The American Times News | Economy, Geopolitics, Calculators

A drone attack on Saudi Arabia’s East-West Oil Pipeline became one of the clearest examples of how the Middle East conflict was turning an energy-transport disruption into a broader global market risk. The September 11 attack temporarily shut the pipeline and disrupted crude flows toward the Red Sea. Brent crude subsequently moved above $108 a barrel, while traders worried that Saudi Arabia was losing an important alternative route at a moment when the Strait of Hormuz was already under severe pressure. But the story has since changed. The pipeline has restarted, Yanbu tanker loading has resumed, and Middle Eastern oil exports have begun recovering. The result is no longer simply a story about a pipeline being offline. It is now a story about how quickly Saudi Arabia can rebuild dependable export capacity while regional security risks remain elevated. September 11: The Attack Saudi authorities said drones struck the East-West Pipeline on September 11 and that the attack originated fro...

A new wave of Houthi missile and drone attacks on southern Saudi Arabia has pushed fragile Middle Eastern energy market closer to another supply shock, with fires reported at energy facilities and at least 73 people wounded. Saudi Arabia said attacks hit civilian and economic sites in Abha, Khamis Mushait, Jazan and Najran, while Energy Ministry said several energy-sector facilities targeted, causing fires and temporary halt in some operations. Houthis claimed responsibility and said they launched dozens of ballistic missiles and drones.Reuters Oil markets responded immediately. Brent crude rose to about $99.46 a barrel Tuesday, while US West Texas Intermediate reached roughly $94.73, both at multi-month highs. Market reaction important because latest Saudi attacks occurring while oil flows through Strait of Hormuz already severely constrained by wider US-Iran confrontation. At same time renewed Houthi attacks threaten Bab el-Mandeb route, creating pressure at two of Middle East's ...

The Middle East conflict has entered a more dangerous phase after the United States and Iran resumed direct military action around the Strait of Hormuz, sending crude oil prices above $90 a barrel and renewing concerns about global energy supplies. The latest escalation came after U.S. forces struck Iranian rocket launchers on Larak Island near the strategic waterway on August 30. Iran subsequently launched missiles toward U.S. positions in Jordan, while the United Arab Emirates said on August 31 that it had intercepted an Iranian drone over its territorial waters. "Reuters"  The immediate market response showed why the confrontation matters well beyond the battlefield. Brent crude rose to around $91 a barrel, while U.S. West Texas Intermediate crude climbed above $86. Reuters reported that Brent gained more than 3.5% after the latest U.S.-Iran confrontation, while AP reported a similar move in early Monday trading. Investors were also selling some equities and pushing bond y...

  The Strait of Hormuz remains largely closed to normal commercial shipping six months into the Iran war, keeping one of the world's most important energy routes at the center of a global economic shock. Yet the market picture on August 26 is more complicated than a simple oil-price surge: renewed Iran-Oman diplomacy has pushed crude prices lower, while shipping remains severely disrupted and investors continue to price the risk of another escalation. Reuters reported Wednesday that Brent crude fell nearly 3% to about $85.95 a barrel as traders responded to renewed hopes that a temporary navigational corridor could be established through the strait. Global stocks also edged higher as lower oil prices reduced immediate concerns about inflation and bond-market pressure. (Reuters) The crucial point is that Hormuz has not been fully reopened . Iran and Oman have discussed a framework for a temporary shipping corridor and joint mine-clearing arrangements, but an operational return to no...

  The Iran-US standoff is increasingly being felt far beyond the battlefield. A severe reduction in commercial traffic through the Strait of Hormuz has disrupted one of the world's most important energy corridors, pushed oil prices toward $95 a barrel and added fresh inflation concerns for governments and central banks. At the same time, global equities have struggled while Bitcoin has taken an unexpectedly strong turn, illustrating how geopolitical risk can affect different parts of the financial system in very different ways. The term “lockdown” needs some qualification. The Strait of Hormuz has not been completely sealed to every vessel. On August 22, Iran granted special permission for several Iraqi oil tankers to transit the waterway, while Reuters reported that overall maritime traffic remained heavily reduced. On August 20, ship-tracking data showed only nine commodity vessels passing through the strait on each of the previous two days. Reuters — Iraqi tankers granted permi...

Renewed Diplomatic Efforts and Regional Mediation Efforts to revive a diplomatic understanding between the United States and Iran have continued alongside renewed maritime confrontations, creating a fragile balance between hopes for de-escalation and fears of a wider regional crisis. Pakistan has remained involved in diplomatic facilitation, while Oman continues to be an important channel for communication between Washington and Tehran. Other regional and international actors have also shown interest in encouraging dialogue as the consequences of the prolonged confrontation become increasingly difficult to contain. Earlier diplomatic efforts created temporary optimism that an arrangement could be reached over the Strait of Hormuz and the wider conflict. However, those expectations weakened as the two sides remained divided over sanctions, maritime restrictions, security guarantees and Iran's demands. By mid-August, the 60-day diplomatic window associated with the earlier agreement ...