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Iran may be playing on a key US weakness to flip the tanker mining crisis on its head and spike oil prices

Iran can keep mining tankers carrying a fifth of the world's oil supply, and the US military can't do much to stop it.
Japanese Prime Minister Shinzo Abe holds a joint news conference with visiting U.S. President Donald Trump (not pictured) in Tokyo, Japan May 27, 2019

Japan’s prime minister made a historic trip to Tehran to ease US-Iran tensions. It was a disaster

Japan's Shinzo Abe tried to mediate the US-Iran standoff, but his historic visit ended in disaster as an explosion struck a Japanese tanker.

Owner of tanker attacked in Gulf of Oman blames ‘flying objects,’ seeming to contradict US suggestion that it was a mine

The US military said it saw what it believed to be a mine on the side of the ship, and US Secretary of State Mike Pompeo blamed Iran for the attacks.

Oil is being propped up by Middle East tensions after the US used video to blame Iran for tanker attacks

Oil prices on Friday were pushed and pulled between competing drivers of Iran tensions and a supply glut.

The oil tanker attacks could make a US-Iran military showdown inevitable, experts warn

Experts warn that Iran could soon begin targeting US assets in the Middle East and stage attacks on Americans in the region.
An undated photo of Frontine's Front Altair oil tanker.

Photos and video show flames, ash, and charring on oil tanker after suspected torpedo attack in Gulf of Oman

Two oil tankers were damaged in suspected attacks in the Gulf of Oman Thursday, forcing their crews to evacuate and sending the price of oil surging.
Photo of the smoking tanker from the News Agency Of The (IRIB) Islamic Republic of Iran Broadcasting (iribnews)

Oil is surging after a suspected torpedo attack on 2 tankers in the Gulf of Oman

Oil prices jumped at least 3% as traders feared Middle-Eastern tensions could reduce crude supplies.

Oil giants are pivoting to plastic, which could backfire amid a growing crackdown

Oil producers such as Saudi Aramco are betting on plastics and chemicals during a backlash against plastic waste.

Global stocks plunge after China hints it could unleash a ‘powerful’ trade war weapon

Stocks fell on Wednesday after Chinese newspapers described a ban on rare-earth exports to the US as a "powerful weapon" in the trade war.

Oil is nearing its biggest weekly loss this year as demand and trade-war woes combine in a ‘recipe for disaster’

Rising US supply, weakening demand, and US-China trade fears are a "dangerous combination" and adding to trader concerns in oil markets.