Iraqi Revolutionary Guard takes action against oil tanker in waters off the Omani side of the Strait of Hormuz.
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The US revoked waivers for Iranian oil sales, leaving approximately 63 million barrels of Iranian crude oil stranded at sea.
According to Mars Finance, on July 8th, Bloomberg cited Vortexa data, after the US revoked waivers for Iranian oil sales, approximately 63 million barrels of Iranian crude oil are currently stranded at sea, with most tankers anchored in the Persian Gulf and Asian waters, and no buyers have yet been found. Previously, the US had allowed Iran to sell crude oil within 60 days without sanctions, but this week revoked the waivers citing Iran's attack on tankers in the Strait of Hormuz, resulting in a significant amount of already loaded crude oil facing sales difficulties. Market analysts stated that Iranian crude oil exports are once again under pressure due to factors such as sudden changes in US policy, European and American sanctions, and insurance restrictions. Apart from China, no Asian refineries have publicly purchased Iranian crude oil, and industry insiders expect Iran may need to further increase discounts to attract overseas buyers.
Less than 20 days after the ceasefire between the US and Iran, the situation has changed again: the US has intensified its attacks on Iran, revoked oil waivers, and increased the scale of its strikes fivefold.
PANews reported on July 8 that, according to Jinshi News, the United States launched a new round of airstrikes against Iran and revoked a waiver allowing it to sell oil globally. This move further jeopardizes the peace agreement between the two countries following frequent attacks on ships in the Strait of Hormuz. The U.S. Central Command issued a statement on the X platform stating that this "powerful strike" was intended to "impose a heavy price on attacks and harassment of merchant ships carrying innocent civilians in international waters," and that Iran's aggression was "unjustified, dangerous, and a clear violation of the ceasefire agreement." According to the U.S. Treasury Department's Office of Foreign Assets Control on July 7, the U.S. revoked a general license authorizing the sale of Iranian oil, with the remaining transactions allowed to continue until midnight Eastern Time on July 17.
The US military resumed strikes against Iraq and imposed oil sanctions.
According to BlockBeats, on July 8, the U.S. Central Command announced that its forces had initiated a series of powerful strikes against Iran in response to Iranian targeting and attacks on commercial shipping operated by civilian crews in international waterways. The U.S. Central Command stated that the strikes were a response to Iranian attacks on three merchant ships transiting the Strait of Hormuz, and that Iran's aggression was "unjustified, dangerous," and a "clear violation of the ceasefire agreement." U.S. officials stated that the strikes against Iran were a "punitive action, not a reciprocal response," and that the operation "will not end anytime soon." Simultaneously, the U.S. revoked a general license authorizing the sale of Iranian oil, allowing related final transactions to continue until midnight Eastern Time on July 17. This news caused international oil prices to rise. U.S. Treasury Secretary Bessenter had announced on June 22 that, as part of the framework of U.S.-Iran negotiations, the U.S. Treasury Department had issued a 60-day general license authorizing the production, delivery, and sale of Iranian oil. According to a statement released that day by the U.S. Treasury Department’s Office of Foreign Assets Control, the production, delivery and sale of Iranian crude oil, petrochemicals and petroleum products, which had been prohibited by several U.S. executive orders and regulations, have been exempted until August 21, 2026.
Both WTI and Brent crude oil prices rose by more than 2% during the day.
PANews reported on July 7th that, according to Bybit data, WTI crude oil rose 2.00% intraday, currently trading at $70.25 per barrel. Brent crude oil also rose over 2.00% intraday, currently trading at $73.52 per barrel. This followed a report from the UK Maritime Trade Organization that an oil tanker encountered an accident while transiting the Strait of Hormuz.
Abu Dhabi National Oil Company's distribution arm plans to acquire 100% of Shell's South African downstream business for $1 billion.
Mars Finance reported on July 7th that ADNOC Distribution, a subsidiary of Abu Dhabi National Oil Company, announced its plan to acquire 100% of Shell's South African downstream business for approximately US$1 billion. Following the transaction, a 28% stake will be sold to local empowerment partners and an employee stock ownership plan. The company expects the transaction to drive EBITDA growth of approximately 13% and earnings per share growth of approximately 6% in the first year after completion. The transaction is expected to close in 2027. (Wide Angle Observation)
Ministry of Transport: Deepen the implementation of the "Artificial Intelligence + Transportation" action plan
According to Mars Finance, Liu Wei, Secretary of the Party Leadership Group and Minister of Transport, chaired a ministerial meeting. The meeting emphasized the need to earnestly implement the spirit of the State Council's executive meeting, deeply implement the "Artificial Intelligence + Transportation" action plan, accelerate the improvement of the development and governance system for "Artificial Intelligence + Transportation," and firmly safeguard the bottom line of artificial intelligence safety. It also stressed the importance of effectively implementing all transportation-related tasks outlined in the "15th Five-Year Plan for Carbon Peak Achievement" and the "15th Five-Year Plan for National Health." (Cailian Press)