Iran is exporting more oil through the Strait of Hormuz than before the war, showing it is in control of a strategic waterway that it has closed off to the rest of the region’s oil producers. The tanker Luojiashan anchored in Muscat, Oman, as Iran exerts control over the Strait of Hormuz. As Gulf Arab…
Last Updated:March 11, 2026, 11:53 IST Beijing’s deep ties with Tehran and the Islamic Revolutionary Guard Corps-linked maritime networks have allowed it to maintain a steady flow of crude despite geopolitical tensions Beijing is reportedly securing Iranian crude at $8-$12 per barrel below Brent benchmarks, saving billions of dollars annually while strengthening its energy security….
Hong Kong customs officers have intercepted more cross-border trucks suspected of smuggling petrol into the city as fuel prices surge amid the war in the Middle East. Commissioner of Customs and Excise Chan Tsz-tat said on Wednesday that some of the vehicles had even enlarged their fuel tanks to carry more petrol for supplying illegal…
Iran on Tuesday responded to United States President Donald Trump’s warning that America would strike “twenty times harder” if oil passage through the Strait of Hormuz is disrupted. The US President further threatened to “take out easily destroyable targets”. (AP) “If Iran does anything that stops the flow of Oil within the Strait of Hormuz,…
Hong Kong is set to challenge London’s dominance in marine insurance as Middle East tensions highlight the city’s ability to provide war-risk cover at a lower cost, according to the local insurance regulator’s chairman. Stephen Yiu Kin-wah on Tuesday said the Insurance Authority had supported insurers in launching a special war-risk insurance pool last November,…
Authorities are communicating with local oil companies to monitor how the war in the Middle East is affecting Hong Kong’s fuel market, amid a public backlash over what has been called premature price hikes. Responding to a South China Morning Post inquiry on Tuesday, the Environment and Ecology Bureau also said the government had been…
Financial Secretary Paul Chan Mo-po delivered his latest budget on February 25. Over the past decade, under his stewardship, Hong Kong has weathered multiple economic shocks and recently returned to a respectable growth rate of 3.5 per cent. Yet the tasks ahead are formidable: addressing a structural fiscal deficit in the city’s capital account while…
Hong Kong authorities have been urged to review the pricing mechanism for local fuel supplies after petrol retailers were accused of swiftly raising prices as conflict erupted in the Middle East, even though the city had not yet exhausted its weeks-long stockpile. Global fuel prices have soared since the US-Israel war with Iran broke out,…
An elementary school in Minab, Iran, was hit amid US and Israel‘s actions against Ayatollah Khamenei‘s regime. The strike on February 28 at Shajarah Tayyebeh elementary school left dozens dead, including children, and became the deadliest known instance of civilian casualties since the conflict involving the nations began. However, no side has claimed responsibility for…
A bulk carrier signaled it was Chinese-owned as it transited the Strait of Hormuz this week, highlighting how vessels are trying to ensure safe passage through the waterway during the war in the Middle East. The Iron Maiden changed its destination signal to “CHINA OWNER” from “For Orders” early Thursday as it made a break…