NewsCommodities & ForexU.S. Central Command says 1 billion barrels of oil transited Strait of Hormuz in two months as Iran ‘exported zero barrels

U.S. Central Command says 1 billion barrels of oil transited Strait of Hormuz in two months as Iran ‘exported zero barrels

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Key Takeaways

  • •The head of U.S. Central Command reported that 1 billion barrels of oil moved through the Strait of Hormuz with American military support over two months, while asserting that Iranian exports have been halted to zero by the U.S. blockade.
  • •Transit volumes through the waterway have reached six-month highs after mines were cleared from primary lanes, but monitors say traffic remains far short of prewar levels and Iran keeps attacking ships as it asserts control over the strait.
  • •Saudi Arabia issued emergency alerts nationwide, including its first for Riyadh since fighting escalated with Iran-backed Houthi rebels in Yemen, with at least one explosion heard in the capital and no casualties reported.
  • •Iran executed a man convicted of passing classified information on military sites to Israel's Mossad, while Israel struck Hezbollah targets in southern Lebanon after two soldiers were wounded by an explosive device.
  • •More than 280,000 children in Gaza are attending school in tents and heavily damaged classrooms, and the U.N. agency for Palestinian refugees says 95% of the 182 fully equipped schools it ran three years ago have been lost.
U.S. Central Command says 1 billion barrels of oil transited Strait of Hormuz in two months as Iran ‘exported zero barrels

The head of U.S. Central Command said the U.S. military has supported the transit of 1 billion barrels of oil through the Strait of Hormuz over the past two months, while claiming that Iran has “exported zero barrels” as a result of a U.S. blockade.

Adm. Brad Cooper said the strait’s primary transit lanes have been cleared of mines, and that the volume of oil, natural gas and cargo moving through the waterway over the past two weeks is the highest it has been in six months — roughly since shortly after the war began with U.S. and Israeli strikes.

Monitors, however, say shipping traffic remains well below prewar levels, and Iran continues to attack ships as it asserts control over the strait, through which about one-fifth of the world’s traded oil and natural gas passed before war. The strait is the only sea passage out of the Persian Gulf, making it the world’s most important transit chokepoint for oil and natural gas.

For the countries and companies that depend on Gulf energy and cargo routes, the figures to watch are whether traffic keeps climbing toward prewar levels and whether the reported halt in Iranian exports holds.

Here is the latest news from the Middle East on Saturday.

Saudi Arabia issues first Riyadh alert since escalation

Saudi Arabia warned of a “hostile aerial threat” overnight and issued a string of emergency alerts across the kingdom, including the first alert for its capital since fighting escalated with Iran-backed Houthi rebels in neighboring Yemen. At least one explosion was heard in Riyadh after the alert.

No casualties or damage were reported. Saudi authorities did not say what prompted the alerts, though they have previously reported intercepting Houthi missiles and drones.

Iran executes man convicted of spying for Israel

Iran’s state TV said a man identified as Hossein Pedram was executed after being convicted on charges of spying for Israel’s intelligence agency, Mossad. According to the report, Pedram shared classified information on “sensitive military sites” in Iran’s Isfahan province, though it did not say how he accessed the information.

He was reportedly arrested after those sites, which included missile bases, were targeted in last year’s 12-day air war by the U.S. and Israel. His execution follows a recent surge of executions in Iran that has drawn international outcry from rights groups.

Israeli strikes kill three in Gaza

Gaza’s Health Ministry and Shifa Hospital officials said one man was killed in the Shijaiyah neighborhood of Gaza City. Another man, identified as the son of the ministry’s director general, was killed as he walked in the Jabaliya refugee camp in northern Gaza. The Israeli military said it struck “several military operatives” and that it would provide more details later.

Later, officials at Shifa Hospital said an Israeli strike on a civilian vehicle in Gaza City killed one person and wounded at least four others. “The body was completely charred,” managing director Rami Mhanna said. Israel’s military said it “struck a Hamas military operative.”

The heaviest fighting between Israel and Hamas has subsided since a ceasefire last October, but Israeli fire has killed more than 13,780 Palestinians in Gaza since then, according to Gaza’s Health Ministry.

Israel strikes Hezbollah targets in southern Lebanon

Israel’s military said it struck targets of the Hezbollah militant group across several areas of southern Lebanon. The strikes came after two soldiers were wounded when their vehicle drove over a Hezbollah explosive device in an area of southern Lebanon occupied by Israeli troops, the military said.

Lebanon’s state-run National News Agency reported three Israeli airstrikes on the southern town of Nabatiyeh al-Fawqa, saying the third strike almost hit paramedics heading to the area and that no one was hurt.

Pakistan raises energy supplies and shipping safety with Iran

Pakistan’s Foreign Minister Ishaq Dar discussed uninterrupted energy supplies and safe passage for commercial ships during a telephone call with Iranian Foreign Minister Abbas Araghchi. In a statement, Pakistan’s Foreign Ministry said Dar cited the potential effects of disruptions on developing countries and global supply chains.

Rising energy prices have increased pressure on the government of Pakistani Prime Minister Shehbaz Sharif, and an Islamist party has threatened to march on the capital, Islamabad, unless the government lowers fuel prices.

Charges filed after women run Tehran race without headscarves

Iran’s state TV said the Tehran prosecutor’s office filed charges against race organizers after women participated without covering their hair, because “legal and Islamic Sharia” was not observed. The country’s ruling theocracy requires women to wear scarves that cover their hair and loose-fitting clothes that hide their bodies.

Footage circulated online showing women running the 10-kilometer (6-mile) race without the hair covering. Habib Sotoudehnejad, head of Tehran’s sports department, said about 5% of participants violated race rules. The race was run separately for men and women.

Syria buries 11 soldiers killed in Deir el-Zour blast

Syria’s Defense Ministry held a funeral for 11 soldiers killed a day earlier in an explosion in the village of Ayash in the eastern province of Deir el-Zour. The ministry did not give a cause for the blast, which also wounded several other military personnel. The Britain-based Syrian Observatory for Human Rights said the explosion occurred in an arms depot at a military post.

Children return to school in war-devastated Gaza

The U.N. agency for Palestinian refugees said more than 280,000 children in Gaza are attending school in tents and heavily damaged classrooms. At an UNRWA-run school in Nuseirat, some classrooms have no desks, leaving children to sit on blankets on the floor. Still, some families said the return to school brings back a familiar sense of routine that was upended by war.

Tawfiq al-Hourani, the agency’s education program chief, said UNRWA operated 182 fully equipped schools three years ago, and that 95% of them have since been lost.

This story was originally featured on Fortune.com.