Red Sea
Over four weeks, Russian oil exports rose to 3. 71 million barrels per day. The value of shipments reached nearly its highest level since the start of the invasion.
Large-scale fighting has resumed in Ethiopia between the army and the TPLF. The escalation could draw in Eritrea and threaten key trade routes.
Macron said that the CIA had not warned France about a Russian drone operation. At the same time, he called an attack on Europe plausible.
Brent fell to $105. 73, while WTI fell to $93.05 per barrel. Markets are assessing a possible ceasefire and regional risks.
The East-West oil pipeline was restarted at low capacity after three pumping stations were damaged. Full restoration will take up to 8 weeks.
The leaders of France and the United States discussed a mutual moratorium by Ukraine and Russia on long-range strikes against energy facilities. Macron will present the proposal to Zelenskyy.
Saudi Arabia reported intercepting a Houthi drone near Mecca. The Houthis denied attacking the holy city and named other targets.
The Houthis announced the capture of the Greater and Lesser Hanish Islands in the Red Sea. The offensive increases risks to Saudi exports and oil prices.
UAVs attacked the East-West oil pipeline after being launched from Maysan province. Saudi Arabia postponed its response pending Baghdad's investigation.
American advisers are helping Saudi Arabia coordinate strikes against the Houthis. The US is providing intelligence but is not taking part in the attacks.
The Houthis attacked cities and economic facilities in Saudi Arabia, injuring at least 73 people. They also announced a blockade of vessels in the Red Sea.
Goldman Sachs warned of a global shortage of refining capacity due to wars and strikes on refineries. The forecast for diesel fuel margins has been raised to $63 in the U.S. and $49 in the EU.
The Mokha Port on the Red Sea suspended operations after more than 25 missile strikes killed 7 people. The damage is estimated at $16 million; the port is controlled by the Yemeni government.
Due to the threat of attacks by Yemen's Houthis, Saudi Arabia is cutting oil exports through the Red Sea, and tankers are switching off their tracking systems. Oil shipments through Egypt are increasing, reaching a record 2.17 million barrels per day.
Oil prices rose after Iran's attacks in the Strait of Hormuz. Iran plans to restrict the passage of American vessels through the strategic waterway.
Oil prices fell for a third consecutive day after Iran announced an agreement with Oman regarding the route through the Strait of Hormuz. WTI is trading at around $75, while Brent is above $79 per barrel.
A Shell company vessel capsized and sank off the coast of Yemen after being hit by a shell. All 14 crew members were rescued by the Yemeni coast guard.
Over the past 24 hours, only 14 vessels passed through the Strait of Hormuz, compared to about 120 before the conflict. Shipping companies are seeking alternative routes due to security threats.
Pakistan is exploring the possibility of resuming talks between the US and Iran following China's diplomatic initiatives. The prospects for direct negotiations remain uncertain due to political obstacles.
Pakistan uses ties with the US and Iran to mediate in the war. The country hopes to strengthen its economic position and international authority.
Brent oil price jumped to $100. 14 per barrel after Yemeni Houthi attacks on Saudi vessels in the Red Sea. This threatens to block a key oil export channel from Saudi Arabia.
The US has deployed special forces units and over 150 medics to the Middle East. Fighters are deployed, bombers are on heightened alert due to a possible escalation with Iran.
Indian refineries unloaded more than 2. 3 million barrels of Russian oil per day in June, despite US sanctions. The growth in supplies was facilitated by a reduction in exports from the Persian Gulf and a drop in Urals oil prices.
A tanker was hit by a shell in the Strait of Hormuz off the coast of Oman. UKMTO called on ships to exercise increased caution due to the rise in incidents in the region.
UKMTO reported that two vessels were struck by unknown projectiles off Oman and the UAE. One vessel is drifting and on fire, the crew has been evacuated.
A drone attacked the East-West pipeline, a key route for oil exports to the Red Sea. Saudi Aramco is assessing the damage after the incident on Wednesday.
Russia uses a network of proxy structures to recruit agents and place hundreds of sponsored materials in the Sahel. The goal is geopolitical influence in the region.
Due to the threat of Iranian control, countries in the region are considering expanding their pipeline network. The projects are estimated to cost billions of dollars as a security measure.
The Trump administration is strengthening its troop contingent to pressure Iran. The aircraft carrier USS George H.W. Bush and paratroopers of the 82nd Airborne Division are heading to the region.
Petron Corp. refinery purchased 2.48 million barrels of oil from the Russian Federation due to the blockade of supplies from the Middle East. The country declared an energy emergency.