Iran has released seven crew members from detained British-flagged oil tanker Stena Impero and they have flown out of Iran, according to the ship's owner.
Oil fell for a fourth day, set for the longest run of declines in more than five weeks, after the latest escalation in the trade war blindsided investors and worsened an already-shaky global demand outlook.
The Iranian supertanker detained last month on suspicion of hauling oil to Syria in violation of European sanctions set sail from Gibraltar waters after being released by the British territory and is now signaling Greece as its next destination.
The U.S. is gravely disappointed with the U.K. after a Gibraltar court allowed the release of an Iranian tanker suspected of hauling oil to Syria, and threatened sanctions against ports, banks and anyone else who does business with the ship or its crew, two administration officials said.
The energy-rich Central Asian nation of Turkmenistan is hosting an economic forum intended to bolster co-operation between Caspian Sea nations.
The owner of a British tanker seized by Iran in the Strait of Hormuz earlier this month raised concerns about the safety of the crew still on board.
Iran has warned it will protect its waters after the UK set out plans to put together a European maritime force to defend shipping in the Strait of Hormuz.
Britain is to seek to put together a European-led maritime mission to protect ships sailing through the Strait of Hormuz following the seizure by Iran of a British-flagged tanker.
Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world’s biggest buyer.
The Government said it remains "deeply concerned" by the "unacceptable" seizure of a British-flagged oil tanker by Iranian authorities in the Persian Gulf.
President Donald Trump said the U.S. “immediately destroyed” an Iranian drone that approached the USS Boxer near the Strait of Hormuz, though officials in Tehran denied losing one.
Iran's state TV is reporting that the country's paramilitary Revolutionary Guard forces have seized a foreign oil tanker accused of smuggling oil.
Jeremy Hunt is to launch a fresh diplomatic bid to prevent the Iran nuclear deal unravelling and to ease tensions in the Gulf.
The U.K. is in talks with the U.S. and other allies about beefing up their military presence in the Persian Gulf to deal with the rising threat to shipping posed by Iran.
The British navy intervened to stop Iran from blocking a commercial oil tanker leaving the Persian Gulf, heightening friction just as European nations scramble to salvage a landmark nuclear accord with the Islamic Republic.
An oil tanker run by BP Plc is being kept inside the Persian Gulf in fear it could be seized by Iran in a tit-for-tat response to the arrest by Gibraltar last week of a vessel hauling the Islamic Republic’s crude.
British special forces seized a supertanker off Gibraltar carrying Iranian oil to Syria in violation of European and U.S. sanctions against the war-torn country.
An oil tanker thought to be carrying Iranian oil to Syria has been detained by Royal Marines in Gibraltar.
The North Sea oil industry must keep a lid on costs if measures taken by Opec and its allies push crude prices much higher, top Aberdeen energy experts have said.
Uncertainty relating to Iran and the US-China trade war has led volatile oil prices and the postponement of a key OPEC meeting. The recent exchange of words between US and Iranian leaders has not calmed markets.
Crude kept rising following its biggest weekly gain since late 2016 after PresidentDonald Trump said he would impose “major additional sanctions” on Iran, exacerbating tensions in the oil-rich Middle East.
Oil in London headed for its biggest weekly gain since February as escalating tensions between the U.S. and Iran fanned fears of conflict that would disrupt energy supplies from the Middle East.
OPEC proposed mid-July meetings with its allies in Vienna to discuss extending production cuts, after talks between Russia and Iran made some progress toward resolving a standoff over the date.
The Strait of Hormuz has become a key battleground in the stand-off between the United States and Iran, with claims and counter-claims on either side of an argument ostensibly about oil.
Foreign Secretary Jeremy Hunt has warned of the "great risk" of a drift to war with Iran following the attacks last week in the Gulf on two oil tankers.