Two tankers with Saudi oil exit Red Sea over weekend, data shows
Two tankers laden with Saudi oil crossed the Bab el-Mandeb strait over the weekend, while
traffic in the Strait of Hormuz slowed following reports of vessel attacks, shipping data showed on Monday.
The number of commodity vessels that passed through the Bab el-Mandeb strait fell to 18 on Sunday, from 27 on Saturday and 28 on Friday, the Kpler data showed.
UK faces recession if Strait of Hormuz stays closed, forecaster warns
Britain's economy is likely to shrink in 2027 if the Strait of Hormuz does not reopen to shipping before the middle of next year, forecasters at accountants EY warned on Monday.
EY slightly nudged up its growth forecast for this year to 0.8% from 0.9%, on the basis that the Strait reopens by the end of September, and sees growth of 1.2% in 2027 on that basis.
"If the Strait of Hormuz reopens in the coming months, we expect the UK to avoid a more pronounced downturn, but an extended closure into 2027 would raise inflation and could push
the economy into contraction next year," EY UK Chief Economist Peter Arnold said.
Tanker off Oman reports explosion near vessel
The master of a tanker off the coast of Oman has reported hearing an explosion near the vessel, the United Kingdom Maritime Trade Operations (UKMTO) Centre reported Sunday.
"The vessel and crew are all reported as safe," said the UKMTO. The incident happened 20 nautical miles northeast of Khasab, in Oman, the monitor added.
Oil tumbles as Trump cancels attack on Iran to reach nuclear deal
Oil prices lost more than $5 a barrel at Monday's open after US President Donald Trump held
off from a fresh attack on Iran, in order to reach a quick deal that would halt Tehran's nuclear ambitions and reopen the Strait of Hormuz.
Brent crude futures slipped $5.52, or 6.28%, to $82.41 by 2202 GMT while U.S. West Texas Intermediate crude was at $79.40 a barrel, down $5.27, or 6.22%.
Trump says new talks with Iran to begin Monday after calling off strikes
US President Donald Trump said that negotiations with Iran will begin Monday after he decided to hold off on new strikes against the Islamic republic to pursue a deal.
"Obviously, they don't want to be attacked. They knew the extent of the attack because they saw it forming," Trump told reporters on Sunday aboard Air Force One. "Now what we're doing is we're talking to them in the form of a negotiation. It begins tomorrow afternoon."
- Trump says US, Israel to hold off on Iran strikes
- Saudi crown prince urged Trump not to escalate Iran war
- Israel says it has serious concerns with Hamas disarmament deal
- Israeli strikes kill 18 in Gaza, minister says no deal to halt attacks
Yesterday's key developments:
- Israeli airstrikes hit Gaza for a second straight day, killing at least 18 Palestinians, medics said, despite US President Donald Trump 's announcement of a breakthrough in efforts to implement last year's ceasefire agreement.
- The crew of an Iranian commercial ship that was hit in a Ukrainian attack and the body of a sailor killed in the incident have returned to Iran, according to Iran 's semi-official ISNA news agency in a report on Sunday.
- Iran on Sunday said it was nearing a deal with Oman over a new route through the Strait of Hormuz , hours after the US called off major strikes to allow for diplomacy .
(FRANCE 24 with AFP, AP, Reuters)
