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“A recent surge in attacks on oil tankers in and around the Strait of Hormuz, alongside renewed conflict between the Iran-backed Houthis and Saudi Arabia in the Red Sea, is stoking concerns in the industry about crucial shipping lanes.”

“Those gains gave the rebels better surveillance of shipping on a corridor that is a crucial alternative to the Strait of Hormuz, where Iran has been attacking ships.”

“The prospect of Iran or Oman imposing a toll on shipping through the Strait of Hormuz in the future, and the increased use of alternative pipeline infrastructure to bypass the strait, would also add to the cost of oil and LNG, keeping upward pressure on…”

“…re, the documents also talk about supporting construction of new pipelines to bypass the Strait of Hormuz, which would allow it to keep buying crude from, say, the United Arab Emirates and Saudi Arabia without having to worry as much about instability in…”

“…opes appeared to weaken as traders pushed prices higher to $US106 ($151) a barrel on Monday following reports that Iran is refusing to budge on certain conditions it is seeking before agreeing to reopen the Strait of Hormuz, a critical oil and gas shipping…”

“Oil prices could resume their rally this week as US President Donald Trump over the weekend sent mixed signals about his willingness to reach a peace deal with Iran.”

“The British government gave authorisation to the US to use RAF Fairford to carry out strikes on Iranian missile sites that are attacking ships in the Strait of Hormuz.”

“Although some alerts had been issued in Riyadh this year after the start of the US-Iran war, these were the first since the escalation with the Houthis began in July.”