Sep 27, 2019

Iran releases British oil tanker after 2-month detention

Photo: Contributor#072019/Getty Images

Iran released a British oil tanker and its crew on Friday 2 months after it was first detained near the Strait of Hormuz and weeks after Iran's own tanker was released from Gibraltar, reports the Washington Post.

The big picture: International attention has been focused on safety in the Strait of Hormuz, a shipping lane for 20% of the world's oil, that has seen a spate of vessel attacks and seizures as tensions between the West and Iran continue to simmer.

Go deeper: Iran says it will release seized British oil tanker

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U.S. hits Iran with cyberattack following Saudi oil bombings

Illustration: Aïda Amer/Axios

The U.S. has allegedly carried out another cyberattack against Iran in the wake of attacks on Saudi oil facilities in September, two unnamed U.S. officials told Reuters.

Why it matters, per Axios' Joe Uchill: This is the second publicly revealed round of cyberattacks in response to real world attacks, after U.S. Cyber Command targeted Iran following the downing of a U.S. drone in July. The U.S. and many of its allies have blamed Iran for the Saudi oil attacks, but Iran has vigorously denied the allegations.

Go deeperArrowOct 16, 2019

Rouhani's UN address reflects Iran's growing intransigence

Rouhani addressing the 2019 UN General Assembly. Photo: Valery Sharifulin/TASS via Getty Images

Iranian President Hassan Rouhani lashed out at world leaders in a strident address from the floor of the United Nations General Assembly (UNGA) on Wednesday, underscoring the Islamic Republic's increasing isolation on the international stage.

The big picture: Since May 2019, the world has seen Iran violate nuclear commitments and attack oil installations and commercial shipping critical to the international economy. France, Germany, and the U.K. have joined Washington in pointing a finger at Iran after the recent strikes on Saudi oil facilities, a sign that the trans-Atlantic community may be uniting against Tehran.

Go deeperArrowSep 27, 2019

The oil market's dueling pressures

Illustration: Sarah Grillo/Axios

Two pieces of news this morning distill the competing forces acting on oil markets these days.

The big picture: Geopolitical risks in the vital oil producing and transit region can cause short-lived price spikes, but at the same time, a drumbeat of bearish economic news is preventing a sustained price rise.

Go deeperArrowOct 11, 2019