The Callisto tanker sits anchored as the traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran, in Muscat. (REUTERS)

‘Stop accommodating American, Israeli aggressors’: Iran hits out after UAE, allies criticise Strait of Hormuz block

Iran’s embassy in Japan has hit back at a UAE-led joint statement backed by several countries, urging signatories to “stop accommodating the American and Israeli aggressors” as tensions intensify over the Strait of Hormuz. The Callisto tanker sits anchored as the traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran,…

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Hong Kong to issue weekly updates on fuel charges to counter price gouging

    Hong Kong to issue weekly updates on fuel charges to counter price gouging

    Hong Kong authorities will issue weekly announcements about the changes in international and local fuel costs from April, following mounting suspicion that businesses are prematurely raising prices because of the United States-Israeli war on Iran. The move announced on Saturday was welcomed by experts, although some said prices were ultimately out of the government’s hands…

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    China Halts Fuel Exports as Hormuz Crisis Tightens Global Supply

      China Built a Massive Oil Buffer Ahead of the Iran Crisis

      China expanded its crude oil stockpiles over the first two months of the year, thanks to higher imports and a ramp-up in domestic production, Reuters’ Clyde Russell reported, adding that the stock buildout strengthened despite higher refining rates in the period. Imports of crude oil to China averaged 11.99 million barrels daily, Russell said, adding…

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