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2019-06-25 12:55:00

US CAN CLOSE HORMUZ

US CAN CLOSE HORMUZ

REUTERS- U.S. President Donald Trump said on Monday that other countries, including China and Japan, should protect their own oil tankers in the Middle East.

"So why are we protecting the shipping lanes for other countries (many years) for zero compensation," Trump said on Twitter. "All of these countries should be protecting their own ships on what has always been a dangerous journey."

Trump made the comments amid an escalation in tensions with Iran, as Washington has blamed Tehran for attacks on two oil tankers, owned by Japan and Norway, in the Strait of Hormuz and the downing of a U.S. drone off the coast of Iran. Both Washington and Tehran have said they do not want a war.

The United States is expected to unveil new sanctions against Iran on Monday, aimed at further restricting Tehran's resources.

Trump's remarks echo those he has made about the North Atlantic Treaty Organization (NATO). He has called for the alliance's member nations to spend more on defense.

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Earlier:

US CAN CLOSE HORMUZ
2019, June, 24, 12:30:00
OIL PRICE: NEAR $65 YET
Brent crude futures rose 0.7% to $65.66 per barrel, near Friday’s three-week high of $65.76, while U.S. crude futures were up 1.1% at $58.07, standing at its highest in over three weeks.
US CAN CLOSE HORMUZ
2019, June, 24, 12:25:00
COOPERATION IS IMPORTANT
“Today, more than ever, international cooperation is important,” Novak said in a speech at an energy forum in the Russian city of St Petersburg.
US CAN CLOSE HORMUZ
2019, June, 24, 12:20:00
RUSSIA WILL HELP IRAN
Iran and Russia already have a deal whereby Iran sells 100,000 b/d of crude oil to Russia and receives 50% of the value in cash and 50% in equipment.
US CAN CLOSE HORMUZ
2019, June, 21, 10:05:00
THE STRAIT OF HORMUZ IS IMPORTANT
The Strait of Hormuz, located between Oman and Iran, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. The Strait of Hormuz is the world's most important oil chokepoint because of the large volumes of oil that flow through the strait. In 2018, its daily oil flow averaged 21 million barrels per day (b/d), or the equivalent of about 21% of global petroleum liquids consumption.
US CAN CLOSE HORMUZ
2019, June, 18, 17:40:00
IRAN, RUSSIA ENERGY COOPERATION
Iran and Russia have signed a Memorandum of Understanding on oil and gas cooperation which will bolster the two countries’ energy relations.
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2019, June, 18, 17:35:00
OPEC+: GOOD WORK
OPEC and 10 non-OPEC partners, led by Russia, agreed in December to cut a combined 1.2 million b/d of production in the first half of 2019.
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Tags: USA, HORMUZ