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07.08.26 - 04:36
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Oil prices rise 1% as Middle East conflict continues Hormuz shipping disruption (Times of India)
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On Friday, oil prices experienced a modest rise amid shipping uncertainties in the Strait of Hormuz. Traders exhibit caution regarding transit through this critical route. Meanwhile, US President Donald Trump hinted at a potential resolution to the ongoing conflict. Additionally, Iran and Oman are exploring new transit options for the waterway. As developments unfolded, market trends reversed previous declines....
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06.08.26 - 23:42
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RXO CEO on Earnings Beat, Freight Market Outlook (Bloomberg)
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RXO, a leading freight broker, reported second quarter results showing a 25% increase in revenue and adjusted EPS exceeding analyst estimates by 6 cents. CEO Drew Wilkerson highlighted that the company is in the early stages of a freight recovery, driven by a significant rise in spot rates that currently outperform contract rates. He speaks with Romaine Bostick on "The Close." (Source: Bloomberg)...
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06.08.26 - 15:48
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Yemen War Reignites As Houthis Intensify Saudi Shipping Attacks, Ground Assault, With Hormuz Deal ′Close′ (ZeroHedge)
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Yemen War Reignites As Houthis Intensify Saudi Shipping Attacks, Ground Assault, With Hormuz Deal 'Close'
Yesterday witnessed at least the eighth Saudi oil tanker attacked by the Houthis since the maritime blockade began on July 22, which is being followed by reports the Yemeni rebel group backed by Iran could be preparing for all-out war with Saudi Arabia.
The group struck two Saudi oil tankers in the Red Sea on Wednesday and coupled the action with a threat to intensify attacks in order to close "all access routes" to Saudi oil shipments. Military spokesman Brig. Gen. Yahya Saree confirmed that ballistic missiles were launched at a Saudi tanker called Wafa near the Saudi port city of Yanbu.
A second oil tanker identified as Daisy was subsequently hit in the Gulf of Aden with a ballistic missile and "forced to turn back" - the spokesman said in a social media post. The Houthis are dubbing it a "blockade for blockade" strategy.
via AFP
But it seems the Saudis ...
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