Latest news with #IranRevolutionaryGuard
The National
5 hours ago
- Business
- The National
About 20 million bpd of crude in focus amid Israel and Iran tensions
About 20 million barrels per day of oil and refined products could be affected if shipping operations are disrupted along the Strait of Hormuz amid the continued tensions between Israel and Iran, according to analysts. The Strait of Hormuz is a narrow water channel in the Arabian Gulf between Iran and Oman, where oil tankers carry large volumes of oil and refined products to different destinations from Gulf producers as well as from Iran and Iraq. Iran in the past has threatened to close the strait for maritime traffic in retaliation for western pressure. Any closure could impact trade and oil supplies flowing to global markets. 'The Strait of Hormuz remains the critical chokepoint,' Jorge Leon, head of geopolitical analysis at Rystad Energy, said. 'Around 12 million barrels per day of crude oil pass through the strait, over 80 per cent of it bound for Asia. Including refined products, the total volume can reach up to 20 million barrels per day.' While Saudi Arabia and the UAE have spare pipeline capacity to bypass the strait, it is limited, he said. Saudi Arabia's East-West pipeline and the UAE's Habshan-Fujairah pipeline together can handle around half of the flow, he added. 'The strait is jointly controlled with Oman, and past tactics have included seizing or harassing tankers by jamming their GPS signals to draw them into Iranian waters. This increases the risks of navigating the route.' Last year, Iran 's Revolutionary Guard seized a container ship with links to Israel in the Strait of Hormuz. Tensions across the Middle East rose on Friday after Israel launched a wave of strikes across Iran, killing senior military officials and hitting key nuclear sites. Iran also launched retaliatory missile strikes on Israel into Saturday morning, killing at least three people and wounding dozens, raising concerns of a wider Middle East war. Oil prices have surged in response to rise in tensions in the Middle East. Brent and West Texas Intermediate (WTI), the gauge that tracks US crude, had jumped more than 13 per cent before settling at around 8 per cent higher on Friday. 'While Iran has threatened to block the strait before, their current weakened position makes this uncertain. There's still a risk from Iran's proxies like Houthi rebels and Hamas, who may retaliate,' Phil Flynn, senior market analyst at the Price Futures Group, said. Last year, Houthi rebels have carried out attacks on ships passing through the Red Sea, disrupting maritime traffic and causing oil prices to rise on supplies worries. Many shipping companies were forced to reroute and take a longer route around the Cape of Good Hope at the southern tip of Africa to transport cargo to Europe and other destinations. Houthis said they launched attacks on ships, in solidarity with Hamas fighting against Israel in Gaza. Shipping companies urged to take extra measures 'The situation is very tense, and we have reports that more shipowners are now exercising extra caution and are opting to stay away from the Red Sea and the Arabian Gulf,' Jakob P Larsen, chief safety and security officer with shipping association Bimco, told The National in a statement. If the US is perceived to be involved in attacks, 'the risk of escalation increases significally,' which will impact freedom of navigation in the Red Sea and Strait of Hormuz. 'Such an escalation could include missile attacks on ships or laying of sea mines in the strait,' he added. Bimco has advised shipowners to follow developments closely and implement ship defence measures as tensions continued to rise between Israel and Iran. India's directorate general of shipping also urged Indian-flagged vessels and Indian seafarers transiting through the Strait of Hormuz "to exercise due caution while operating in or navigating through the region," according to an advisory on its website. Oil at $100 per barrel There is an elevated risk premium in the market that could push oil prices higher, analysts said. 'While a full blockade remains unlikely, the possibility, even if small, helps explain the elevated risk premium in the market today,' Mr Leon said. Iman Nasseri, managing director of Middle East at FGE Nexant, expects oil to jump above $100 per barrel if the strait is closed. "It seems like $70 to $80 (per barrel) would be the range for the short term if there is no closure of strait, if the strait gets closed, then we're looking at $90 and even above $100," Mr Nasseri told The National.
Yahoo
a day ago
- Business
- Yahoo
Why Halliburton and Other Oil Stocks Rallied Today
Israel conducted a major strike on Iran's nuclear and military capabilities this morning. Iran is a major oil and natural gas producer. The threat to that supply sent oil prices higher, bolstering the growth case for Halliburton. 10 stocks we like better than Halliburton › Shares of oil and gas services firm Halliburton (NYSE: HAL) rallied as much as 4.7% on Friday, before settling into a 3.4% gain as of 12:30 p.m. ET. Halliburton is the third-largest oilfield services company in the world, so any time oil prices go up, it's a recipe for potential further investment by oil companies in exploration, completion, and production enhancement services. So, it's no surprise that Halliburton was rising when oil prices spiked on Friday, following Israel's strike on OPEC+ country Iran. Last night and early this morning, Israel struck Iran's nuclear facilities and military complexes, along with targeted assassinations of top Iran Revolutionary Guard military officials and nuclear scientists. While details are still becoming known, it's pretty clear the Israeli strikes have been very devastating for Iran. Of note, Iran is the fourth-largest oil producer in the OPEC+ cartel, and the world's third-largest producer of natural gas. On Friday, oil prices were up 6.3% on the news of the strikes, even though a spokesperson for Iran said that the Israeli strikes hadn't targeted oil production facilities or refineries within the country -- only military and nuclear facilities. Nevertheless, the prospect of an escalating regional war in the oil-rich Middle East still led to a spike in oil prices today, which had fallen substantially to begin the year. Amid the recent downturn in oil prices, Halliburton has delivered fairly lackluster results, with revenue down 6.7% in its recent quarter. That being said, Halliburton's stock valuation is also very low, at just 9.2 times trailing earnings and about 8.6 times this year's earnings estimates, with a dividend yield of 3.1%. Like most oil stocks, Halliburton doesn't have great growth prospects, and is also cyclical. However, Halliburton and other oil stocks can effectively serve as a hedge against global wars that threaten oil supplies, as we're seeing today, while also paying a dividend along the way. Before you buy stock in Halliburton, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Halliburton wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $655,255!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $888,780!* Now, it's worth noting Stock Advisor's total average return is 999% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Halliburton and Other Oil Stocks Rallied Today was originally published by The Motley Fool
&w=3840&q=100)
First Post
2 days ago
- Politics
- First Post
Israel launches strikes against Iran, hits nuclear sites: What we know so far
Israel launched strikes against Iran early Friday, hitting its nuclear programme and targeting its long-range missile capabilities. Iran Revolutionary Guard chief Hossein Salami has been killed in the attack. Here are the top developments read more This handout photo released by Iran's Revolutionary Guard Corps (IRGC) official Sepah News Telegram channel on June 13, 2025 reportedly shows smoke billowing from a site targeted by an Israeli strike in the Iranian capital Tehran early in the morning. Israeli Prime Minister Benjamin Netanyahu said in a video statement in the early hours of June 13 that Israel carried out strikes on Iran and the military operation against the Islamic republic would 'continue for as many days as it takes'. AFP Israel and Iran tensions have escalated once again. In the early hours of Friday, Israel launched strikes against Iran, targeting the Islamic nation's nuclear programme and other military targets. The Jewish nation expects retaliation from Iran and has declared a state of emergency. As the story develops, here's what we know so far. 1. Israel launched strikes against Iran early Friday, hitting dozens of targets including nuclear sites. The strikes were a 'preemptive, precise, combined offensive', an Israeli military official said. They were part of Operation Rising Lion, said Israel Prime Minister Benjamin Netanyahu, adding Iran was a threat to 'Israel's very survival'. STORY CONTINUES BELOW THIS AD 2. The strikes have caused casualties in Iran. The state television has said that Hossein Salami, the commander in chief of the Revolutionary Guards, is among four senior officials who appear to have been killed. Fereydoon Abbasi, the former head of the Atomic Energy Organisation, has also been killed, state media has reported. 3. Explosions were heard north-east of Tehran, the Reuters news agency is reporting, citing the Iranian state-run Nour News. Blasts have also been reported near the Natanz nuclear facility. A witness in Nantanz told Reuters that multiple explosions were heard near a uranium enrichment facility. 4. Israel's Prime Minister Benjamin Netanyahu has confirmed Israel struck nuclear targets in Iran and said the operation will continue for many days. 'Moments ago, Israel launched Operation Rising Lion, a targeted military operation to roll back the Iranian threat to Israel's very survival,' Netanyahu said in a televised address. 'This operation will continue for as many days as it takes to remove this threat.' He said Iran had a programme to develop nuclear weapons and claimed it 'could produce a nuclear weapon' if not stopped. 'This is a clear and present danger to Israel's very survival,' Netanyahu said. 5. Netanyahu confirmed the strike on Iran's nuclear programme. 'We struck at the head of Iran's nuclear weaponistion program,' he added. 'We targeted Iran's main enrichment facility in Natanz. We targeted Iran's nuclear scientists working on the Iranian bomb. We also struck at the heart of Iran's ballistic missiles program.' STORY CONTINUES BELOW THIS AD 'In defending ourselves, we also defend others. We defend our Arab neighbours. They, too, have suffered from Iran's campaign of chaos and carnage.' 6. The Israeli Defense Forces (IDF) has acknowledged the strikes. 'Dozens of IAF jets completed the first stage that included strikes on dozens of military targets, including nuclear targets in different areas of Iran.' 'Today, Iran is closer than ever to obtaining a nuclear weapon. Weapons of mass destruction in the hands of the Iranian regime are an existential threat to the State of Israel and to the wider world.' 𝐓𝐡𝐞 𝐈𝐃𝐅 𝐥𝐚𝐮𝐧𝐜𝐡𝐞𝐝 𝐚 𝐩𝐫𝐞𝐞𝐦𝐩𝐭𝐢𝐯𝐞, 𝐩𝐫𝐞𝐜𝐢𝐬𝐞, 𝐜𝐨𝐦𝐛𝐢𝐧𝐞𝐝 𝐨𝐟𝐟𝐞𝐧𝐬𝐢𝐯𝐞 𝐭𝐨 𝐬𝐭𝐫𝐢𝐤𝐞 𝐈𝐫𝐚𝐧'𝐬 𝐧𝐮𝐜𝐥𝐞𝐚𝐫 𝐩𝐫𝐨𝐠𝐫𝐚𝐦. Dozens of IAF jets completed the first stage that included strikes on dozens of military targets, including… — Israel Defense Forces (@IDF) June 13, 2025 STORY CONTINUES BELOW THIS AD 7. An Israeli military official was quoted as saying by the BBC that there are multiple strikes and that they are 'against Iran's nuclear programme and other military targets'. It involves dozens of strikes in different areas of the country, the official says. Israel is targeting long-range missiles and targets related to the nuclear programme, the official adds. 8. Israeli Defence Minister Israel Katz has announced a state of emergency, saying the country was expecting retaliation. Air raid sirens were heard in Jerusalem. Flights that were headed for Tel Aviv have been diverted. 9. Flights have also been suspended at Tehran's international airport, which is nearly 30 km southwest of the Iranian capital. 10. The US was reportedly informed on Wednesday that Israel was ready to launch an operation in Iran, CBS reported. This was one of the reasons Washington advised some Americans to leave the region. STORY CONTINUES BELOW THIS AD 11. However, Donald Trump had made it clear that he was not in favour of the attack. 'I don't want them going in because, I mean, that would blow it,' he said hours before Israel launched the strikes. 12. The US was not involved in the strike. US Secretary of State Marco Rubio says Israel advised the US it attacked Iran for 'self-defence'. He reiterated that the US was 'not involved' in the Israeli strikes on Iran. (This is a developing story) With inputs from agencies
