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EXPLAINED: 12 | Vintage Vibes

Iran vows to continue strikes in spreading Mideast war

TEHRAN - Iran vowed on Thursday to keep striking the region so long as it remains under attack, as the Middle East war spread to new fronts with Tehran’s Houthi allies attacking Saudi shipping in the Red Sea.

Bangkok Post · Jul 23

Gulf oil producers race to build alternatives to the Strait of Hormuz as oil hits $100

Gulf oil producers are spending billions of dollars on pipelines designed to route crude around the Strait of Hormuz, as Iran's grip on the waterway drags on causing oil prices to hit $100 a barrel for the first time since May.

Euronews · Jul 23

Mideast oil producers step up plans to bypass the Strait of Hormuz

Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz

The Independent UK · Jul 23

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Houthis say they attacked 2 Saudi oil tankers in the Red Sea as US carries out 12th night of strikes

Yemen’s Iran-backed Houthi rebels says they have attacked two Saudi oil tankers in the Red Sea, and the U.S. military said it conducted a 12th night of strikes against Iran as the two countries vie for control of vital shipping lanes

The Independent UK · Jul 23

Hormuz, Red Sea spark a 1,000% war-risk premium shock

War-risk insurance premiums have surged by as much as 1,000% as tensions across the Strait of Hormuz and the Red Sea disrupt shipping. Fresh Houthi attacks and the US-Iran conflict are raising voyage costs, increasing crude import expenses for India and adding fresh uncertainty to global oil markets.

The Economic Times · Jul 23

Cutting off Red Sea oil route may be one crisis too many

The Red Sea conflict has disrupted oil flows, impacting global energy markets. This escalation is now forcing oil tankers to reroute, increasing transit times significantly. Asian refining output has plummeted, and China's recovery faces new challenges. Soaring fuel prices are reducing global oil demand, affecting economic activity. The world faces…

The Economic Times · Jul 23

Rupee likely shielded by RBI intervention as oil surges

The Indian rupee remained largely unchanged on Thursday. Higher oil prices and central bank actions influenced its movement. Global tensions in the Red Sea and strikes on Iran escalated oil prices. These rising energy costs pose a significant risk to India's economy. The rupee's stability depends on continued foreign investment…

The Economic Times · Jul 23

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Iran-US war latest: Oil prices surge above $100 as Trump weighs broader Iran offensive

‘They haven’t received enough pain yet,’ president warns after attacks on ships crossing the Red Sea

The Independent UK · Jul 23

Houthis claim strikes on two Saudi tankers as US attacks on Iran widen

Attacks by Iranian-aligned Houthis in Red Sea follow Trump threats to destroy more Iranian infrastructure

The Guardian - AU · Jul 23

UN chief says Middle East conflict is at the 'edge of the imaginable'

Ongoing conflict in the Middle East has pushed the region to the "edge of the unimaginable", UN Secretary-General Antonio Guterres warned on Thursday, as Houthi attacks on shipping in the Red Sea threatened to escalate the conflict further. President Donald Trump said the US would hold Iran responsible for these…

France 24 · Jul 23

Oil Price Today (July 23): Crude oil crosses $95 as US strikes enter 12th day. Why Goldman says $120 is possible?

Brent crude futures rose $1.93, or 2%, to $96 a barrel, their highest level since June 8. The benchmark had ended the previous session more than $3 higher at $94.07, just below a six-week high. U.S. West Texas Intermediate crude gained $1.44, or 1.7%, to $88.27 after advancing nearly 3%…

The Economic Times · Jul 23

Oil prices rise to six-week high as US-Iran tensions escalate

Oil prices climbed to a six-week high on Thursday. This surge followed new United States strikes on Iran and Houthi attacks. Iran's Revolutionary Guards reported an oil tanker caught fire near the Strait of Hormuz. The Houthis also threatened vessels carrying Saudi oil in the Red Sea. These events threaten…

The Economic Times · Jul 23

Global Market Today: Asian shares rise as chipmakers gain, oil climbs

Asian shares advanced as regional chipmakers gained on artificial intelligence buildout expectations. Oil extended its rally after Houthi militants targeted Saudi Arabian tankers in the Red Sea. Alphabet Inc. raised its capital spending significantly, impacting US equity futures negatively. Investors are scrutinizing megacap earnings for AI return on investment signs.…

The Economic Times · Jul 23

Houthis claim attacks on Saudi tankers in Red Sea, raising risk of new chokepoint in Iran war

Houthi militants claimed strikes on two Saudi oil tankers, raising Red Sea shipping risks. The United States launched new strikes on Iran, marking a twelfth successive night of attacks. These actions threaten global oil supplies and increase regional conflict potential. Iran warned of targeting economic infrastructure if its own infrastructure…

The Economic Times · Jul 23

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The Guardian - AU · Jul 22

Middle East crisis is ‘getting out of control’, UN chief warns – as it happened

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The Economic Times · Jul 22

More tankers turn back as Houthi threat rattles Red Sea oil trade

Houthi militia warnings are causing tankers to change course in the Red Sea. Two vessels altered their destinations to the Suez Canal after the blockade declaration. European Union naval forces advised ships to avoid voyages through the Red Sea. This situation raises concerns for global energy supplies and international trade…

International Business Times · Jul 22

Houthi Rebels Declared a Maritime Embargo Of Saudi Arabia. Tankers Are Already Turning Around In The Red Sea

Tankers carrying Saudi crude through the Red Sea turned around after the Houthi rebels announced a maritime embargo of the country.

Bangkok Post · Jul 22

Oil at 6-week high as war intensifies

Oil prices rose to their highest in almost six weeks on Wednesday, with Brent crude surpassing $95 a barrel, on mounting concerns about disruptions to Middle Eastern supply routes because of escalating hostilities between the US and Iran and threats to shipping by ⁠the Iran-backed Houthi militia in Yemen.

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The Independent UK · Jul 22

U.S. and Pakistan condemn Houthi Red Sea threats to shipping and Saudi Arabia

The United States and Pakistan have rejected threats by Yemen’s Houthi rebels against Saudi Arabia and shipping in the Red Sea

The Economic Times · Jul 22

Brent crude surges 4% to over $95 a barrel, nears 6-week high as conflict threatens key oil transit routes

Oil prices hit a six-week high on Wednesday, with Brent crude racing past ninety-five dollars a barrel. The growing tensions between the U.S. and Iran have sparked fears of supply disruptions affecting critical shipping lanes. Moreover, threats from the Houthi militia are hindering oil tanker operations in the Red Sea,…

The Economic Times · Jul 22

Trouble is brewing at Middle East's two key chokepoints

Shipping disruptions are emerging in key Middle East oil transit routes. Concerns are rising as vessels alter voyages due to security risks. The Strait of Hormuz and Red Sea are experiencing reduced vessel traffic. Houthi rebels have threatened a full blockade on Saudi Arabian ports. Despite risks, Saudi oil exports…

The Economic Times · Jul 22

Houthi Red Sea threat would challenge a stretched US military

The Houthis' threats to block Saudi ports signify a troubling development in the Iran war, potentially raising US military commitments in the region. With a history of withstanding coalition bombings, the Houthis may challenge military resources further, necessitating a redirection of naval support, which could lead to reduced US firepower…

The Economic Times · Jul 22

Hormuz vessel crossings fall further as security concerns linger

The ongoing security issues have caused a notable drop in vessel traffic in the Strait of Hormuz, with just three commodity vessels transiting on Tuesday compared to more the previous day. In a related development, two oil tankers re-routed through the Red Sea following threats from the Iran-aligned Houthis of…

The Economic Times · Jul 22

Gold nears two-week high as Fed outlook, Middle East conflict stay in focus

Gold prices climbed to a two-week high amid technical buying and Middle East tensions. Investors await the Federal Reserve meeting for interest rate outlook clues. Oil prices rose over one percent due to shipping disruptions in the Red Sea. Iran's interior minister visited Pakistan seeking continued mediation efforts. Other precious…

The Economic Times · Jul 22

Fresh US-Iran strikes overshadow Pakistan's bid to revive collapsed ceasefire

Tensions between the United States and Iran intensified over the Strait of Hormuz. Pakistan's diplomatic efforts to revive a ceasefire deal faced significant challenges. U.S. President Donald Trump expressed no interest in immediate talks with Iran. Iran-backed rebels opened a new front in the Red Sea, impacting oil supplies. Both…

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