EMEA News
Iran's IRGC Claims Complete Control of Strait of Hormuz: Report
Iran’s Islamic Revolutionary Guard Corps (IRGC) says it has complete control of the Strait of Hormuz.
The Strait of Hormuz is currently under full control of the Islamic Republic’s Navy, media outlet Al Arabiya reported on Wednesday, citing comments made by Guards Navy official Mohammad Akbarzadeh on Fars News Agency.
The remarks come after US President Donald Trump said on Tuesday that the US government will provide insurance support for ships transiting the strait, adding that the US Navy will escort vessels passing through the waterway.
The Strait of Hormuz is one of the world’s most critical maritime chokepoints, handling roughly 20% of global oil trade.
Iran has been claiming since the war began over the weekend that the strait is closed, but the US has dismissed those assertions, saying the waterway remains open.
Despite assurances from the US, several major shipping companies have said they are avoiding the Strait of Hormuz amid heightened regional tensions.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 640.50 | 66.00 | 967.50 | 157.00 |
| Rotterdam | 573.50 | 42.50 | 944.50 | 132.50 |
| Houston | 579.00 | 26.00 | 923.00 | 103.50 |
| Fujairah | 629.00 | 65.00 | 1044.50 | 163.50 |
| EMEA Average | 603.00 | 45.00 | 973.50 | 106.00 |
| Global 20 Ports Average | 629.00 | 41.50 | 981.50 | 104.00 |
| Global 4 Ports Average | 605.50 | 50.00 | 970.00 | 139.00 |
| Global Average Bunker Price | 635.00 | 30.50 | 948.50 | 75.00 |
Popular Now More
-
Mar 02A fire was reported at the plant earlier in the day. -
Feb 28Unverified claims of the Strait of Hormuz being closed are being broadcast to ships in the region after US and Israeli strikes on Iran on Saturday.