A United States submarine torpedoed and sank an Iranian warship in international waters off Sri Lanka’s southern coast on Wednesday, US Defense Secretary Pete Hegseth confirmed, in an incident that has heightened tensions in the Indian Ocean.
The Government of Dubai has confirmed that firefighting teams successfully extinguished the fire that broke out on a huge Kuwaiti oil tanker after an Iranian drone attack off Dubai waters early on Tuesday.
Oil prices extended gains on March 30, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the US-Israel war with Iran in the Middle East.
Russian Foreign Minister Sergei Lavrov on Friday discussed the possibility of a diplomatic settlement in the Iran war with his Iranian counterpart Abbas Araqchi, taking into account the legitimate interests of all countries in the region, reported Reuters citing senior Russian officials.
Global air cargo rates have continued to rise strongly as stakeholders adjust to the dynamic and highly challenging conditions following the military attacks on Iran by the US and Israel, and Iran’s retaliatory strikes on targets in the region, said a report.
TotalEnergies has signed settlement agreements with the US Department of the Interior (DOI) to relinquish its Carolina Long Bay lease (Lease OCS-A 0545) and its New York Bight lease (Lease OCS-A 0538), both awarded in 2022, along with its partners. As a result, TotalEnergies will no longer develop offshore wind projects in the US.
An attack on Iran's southern coast or attempt to blockade Kharg Island, its main oil export hub, will lead to Gulf routes being cut with the laying of sea mines, including floating mines that can be released from the coast, the country's Defence Council said on Monday according to state media.
The air cargo spot rates continues to rise sharply amid the highly volatile, unstable and fast-changing situation in the Middle East. As per WorldACD Market Data reports, there has been some recovery in the air cargo markets since the Iran war, with the average spot rates from Gulf countries up 22%.
Scientists at the University of California have developed a new method to treat blood cancers by reprogramming immune cells directly inside the patient’s body, rather than extracting and processing them in a laboratory, said a report.
The Trump administration waived sanctions on the purchase of Iranian oil at sea for 30 days in its latest attempt to ease oil prices that have been driven up by the Middle East conflict, said media reports. The waiver will bring some 140 million barrels of oil to global markets and help relieve pressure on energy supply.
