Israel proposes $10B oil pipeline to bypass Strait of Hormuz

The post WTI climbs over 2% as Strait of Hormuz attacks revive supply concerns appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) crude Oil edges higher on Tuesday as fresh attacks near the Strait of Hormuz threaten the recovery in shipping seen in recent weeks following the interim US-Iran peace deal. At the time of writing, WTI is trading around $70.44, up about 2.65% on the day. Iran has repeatedly stated that only vessels using its approved route through the Strait of Hormuz are considered safe and must coordinate with the Islamic Revolutionary Guard Corps (IRGC). Three tankers were hit in the Strait of Hormuz over the past 24 hours, according to the United Kingdom Maritime Trade Operations (UKMTO). The incidents have revived some of the geopolitical risk premium in the Oil market. Traders now turn their attention to Wednesday’s US Energy Information Administration (EIA) weekly inventory report. US crude inventories have fallen for ten straight weeks, pointing to a

The post British Pound slips as Hormuz attacks revive USD demand appeared on BitcoinEthereumNews.com. The Pound Sterling (GBP) retreats against the US Dollar (USD) on Tuesday as tensions in the Middle East rise, following reports of attacks on two ships in the Strait of Hormuz. The GBP/USD pair trades at 1.3373, down 0.11%. GBP/USD falls as Oil spike lifts Fed hike worries The Greenback remains steady after the Islamic Revolutionary Guard Corps (IRGC) attacked ships that attempted to pass through the Omani route, ignoring the IRGC’s repeated warnings. These developments underpinned Oil prices and consequently the US Dollar, as high energy prices could force the US Federal Reserve (Fed) to raise interest rates. The US Dollar Index (DXY), which measures the buck’s performance against six currencies, is up 0.05% at 100.93. Data from the US showed that the trade deficit widened in May, driven by a jump in imports and a decline in exports. The Goods and Services Trade Balance deficit came a

The post Israel Opposes Turkey F-35 Sale As Russia Prepares Iran Su-35 Delivery appeared on BitcoinEthereumNews.com. A screen grab captured from a video shows Russian President Vladimir Putin’s plane accompanied by four Su-35 fighter jets equipped with missiles during Putin’s journey to the United Arab Emirates (UAE) on December 6, 2023 in Moscow, Russia. (Photo by Russian Defense Ministry / Handout/Anadolu via Getty Images) Anadolu via Getty Images With indications that President Donald Trump will support lifting the ban on selling F-35 Lightning II stealth strike fighters to Turkey, Israeli Prime Minister Benjamin Netanyahu has predictably expressed opposition. While a delivery of the fifth-generation combat aircraft to Turkey likely isn’t imminent even if swiftly approved, Russia, meanwhile, seems to have made progress in manufacturing the first batch of 4.5-generation Su-35 Flanker fighters Iran ordered years ago. “I don’t think they should be given F-35s or engines for their fight

Iran's control over the Strait of Hormuz and crypto tolls could reshape global maritime norms and intensify regulatory scrutiny on digital assets. The post Iran asserts authority over parts of Strait of Hormuz, raising crypto sanctions questions appeared first on Crypto Briefing.

Iran's control over the Strait of Hormuz could destabilize oil markets, affecting global supply chains and influencing geopolitical dynamics. The post Iran asserts control over parts of Strait of Hormuz amid US talks appeared first on Crypto Briefing.

Iran's actions highlight geopolitical instability, impacting global energy security and potentially reshaping maritime trade with crypto payments. The post Iran’s tanker attacks near Strait of Hormuz expose leadership dilemma and rattle energy markets appeared first on Crypto Briefing.

The post Bitcoin Retraces As Oil Tanker Attacks in Strait of Hormuz Escalate U.S.-Iran Tensions appeared on BitcoinEthereumNews.com. Bitcoin is down today, falling below the psychological $63,000 level after a rally above $64,000 yesterday. The drop below $63,000 today follows attacks on oil tankers in the Strait of Hormuz, a development that further escalates tensions between the U.S. and Iran. Bitcoin Falls Amid Attack On Oil Tankers In Strait of Hormuz In an X post, the UK Military Center revealed an attack on an oil tanker in the Strait of Hormuz, with the tanker sustaining minor structural damage. This marked the second attack on an oil tanker in the Hormuz Strait today. The UK Military earlier reported about an oil tanker that also suffered structural damage. Meanwhile, there have now been attacks on vessels in the Strait in the last 24 hours. Bitcoin has retraced amid this development that again escalates tensions between the U.S. and Iran, with Qatar accusing Iran of being resp

The strikes in the Strait of Hormuz highlight vulnerabilities in global energy supply chains, impacting oil prices and crypto market stability. The post British military reports strikes on three tankers in Strait of Hormuz appeared first on Crypto Briefing.