Iran tells US to 'wait for $200 a barrel oil' as war continues

Iran is exporting more oil through the Strait of Hormuz than before the war while shipments from other Gulf producers decline, the Wall Street Journal reported citing tanker-tracking firm Kpler.

Tankers loaded an average of about 2.1 million barrels a day of Iranian crude over the past six days, compared with around 2 million barrels a day in February, the data showed.

Iran’s Islamic Revolutionary Guard Corps has warned ships against crossing the strait since the conflict began, prompting many operators to avoid the route.

“Almost all ships crossing the Strait are linked to Iran or China,” said Christopher Long of the Neptune P2P Group.

Iran does not have the conditions to take part in the World Cup due to security concerns after the killing of its leader in US-Israeli attacks, Sports Minister Ahmad Donyamali said on Wednesday.

“Our players are not safe and fundamentally such conditions for participation do not exist,” Donyamali said, according to state media.

He said Iran therefore could not participate in the tournament.

A senior Iranian naval commander said vessels must obtain permission from Iran before passing through the Strait of Hormuz after several ships were hit near the waterway.

Alireza Tangsiri, head of the naval arm of the Islamic Revolutionary Guard Corps, said ships that ignored warnings and attempted to transit the strait had run into trouble.

He cited the vessels Expres Rome and Mayuree Naree, saying they had tried to pass despite warnings and were caught in incidents.

Maritime security agencies said three ships were hit by unknown projectiles on Wednesday, bringing the number of vessels struck in the area since the war began to at least 14.

The Thailand-flagged bulk carrier Mayuree Naree was hit by two projectiles, causing a fire and damage to the engine room, its operator Precious Shipping said. Twenty crew members were evacuated in Oman while three were reported missing.

Two other ships also sustained damage: the Japan-flagged container ship ONE Majesty, operated by Ocean Network Express, and the bulk carrier Star Gwyneth, owned by Star Bulk Carriers. Crews on those vessels were reported safe.

Israel’s defense minister said the US-Israeli campaign against Iran will continue without a time limit until its objectives are achieved.

“The operation will continue without any time limit, as long as required, until we accomplish all objectives and achieve victory in the campaign,” Defense Minister Israel Katz said during a meeting with military leaders.

Katz said Israel and the United States were carrying out operations against Iranian leadership figures and forces including the Islamic Revolutionary Guard Corps and the Basij, according to a video released by his office.

The US Department of Justice is investigating Iran’s use of the crypto exchange Binance to evade US sanctions, the Wall Street Journal reported on Wednesday.

The probe focuses on money that moved through the platform to a network that funds Iran-backed groups, including Yemen’s Houthi movement.

Authorities have contacted people with knowledge of the transactions as they gather evidence, the report said.