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Iran's Islamic Revolutionary Guard Corps has threatened to close "all other export corridors that benefit the U.S. and its allies", Iranian media reported, after Iran shut the Strait of Hormuz and the U.S. reimposed a naval blockade of Iranian ports."Regional energy exports are either shared by all, or denied to all," the IRGC said in a statement carried by Iran's IRNA state news agency on Wednesday.Analysts have said Iran has been signalling it may use its Houthi allies in Yemen to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most vital energy arteries at risk.

Iranian Missiles Hit Two UAE Oil Tankers, One Person Dead

3 days ago

One Indian crew member was killed and eight others were wounded when two Emirati oil tankers were struck by Iranian cruise missiles in the Strait of Hormuz, the United Arab Emirates Ministry of Defence said on Tuesday, in the latest escalation in the strategic waterway.Abu Dhabi National Oil Company's shipping arm ADNOC L&S later confirmed the very large crude carriers (VLCCs) Mombasa B and Al Bahiyah were struck while transiting Hormuz and had sustained "significant damage".UAE state oil giant ADNOC has been among the most active participants in a U.S.

Kongsberg Maritime to Acquire Berg Propulsion

3 days ago

Norwegian maritime technology company Kongsberg Maritime has agreed to acquire Swedish propulsion specialist Berg Propulsion in a move aimed at expanding its marine propulsion portfolio and strengthening its position across a wider range of vessel segments.Financial terms of the transaction were not disclosed, although Kongsberg Maritime said the acquisition was priced at approximately the same enterprise value-to-EBITDA multiple as its own current market valuation.The transaction remains subject to customary regulatory approvals and other closing conditions.

US-Iran Attacks Escalation Chokes Hormuz Shipping

an hour ago

Just three commodity vessels crossed the Strait of Hormuz on Thursday, the fewest daily transits since May, shipping data showed, with most ships halting or making U-turns after recent Iranian attacks on vessels and the resumption of a U.S. blockade on Iran-related shipping.The re-escalation in fighting between the U.S. and Iran has once again largely stopped traffic through Hormuz, the world's most important shipping route for oil and gas, driving up global energy prices.Miraan, a sanctioned product tanker carrying fuel oil, and Norita, a small vessel carrying liquefied petroleum gas, exited the strait on Thursday via the Iranian route but stopped at the Gulf of Oman, where the U.S.

Oil Prices Dip Slightly Amidst Continued Middle East Tensions

15 hours ago

Oil prices edged lower on Thursday but held near the highest since mid-June as the Iran war escalated, with Tehran asking Yemen's Houthi movementto be prepared to close the Red Sea oil export route.Brent crude futures were down 19 cents, or 0.2%, to $84.76 a barrel by 11:25 a.m. EDT. U.S. West Texas Intermediate futures were down 17 cents, or 0.2%, to $79.43 a barrel. At their session highs, both contracts were up more than 1%.On Wednesday, Brent futures settled at their highest since June 12, and WTI at the highest since June 15.Iran has asked the Houthis to stand ready to close the Red Sea oil route if the U.S. strikes Iranian power infrastructure, three sources told Reuters. This week, U.

Maritime Reporter and Engineering News (June 2026)