to report online economy, Trump said last night that the United States would try to “free” stranded cargo ships affected by the closure of the Strait of Hormuz. Meanwhile, the British Maritime Operations Center announced that an oil tanker was hit by a bullet north of the city of Fujairah in the United Arab Emirates.
The price of oil was variable on this day, at the beginning of the new day, the price of Brent oil reached 108 dollars, but the lowest price recorded for Brent oil on Monday was 106.6 dollars, and now it fluctuates in the range of 109 dollars. These fluctuations occur when the Islamic Republic, in its latest proposal to end the blockade of the Strait of Hormuz, asks the United States to end the naval blockade of Iranian ports and leaves aside questions related to Iran’s nuclear program. The only action the United States took in response to this proposal was not to respond!
What about future transactions?
July futures for international benchmark Brent crude were down slightly at $101.94 a barrel, while U.S. West Texas Intermediate crude for June was up 0.15 percent at $108.33 a barrel.
What is the freedom project?
But the next question is what exactly is Trump’s plan to liberate the Strait of Hormuz? Dubbed Project Freedom, the effort will focus primarily on removing non-conflicting flagged civilian vessels from the waterway so they can “continue to operate freely and competently.”
Shortly after Trump’s remarks, the US Central Command announced: US military support for Project Freedom will include guided missile destroyers, more than 100 ground and naval aircraft, multi-domain unmanned platforms and 15,000 service personnel.
Good income of Russians from Iran war
It is true that the war had no water for Iran, but it had good bread for the Russians; While the strait is closed by the American generals, the Russians are looking to create a large source of income through this way, and a Russian tanker carrying crude oil from Sakhalin Island is scheduled to enter Japan today; An issue that shows stressed energy importers are determined to secure any source of supply from sanctioned suppliers.
Japan buys oil from wherever it can
Certainly, one of the biggest losses of the war between Iran and the United States came to Japan, in response to this situation, the government of this country started subsidizing the price of domestic fuel and quickly started trying to provide alternative sources of energy. In this regard, last month, Japan asked Saudi Arabia to send more shipments of crude oil. In the phone call between the Prime Minister of Japan and the Crown Prince of Saudi Arabia, he appreciated the continued supply of oil through the port of Yanbu and called for increased cooperation in the field of energy supply.
Japan, which supplies about 95% of its oil needs from the Middle East, has been withdrawing from its strategic reserves since the end of March. This action is part of the coordinated program of the International Energy Agency for the unprecedented release of 400 million barrels of oil and petroleum products. In this framework, Japan will release a total of 80 million barrels of its reserves, including 54 million barrels of crude oil and 26 million barrels of petroleum products.
