Hormuz and Red Sea shipping, oil and gas, aviation, and market moves.
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Seven core OPEC+ members, including Saudi Arabia and Russia, agreed at an online meeting on Sunday to keep October production at September levels, pausing after six straight monthly increases; their next meeting is Oct. 4.
Iran's Revolutionary Guards said their navy attacked a U.S. unmanned surface vessel that was trying to enter what Iran calls the protected area of the Strait of Hormuz, without giving details of damage or location. CENTCOM spokesman Capt. Tim Hawkins told AP the claim was "a total lie."
Iran's Revolutionary Guards said their navy targeted three oil tankers using what Iran calls an unauthorized route through the Strait of Hormuz and three vessels affiliated with the United States elsewhere, and warned other ships to avoid unapproved routes. The Guards also said the U.S. carrier and destroyer they fired missiles at were damaged; CENTCOM said both evaded the attack, and the U.S. did not confirm any of the claimed hits.
Brent crude futures rose $1.66, or 1.7%, to $97.29 a barrel by 12:00 GMT on Sept. 3, touching six-week highs, while U.S. WTI rose 2.2% to $93.04, Reuters reported. Reuters tied the rise to new U.S. strikes on Iran and renewed Israeli threats against Tehran.
Only six commodity vessels, two very large gas carriers and four tankers, transited the Strait of Hormuz on Wednesday, Sept. 2, down from 11 the day before and below a 10-day average of about 13, according to Kpler data cited by Reuters. Counts can rise later because some ships switch off their transponders.
Iran's Persian Gulf Strait Authority added 11 vessels to its list of ships it deems non-compliant and subject to fines, confiscation or detention in the Strait of Hormuz, bringing the total to 56, Reuters reported. The list includes crude, LNG and LPG tankers, and the authority said any vessel cooperating with listed ships would be added.
Iran's Revolutionary Guard said two oil tankers that took an 'illegal route' through the Strait of Hormuz struck mines and were left burning after their crews disembarked, without naming the ships. CENTCOM said 'No ships have hit mines in the Strait of Hormuz,' calling the claim an IRGC attempt to intimidate shipping through disinformation.
Energy Secretary Chris Wright told CNBC that more than 17 million barrels of oil transited the Strait of Hormuz on Aug. 31, a wartime record against about 20 million barrels a day before the war, and said Iran is 'losing that card.' CNBC noted that US government figures are higher than those reported by independent ship trackers.
Brent was up 0.87% at $95.47 a barrel and WTI up 0.55% at $90.72 early on Sept. 2, extending a 4.6% surge the previous day after the US strikes on Iran and Iran's retaliation. Kpler data showed about five vessels, excluding container ships, crossed Hormuz on Sept. 1, against 23 a week earlier.
By 9:10 a.m. EDT on Sept. 1, ICE Brent for November was up 2.43% at $92.72 a barrel and NYMEX WTI up 2.86% at $88.19, after two tankers carrying Saudi crude were hit in the Strait of Hormuz the previous evening. Prices rose further after the US strikes on Iran, with Brent just below $96 at 10 p.m. ET.
UKMTO said a tanker completing an outbound transit of the Strait of Hormuz was struck by three unknown projectiles about 17 nautical miles east of Khasab, Oman, with the attack reported at 20:00 UTC on Aug 31. No casualties or damage were reported.
Saudi shipping company Bahri said its crude tanker Sidr was attacked while transiting the Strait of Hormuz late on Aug. 31, killing two Filipino seafarers, and Saudi Arabia's Foreign Ministry condemned Iran for targeting the vessel. Iranian media had first reported a Saudi tanker 'stopped' in the southern corridor, and a second crude tanker, the Senegal Prosperity, was struck on the same route that evening.
Iran's IRGC Navy said a "rogue supertanker" using what it called the illegal southern route through the Strait of Hormuz struck two naval mines, caught fire and was brought to a complete stop; it did not name the ship. CENTCOM said the claim was false and "no ships have hit mines in the Strait of Hormuz", and UKMTO did not corroborate it.
Brent futures climbed above $90 a barrel in early Asian trading on Monday, up about 2.5% at $90.32, after the US strike on Larak Island and Iran's retaliation on Jordan, and settled the day up 2.7% above $90, AP reported. US crude rose about 3.5% and the Dow fell 374 points.
UKMTO said a tanker transiting inbound through the Strait of Hormuz was struck by an unknown projectile about 12 nautical miles north of Khasab, Oman, at 20:53 UTC on Aug 29, in a report it received late. No casualties or environmental impact were reported and no one claimed responsibility.
In a state television interview, President Masoud Pezeshkian said 'the route is now blocked and goods are not coming in. One of those goods is gasoline', and that the government wants to raise the third-tier price for fuel bought beyond subsidised quotas from 5,000 to 10,000 tomans, with timing still to be agreed with parliament and the judiciary.
In a statement carried by the IRGC-affiliated Tasnim news agency on Friday, the Revolutionary Guards Navy said U.S. statements that the strait had reopened were 'an obvious lie' aimed at controlling oil prices, called its control of the waterway 'completely decisive', and said passage stays closed 'with full force' to ships without Iranian approval.
About 6 million to 8 million barrels a day of crude are now moving through the Strait of Hormuz, roughly half prewar levels, according to trader estimates reported by Bloomberg. Trump said 24 tankers crossed overnight with U.S. military help and that U.S. forces had "taken out two" mine-laying boats; Brent rose about 0.5% to $87.36.
Vice President Mohammad Jafar Ghaempanah said "petrol production is insufficient, and because of the U.S. naval blockade, we cannot import it," IRNA reported, as Iranians queued at gas stations after the new U.S. sanctions; he also criticized fuel subsidies that favor owners of several vehicles.
Preliminary Kpler data showed five commodity vessels transited the Strait of Hormuz on Aug 25, against a 10-day average of 15 and four on Aug 24: two LPG tankers and a bitumen tanker left the Gulf and two empty product tankers entered. Before the war more than 100 vessels crossed daily, Al Jazeera noted.
Brent crude fell 3.8% to $87.14 a barrel by midday Tuesday, heading for a second daily decline after 13 gains in 14 days despite the new U.S. sanctions on Iran, AP reported; it had traded at $90.04 early in the day.
AP via CBS News live updates, AP via CBS News live updates (2)
Local authorities reported a tanker was hit by an unknown projectile near Khasab at the entrance to the Strait of Hormuz, starting a fire that was put out; the crew were safe and there was no pollution, UKMTO said in warning 121-26, issued on Aug 27.
The International Maritime Organization said at least 20 seafarers and port workers were killed, 35 wounded and one is missing in 68 confirmed maritime incidents in the Gulf and nearby waters over six months of war; UKMTO classed 47 of them as attacks, and about half involved tankers.
The master of an oil tanker reported it was struck by an unknown projectile 9 nautical miles northeast of Ash Shishah, Oman, damaging the engine room and disabling the vessel; the crew were safe, UKMTO said in warning 120-26. Gulf News, citing open-source analysis, identified the ship as the Liberia-flagged Metro Venetian, which later reached Fujairah under its own power.
A tanker was struck by an unknown projectile 63 nautical miles west of Yanbu in the northern Red Sea, starting a fire on its main deck, UKMTO said; all crew were safe and no pollution was reported. Houthi military spokesman Yahya Saree later said the group hit the Saudi oil tanker Amzan with a ballistic missile.
Institute for the Study of War, UKMTO Warning 119-26 +2 more
Iran's Persian Gulf Strait Authority said vessels that violate 'Iranian protocols for the Strait of Hormuz shall face restrictions on future passages, including fines, detention, or confiscation,' and urged cargo owners to check its 'Non-Compliant Vessels' list before chartering ships.
The parliament's National Security and Foreign Policy Commission approved Article 3 of its 'Strategic Action to Ensure the Security and Progress of the Strait of Hormuz' plan, under which ships from countries permitted to transit would pay for maritime, environmental, fuelling, insurance, safety and other services. Spokesman Hassan Qashqavi said fees would be paid in rials or another currency Tehran designates.
Iran granted a number of Iraqi oil tankers permission to transit the Strait of Hormuz, IRNA said, describing it as one of Baghdad's main requests during parliament speaker Ghalibaf's visit to Iraq. Neither government said how many ships passed or on what terms.
Brent crude rose 2.4 percent to almost $94 a barrel early Thursday, its highest since late July, and WTI rose 2.5 percent to $86, after Trump promised a 'crushing economic operation' against Iran and penalties for countries doing business with it.
UKMTO said an unknown projectile struck a vessel making an outbound transit of the Strait of Hormuz, damaging its engine room and causing a crew casualty, with the Omani coast guard assisting the rest of the crew. The International Maritime Organization lists the ship as the Minoan Dignity and records one seafarer killed and no pollution.