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Israel is also heavily backed by the United States, which has supplied more than 29,000 guided bombs, artillery rockets and assorted missiles since 2009. A spiraling conflict between Iran and Israel, one of the United States’ closest allies, could pull U.S. forces positioned throughout the region into the fray. Israel has told the United States that it will not attack Iran’s nuclear or oil facilities in its expected attack. Though highly unlikely, an Israeli strike on Iran’s oil facilities could prompt Iran or its proxies to target refineries in Saudi Arabia or the U.A.E. This April, Iran’s attack involving more than 300 drones and missiles, in retaliation for Israel’s killing of seven Iranian officials in Syria, shattered that supposition.

Persons: Arash Khamooshi, Abbas Araghchi, Biden, emboldening Israel, Chang W, Lee, Yahya Sinwar, Israel Organizations: Iranian Revolutionary Guard, The New York Times, International Institute for Strategic Studies, United, Senior Pentagon, The Defense Department, Area Defense, Defense, New York Times, United Arab, United Nations Locations: Israel, Gaza, Yemen, Lebanon, Iran, United States, Tehran, U.S, Gulf States, Guam, Qatar, United Arab Emirates, Bahrain, Kuwait, Saudi Arabia, Hormuz, Persian, Palestine Square, Gaza . Credit, Syria

☆ Crude oil prices edge higher after four-day losing streak
▼ + stars: | 2024-10-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Crude oil futures rose slightly Thursday after a four-day losing streak as fears of a supply disruption in the Middle East eased and a surplus looms over the market next year. Here are Thursday's energy prices:Israel has reportedly told the U.S. that it will refrain from hitting Iran's oil facilities in retaliation for the Islamic Republic's Oct. 1 ballistic missile attack. The oil market sold off steeply Tuesday on reports that Israel will limit its strike to military targets in Iran. An attack on oil facilities, however, could disrupt 1.4 million bpd of Iran's production, Saraswat said. A full-blown war could lead to Iran choking the Strait of Hormuz, jeopardizing 12 million bpd of oil and "driving up prices sharply," the analyst said.

Persons: Aditya Saraswat, Saraswat Organizations: Rystad Energy Locations: Israel, retaliating, Iran, East, Hormuz, jeopardizing

☆ Russia's oil trade is rising as record volumes of Russian crude are carried on 'dark fleet' vessels
▼ + stars: | 2024-10-14 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

According to Clearview Energy Partners, Russian crude prices over the last four weeks have averaged about six cents below the Brent crude price. Record volumes of sanctioned Russian oil were carried by the "dark fleet" and known sanctioned tankers without known insurance over September, according to a recent report from Lloyd's List. The Price Cap Coalition continues to engage with industry to ensure compliance with the price cap and to increase Putin's costs of going outside it." The increased use of dark fleet vessels comes with greater maritime safety and environmental risks. Insurance giant Allianz said in May that dark fleet tankers had been linked to more than 50 accidents.

Persons: Kevin Book, Vortexa, Avebury, Andy Lipow, Putin, Lipow Organizations: Windward, Clearview Energy Partners, CNBC, European Union, Brent, Intelligence, Iranian Tanker Co, U.S . Office, Foreign, Control, Lipow Oil Associates, Treasury, Kremlin, Coalition, Group, Insurance, Allianz Locations: Morocco, U.S, Ukraine, Australia, India, China, Russian, Barbados, Seychelles, UAE, Avebury Shipmanagement . Greece, Russia, United States, Iran, Israel, Straits, Hormuz, Canada, Guyana

☆ Why oil and gas markets are dreading the risk of supply disruption in the Strait of Hormuz
▼ + stars: | 2024-10-08 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

In 2022, oil flow in the Strait of Hormuz averaged 21 million barrels per day, according to the U.S. Energy Information Administration (EIA). Saul Kavonic, senior research analyst at MST Financial, said supply disruptions along the Strait of Hormuz could send oil prices significantly higher. Oil prices traded more than 3% on Monday, extending gains even after notching their sharpest weekly gain since early 2023 last week. "But seeing where the oil price sits right now the market doesn't seem to hold much probability for such a development at all," he added. "A significant disruption to these flows would be enough to push oil prices to new record highs, surpassing the record high of close to $150/bbl in 2008," he added.

Persons: Alan Gelder, Wood Mackenzie, CNBC's, Iraq —, Gelder, Saul Kavonic, Kavonic, Bjarne Schieldrop, SEB, Brent, Schieldrop, Warren Patterson, Patterson Organizations: Nurphoto, U.S . Energy Information Administration, Energy, Brent, U.S, West Texas, ING, bbl, United Arab Emirates, Space Shuttle Columbia Locations: Persian, Bushehr, Iran, Hormuz, Oman, Strait, Israel, Saudi Arabia, Kuwait, Iraq, UAE, Gulf, Muscat

☆ S&P's Dan Yergin warns of 'dangerous time' for global economy as Middle East tensions fester
▼ + stars: | 2024-10-08 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Iran fired hundreds of ballistic missiles and drones at Israel in retaliation for an attack on an Iranian diplomatic facility in Syria. The global economy is entering a "dangerous time" like never before as Middle East tensions remain elevated, said S&P Global's vice chairman Daniel Yergin. When asked if the global economy is on the precipice of another supply shock resulting from Middle East tensions, Yergin said it's a precarious time for markets. "The betting is that the Israelis would not attack, try to attack, the nuclear facilities at this time. It is a strategically important waterway linking crude producers in the Middle East with key markets across the world.

Persons: Yergin, CNBC's, Joe Biden, Daniel Yergin, it's, —, Pavel Molchanov, Raymond James, Iran's Organizations: White House, Cuban Missile, Iran Watch, Wisconsin, U.S . Energy Information Administration Locations: Iran, Israel, Iranian, Syria, China, Hormuz, Oman

☆ Strait of Hormuz: A 21-mile-wide channel is key to cheap gas. It’s under threat
▼ + stars: | 2024-10-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Global oil prices have spiked in recent days as the conflict in the Middle East has reached fever pitch. They could rise yet further if Israel’s widening war embroils the vital Strait of Hormuz off Iran’s southern coast. About one-fifth of the world’s global oil trade passes through the strait every day, notes Simone Tagliapietra, a senior fellow at Brussels-based think tank Bruegel. It also accounts for about a quarter of the world’s daily trade in liquefied natural gas. But if oil trade through the critical Strait of Hormuz wobbles, prices could soar above $100 a barrel, according to research firm ClearView Energy Partners, sending gasoline prices surging.

Persons: Simone Tagliapietra, Hassan Nasrallah, Yoav Gallant, ” Tagliapietra, Brent, Richard Bronze, “ Organizations: London CNN —, US Energy Information Administration, Israel’s, CNN Sunday, Israel . West Texas Intermediate, ClearView Energy Partners Locations: Hormuz, Brussels, Iran, Israel, Lebanon, United States, China

☆ U.S. crude oil jumps 2%, trades near $76 as market waits for Israel strike against Iran
▼ + stars: | 2024-10-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil rose about 2% on Monday, as the market waited for Israel to strike Iran. Oil prices spiked last week on fears that Israel could hit Iran's oil industry in retaliation for Tehran's ballistic missile attack. The impact on the oil market would be significant if Israel struck Kharg Island, through which 90% of Iran's crude exports pass, Croft said. The worst-case scenario is a disruption in the Strait of Hormuz, through which 20% of the world's crude exports flow, Gelder said. Iran might target the strait in response to an Israeli strike, which would have a far more dramatic effect on crude prices, the analyst said.

Persons: Israel, Joe Biden, Biden, Helima Croft, Croft, CNBC's, Alan Gelder, Wood Mackenzie, Gelder Organizations: Texas Intermediate, Brent, RBC Capital Markets Locations: Israel, Iran, U.S, Kharg, Wood, Strait, Hormuz

☆ Israel's strike back at Iran could hurt the Harris campaign in its final stretch if gas prices soar
▼ + stars: | 2024-10-05 | by ( Brent D. Griffiths | Chris Panella | ) www.businessinsider.com time to read: +12 min

The move could drive oil prices up further, creating a headache for Harris' campaign. If Israel did strike Iran's oil, it would likely have two main targets. Then, on Thursday, he said the US and Israel were discussing whether the US would support Israel striking Iran's oil facilities. Biden has indicated there are conversations between the US and Israel about whether Iran's oil facilities are a legitimate retaliatory strike option. Back in September, global oil prices fell to the lowest level in almost three years, and the US has seen a historic year of oil production.

Persons: Israel, Harris, —, Kamala Harris, Patrick De Haan, De Haan, Clay Seigle, Siegle, ATTA KENARE, Kit Haines, Haines, Hassan Nasrallah, Ismail Haniyeh, Biden, Benjamin Netanyahu, Netanyahu, Wisam, Seigle, Joe Biden, backtrack, Michael M, Nicholas Carl, there's, Privately, JIM WATSON Organizations: Service, Incumbents, Getty, Analysts, Energy, Wednesday, National Iranian Tanker Company, American Enterprise, Business, Publicly Locations: Iran, Israel, Ukraine, Tehran, Yemen, AFP, Hormuz, Saudi, Anadolu, Russia

☆ Goldman Sachs says crude could spike by $20 on Iran oil shock
▼ + stars: | 2024-10-04 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

The oil tanker 'Devon' prepares to transfer crude oil from Kharg Island oil terminal to India in the Persian Gulf, Iran, on March 23, 2018. Oil prices could shoot up $20 per barrel if Iranian production sees a hit resulting from Israeli retaliation, according to Goldman Sachs. U.S. crude oil prices just saw a third consecutive session of gains after Iran launched a ballistic missile attack on Israel, heightening tensions in the region. If Israel hits Iran's oil industry, supply disruptions in the Strait of Hormuz could become of concern, other analysts echoed. This strategically significant waterway connects crude oil producers in the Middle East with major global markets.

Persons: Struyven, Daan Struyven, Goldman Sachs, CNBC's, Saul Kavonic, Joe Biden, Brent Organizations: U.S . Energy Information Administration, Oil, CNBC, White, bbl, USD150, Fitch Solutions, BMI Locations: Devon, India, Persian Gulf, Iran, Saudi Arabia, UAE, Israel, U.S, China, Hormuz, Strait, Oman, OPEC

☆ Why oil prices haven't skyrocketed on Middle East supply fears — yet
▼ + stars: | 2024-10-04 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Iran, which is a member of OPEC, is a major player in the global oil market. It's estimated that as much as 4% of global supply could be at risk if Israel targets Iran's oil facilities. For some analysts, the reason crude prices have yet to move even higher is because the oil market is short. watch nowTamas Varga, an analyst at oil broker PVM, told CNBC via email on Thursday that the oil market was pricing in some risk premium given the geopolitical concerns. These fears, however, will be greatly alleviated in [the] coming days unless oil supply from the region or traffic through the Strait of Hormuz are materially impacted," he added.

Persons: Fatemeh, Goldman Sachs, SEB, Jeff Currie, Carlyle, CNBC's, it's, Currie, we've, Amrita Sen, We've, Sen, Joe Biden, Biden, Tamas Varga, " Varga, Benjamin Netanyahu, Masoud Pezeshkian Organizations: Anadolu, Getty, Energy, OPEC, Brent, U.S, West Texas, CNBC, White House, Islamic Revolutionary Guard Corps, Persian, Nurphoto Locations: Isfahan Refinery, Iran, Isfahan, Israel, Swedish, backwardation, bearishness, U.S, Hormuz, Oman, Tehran, Qatar, Persian, Bushehr, Bushehr province

☆ From missile batteries to oil refineries to nuclear labs, Israel could hit a wide range of targets in Iran
▼ + stars: | 2024-10-03 | by ( Dan De Luce | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +7 min

If Israel decides to go that route, it remains an open question what parts of Iran’s oil sector Israel would try to attack. An attack on Iran’s oil industry could drive up oil prices and jolt the global economy. NuclearBiden said this week that the U.S. opposed any strikes on Iran’s nuclear program. Iran denies it has ever sought to build nuclear weapons and says its nuclear program is designed for civilian purposes. A 2015 nuclear agreement between Iran and world powers limited Iran’s nuclear project in return for an easing of economic sanctions.

Persons: Israel, Iran’s, ”, Monica Alba, Joe Biden, “, ” Biden, Fatemeh Bahrami, Nuclear Biden, Benjamin Netanyahu, Donald Trump Organizations: U.S, Energy, NBC News, Persian Gulf, Nuclear, Getty, of Atomic Scientists Locations: Iran, Tehran, Israel, Strait, Hormuz, Persian, U.S, Persian Gulf Star, Bandar Abbas, Fordow, Isfahan, Khondab, Iranian

☆ Oil prices could surge 161% if Middle East conflict wipes out Iran's energy infrastructure, commodity chief says
▼ + stars: | 2024-10-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Oil prices could surge past $200 a barrel if Iran's oil installations are taken offline, a chief commodities expert said. AdvertisementOil prices could roar past $200 a barrel if escalating tensions in the Middle East decimate Iran's crude output, a chief commodities analyst told CNBC. In the $200 per barrel scenario, Brent crude, the international benchmark, would gain 161% from its current price. Still, some investors are betting on the possibility of damaged oil output, Bloomberg reports. These restrictions were introduced to prop up oil prices, but have cost the alliance market share.

Persons: —, SEB's Bjarne Schieldrop, Schieldrop, Brent, Bob McNally, haven't Organizations: Service, CNBC, Traders, Bloomberg Locations: Iran, Hormuz, Israel, Lebanon, Libya, OPEC, Saudi Arabia, Riyadh

☆ $100 oil could be the October surprise no one wanted
▼ + stars: | 2024-10-03 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —The Middle East is in chaos, and the oil market is remarkably calm about it. The chill reaction in the oil market reflects a boy-who-cried-wolf mindset that has set in. Even just two years ago, oil prices skyrocketed to $130 a barrel in March 2022 after Russia invaded Ukraine. Oil prices skyrocketed in 2019 when Saudi oil facilities were damaged in an attack that US officials blamed on Iran. A disruption in the Strait of Hormuz could send oil prices above $100 a barrel, according to ClearView.

Persons: ”, Bob McNally, “, It’s, McNally, George W, Bush, Israel, ” Helima, Joe Biden, Croft, internationalize, Kevin Book, ClearView, it’s, Biden Organizations: New, New York CNN, Investors, Rapidan Energy Partners, Israel, RBC Capital Markets, CNN, CIA, ClearView Energy Partners, International Energy Agency, RBC, Strategic Petroleum Reserve, Citigroup, Citi Locations: New York, Iran, China, OPEC, Saudi Arabia, Russia, United States, ” Helima Croft, Ukraine, Israel, Saudi, Strait, Hormuz, Riyadh, Persian

☆ U.S. crude oil rises for third day as traders fear Middle East escalation that disrupts supplies
▼ + stars: | 2024-10-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil prices rose nearly 2% on Thursday for a third consecutive session of gains, as the market braces for Israel to retaliate against Iran. The risk of oil supply disruptions increases as fighting in the Middle East intensifies, but OPEC+ is sitting on a large amount of spare crude that could step into the breach, according to Claudio Galimberti, chief economist at Rystad Energy. U.S. crude oil has gained 5% this week. "That would add a significant risk premium to oil," he told CNBC's "Street Signs Europe." As a consequence, oil prices could surge to $200 per barrel if Israel hits Iran's oil infrastructure, he said.

Persons: Claudio Galimberti, Galimberti, Bjarne Schieldrop, Schieldrop, CNBC's Organizations: Rystad Energy Locations: Israel, Iran, OPEC, Swedish, Strait, Hormuz

☆ Oil market faces a rude awakening if Iran’s energy infrastructure is targeted, analysts say
▼ + stars: | 2024-10-03 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

It comes amid speculation that Israel could be planning to launch a retaliatory attack on Iran targeting its oil infrastructure — a prospect which would likely deliver a rude awakening to bearish energy market participants. Iran, which is a member of the Organization of the Petroleum Exporting Countries (OPEC), is a major player in the global oil market. So much so, it is estimated that as much as 4% of the world's supply could be at risk if Iran's oil infrastructure becomes a target for Israel. That, of course, would add a significant risk premium to oil," Schieldrop said. Situated between Iran and Oman, the Strait of Hormuz is a narrow but strategically important waterway that links crude producers in the Middle East with key markets across the world.

Persons: Bjarne Schieldrop, SEB, Schieldrop Organizations: CNBC, Organization of, Petroleum, Israel Locations: Isfahan Refinery, Iran, Isfahan, Israel, Strait, Hormuz, Oman

☆ Markets looking at a 'record global energy crisis' if Strait of Hormuz is affected, says analyst
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets looking at a 'record global energy crisis' if Strait of Hormuz is affected, says analystSaul Kavonic, senior research analyst at MST Financial, says that would be "coming on top of a quite fragile market in the wake of the reduction of Russian gas over the last two years."

Persons: Saul Kavonic Locations: Hormuz

☆ Oil markets not pricing in an 'all-out war' after Israel kills Hezbollah leader, but risks persist
▼ + stars: | 2024-09-30 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

While hostilities throughout the Middle East have ramped up, there has not been any oil supply disruption, observed Andy Lipow, president at Lipow Oil Associates. "The oil market does not expect an all-out war between Iran and Israel that would impact supply," he told CNBC via email. However, both experts noted that a rapid escalation in conflict could lead to crude oil prices hitting $100 per barrel. While unlikely, oil prices would jump by $30 per barrel if it occurred, he added. "If events rapidly spiral, any material disruption to Iranian oil supplies or oil exports through the Strait of Hormuz could send oil prices well over $100 per barrel," said Young.

Persons: Hassan Nasrallah, Nasrallah, Andy Lipow, Lipow, Josh Young, Young Organizations: State, Company, Venezuelan, Company SA, Israel Defense Forces, Hezbollah, U.S, National Intelligence, London Assembly, Brent, West Texas Intermediate, Lipow Oil Associates, CNBC, U.S ., U.S . Energy Information Administration, Hamas Locations: Venezuela, Beirut, Iran, Israel, U.S . Canada, Guyana, Straits, Hormuz, Oman, Lebanon

☆ Middle East tensions could lead to a $10 spike in oil prices: Strategist
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTensions in the Middle East could lead to a $10 spike in oil prices, says commodities strategistBenjamin Hoff, global head of commodities strategy at Societe Generale, says it would be safe to assume prices would spike if Iran were to disrupt the safe passage of vessels through the Strait of Hormuz.

Persons: Benjamin Hoff Organizations: Societe Generale Locations: Iran, Hormuz

☆ U.S. crude oil trades near a three-week high after rally fueled by Israel-Iran tension
▼ + stars: | 2024-08-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil prices traded close to a three-week high Tuesday, after rallying on Monday in anticipation of an attack by Iran against Israel that could play havoc with Mideast production and transportation. Here are Tuesday's energy prices:"These risks remain low-probability events, which helps explain the modest increase in prices," Gloystein wrote. But prices eased slightly Tuesday as a strike by Iran had not yet materialized. Rob Ginsberg, managing director at Wolfe Research, said U.S. crude could rise above a resistance level of $84 per barrel. "Once out, mid to high $90s isn't crazy," Ginsberg said.

Persons: Henning Gloystein, Gloystein, Rob Ginsberg, Ginsberg Organizations: Eurasia Group, International Energy Agency, OPEC, U.S, Wolfe Research Locations: Iran, Israel, Hormuz, Brazil, Canada, Guyana, China

☆ The US Navy is on its fourth aircraft carrier as its warships react to fighting in the Middle East
▼ + stars: | 2024-08-05 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewThe US Navy is sending another aircraft carrier to the Middle East. AdvertisementThe aircraft carrier USS Abraham Lincoln, right, follows the guided missile cruiser USS Cape St. George as the ships transit the Strait of Hormuz in May 2012. A carrier strike group consists of a carrier, its air wing, and other warships like destroyers and cruisers. The US also deployed the Dwight D. Eisenhower Carrier Strike Group to the Eastern Mediterranean as regional tensions flared. It then pivoted to the Middle East to defend merchant shipping lanes in the Red Sea and Gulf of Aden from Houthi attacks.

Persons: —, Abraham Lincoln, Israel, It's, Lincoln, George, Alex R, Forst, Gerald R, Dwight D, Eisenhower, Theodore Roosevelt Carrier, Roosevelt Organizations: Service, US Navy, Pentagon, Saturday, Abraham Lincoln Carrier Strike, Business, Hamas, Ford Carrier Strike Group, Israel, US, Eisenhower Carrier Strike Group, Ford, Eisenhower, AP, Theodore Roosevelt Carrier Strike, Lincoln, USNI, Fleet, Department of Defense, US Central Command, Command Locations: Israel, Iran, Tehran, Cape St, Hormuz, Gaza, Yemen, Lebanon, Iraq, Syria, Gulf, Aden, Persian, United States

☆ The Marines are testing its mobile drone-killing machine, equipped with Stinger missiles and machine gun turrets, for full deployment
▼ + stars: | 2024-08-02 | by ( Hope Seck | Sandboxx News | ) www.businessinsider.com time to read: +8 min

Related stories"MCOTEA uses a mission-oriented context in operational testing to relate evaluation results to the impact on the Warfighter's ability to execute missions," the guidebook states. "Focusing on the mission context during operational test planning and execution provides a more robust operational test environment and facilitates evaluation goals." While the real-world MADIS system will be equipped not only with Stinger missiles but also with 30mm machine gun turrets, officials said the tests so far have only involved training ammo. This fall, 3rd LAAB will finally get its first 13 MADIS systems right as the weapon achieves initial operating capability, marking it ready for combat. Program managers said earlier this year that the Marine Corps wants a total of 190 MADIS and 21 L-MADIS systems.

Persons: —, USS Boxer, jammer, MADIS, Cpl, Apollo Wilson, Lance Cpl, Jack C, Howell MADIS, Morgan Blackstock, Neil Mabini Col, Andrew Konicki, Blackstock, Taylor Barefoot, Barefoot, Robert Barclay, Barclay, Matthew Romonoyske Organizations: Service, Marine Air Defense Integrated, Marines, Air Battalion, Business, Tactical Vehicles, USS, 22nd Marine Expeditionary Unit, Polaris, Military, . US Marines, Marine Air Defense, US Marine Corps, Marine Corps, DoD, MCOTEA, Marine Air Defense Integrated System, MADIS, Marine Corps Systems Command, Sandboxx, " Systems, Mk1, US Navy, Air Defense, Corps, Unmanned, Systems, US Marines Locations: Strait, Hormuz, Yuma, America, Philippine, Camp Pendleton , California, Washington ,, Bataan

☆ Why the Iranian Navy keeps losing warships in accidents, after its Sahand frigate capsized and sank
▼ + stars: | 2024-07-12 | by ( Paul Iddon | ) www.businessinsider.com time to read: +9 min

It was the third navy ship Iran has lost in an accident since 2018. AdvertisementIn June 2021, it lost the 680-feet-long Kharg support ship, the Iranian Navy's largest by tonnage, in a fire, injuring 33. Furthermore, it could also "be a small reflection of government prioritization" of the Islamic Revolutionary Guard Corps Navy over Iran's Navy. "Budgets are training, maintenance, and personnel." Iran has two navies: its Navy, known as the Islamic Republic of Iran Navy, and the naval arm of the powerful Islamic Revolutionary Guard Corps paramilitary organization.

Persons: —, Bryan Clark, Clark, Steven Horrell, Horrell, Damavand, Shahid Hassan Bagheri, Morteza Nikoubazl, Hudson's Clark, Nadimi Organizations: Service, Iran's Navy, Business, Hudson Institute, Transatlantic Defense, Security, Center for, UK, Islamic Revolutionary Guard Corps Navy, Navy, Islamic Republic of Iran Navy, Islamic Revolutionary Guard Corps, IRGC Navy, US Navy, Supreme, IRIN, Washington Institute for Near East Locations: Bandar Abbas, Iran, Iranian, Bandar, United Kingdom, Islamic Republic of, Hormuz

☆ An Iranian frigate was seen capsizing at port while next to merchant ships, in another black mark for the country's record of naval mishaps
▼ + stars: | 2024-07-08 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

An Iranian frigate capsized while undergoing repairs at Bandar Abbas, a coastal city in the Strait of Hormuz. State media reported that it took on water and lost balance due to a "technical failure." AdvertisementSeveral people were admitted to hospital after an Iranian warship capsized at the port city of Bandar Abbas on Sunday, Iran's state media reported. The Sahand, a domestically produced Moudge-class frigate, was undergoing repairs when it lost balance and partially sank, per the Mehr News Agency. The mishap was due to a "technical failure," Mehr reported.

Persons: —, Bandar, Mehr Organizations: Service, Mehr News Agency Locations: Iranian, Bandar Abbas, Strait, Hormuz, State, , Bandar Abbas

☆ Iran's Islamic Revolutionary Guard Corps gets powerful ships to confront adversaries well beyond the Persian Gulf
▼ + stars: | 2024-07-04 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +17 min

Read previewIn the last three years, Iran's Islamic Revolutionary Guard Corps Navy has commissioned hundreds of new vessels. AdvertisementThe Shahid Hassan Bagheri is one of three new Soleimani-class missile corvettes that are the most heavily armed warships in the Islamic Revolutionary Guard Corps Navy's fleet. Despite being lightly armed, it has a record of harassing US vessels and civilian ships in the Persian Gulf. AdvertisementThree Soleimani-class corvettes, Shahid Soleimani, Shahid Hassan Bagheri, and Shahid Sayyad Shirazi, have been commissioned, while a fourth, Shahid Ra'is-Ali Delvari, is under construction. AdvertisementMahdavi will eventually be joined by another converted container ship, the Shahid Bagheri.

Persons: —, Shahid Hassan Bagheri, Morteza Nikoubazl, Ayatollah Ali Khamenei, Shahid Soleimani, Nazeri, Shahid Nazeri, SAMs, Shahid Sayyad Shirazi, Shahid Ra'is, Ali Delvari, Hassan Bagheri, Abu Mahdi al, Shahid, Alireza Tangsiri, Shahid Mahdavi, 400Y8DYPlr — Mehdi H, Shahid Roudaki, Roudaki, Mahdavi, Lewis B, Puller, Shahid Bagheri, Bagheri, Tangsiri, IRGCN, Ayatollah Khamenei, Nadimi, Saviz, Diego Garcia, Benjamin Brimelow Organizations: Service, Islamic Revolutionary Guard Corps Navy, Business, Islamic Revolutionary Guard Corps Navy's, Islamic Revolutionary Guard Corps, US, Quds Force, Guard, Southern Hemisphere, American, British, Washington Institute for Near East Policy, Global Affairs, Fletcher School of Law, Diplomacy, Modern, Institute Locations: Iran, Saudi Arabia, Persian, Gulf of Oman, Hormuz, China, Russia, Taiwan, Norway, Yemen, Makran, Morteza, Israel, Lebanon, Hamas, Gaza, Syria, Mahdavi, West

☆ U.S. oil trades near two-month high, heads for third-straight weekly gain on Israel-Hezbollah war fears
▼ + stars: | 2024-06-28 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. crude oil on Friday traded near a two-month high and is on pace for a third-straight weekly gain as fears of war between Israel and the Iran-backed militia Hezbollah grow. West Texas Intermediate hit an intraday high of $82.72 per barrel, the highest level for the U.S. benchmark since April 30. U.S. oil is up about 1.8% for the week and 6.7% for the month of June. Hezbollah could target Israel's offshore gas operations if war breaks out, and Israel could seek to hit Iranian oil facilities, according to RBC Capital Markets. There is also a risk that Iran could attack tankers in the straight of Hormuz or abandon a détente with Saudi Arabia and hit the kingdom's oil facilities, according to the firm.

Persons: Brent, stoking, Saudi détente, Helima Organizations: Hezbollah, Texas Intermediate, RBC Capital Markets, Pentagon, NBC News, The State Department, U.S, RBC Locations: Khiam, Lebanon, Israel, Gaza, Iran, U.S, Hormuz, Saudi Arabia, Saudi

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