Gulf Of Oman News
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Kuo Oil Ltd., the Singapore trader that the U.S. censured last month for trading with Iran, has booked a fuel-oil shipment from the Persian Gulf nation for loading in March, shipping data show.
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Pirates threatened a ship at the north end of the Strait of Hormuz in the nearest-ever attack to the waterway, which handles 20 percent of the globally traded oil, according to the International Maritime Bureau.
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The Iranian military is unlikely to intentionally provoke a conflict with the West, the top U.S. military intelligence official said today.
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The United Arab Emirates will be able to use ports on the Gulf of Oman for oil exports if Iran closes the Strait of Hormuz, transit point for about a fifth of the global oil supply, Dahi Khalfan, Dubai’s chief of Police, said in an interview with Bahrain TV last night.
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Iran has the ability to block the Strait of Hormuz “for a period of time,” and the U.S. would take action to reopen it, Joint Chiefs of Staff chairman General Martin Dempsey said.
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Oil climbed to the highest level in more than seven months as manufacturing in the U.S. and Asia expanded in December and concern persisted that further sanctions against Iran may disrupt shipments.
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The U.S. Navy is using its first high-altitude drone, part of a potential $11 billion program, to monitor Iranian military activity and vessel transit in and around the Strait of Hormuz, according to service officials.
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A pipeline that would allow crude oil from the United Arab Emirates to bypass the Strait of Hormuz separating it from Iran has been delayed because of construction difficulties, two people with knowledge of the matter said.
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The U.S. rebuffed Iran’s demand not to return an aircraft carrier to the Persian Gulf, a “warning” from Tehran that helped send oil prices to the highest in almost eight months.
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The Organization of Petroleum Exporting Countries kept its forecast for 2012 oil demand unchanged, while warning that Europe’s debt crisis could harm global consumption.
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