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Oil hits new one-week high as supply disruptions outweigh Strait of Hormuz talks

Oil hits new one-week high as supply disruptions outweigh Strait of Hormuz talks

By Scott DiSavino Aug 11 (Reuters) - Oil prices edged up to a fresh one-week high on Tuesday as the market focused more on supply disruptions in the Middle East and Russia than on signs of progress in talks between Oman and Iran over shipping through the Strait of Hormuz.

Iran-backed Houthi rebels clash with Yemeni government forces and other Mideast developments

Iran-backed Houthi rebels clash with Yemeni government forces and other Mideast developments

Clashes between Iran-backed Houthi rebels and government forces in Yemen raged overnight

IEA slashes 2026 supply forecast as Hormuz reopening remains elusive

IEA slashes 2026 supply forecast as Hormuz reopening remains elusive

By Robert Harvey LONDON, Aug 12 (Reuters) - Global oil supply will fall by 4.3 million barrels per day, or around 4%, this year, the International Energy Agency said in its monthly oil market report on Wednesday, as renewed hostilities in the Middle East are set to plunge the world deeper into an

Oil prices hold near one-week high as Hormuz talks advance

Oil prices hold near one-week high as Hormuz talks advance

By Scott DiSavino Aug 11 (Reuters) - Oil prices held near a one-week high on Tuesday as the market assessed signs of progress in talks between Oman and Iran over shipping through the Strait of Hormuz while disruption to Middle Eastern and Russian energy flows continued.

Oman says grounded tanker oil spill covers 400 square km

Oman says grounded tanker oil spill covers 400 square km

CAIRO, Aug 10 (Reuters) - Leaking crude oil from a tanker grounded off a nature reserve in Oman has created a slick covering almost 400 square kilometres, the country's government said on Monday.

Oil rises 4% as Iran, US both demand compensation and Hormuz hopes fade

Oil rises 4% as Iran, US both demand compensation and Hormuz hopes fade

By Arathy Somasekhar HOUSTON, Aug 10 (Reuters) - Oil prices jumped over 4% on Monday after Iran and the United States traded demands for compensation, dimming prospects for a deal to reopen the Strait of Hormuz.

Oil climbs 5% as Iran, US both demand compensation and Hormuz hopes fade

Oil climbs 5% as Iran, US both demand compensation and Hormuz hopes fade

By Arathy Somasekhar HOUSTON, Aug 10 (Reuters) - Oil prices settled 5% higher on Monday after Iran and the United States traded demands for compensation, dimming prospects for a deal to reopen the Strait of Hormuz.

Sanctioned Oil Tanker Sinks Off Oman, Spreading Oil Spill

Sanctioned Oil Tanker Sinks Off Oman, Spreading Oil Spill

A sanctioned oil tanker, the Caroline Bezengi, carrying nearly 1 million barrels of crude oil, has sunk off the coast of Oman. The vessel, part of Russia's 'shadow fleet' and sanctioned by several countries, has been leaking oil, which has spread over 800 square kilometers, reaching the shores of Qibliyah Island. The spill threatens the Arabian Sea reserve, home to endangered species. Greenpeace and other environmental groups have raised alarms about the worsening condition of the tanker and the expanding oil spill. The situation is exacerbated by monsoon weather, complicating containment efforts.

Oman Struggles to Contain Oil Spill from Russian Tanker Near Protected Marine Area

Oman Struggles to Contain Oil Spill from Russian Tanker Near Protected Marine Area

Oman is working to contain a significant oil spill from the tanker Caroline Bezengi, which has been stranded off its southern coast for over a month. The spill covers nearly 400 square kilometers and is within 7 kilometers of the coast. The tanker, part of Russia's 'shadow fleet' used to bypass Western sanctions, was damaged by an explosion, leading to the spill. The affected area includes the Hallaniyat archipelago, a marine reserve home to diverse marine life. Omani authorities are conducting aerial surveillance and deploying divers to manage the spill, while developing a plan to transfer the vessel's oil cargo to mitigate risks.

Oil rises 3% as Iran tempers hopes of Hormuz reopening

Oil rises 3% as Iran tempers hopes of Hormuz reopening

By Arathy Somasekhar HOUSTON, Aug 10 (Reuters) - Oil prices jumped 3% on Monday after Iran said the U.S. must lift sanctions on Tehran, pay reparations and meet a number of other conditions before the Strait of Hormuz is reopened.

Oil pares gains as traders weigh Oman-Iran talks

Oil pares gains as traders weigh Oman-Iran talks

By Anushree Mukherjee Aug 11 (Reuters) - Oil prices pared gains on Tuesday after hitting their highest for more than a week as signs of progress in talks between Oman and Iran over shipping through the Strait of Hormuz were weighed against ongoing disruption to Middle East energy flows.

Oil Spill Off Oman from Sanctioned Russian Tanker Spreads Over Large Area

Oil Spill Off Oman from Sanctioned Russian Tanker Spreads Over Large Area

An oil spill from the Caroline Bezengi tanker, carrying Russian crude, has spread over 150 square miles off the coast of Oman. The vessel, under Western sanctions, reported difficulties after a suspected blast. Oman is working to contain the environmental impact near the Hallaniyat Islands. The spill poses a threat to marine life and coastal areas, requiring extensive cleanup efforts. The incident raises concerns about the use of aging tankers by Russia to bypass sanctions.