Express News | Spokesperson for the Iranian Ministry of Foreign Affairs: Reopening the Strait of Hormuz requires the United States to lift its blockade and provide compensation.

BreakingsAug 10 15:53

For the first time since 1983! U.S. Strategic Petroleum Reserve falls below 300 million barrels; crude oil prices surge more than 4% intraday.

The U.S. Strategic Petroleum Reserve (SPR) hit a new low last week, falling below 300 million barrels for the first time since 1983. According to data from the U.S. Department of Energy, as of the week ending August 7, the SPR declined by approximately 6.1 million barrels to 298.3 million barrels—breaking through the 300-million-barrel mark and reaching its lowest level since 1983, drawing closer to the all-time low of around 270 million barrels recorded in April 1982. Following the release of this SPR data, international oil prices extended their gains. During the late morning session of U.S. stock trading, U.S. WTI crude oil futures briefly rose above $81.30 per barrel, while Brent crude climbed above $86.90 per barrel during the day.

wallstreetcn00:57

Iran and Oman have clarified the overall framework of their agreement, while Iran is considering banning vessels linked to the U.S. and Israel from passing through its waters; however, Trump stated that negotiations have 'made progress.'

U.S. officials recently stated that the United States would lift its blockade on Iranian ports once an agreement to restore unimpeded commercial shipping is announced. Senior Iranian officials said that if Gulf states fail to persuade Trump to halt military actions against Iran and instead resolve the conflict through negotiations, Iran would strike critical infrastructure—including oil, electricity, and water supply systems—in those countries.

wallstreetcnAug 8 05:53

Express News | U.S. officials stated that talks between Oman and Iran regarding the Strait of Hormuz have made progress, with an agreement expected soon.

BreakingsAug 8 03:08

Express News | Iran Plans to Tighten Transit Rules in the Strait of Hormuz

BreakingsAug 7 00:00

ICBC Asia facilitated the first RMB-settled LNG 'Cross-border Connect' transaction for a CNOOC subsidiary.

ICBC Asia announced that it recently collaborated with ICBC Shanghai Branch to assist CNOOC Gas & Power Group International Trading Co., Ltd.—a wholly owned subsidiary of CNOOC Limited (HKEX: 00883)—in settling its inaugural cross-border liquefied natural gas (LNG) “Cross-border Connect” pilot transaction in renminbi (RMB). In this transaction, ICBC Asia handled offshore fund clearing, while ICBC Shanghai Branch leveraged its onshore capabilities to complete the domestic RMB fund pooling. The entire settlement cycle was reduced from several days to mere minutes, significantly enhancing transaction efficiency and eliminating foreign exchange risks traditionally associated with LNG import trades, which are typically settled in foreign currencies for international procurement while sales within mainland China are priced in RMB.

AASTOCKSAug 6 16:10