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Syria Facilitates Major Fuel Transport to Europe Amid Regional Tensions

Syria Facilitates Major Fuel Transport to Europe Amid Regional Tensions

Syria has become a pivotal route for transporting Iraqi fuel to Europe, with 2.1 million tonnes moved since April. This development comes as Iraq seeks alternative export routes due to Iran's blockade of the Strait of Hormuz. The number of lorries transporting fuel through Syria has increased significantly, from 10 to 1,000 daily. The fuel is unloaded at Baniyas on Syria's Mediterranean coast and then shipped to European ports. This shift is part of a broader strategy to enhance Iraq's export capabilities, including plans to revive the Kirkuk-Baniyas pipeline, which was recently agreed upon in Washington. The pipeline project, involving major companies like Chevron and TotalEnergies, aims to increase Iraq's export capacity significantly.

Senate takes first steps on Russian sanctions as Zelenskyy watches from Senate gallery

Senate takes first steps on Russian sanctions as Zelenskyy watches from Senate gallery

The Senate took the first steps toward passage of a sweeping Russian sanctions bill on Tuesday with Ukrainian President Volodymyr Zelenskyy in the Capitol

Zelenskyy visits Trump at the White House before Graham's funeral, seeking cooperation with US

Zelenskyy visits Trump at the White House before Graham's funeral, seeking cooperation with US

President Donald Trump and Ukrainian President Volodymyr Zelenskyy are meeting at the White House

Russia sanctions championed by Graham clear first Senate hurdle as Zelenskiy visits

Russia sanctions championed by Graham clear first Senate hurdle as Zelenskiy visits

By Patricia Zengerle and Timothy Gardner WASHINGTON, July 28 (Reuters) - The U.S.

World shares are mixed and South Korea's Kospi share index falls 6%, while oil prices surge

World shares are mixed and South Korea's Kospi share index falls 6%, while oil prices surge

Shares in Europe and Asia are mixed, while South Korea’s Kospi share index fell 6% in another bout of selling of chipmaking shares

Indian Refinery MRPL Restricts Crude Suppliers from Hormuz and Red Sea Routes

Indian Refinery MRPL Restricts Crude Suppliers from Hormuz and Red Sea Routes

Mangalore Refinery and Petrochemicals Ltd. (MRPL) in India has instructed crude suppliers to avoid the Strait of Hormuz and the Red Sea in its latest spot tender for up to 1 million barrels of crude. This decision follows recent disruptions in these key oil shipping corridors due to geopolitical tensions, including Houthi attacks in the Red Sea and reduced tanker movements through Hormuz. MRPL's move is unprecedented among Indian refiners and reflects heightened security concerns in the region.

Oil prices fall 1% as investors weigh pause in US strikes on Iran

Oil prices fall 1% as investors weigh pause in US strikes on Iran

By Ishaan Arora July 28 (Reuters) - Oil prices fell 1% on Tuesday as market participants continued to weigh a pause in U.S. strikes on Iran, which has raised hope of a diplomatic solution to their conflict and the normalisation of Middle East energy flows.

Oman presents Iran with Gulf-backed plan for voluntary fees to use Hormuz

Oman presents Iran with Gulf-backed plan for voluntary fees to use Hormuz

By Timour Azhari and Parisa Hafezi DUBAI, July 28 (Reuters) - Oman has presented Iran with a plan backed by Gulf states to manage the Strait of Hormuz, including collecting voluntary fees for using it, a Gulf source and a Western diplomat told Reuters on Tuesday.

Mediators see progress in diplomatic efforts to halt Iran war, 2 regional officials say

Mediators see progress in diplomatic efforts to halt Iran war, 2 regional officials say

Mediators have made progress in efforts to bring the United States and Iran back to negotiations and prevent an all-out war in the Middle East, according to two regional officials

Oil Prices Drop as U.S.-Iran Tensions Ease, Raising Diplomatic Hopes

Oil Prices Drop as U.S.-Iran Tensions Ease, Raising Diplomatic Hopes

Oil prices fell sharply as the United States and Iran refrained from launching new military strikes, raising hopes for a diplomatic resolution to tensions in the Middle East. Brent crude futures dropped by 4.52% to $92.41 a barrel, while U.S. West Texas Intermediate crude fell by 4.81% to $85.01 a barrel. The decline in oil prices follows a period of heightened conflict that had driven prices to their highest levels in months. The pause in hostilities has led to optimism that a diplomatic solution could stabilize the region and restore shipping through the Strait of Hormuz.

Iran will halt attacks as long as US maintains pause, Iranian source says after Trump calls off strikes

Iran will halt attacks as long as US maintains pause, Iranian source says after Trump calls off strikes

By Parisa Hafezi and Raphael Satter DUBAI/WASHINGTON, July 26 (Reuters) - Iran will halt its own attacks as long as the United States maintains its latest pause on air strikes, a senior Iranian official told Reuters on Sunday, after President Donald Trump abruptly called off his two-week-old bombing

Iran says it will halt strikes as long as US bombing pause holds

Iran says it will halt strikes as long as US bombing pause holds

By Parisa Hafezi, Phil Stewart and Raphael Satter DUBAI/WASHINGTON, July 26 (Reuters) - Iran will halt its own attacks as long as the United States does the same, a senior Iranian official told Reuters on Sunday.