Latest Oil and gas transportation News

British Airways suspends Cairo flights for 7 days

Jul. 20, 2019 2:23 PM EDT

LONDON (AP) — British Airways says it is canceling flights to Cairo for a week for unspecified security reasons. The carrier sent The Associated Press a two-sentence statement Saturday calling the cancellations "a precaution to allow for further assessment." A company spokesperson would not say what...

Iran says its seizure of British ship a 'reciprocal' move

Jul. 20, 2019 1:59 PM EDT

TEHRAN, Iran (AP) — Iran's seizure of a British oil tanker was a response to Britain's role in impounding an Iranian supertanker first, senior officials said Saturday, as newly released video of the incident showed Iranian commandos in black ski masks and fatigues rappelling from a helicopter onto the...

The Latest: Iran says Saudis release tanker after 2 ½ months

Jul. 20, 2019 1:49 PM EDT

TEHRAN, Iran (AP) — The Latest on developments related to tensions between the U.S. and Iran (all times local): 10:15 p.m. Iran's semi-official Mehr news agency is reporting that Saudi Arabia has released an Iranian oil tanker after two and a half months. Happyness 1, belonging to the Iranian National...

Iran's poking at West heightens risks of military missteps

Jul. 20, 2019 1:38 PM EDT

WASHINGTON (AP) — Rather than tangle with a stronger U.S. military, Iran is poking and prodding its Western antagonists in ways apparently designed to avoid triggering war but that nonetheless seem to heighten the risk of missteps and miscalculation that could lead to an armed conflict with global...

Gulf tanker incidents may raise shippers' costs, cut traffic

Jul. 20, 2019 9:16 AM EDT

Recent seizures and attacks aimed at oil tankers in the Strait of Hormuz will raise insurance rates for shipping companies and, if unchecked, reduce tanker traffic in the vital waterway, according to energy experts. Iran on Friday seized a British-flagged oil tanker and a second Liberian-flagged ship was briefly...

Iran tanker seizure linked to earlier act by UK marines

Jul. 20, 2019 9:10 AM EDT

LONDON (AP) — Taken on its own, Iran's seizure of a British-flagged oil tanker in the Strait of Hormuz may seem like a brazen act of aggression, a provocative poke in the nose to both Britain and its ally, the United States. But Iran seems to view the armed takeover of the Stena Impero as a carefully...

Iran's seizure of UK tanker in Gulf seen as escalation

Jul. 19, 2019 8:56 PM EDT

LONDON (AP) — Iran seized a British-flagged oil tanker Friday and briefly detained a second vessel in the Strait of Hormuz, intensifying tensions in the strategic waterway that has become a flashpoint between Tehran and the West. The seizing of the British tanker marked perhaps the most significant...

Gulf tanker incidents may raise shippers' costs, cut traffic

Jul. 19, 2019 8:03 PM EDT

Recent seizures and attacks aimed at oil tankers in the Strait of Hormuz will raise insurance rates for shipping companies and, if unchecked, reduce tanker traffic in the vital waterway, according to energy experts. Britain's foreign secretary said Iranian authorities on Friday seized two ships, one flying under...

The Latest: Central Command says US intensifying air patrols

Jul. 19, 2019 7:34 PM EDT

TEHRAN, Iran (AP) — The Latest on developments related to tensions between the U.S and Iran (all times local): 2:10 a.m. U.S. Central Command says the U.S. has intensified air patrols over the Strait of Hormuz in response to the Iranian seizure of a British tanker. A Central Command spokesman, Lt. Col....

How major US stock indexes fared Friday

Jul. 19, 2019 4:54 PM EDT

U.S. stocks pulled further back from their records on Friday to cap the weakest week for the S&P 500 since May. Indexes sloshed between small gains and losses for much of the day before turning lower in the afternoon after Iran said it seized a British oil tanker, the latest escalation of tensions between...