CENTCOM: 100 ships rerouted under US Iran blockade enforcement
US Central Command (CENTCOM) Spokesperson Colonel Joe Buccino announced at a Friday briefing that 100 tankers have been turned away from the Strait of Hormuz and rerouted under the US 'coastal enforcement operation' against Iran over the past 8 days. Brent crude rose to $102.30, and Lloyd's data showing global insurance premiums up 14% have deepened supply-chain concerns.
US Central Command (CENTCOM) Spokesperson Colonel Joe Buccino announced at a Friday operational briefing from MacDill Air Force Base in Tampa, Florida, that 100 commercial tankers and cargo vessels have been redirected to alternative routes instead of crossing the Strait of Hormuz under the US 'coastal enforcement operation' against Iran over the past 8 days. Buccino said 'The operation is being conducted in line with inspection requests made under UN Security Council Resolution 1929 (2010),' confirming that the US Navy 5th Fleet command centre in Bahrain is coordinating the operation.
Lloyd's of London said in a Friday statement that war-risk insurance premiums for VLCCs (Very Large Crude Carriers) transiting Hormuz have risen 14% over eight days, with premium rates now 4.8 times normal levels. Brent crude rose from $99.80 to $102.30 Friday, and WTI from $96.80 to $99.40. Goldman Sachs analyst Daan Struyven said 'Roughly 40% of the 100 rerouted tankers were destined for state-owned Sinopec and Unipec of China, and 25% for India's IOC. Average re-routing cost is approximately $3.80 per barrel.'
Iranian Foreign Minister Abbas Araghchi described the US blockade on Friday as 'a unilateral act in breach of international maritime law' and announced that Tehran would file a formal complaint at the UN Security Council on Monday. Chinese Foreign Ministry Spokesperson Mao Ning said in the daily Beijing briefing that 'energy security and freedom of international trade should not be sacrificed to US unilateral measures.' Indian Foreign Ministry Spokesperson Randhir Jaiswal underscored in a New Delhi statement that an urgent US-Iran mediated negotiation is required. The CENTCOM operation remains in effect under its current authorisation until 14 June. This article is not investment advice; energy markets may remain volatile.
More from Middle East
Five police officers and 13-year-old boy killed in Israeli attack on Gaza
Al Jazeera correspondent Tareq Abu Azzoum reported that an Israeli air strike on the Nuseirat refugee camp near Deir el-Balah killed five police officers and a 13-year-old boy. The incident produced the highest daily casualty number since the 18 May ceasefire took effect. Gaza's Health Ministry said 31 wounded were also recorded over 24 hours.
Iran and US could be close to breakthrough in talks for draft deal to end war
In the US-Iran talks brokered by Oman and Qatar, the two sides are reportedly close to a 'draft agreement text'. The SCMP report says discussions cover phased sanctions removal conditioned on Tehran softening its uranium enrichment level. Brent oil dropped from $99.40 to $96.80 per barrel following the report.
Palestinian President Abbas casts vote in decisive Fatah elections
Palestinian President Mahmoud Abbas cast his vote in internal Fatah elections that will reshape the movement's leadership structure. The ballot will set the agenda for governance priorities and succession planning in the post-Gaza war period.