AGP Executive Report
Last update: 9 hours agoHormuz Shipping: Iran’s IRGC claimed four tankers caught fire after striking mines in the Strait of Hormuz; the claims remain unverified. Separately, UKMTO reported a tanker hit by limpet mines near Oman, where the navy rescued 25 crew from a burning vessel. Oil Market: Brent touched $118 a barrel as renewed attacks and fears of further US-Iran escalation raised supply concerns. Saudi Gulf terminals showed a possible uptick, with nine very large crude carriers loading on Wednesday—the busiest activity there since hostilities began, though one day does not confirm a sustained export recovery. UAE Spill: Authorities say the leak from tanker GEM NO. 2 is contained, while monitoring and coastal clean-up continue. Pakistan Supplies: Islamabad has asked Saudi Arabia for dedicated LPG shipments and investment in oil storage and refinery upgrades as shipping risks threaten winter fuel supplies.
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