US threatens fresh Iran strikes
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By Ahmed Tolba, Nafisa Eltahir and Yasmine Ghania CAIRO/DUBAI, July 31 (Reuters) - Oil prices rose on Friday after Iran said it had stopped two vessels seeking to exit the Strait of Hormuz, underscoring concerns over global energy supplies following a drone attack on ships in a Mediterranean Egyptian port this week.
Some experts say the Strait of Hormuz will not return to its pre-war state, so what could the future of this vital shipping lane look like?
A Qatari-flagged tanker carrying liquefied natural gas through the Strait of Hormuz was reportedly struck by a missile Saturday, while US embassies in the region began urging Americans to leave the Middle East.
Recognizing Iran's control over the Strait of Hormuz could set a dangerous precedent, with other countries attempting to claim important waterways, analysts say.
Iran says it targeted U.S. facilities in Kuwait and struck two tankers in the Strait of Hormuz that were under "aerial escort" from the U.S.
The 10 consecutive nights of U.S. airstrikes haven't compelled Tehran to loosen its grip on the strait, through which about a fifth of all crude oil and natural gas traded once passed in peacetime.
As Iran's attacks keep ship traffic through the Strait of Hormuz to a trickle and oil prices surge, Gulf states are planning to invest billions in pipeline alternatives.
Iranian MP calls for closure of the Strait of Hormuz in response to US and Israeli actions. Normal traffic by August 31 at 8.5% YES.
New strikes from the US and Iran continue to put the future of the crucial shipping channel in doubt, but a permanent toll is neither legal nor workable.
The last two days have seen Saudi Arabia join the US in striking militant groups in Iraq, while Egypt has come under fire for the first time with a drone attack at a Mediterranean port, leading its pr