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Oil prices surge after reports of Strait of Hormuz blockade

Oil prices

Global oil markets witnessed a sharp rise following reports of a blockade in the Strait of Hormuz, a key route for global energy supplies.

The price of Brent crude jumped by $7, crossing $102 per barrel, while West Texas Intermediate (WTI) rose by around $6.5 to reach $103 per barrel.

Shipping costs in the Gulf region also surged significantly, with insurance premiums for vessels increasing by as much as 1,000%.

Reports indicate that a tanker carrying oil worth $150 million would now require approximately $7.5 million in insurance premiums.

Meanwhile, global demand for alternative energy sources is rising. China has taken a lead in this sector, with exports from Chinese renewable energy companies increasing by 57%.

On the other hand, OPEC has expressed concerns that global oil demand could decline amid shifting energy trends.

US Central Command begins mine clearance operations in Strait of Hormuz

US Central Command

Washington: The United States Central Command has launched operations to remove naval mines in the Strait of Hormuz, aiming to ensure the safety of a key global shipping route.

US Admiral Brad Cooper stated that the USS Frank E. Petersen Jr. and USS Michael Murphy have successfully transited the strait, with two missile-equipped destroyers deployed in the region.

He emphasized that the United States is committed to keeping the waterway secure and has accelerated measures to ensure that this vital corridor for global trade remains open and safe.

CENTCOM further said that details of the secured route will soon be shared with the maritime industry to facilitate safe navigation and restore confidence in shipping operations.

Trump issues ultimatum to Iran over Strait of Hormuz

Trump issues

Washington: US President Donald Trump has once again issued a stark warning to Iran, stating that the country has just 48 hours to reach a deal or reopen the Strait of Hormuz, warning that failure to act could trigger catastrophic consequences.

Trump posted on his social media platform, Truth Social, recalling that he had previously given Iran 10 days to negotiate an agreement or open the Strait.

He added that the 10-day period is now ending, leaving only 48 hours, and reiterated that if no deal is reached, Iran would face severe repercussions.

UAE prepares to secure Strait of Hormuz with allies after Iran attacks

UAE prepares

The United Arab Emirates (UAE) is reportedly preparing, alongside the US and its allies, to secure the strategic Strait of Hormuz by force in response to recent Iranian attacks.

According to a report by the Wall Street Journal, the UAE is lobbying the United Nations Security Council for a resolution that would authorize such an operation.

Emirati diplomats are urging military powers from the US, Europe, and Asia to form a joint coalition capable of reopening the Strait through force if necessary.

A UAE official stated that the country has assessed its capabilities to ensure the strait’s security, including mine-clearing operations and other support services.

The UAE has also argued that the US should assert control over some islands in the strait, including Abu Musa Island, which has been under Iranian control for decades but is also claimed by the Emirates.

Arab officials indicate that Saudi Arabia and other Gulf states are taking a hard stance against Iran, seeking to continue the conflict until Iran is weakened or its government removed. Bahrain, a close US ally hosting the Fifth Fleet headquarters, is preparing the resolution for a vote expected on Thursday.

According to Gulf officials, the UAE’s assertive position signals a major strategic shift. Previously, Emirati diplomats were engaged in mediation efforts between the US and Iran, including a visit by former Secretary of Iran’s Supreme National Security Council, Ali Larijani, to Abu Dhabi.

The UAE is now reportedly aligning closer with US President Donald Trump’s stance, which calls for allies to bear a greater share of military responsibility. Trump has told advisors he is willing to end the conflict without reopening the strait, leaving the matter largely to other nations.

Gulf officials believe that hesitant countries in Asia and Europe may join the operation if Security Council approval is granted. However, Russia and China could veto the resolution, while France has proposed an alternative draft. Even if the resolution fails, the UAE is prepared to participate in any effort to reopen the Strait of Hormuz.

Trump urges China, Japan to help secure Strait of Hormuz

Trump urges China

US President Donald Trump has once again called on China, Japan and other countries to help ensure the reopening and security of the Strait of Hormuz amid ongoing tensions with Iran.

Speaking at a press conference in Washington, D.C., Trump said US forces were rapidly dismantling Iran’s defense systems and had sunk boats allegedly involved in laying naval mines in the Strait of Hormuz. He noted that only about one percent of US oil shipments pass through the strait, while a much larger share of oil for countries like China and Japan travels through the strategic waterway.

Trump said around 90 percent of China’s oil imports and 95 percent of Japan’s oil imports pass through the Strait of Hormuz, along with about 35 percent of South Korea’s oil, urging these countries to send naval fleets to help secure the route.

The US president claimed that Iranian ballistic missile and drone attacks had dropped by about 90 percent, adding that more than 100 Iranian naval vessels had been destroyed and the country’s naval forces severely weakened. He said over 7,000 commercial and military targets had been struck in Iran.

Trump also stated that US forces had destroyed 30 vessels allegedly used to deploy mines in the Strait of Hormuz, though he acknowledged it could not be confirmed with certainty whether Iran had actually laid mines there.

He further claimed that Iran’s naval and air defenses had been effectively neutralized, including the destruction of multiple military targets on Kharg Island. However, he added that Iranian oil facilities had not yet been targeted, though “all options remain open.”

Trump criticized some countries for not showing enough enthusiasm in assisting US efforts in the strait, saying the United States had protected many of them from external threats for decades.

The US president also said Iran had expressed interest in negotiations but that Washington was not ready for talks at the moment. He added that Iran’s nuclear program had suffered a “decisive blow” through an operation he referred to as “Operation Midnight Hammer.”

Trump also claimed that he had warned about Osama bin Laden before the September 11 attacks, suggesting the tragedy might have been prevented if his warnings had been heeded.

Donald Trump claims global support to keep Strait of Hormuz open

Donald Trump

WASHINGTON: US President Donald Trump has warned of continued military action around the Strait of Hormuz, saying several countries could join the United States in efforts to keep the vital shipping route open.

In a statement shared on social media, Trump repeated his claim that Iran’s military capabilities had been significantly weakened but cautioned that Tehran could still launch limited attacks, including drone strikes or missile attacks in or near the Strait of Hormuz.

He also alleged that Iran could lay naval mines in the area, posing risks to international shipping.

Trump expressed hope that countries including China, France, Japan, South Korea and United Kingdom would send naval vessels to help maintain security in the waterway.

He further said that the United States would continue heavy bombardment along coastal areas near the strait and target Iranian boats and vessels if necessary, adding that Washington aims to ensure the Strait of Hormuz remains open, secure and free for global navigation.