Tanker hit by unidentified projectile in Hormuz as 100 million barrels of diesel released
The UK Maritime Trade Operations (UKMTO) said on Friday that an oil tanker was struck by an unidentified projectile as it left the Strait of Hormuz. CNN Arabic reported a power outage on board, while Sky News Arabia said a fire broke out and was later put out, allowing the vessel to continue its voyage. The International Energy Agency said oil prices began to fall after the decision to release 100 million barrels.
Why it matters A large share of Gulf oil exports passes through the Strait of Hormuz, so any attack on shipping there quickly raises concerns about supply and prices. The stock release suggests an effort to contain the impact of the tension on markets.
G7 plans to release 100 million barrels of oil and diesel after Trump export ban threat
The Group of Seven plans to release 100 million barrels of oil and diesel onto the market, following President Donald Trump's threat to ban diesel exports, according to BBC Arabic. The coordinated release is meant to head off further sharp price rises and avert a ban on US diesel exports.
Tanker hit by projectile in Hormuz as Trump hints at possible strike on Iran
BBC Arabic reported that a tanker was struck by a projectile in the Strait of Hormuz. Separately, US President Donald Trump told reporters at the White House he believes Iran was involved in the flydubai incident, saying his answer was yes based on what he is hearing and that his administration is still working on the matter. He also suggested a possible strike on Iran if its involvement is established.
