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Iran rejects idea of using its assets to pay damages to US allies
Iran rejects idea of using its assets to pay damages to US allies Iran's Deputy Foreign Minister Kazem Gharibabadi said on Sunday (Jun 7) that regional governments were "not in a position to demand reparations", responding to what he said were reports that the US could use Iranian assets to compensate regional allies for war-related damages. Gharibabadi added in a post on X that Iran's assets were "neither war spoils for Washington nor a payment fund for its allies". Reuters reported on...
OPEC+ approves fourth oil output quota hike since Hormuz closure
OPEC+ approves fourth oil output quota hike since Hormuz closure On Sunday, the seven members decided to increase targets by 188,000 bpd from July, OPEC said in a statement. LONDON: OPEC+ agreed on Sunday (Jun 7) a fourth increase in its oil output targets in as many months, even though the US war with Iran is still preventing several of the group's members from pumping more. The war has cut oil flows via the Strait of Hormuz, creating the world's biggest-ever supply crisis as key OPEC+...
Iran war: Even a peace deal won't fix energy crunch
Iran war: Even a peace deal won't fix energy crunch June 4, 2026As the Iran war approaches 100 days on Sunday, a comforting but flawed assumption has taken hold. Many policymakers, businesses and investors believe that a rapid reopening of the Strait of Hormuz will quickly bring down energy prices, once stranded oil and gas tankers can finally leave the Gulf. Yet top oil executives, shipping sector leaders and economists are predicting the opposite.
Iran rejects idea of using its assets to pay damages to US allies
Iran rejects idea of using its assets to pay damages to US allies During the war, Iran launched missile and drone attacks on several Gulf countries, saying it was targeting US and Israeli interests in the region. Iran's Deputy Foreign Minister Kazem Gharibabadi said on Sunday (Jun 7) that regional governments were "not in a position to demand reparations", responding to what he said were reports that the US could use Iranian assets to compensate regional allies for war-related damages....
OPEC+ approves fourth oil output quota hike since Hormuz closure
OPEC+ approves fourth oil output quota hike since Hormuz closure On Sunday, the seven members decided to increase targets by 188,000 barrels per day from July, OPEC said in a statement. LONDON: OPEC+ agreed on Sunday (Jun 7) a fourth increase in its oil output targets in as many months, even though the US war with Iran is still preventing several of the group's members from pumping more. The war has cut oil flows via the Strait of Hormuz, creating the world's biggest-ever supply crisis as...
Oil choppy after U.S. completes Iran strikes following Apache helicopter attack
Oil prices rose on Wednesday after the U.S. launched military strikes against Iran, raising concerns that renewed hostilities could threaten shipping through the Strait of Hormuz. U.S. crude oil futures for July delivery added 0.74% to $88.89 per barrel, paring gains after jumping over 1%. Brent futures, the international benchmark, for August delivery, rose 0.82% to $92.20 per barrel.