US EditionOil Prices Fall Amid Efforts to Open Strait of Hormuz
Canada, Japan, and European allies plan to support reopening the Strait of Hormuz after Iranian actions halted 20% of global oil shipments, raising energy prices sharply.
- On Thursday, Britain, France, Germany, Italy, the Netherlands, Canada and Japan condemned Iranian strikes and expressed readiness to help secure safe passage through the Strait of Hormuz, though no warships or troops have been committed.
- Since Feb. 28, United States and Israeli strikes have halted nearly all traffic through the Strait of Hormuz after attacks on South Pars gas field and damage to Qatar's Ras Laffan liquefied petroleum facility cut 17% of LNG capacity.
- European natural gas surged as much as 20% and Brent hit $119 before easing to $103, while WTI futures for April fell to $94.84.
- Axios reported that the U.S. outlined moves, with Canada, Japan, and European nations offering to join efforts, and Chris Wright said removing sanctions could deliver oil in three to four days.
- The IEA warned it could take six months to restore oil flows, and UBS analyst Giovanni Staunovo said, 'As long as the flow of oil through the Strait of Hormuz remains restricted, the path of least resistance for crude prices remains to upside, in my view.
13 Articles
13 Articles
Oil prices fall amid efforts to open Strait of Hormuz
Oil prices fell over 1% today as the US outlined moves to manage the oil supply crisis, while leading European nations, Japan and Canada offered to join efforts to secure safe passage for ships through the Strait of Hormuz.
United Kingdom, France, Germany, Italy, the Netherlands, Japan, and Canada Will Now Join US to Keep the Strait of Hormuz Open | The Gateway Pundit | by Jim Hᴏft
The leaders of the United Kingdom, France, Germany, Italy, the Netherlands, Japan, and Canada have now signaled they will join the United States in a coalition to secure and keep open the critical Strait of Hormuz, the vital oil chokepoint the bloodthirsty Iranian regime has turned into a terrorist kill zone.
Canada, and allies vow action to restore safe passage through the Strait of Hormuz
Canada and its allies say they are prepared to act to restore safe passage through the Strait of Hormuz, as the key shipping route faces disruption amid the ongoing conflict involving Iran. In a...
[Seoul, London - Joint Report] According to South Korean media, the South Korean Foreign Ministry announced on the 20th that it would join a joint statement by the leaders of seven countries, including Japan, condemning Iran's de facto blockade of the Strait of Hormuz. The leaders of seven countries, including Japan, the UK, France, Germany, and Canada, issued a joint statement on the 19th condemning the blockade of the Strait of Hormuz.
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