Offshore drilling contractor Borr Drilling has informed that several of its rigs in the Middle East are returning to operations following recent disruptions, as the company secures a new contract in Southeast Asia.The company said the Arabia III jack-up rig resumed operations offshore Saudi Arabia in late March
Two oil tankers linked to Iran exited the Gulf on Monday via the Strait of Hormuz ahead of a planned U.S. blockade on Iranian ports and coastal areas, shipping data from Kpler and LSEG showed.
China urged calm and restraint by all sides on Monday, following U.S. President Donald Trump's threat to blockade the Strait of Hormuz after the failure of weekend talks in Islamabad aimed at ending
Oil prices surged on Monday as the U.S. moved to impose a blockade on Iranian shipping after the collapse of weekend peace talks, while the dollar rose and stocks and bonds fell.The U.S.
British Prime Minister Keir Starmer said on Monday that whatever the pressure, Britain would not be dragged into the Iran war nor be involved in a blockade of the Strait of Hormuz.
The Iran war and the closure of the Strait of Hormuz have shattered a status quo that prevailed among Middle East oil and gas producers for decades.
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