saudi strikes on Iran-backed groups in Iraq and Iranian attacks in the Strait of Hormuz. Industry data showed a 3.3 million barrel draw in US crude inventories, adding to bullish sentiment. Analysts expect volatile trade with Brent in the $80-$100 range.
Commodities Crude Oil Futures Jump After US-Saudi Strikes on Iran-Backed Targets in Iraq
Crude oil futures rallied on Wednesday following joint US-Saudi military strikes against Iran-aligned targets in Iraq. Brent and WTI prices jumped over 3.5% as supply risks escalated, with the Jazan refinery shutdown and Strait of Hormuz traffic halted.
Commodities Oil Prices Fall to One-Week Low as Hopes of US-Iran Breakthrough Ease Supply Concerns
Oil prices declined to a one-week low as expectations of a diplomatic breakthrough between the United States and Iran reduced supply worries. The development highlights the sensitivity of crude markets to geopolitical shifts in the Middle East. No specific price levels or volume data were provided in the report.
Logistics 26,000 Flight Cancellations and Soaring Costs: US-Iran Conflict Devastates Indian Airlines
The US-Iran conflict has forced Indian airlines to cancel approximately 26,000 international flights as of July 20, 2026, due to Middle East airspace restrictions. Rerouting has increased flight durations and fuel consumption, driving up operational costs and causing significant revenue losses. The disruption tightens air cargo capacity for freight forwarders reliant on bellyhold space.
Logistics Ports and Pipelines Reshape Middle East Trade Beyond the Strait of Hormuz
DP World has confirmed plans for two new terminals on the UAE's east coast, outside the Strait of Hormuz, adding a combined 2.5 million TEU of container capacity and 5.3 million tonnes of general cargo. Rival Gulftainer is expanding Khorfakkan terminal. Meanwhile, pipeline projects accelerate to bypass Hormuz for crude oil, though refined products remain exposed.
Logistics Houthis Claim Missile and Drone Strikes on Two Saudi Tankers in Red Sea Escalation
Yemen's Houthi movement claimed to have struck two Saudi oil tankers in the Red Sea on July 23, 2026, the first attacks since declaring a naval blockade on Saudi Arabia. One tanker, the Encelia, was hit by an unknown projectile, causing a fire. The Houthis declared the Bab el-Mandeb strait closed to Saudi-flagged tankers, raising risks for shipping lanes and energy infrastructure.
Commodities Russia, Latin America Fill Gap as India's Middle East Oil Imports Fall on Hormuz Disruptions
India's crude oil imports from the Middle East dropped 27% year-on-year in the April-June quarter to 1.55 million barrels per day, constrained by disruptions through the Strait of Hormuz following the US-Israeli attack on Iran. Imports from the CIS, including Russia, surged 8.3% to 2.26 million barrels per day, with Russian crude hitting an all-time high of 2.64 million barrels per day in June. Imports from Latin American suppliers such as Brazil, Venezuela, and Angola also increased, as Indian refiners adapted to supply route disruptions.
Logistics Two Tankers Carrying Saudi Crude Reverse Course After Houthi Maritime Threat
Two tankers carrying Saudi crude for China and India reversed course in the Red Sea, and a third diverted before a scheduled call at Yanbu, following a Houthi maritime embargo threat. This is the first publicly confirmed route change linked to the embargo, which could add weeks to voyage times if vessels are forced to reroute via Suez and around Africa.
Logistics Sinokor Offers Crews Six Months' Pay for Hormuz Round Trips After Tanker Attacks
After two product tankers were abandoned following projectile strikes in the Strait of Hormuz, South Korea's Sinokor Group offered crews six months' additional pay for a one-month round trip. War-risk premiums have climbed to 10% of vessel value, and commercial traffic through the chokepoint has slowed sharply.
Logistics Houthi rebels announce new blockade of key Red Sea shipping lane threatening global trade
Houthi rebels in Yemen announced a naval blockade of Saudi Arabia at the Bab al-Mandab Strait, escalating conflict that previously shut down Red Sea shipping. The move threatens the return of carrier services and could disrupt energy exports and global supply chains.
Logistics Cathay Pacific Halts Restart of Middle East Cargo Flights as US-Iran War Reignites
Cathay Pacific has postponed the resumption of passenger and freighter flights to Dubai and Riyadh, joining Cargolux in suspending service to multiple Middle East hubs after renewed US-Iran hostilities. The moves reduce available airfreight capacity and force longer, costlier routing, with global air capacity expected to tighten as airlines avoid the conflict zone.
Commodities US fuel prices rise: Gasoline returns to $4 per gallon after Middle East flare-up
A report from Times of India indicates that US gasoline prices have risen to $4 per gallon after a Middle East flare-up. The headline highlights the renewed price level, though no further details on specific contracts or volumes were provided.
Commodities Oil Prices Jump 3% as US-Iran Conflict Intensifies, Brent Crude Tops $90 per Barrel
Oil prices rallied on Monday as US-Iran conflict intensified, with Brent crude topping $90 per barrel and WTI reaching $84.20. The surge follows sustained military strikes and shipping disruptions through the Strait of Hormuz, where passage slowed to just four vessels on Sunday. A Barclays analyst warned that markets remain too complacent about the impact on inventories.
Logistics Iran Primes Houthis to Shut Bab el-Mandeb, Risking Global Shipping Disruption
Iran has reportedly asked Yemen's Houthi movement to prepare to close the Bab el-Mandeb Strait if the US attacks Iranian power infrastructure. Missiles and drones have been deployed near the strategic waterway, according to sources. The move threatens to choke a critical chokepoint for global trade, forcing further diversions around Africa and driving up freight costs.
Logistics US Forces Fire Hellfire Missiles to Disable Iran-Bound Tanker in Arabian Gulf
U.S. forces fired Hellfire missiles to disable the Curacao-flagged tanker M/T Belma attempting to violate a blockade toward Iran's Kharg Island terminal. The vessel ignored multiple warnings and is no longer transiting. The U.S. blockade began July 14 after the ceasefire collapsed. Crude oil futures stabilized at $78 per barrel with reduced Strait of Hormuz traffic.
Commodities Oil Prices Extend Gains for Fourth Day, Hold Above $85 Amid US-Iran Escalation
Crude oil prices extended gains for a fourth consecutive session, with Brent trading at $85.48/bbl and WTI at $80.27, as US military strikes on Iran escalated Middle East tensions. Analysts warn of supply disruptions through the Strait of Hormuz and Bab el-Mandeb. Goldman Sachs projected Brent could rise above $110 if Gulf exports face delays.
Trade Oil, LNG, Fertilisers and Diamonds at Risk from Iran's Wider Blockade Threat Beyond Strait of Hormuz
Iran's Islamic Revolutionary Guard Corps (IRGC) has warned it could expand efforts to disrupt regional trade beyond the Strait of Hormuz, threatening oil, LNG, fertilisers and diamond supply chains. The Strait carries nearly 20 million barrels per day of crude and petroleum products, and over 90% of Qatar and UAE's LNG exports. Diamonds routed through India and UAE for cutting and polishing face disruption, along with petrochemicals and food shipments.
Logistics Hormuz crisis reaches final form: double tolls, dual routes, and paralysis for shipping
The Strait of Hormuz has become the world's first double-tolled chokepoint after the US announced a 20% levy on all cargo transiting the strait, while Iran continues collecting fees from 'friendly' vessels. The dual pricing, along with two rival traffic routes and two irreconcilable geopolitical worldviews, is creating paralysis across ocean freight, especially for oil and LNG tankers. P&I clubs, charterers and traders have no precedent to price the risk.
Logistics Container Ship Attacked in Strait of Hormuz as Iran Widens War, Disrupting Global Trade
Iran attacked the container ship GFS Galaxy in the Strait of Hormuz, setting it afire and forcing crew to abandon ship. Iran declared the strait closed to vessel traffic and expanded missile/drone attacks on several Gulf states. Energy prices surged, and Maersk's planned Suez restart is threatened.
Commodities Gold and Silver Prices Drop Over 1% as Middle East Tensions Drive Oil Higher
Spot gold fell 1.2% to $4,072.78 an ounce and US gold futures slipped 0.8% to $4,081.70 amid escalating US-Iran tensions over the Strait of Hormuz, which drove oil prices sharply higher and revived inflation concerns. Analysts expect bullion to remain in a corrective phase unless stronger fundamental triggers emerge, with market attention on geopolitical developments and upcoming Chinese economic data.
Commodities Oil Jumps Nearly 5% as Trump Declares Iran Ceasefire 'Over'; Wall Street Falls
Oil prices surged nearly 5% and US stocks fell on Wednesday after President Donald Trump declared the ceasefire with Iran effectively over, raising fears of renewed disruptions to global energy supplies. Brent crude rose 4.8% to $77.74 a barrel, while the S&P 500 dropped 0.5% and the Dow lost 550 points.
Logistics Strait of Hormuz Crisis: Tanker Attacks Trigger US Strikes, Threat Level Raised to 'Severe'
Three tanker attacks in 24 hours — including a Qatari LNG carrier and a Saudi-linked VLCC — have pushed the Strait of Hormuz back into crisis mode. The US responded with strikes on Iranian military infrastructure, and the Joint Maritime Information Center raised the threat level to 'severe'. The escalation reverses a fragile recovery from last month's ceasefire and threatens commercial shipping through the vital waterway.
Logistics Projectile strike near Strait of Hormuz tests fragile recovery of commercial shipping
A tanker was struck by an unknown projectile near the Strait of Hormuz on Monday, testing the fragile recovery of commercial shipping following last month's US-Iran ceasefire. The incident occurred near the US-coordinated southern transit corridor off Oman, and authorities continue to warn of a 'substantial' maritime security threat. Meanwhile, bulk carriers carrying sulphur face severe corrosion risks from prolonged delays.
Commodities Global LNG trade hit record in 2025, but Middle East conflict clouds outlook, IGU says
Global LNG trade hit a record 436.98 million metric tons in 2025, up 6.3% year-on-year, driven by US exports and European imports, according to the International Gas Union. However, the IGU warned that conflict in the Middle East could lead to a contraction in 2026 due to damaged infrastructure and uncertainty for Asian buyers.
Logistics Air India Express Restores Middle East Flights: New Routes and Schedules Boost Air Cargo Capacity
Air India Express has restored multiple flights to Middle East destinations including Kuwait and Salalah, with new schedules from Kozhikode and Bengaluru. The additional frequencies expand bellyhold cargo capacity on key India-Gulf lanes, benefiting freight forwarders and logistics operators.
Commodities India's Crude Imports Bounce Back to Pre-Conflict Levels as Refiners Diversify Sources
India's crude oil imports have rebounded to near pre-conflict levels despite Middle East disruptions, as refiners diversified away from Gulf suppliers. HSBC reports that Russian crude, trading at a discount, has become a key alternative. A temporary 'mini-glut' from reopened Hormuz shipping is expected to ease as inventories are rebuilt.
Logistics Strait of Hormuz Operations at Risk as Iran-Oman Toll Plan Threatens Global Oil and LNG Flows
Iran and Oman are considering charging ships for transit through the Strait of Hormuz, a vital chokepoint for about one-fifth of global oil and LNG trade. The move follows a months-long blockade triggered by conflict, and despite a June 17 MoU that reopened the strait, attacks on vessels continue. The legal status of such tolls is disputed, with the US warning of 'total chaos'.
Logistics Strait of Hormuz traffic picks up again as supertankers return after attacks
The Strait of Hormuz is seeing a revival in traffic after a tense period of attacks and retaliatory strikes. Around 24 vessels passed through on Monday, including supertankers from Sinokor and Bahri, capable of carrying up to 9 million barrels of crude. The movement follows US strikes on Iran and a halt in hostilities ahead of peace talks.
Logistics Strait of Hormuz Crisis Tests Trust Between Shipmanagers, Owners and Crews, Says InterManager President
The crisis in the Strait of Hormuz is testing relationships between shipmanagers, owners, and crews. InterManager president Sebastian von Hardenberg writes that mental well-being and transparent communication are critical. The industry's response will affect seafarer recruitment and retention.
Commodities Crude Oil Futures Rise After US-Iran Attacks, Ceasefire Agreed Ahead of Qatar Talks
Crude oil futures climbed on Monday following US-Iran attacks in West Asia, with September Brent at $73.27 (up 0.92%) and August WTI at $70.05 (up 1.18%). A reported ceasefire and upcoming talks in Qatar eased immediate fears, but the Joint Maritime Information Centre raised the Strait of Hormuz threat assessment to 'substantial', keeping supply risks alive. ING Think analysts noted complacency in the market and highlighted significant upside risk if supply recovery is slow or re-escalation occurs.
Logistics Strait of Hormuz traffic surges then halts after attack, evacuation paused
Ship traffic through the Strait of Hormuz surged to a three-month high on Wednesday after the US lifted sanctions on Iranian oil, but dropped sharply on Friday following an attack in the Gulf of Oman that halted an IMO evacuation operation for 11,000 stranded seafarers. The surge saw 73 vessels transit on Wednesday, but traffic fell by half after Iran warned ships to avoid the Omani coast. Major global carriers have not returned, and the IMO plans to reconfirm safety guarantees before resuming evacuations.
Commodities Qatari crude oil returns to Asian market as Strait of Hormuz reopens for trade
Qatar has resumed crude oil exports to Asia for the first time since the Iran war began, with Al-Shaheen grade sold to Formosa Petrochemical Corp and Indian refiners. The Strait of Hormuz is seeing increased tanker traffic following a US-Iran deal, though exports remain well below pre-war levels. Oil futures edged up after a attack on a cargo ship raised safety concerns.
Logistics Evergreen Ship Hit at Hormuz Halts IMO Evacuation, Threatens Transit Resumption
Plans to restart commercial shipping through the Strait of Hormuz have been dealt a blow after an Evergreen containership was hit shortly after transiting the waterway, according to Splash247. The International Maritime Organization (IMO) has paused its evacuation operation for vessels trapped in the Gulf. The incident escalates security risks for ocean carriers and may force further route diversions and insurance cost increases.
Commodities Middle East fuel oil exports hit four-month high as Hormuz shipping recovers
Middle Eastern fuel oil exports are set to rebound to a four-month high in June, rising more than 20% from May, as Iraq and Saudi Arabia reroute supplies through alternative ports while Strait of Hormuz shipments gradually resume after the US-Iran interim peace agreement. Exports are expected at about 2.4 million metric tonnes, still far below pre-conflict levels, with recovery constrained by tighter regional balances and peak summer demand.
Commodities Strait of Hormuz Reopens: Middle East Oil Exports to Climb to 4-Month High
The Strait of Hormuz is recovering after over 100 days of disruption, with Middle Eastern fuel oil exports expected to reach 2.4 million metric tons in June, a 20% increase from May. Exports are driven by supply diversions from Iraq and Saudi Arabia, though volumes remain below pre-war averages. Uncertainty over the US-Iran peace deal durability keeps shipping cautious.
Logistics Keyfield Secures 13 Charter Deals Worth $55.7M Across Asia and Middle East
Malaysia-based Keyfield International has been awarded 13 new charter contracts worth RM229m ($55.7m), with extension options valued at RM41m ($10m). The deals cover offshore oil and gas support in Malaysia, Thailand, and the Middle East, bringing total contract wins in H1 2026 to 21. CEO Darren Kee Chit Huei highlighted diversification as a resilience strategy.
Commodities ADES Deepens Saudi Presence with $285M Acquisition of Saipem’s Drilling Subsidiary
ADES has agreed to acquire Saipem's Saudi Arabian subsidiary for $285 million, adding five premium jackup rigs. The deal strengthens ADES' position in Saudi Arabia and marks its entry into Mexico, increasing its fleet to 88 offshore units and adding approximately $1 billion to its backlog.
Commodities All Roads Still Lead to the Middle East: Why India’s Energy Pipeline Runs Through the Gulf
A Hormuz crisis lasting over 100 days exposed India's continued reliance on Middle Eastern energy supplies. Despite attempts to diversify LPG imports from West Africa and the US, physical constraints prevented full offset. LNG demand fell as landed prices stayed above $16-17 per mmBtu. Normalisation of Hormuz traffic could ease supply pressures.
Finance Rupee Falls 30 Paise to 94.63 Against Dollar as Middle East Uncertainty Weighs
The Indian rupee fell 30 paise to close at 94.63 against the US dollar on Monday, pressured by a strong dollar index and lingering Middle East uncertainty. Forex traders noted volatile trading as supportive inflows were offset by firm dollar demand and a lack of clarity on a long-term peace deal. The RBI net sold $8.944 billion in the spot forex market in April, following $9.758 billion in March.
Commodities Crude Comeback: 20 Million Barrels Leave Iran Port After Peace Breakthrough
A wave of 11 tankers carrying 20 million barrels of crude oil departed from Iran's Chabahar port after a peace breakthrough between Tehran and Washington, according to shipping data cited by Bloomberg. The vessels had been blocked by a US military blockade, and the move signals a potential easing of oil supply constraints. Uncertainty remains as peace negotiations are delayed.