Weilun Soon

Iranian attacks in the Persian Gulf are striking more ships and causing more severe damage than earlier in the conflict, bringing fresh risks to energy flows from the region.

Global shipping costs for oil have surged about sevenfold over the past year because of the war in the Middle East and they are likely to remain elevated, according to Goldman Sachs Group Inc.

A little-known South Korean shipowner dominated oil transits through the Strait of Hormuz in September, data from intelligence firms suggest, with the group’s vessels moving more barrels than the next three owners combined.

A little-known South Korean shipowner dominated oil transits through the Strait of Hormuz in September, data from intelligence firms suggest, with the group’s vessels moving more barrels than the next three owners combined.

The Iran war has thrown a spotlight on the arcane system used to price the world’s shipping contracts, and the centuries-old London institution that manages it.

The US may extend a pause on charges for Chinese-linked ships for calling at American ports by two months, following efforts to iron out broader trade issues between the two economies.

Iran’s Persian Gulf Strait Authority said it would take “legal action” against tankers belonging to Sinokor, the world’s biggest oil tanker owner that has carried millions of barrels out of the Strait of Hormuz in recent weeks.

A supertanker that was intercepted by US forces last year for carrying a cargo of sanctioned crude is now transporting Iraqi oil — a shift that underscores the lure of lucrative Middle Eastern routes and the scale of shortages pulling dark-fleet carriers into the mainstream.

The US military said vessels that have no need to move between ports in the Gulf of Oman and the Strait of Hormuz should stay away, as tensions ratchet up in the region.

Renewed US military strikes against Iran remain possible despite a flurry of diplomatic activity in recent days ahead of the midterm elections, according to RBC Capital Markets LLC.