Middle East Crisis Oil Market

US opens reserve – weak interest despite price shock

The US is now starting to release oil from the strategic reserve to curb rising fuel prices, reports Bloomberg.

A total of just over 45 million barrels are being lent to companies such as Shell and BP, which are to return the volumes with a premium by 2028.

Interest has been cooler than expected despite high oil prices, pressured by the war in Iran that has stopped transports via the Strait of Hormuz.

Information: Iran releases selected ships in Hormuz

Iran has guided an Indian gas tanker through the Strait of Hormuz after diplomatic contact with New Delhi. This is what a crew member told Bloomberg.

– It appears that Iran is allowing selected ships to pass after verification, security analyst Martin Kelly told the news agency.

The development is interpreted as Iran trying to control traffic in the strategically important strait, where concerns about attacks have increased.

Expert on decision to lift sanctions: "Absolutely crazy"

The US decision to temporarily ease oil sanctions against Iran is being met with sharp criticism. Experts warn that the measure could backfire and instead benefit Tehran economically.

- To put it mildly, this is crazy, Blackstone Compliance Services sanctions advisor David Tannenbaum tells the BBC.

According to him, the decision effectively means that Iran is allowed to sell oil that can finance the war. At the same time, analysts question whether the measure will have any major effect on energy prices and point out that it violates the US's previous line of "maximum pressure".