Indian oil tankers allowed through Strait of Hormuz after Jaishankar’s talks with Iran: Sources
In a development that offers relief to India as global energy supplies remain under strain, Iran has permitted tankers flying the Indian flag to move through the Strait of Hormuz. The move reportedly followed discussions between India’s External Affairs Minister S. Jaishankar and Iran’s Foreign Minister Abbas Araghchi, sources said, according to a report by NDTV.
After the diplomatic engagement, at least two Indian tankers—Pushpak and Parimal—are reported to be sailing safely through the strategically important waterway. Their passage comes even as ships linked to the United States, Europe and Israel continue to encounter restrictions in the strait.
In a related development, a Liberian-flagged tanker carrying Saudi crude oil, commanded by an Indian captain, crossed the Strait of Hormuz two days earlier and has since docked at the port of Mumbai. The vessel became the first ship bound for India to successfully navigate the route after maritime movement in the region nearly stalled following attacks on Iran by the United States and Israel.
Meanwhile, the price of a barrel of Brent crude oil, the international standard, topped $100 a barrel early Thursday, just days after it spiked near $120. The surge came as Iranian strikes targeted ships in regional waters and the ongoing US-Israel war with Iran showed no signs of easing.
Thursday’s major developments include Iranian attacks against commercial ships around the Strait of Hormuz and Iraq's port of Basra, escalating a campaign of squeezing the oil-rich Gulf region as global energy concerns mount. The U.S. campaign of airstrikes in Iran is now in its 13th day.
The Israeli military is also striking Iran and its militant ally Hezbollah in Lebanon, where more than 800,000 people have been displaced by the fighting.
Oil prices shot more than 9% higher as supply concerns worsened with Iranian attacks on commercial shipping around the Strait of Hormuz.
U.S. benchmark crude oil jumped to about $95 a barrel.
(with inputs from AP)