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US President Donald Trump’s sanctions against Iran and Venezuela have inadvertently increased demand for a Russian brand of crude oil, boosting revenues for the nation’s exporters.
Iran has slammed as "provocative" a British proposal for a European-led naval mission to escort tankers in the Gulf, amid soaring tensions over the seizure of ships.
US Secretary of State Mike Pompeo is dismissing claims by Tehran that it has captured 17 spies working for the Central Intelligence Agency. Meanwhile, the first images emerge of the crew of the UK-flagged tanker seized by Iran.
An Israeli minister has boasted his country is the only one that "has been killing Iranians" in comments that come in the backdrop of rising tensions between Western powers and Iran in the Gulf.
An Iranian tanker seized by Saudi Arabia has been released and is being returned to the Islamic republic, an Iranian minister has said.
Video by Iran's Revolutionary Guard Corps shows how the British oil tanker was seized in Strait of Hormuz.
Oil snapped four days of losses after an American warship downed an Iranian drone near the Strait of Hormuz, stoking concerns crude flows from the Middle East may be disrupted.
The European signatories to a 2015 nuclear deal between Iran and world powers have warned that the landmark pact could fall apart, as they called for the resumption of dialogue amid rising tensions between Washington and Tehran.
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Iran's top diplomat said a US attempt at "piracy" had failed after a Gibraltar court on Thursday ordered the release of a tanker carrying Iranian oil despite a US detention request.
Iran on Sunday called Britain's seizure of an Iranian oil tanker a breach of an ailing 2015 nuclear deal, after remaining parties to the accord met in Vienna in a bid to keep it alive.
British Prime Minister Theresa May has chaired an emergency meeting of ministers and security officials to discuss how to respond after Iran seized a UK-flagged tanker in the Gulf.
Oil extended gains as tensions in the Persian Gulf remained elevated after Iran seized a British tanker, and Libyan production fell after an unidentified group reportedly shut the country’s largest field.
Britain has urged Iran to de-escalate tensions in the Gulf by releasing a UK-flagged ship it said had been illegally seized in Omani waters in an "utterly unacceptable" gambit.
Tensions in the Gulf region mounted Thursday as US President Donald Trump said an American naval vessel shot down an Iranian drone that threatened the ship as it was entering the Strait of Hormuz.
Iran's Revolutionary Guard Corps have seized a foreign tanker accused of smuggling oil with a crew of 12, according to Iranian state TV.
British Foreign Secretary Jeremy Hunt has moved to ease tensions with Tehran, saying the Iranian oil tanker being held by authorities in Gibraltar will be released if there is a guarantee it is not heading to Syria.
Iran warned world powers they won't be able to negotiate a better deal than the landmark 2015 nuclear agreement, as the United States vowed the Islamic Republic will never acquire an atomic weapon.
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