▼ Bearish for Indian equities
Iran says Strait of Hormuz will stay closed until US meets seven conditions
The brief
- Mohammad Baqer Qalibaf said the strait would remain closed until Washington meets seven conditions
- The conditions were agreed under a June interim arrangement
- Prolonged disruption risks higher energy and shipping costs for Indian refiners and logistics companies
- Port unions seek urgent measures to protect Indian seafarers on conflict routes
- Five Indians rescued after projectile strikes tanker in Strait of Hormuz
- US-Iran war news LIVE: Two oil tankers attacked in Strait of Hormuz by 'unidentified projectiles,' says UKMTO
- Crude oil tanker struck by unknown projectile off Oman, UKMTO says
- Arctic sea routes boom as Gulf war and global warming divert shipping
Iran conflict, oil supply risks and US pressure
Oil rose amid threats to widen the Iran conflict and concerns over Middle East shipping, even as regional crude exports recovered to prewar levels. The US weighed further military action and sent roughly 9,000 troops to the region while tightening economic pressure on Tehran.
Sunday, 4 October
- Iran says Strait of Hormuz will stay closed until US meets seven conditions