Oil, Iran and Strait of Hormuz
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Two oil tankers were struck overnight in the Gulf as Iran intensified its attacks on foreign ships across the region.
The tanker ship 'Shenlong' that arrived near Mumbai Port bore Liberia's flag and was captained by an Indian sailor.
An oil tanker seized by the United States for carrying Venezuelan oil is set to transfer the crude to a smaller vessel off the coast of Texas that can take it to shore, ship tracking data showed on Wednesday.
A ship hauling a million barrels of Saudi crude sailed through the Strait of Hormuz in recent days, one of the first large oil tankers to leave the Persian Gulf since traffic through the vital chokepoint all but halted.
Oil prices have surged dramatically in early 2026, driven by the escalating Iran conflict and fears of Strait of Hormuz disruption. Crude oil surged over the weekend before settling near $84 per barrel at 5:00 p.
President Trump says India will stop buying sanctioned Russian oil in trade deal, but data shows shadow fleet vessels on the move evading global enforcement.
The vessel, which sails under the Liberian flag and was loaded with crude oil, had departed from the Saudi port of Ras Tanura on March 1.