Iran Keeps Up Pressure On Oil Infrastructure As Concerns Of Global Energy Crisis Grow
A projectile has hit a cargo ship in the Strait of Hormuz, setting the vessel ablaze and forcing the crew to abandon the vessel, the British military said.
The International Energy Agency said Wednesday that member countries will release 400 million barrels of oil to alleviate price pressures from the war in Iran.
A projectile has hit a cargo ship in the Strait of Hormuz, setting the vessel ablaze and forcing the crew to abandon the vessel, the British military said.
Members of the International Energy Agency have announced a coordinated release of 400 million barrels of stockpiled oil in an attempt to counter the disruption in oil trade triggered by the Iran war.
"The oil market challenges we are facing are unprecedented in scale," IEA Executive Director Fatih Birol said Wednesday.
The US Navy escorted an oil tanker through the Strait of Hormuz, in a first step toward the administration’s efforts to unblock millions of barrels of Middle East oil trapped inside the Persian Gulf.
The conflict in the Middle East is having significant impacts'
President Donald Trump has ordered the release of 172 MILLION barrels of oil from the United States’ Strategic Petroleum Reserve (SPR) to combat record-high energy prices triggered by the ongoing war with Iran. The post President Trump Orders MASSIVE 172 MILLION Barrel Oil Release from Strategic Petroleum Reserve to Crush Energy Prices appeared first on…