Altcoins News
By Steven Anderson
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Shipping Routes Change Course. Major shipping lines didn't wait around. Maersk and MSC, two of the biggest players in global…
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Diplomatic Moves Heat Up. Gulf states keep talking, trying to hammer out something more permanent.
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Insurance Costs Jump. Insurance companies saw premiums rise for vessels operating in the Middle East.
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Oil prices stayed put Thursday. Traders watched the Strait of Hormuz situation ease up, keeping crude around $85 per barrel while energy stocks moved in different directions…
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The strategic waterway carries about 20% of global oil supplies, making any trouble there a big deal for energy markets worldwide.
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Markets stayed cautious. Not really panicked.
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Major shipping lines didn't wait around. Maersk and MSC, two of the biggest players in global shipping, rerouted their vessels away from potential trouble spots.
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ExxonMobil shares climbed 1.2% by market close, while Chevron dropped 0.5% because of its bigger exposure to Middle Eastern oil fields.
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The U.S. Department of Energy jumped in Thursday with comments about monitoring the situation closely.
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Gulf states keep talking, trying to hammer out something more permanent. The United Arab Emirates and Saudi Arabia put out a joint statement late Thursday saying they're ready to…
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The United Nations scheduled a meeting for next week with key players. The agenda focuses on keeping the Strait of Hormuz safe for shipping.
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International Energy Agency officials have been talking regularly with major oil producers about potential supply chain impacts.
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JP Morgan analysts revised their short-term oil forecasts Thursday, citing easing tensions as a stabilizing factor.
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Insurance companies saw premiums rise for vessels operating in the Middle East. Lloyd's of London announced higher war risk premiums Thursday, showing how cautious insurers have…
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The European Union's foreign policy chief Josep Borrell called for restraint from all parties Thursday.
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