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Malaysia's Prime Minister Anwar Ibrahim said on Thursday he had spoken to the leaders of Iran, Egypt, Turkey and other regional countries and said Malaysian vessels were now being allowed to pass through the Strait of Hormuz.Anwar in a televised address thanked Iran's president for allowing the passage of Malaysian ships."We are now in the process of releasing the Malaysian oil tankers and the workers involved so that they may continue their journey home," he said.Anwar said he talked with Iran and other countries as part of efforts to facilitate peace in the Middle East.

A marine drone struck a Turkish crude oil tanker that had departed Russia, causing an explosion in the Black Sea near Istanbul's Bosphorus strait on Thursday, Turkey's transportation minister said.The incident, one of several in recent months involving Western-sanctioned vessels heading to or from Russian ports, occurred in the early hours, minister Abdulkadir Uraloglu told broadcaster Kanal 24.All 27 crew were safe, he said, adding that the coastguard had been dispatched to the vessel, the Altura, which was about 18 nautical miles (33 km) from the Bosphorus, a key commodities-shipping channel linking the Black Sea with the Marmara and Mediterranean.

Italian shipbuilder Fincantieri reported a more than fourfold jump in its annual profit to 117 million euros ($136 million) on Wednesday, boosted by the underwater business line that saw 88% revenue growth.Shares of the Trieste-based company gained up to 7.5% shortly after the results.The state‑controlled shipbuilder reiterated its 2026 targets for revenue of 9.2 billion to 9.3 billion euros, a core profit (EBITDA) margin of around 7.5%, and an increased net profit."We are preparing to capture further growth in demand in the defense sector, by doubling the production capacity of Italian shipyards," CEO Pierroberto Folgiero said.

At first glance, the Iran war appears to be hitting oil and gas with equal force, as missiles, drone strikes and shipping disruptions choke flows through the Strait of Hormuz.But beneath that surface symmetry lies a critical imbalance. The global gas supply chain has fewer rerouting options and less storage capacity than the oil market - making the fallout for gas consumers considerably more acute.Key gas infrastructure - liquefaction plants in particular - is more complex and expensive to build and repair than the oil equivalent. That means oil refineries can often resume operations more quickly than liquefied natural gas export hubs after a shutdown.

Bahrain has put forward a draft U.N. Security Council resolution that would authorise countries to use "all necessary means" - diplomatic language for force - to protect commercial shipping in and around the Strait of Hormuz, according to a text seen by Reuters on Monday.Diplomats said the draft text was backed by other Gulf Arab states and the United States, although they said it was unlikely to get through the council, where Russia and China had veto power.France circulated a more conciliatory alternative draft resolution, seen by Reuters, on Monday evening.