The Mideast war “is creating the largest supply disruption in the history of the global oil market”, as Iran’s chokehold on regional supplies forces Gulf oil producers to slash production, the International Energy Agency said Thursday.
Iran’s Revolutionary Guards said that they had carried out a joint missile operation with Tehran’s Lebanese ally Hezbollah against targets in Israel.
President Donald Trump said Wednesday that the United States would tap its strategic oil reserves “a little,” after the International Energy Agency said member countries would unlock supplies amid the Iran war.
The UN Security Council adopted a Gulf-Jordanian draft resolution on Iranian attacks by a vote of 13 in favor, with Russia and China abstaining.
The opening week of the war against Iran cost the United States more than $11.3 billion, lawmakers were told in a Pentagon briefing, according to a New York Times report underscoring the pace at which the conflict is consuming weapons and resources.
The United States said that a Russian delegation met with Americans in Florida, marking the first talks between the two sides since the start of the US-Israeli war against Iran.
President Donald Trump said that Iran was on the verge of defeat, but warned that US forces could escalate strikes such that the country would be “almost impossible” to rebuild.
Iran’s army said Wednesday it had targeted Israel’s military intelligence agency, a naval base in the city of Haifa, and an Israeli radar system.
Iran’s military vowed on Wednesday to launch strikes against US and Israeli economic targets in the region, including banks, after overnight attacks reportedly hit an Iranian bank.
Energy ministers of the G7 said on Wednesday they stood ready to take “all necessary measures” in coordination with the International Energy Agency (IEA) to tackle the rise in crude oil prices due to the Middle East war.
