Iranian Tanker Released by Gibraltar

The price of oil continues to decrease due to the geopolitical tensions in the Middle East.

Economic News
16. 8. 2019

An Iranian tanker carrying oil has been allowed to cross through Gibraltar, despite a request from the United States for the tanker to be stopped. The tanker was initially detained about a month ago on suspicion that it was trying to deliver oil despite the United States’ sanctions against Iranian oil exports.

According to the latest reports, Gibraltar (which is a dominion of the United Kingdom) has decided to release the tanker. The local authorities have received written confirmation from Iran that the tanker is not trying to supply Syria with oil. Currently Syria is denied oil supplies by the European Union on account of the use of chemical weapons by the government.

In response to their tanker being taken, Iran seized control of a British vehicle in the strait of Hamaz, which is a key location a majority of oil tankers pass through. At this point in time it is unclear whether Gibraltar released the Iranian tanker in order to bargain for the freedom of the UK one.

Anna Sneider

Economic News

Market Overview, August 15

China is getting ready to get back at the US, oil is losing value, and lots of reports are expected.

Anna Sneider
15. 8. 2019

Economic News

August 15: Digest Review

This Thursday is expected to be saturated with many macroeconomic reports.

Stanislav Litinskyi
15. 8. 2019

Economic News

Market Pessimism Good for Safety Assets

Safety assets are doing better today amid higher risk aversion.

Anna Sneider
14. 8. 2019