Update on Tensions with Iran - July 29

[dan_s]

LONDON (Reuters) - Britain told Iran on Monday that if it wants to “come out of the dark” it must follow international rules and release a British-flagged oil tanker seized by its forces in the Gulf.
Read more: https://www.reuters.com/article/us-mide ... SKCN1UO0S9

UK said it is planning a European-led naval force to escort tankers through the world's busiest oil shipping lane.
Read more: https://www.aljazeera.com/news/2019/07/ ... 58663.html

The US military has said it is already monitoring the area and developing a "multinational maritime effort" dubbed Operation Sentinel to increase surveillance and security in key Middle East waterways.

[dan_s]

CNN is reporting that Iran test-fired a medium-range ballistic missile earlier last week that traveled 1,000 kilometers, citing an unnamed U.S. official. The Shabaab-3 missile didn’t pose a threat to shipping or U.S. bases in the region, according to the same official.

BTW don't forget that Venezuela is in free fall: On July 26 Platts reported that PDVSA estimates that its August crude exports will fall to 685,000 b/d from 776,000 b/d in June, according to an internal PDVSA report viewed by Platts.