_0_1780326589.jpg)
Protesters break through police cordon in Tirana as anger grows over Trump-linked resort project
9 hours ago
Oil prices dipped to around $103.15 per barrel on March 17 after briefly touching $105 in early trading, as signs emerged of diplomatic efforts to partially reopen the Strait of Hormuz.
The easing came after Iraq's oil minister said he had been in contact with Iran to seek permission for some tankers to transit the strait, according to Iraq's state news agency.
Separately, major Chinese oil companies have begun exploring deals with Russian crude suppliers after the US suspended some sanctions to ease pressure on global oil supply, sources told Reuters.
Oil prices have risen sharply since the US-Israeli strikes on Iran began on February 28 and shipping through the Hormuz strait was disrupted. Around a fifth of global oil supply normally passes through the narrow waterway.
Prices fell slightly on March 16 after reports that several vessels had transited the strait without security incidents.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Content
News
Protesters break through police cordon in Tirana as anger grows over Trump-linked resort project
Protests are part of a wider mobilisation against a $4bn tourism development backed by investors linked to Jared Kushner, the son-in-law of US President Donald Trump.
_0_1780421343.jpg)
Iran seeks Japanese help in rebuilding war-damaged oil sector
Iranian President Masoud Pezeshkian has asked Japan to participate in reconstructing infrastructure damaged in recent US-Israeli attacks, including refineries, in exchange for efforts to restore normal shipping through the Strait of Hormuz.
Two killed in Kenya protests over US-backed Ebola isolation centre
The deaths occurred as demonstrations intensified over a proposed 50-bed Ebola treatment facility intended to treat US citizens affected by the ongoing outbreak.
Panama moves to shed its tax haven status, on its own terms
Panama's new 15% tax on shell companies is being sold as a clean-up. It is also a carefully negotiated minimum, designed to satisfy Brussels while preserving the offshore model that built the country's service economy.
_0_1780406899.jpg)