More oil is getting out of the Persian Gulf, but the region’s producers are looking for signs that it is safe as they ramp up plans for alternative routes.
Shipping companies had hoped to get their vessels out after this week’s U.S.-Iran deal but faced uncertainty on Friday as violence flared again in the region.
The vice president said that the United States was the only powerful ally Israel had left and noted that two-thirds of the weapons that protected Israel were paid for by U.S. tax dollars.
Drivers are enjoying some relief at the pump after the United States and Iran signed an agreement to reopen the Strait of Hormuz.
While the Iranians suffered substantial losses in the war, they emerged from a confrontation with the world’s most powerful military having proved they can use economic chaos as a weapon.
With the United States and Iran nearing a deal to reopen the Persian Gulf, the shipping giant is treading cautiously.
For months, a coalition led by Britain and France has been preparing to send minesweepers and other ships to secure the strait once the fighting ends. That moment may finally be here.
The U.S. Navy will be deploying a new generation of drone-based countermeasures to search the sea floor and surface for any mines Iran laid.
The short-term truce hasn’t been made public, and the long-term peace deal it is supposed to yield doesn’t exist yet, so there is much still unknown about any agreement between the adversaries.
Charging a toll is illegal under international law, but some fees are allowed for services. It is not clear what services Iran would provide, but there were no fees charged before the war.