U.S. Department of Defense Bolsters Forces in Response to Iran's Ship Attacks

Trade & Border IssuesHot Spots
Written By Jennifer Joslyn

🇮🇷 U.S. Department of Defense Bolsters Forces in Response to Iran's Ship Attacks.

The U.S. Department of Defense has announced plans to deploy additional forces to the U.S. Central Command (Centcom) area of responsibility in response to Iran's attacks and seizures of commercial ships in the Persian Gulf and Gulf of Oman. The deployment includes an Amphibious Readiness Group/Marine Expeditionary Unit (ARG/MEU) in addition to the U.S. Navy destroyer USS Thomas Hudner, F-35s, and F-16s sent to the Strait of Hormuz earlier this week.

Read more from G Captain ▶

Featured
Humanitarian Aid Reaches Gaza via Temporary U.S. Pier
Humanitarian Aid Reaches Gaza via Temporary U.S. Pier

On Friday, trucks carrying humanitarian aid began delivering much-needed supplies to Gaza using a temporary pier built by the U.S.

House Passes Bill to Expedite Weapons to Israel
House Passes Bill to Expedite Weapons to Israel

The Republican-led U.S. House of Representatives passed the Israel Security Assistance Support Act on Thursday, pushing President Biden to send weapons to Israel more quickly.

U.S. Helicopters Repel Houthi Attack on Maersk Vessel in Red Sea
U.S. Helicopters Repel Houthi Attack on Maersk Vessel in Red Sea

In a recent incident in the Red Sea, U.S. helicopters successfully defended a Maersk container vessel from an attack by Iran-backed Houthi militants.

International Coalition Launches 'Operation Prosperity Guardian' to Safeguard Red Sea Trade Routes
International Coalition Launches 'Operation Prosperity Guardian' to Safeguard Red Sea Trade Routes

An international coalition of countries, including the United States, the United Kingdom, and others, has launched "Operation Prosperity Guardian" to counter Houthi rebels targeting commercial ships in the Red Sea.

BP Joins Major Companies in Suspending Red Sea Shipments Amid Houthi Rebel Attacks
BP Joins Major Companies in Suspending Red Sea Shipments Amid Houthi Rebel Attacks

BP has decided to halt all shipments through the Red Sea due to recent attacks on trade vessels by Houthi rebels in Yemen.

OPEC+ Agrees to 2.2 Million BPD Output Cuts for Early 2024, Led by Saudi Arabia
OPEC+ Agrees to 2.2 Million BPD Output Cuts for Early 2024, Led by Saudi Arabia

OPEC+ oil producers have agreed to voluntary output cuts totaling approximately 2.2 million barrels per day (bpd) for early next year, with Saudi Arabia continuing its existing voluntary cut.

UAE Denounces 'Fake News' Amid COP28 Climate Conference Host Role Controversy
UAE Denounces 'Fake News' Amid COP28 Climate Conference Host Role Controversy

The United Arab Emirates (UAE) has denounced what it calls "fake news" aimed at undermining its role as the host of the COP28 climate conference, including false reports about the resignation of COP28 president-designate Sultan Al-Jaber from his position at the state oil giant ADNOC.

Iraq's Support for OPEC+ Cuts Boosts Oil Prices, but Weekly Declines Continue Amid Demand Concerns
Iraq's Support for OPEC+ Cuts Boosts Oil Prices, but Weekly Declines Continue Amid Demand Concerns

Oil prices rose by approximately 2% as Iraq expressed support for OPEC+'s oil production cuts ahead of an upcoming meeting.

DSV Secures Exclusive Logistics Contract for Saudi Arabia's NEOM Project
DSV Secures Exclusive Logistics Contract for Saudi Arabia's NEOM Project

DSV, a logistics company, has secured an exclusive contract to provide logistics services for NEOM, a large development project in Saudi Arabia, encompassing cities, ports, research centers, and more.

Geopolitical Conflict and 'Fragmentation': Impacts on Supply Chains and 'Slowbalisation
Geopolitical Conflict and 'Fragmentation': Impacts on Supply Chains and 'Slowbalisation

As economists assess the financial impact of ongoing geopolitical conflicts, the International Monetary Fund (IMF) has highlighted the concept of "fragmentation" repeatedly in its World Economic Outlook, emphasizing concerns about how strife could disrupt global supply chains and potentially reduce global GDP by up to 7%.

JP Morgan CEO Jamie Dimon Warns of Global Impact Amid Middle East Conflict Escalation
JP Morgan CEO Jamie Dimon Warns of Global Impact Amid Middle East Conflict Escalation

JP Morgan's CEO, Jamie Dimon, has expressed concerns about the escalating conflict in the Middle East, particularly Israel's expected ground offensive on Gaza.

U.S. Explores Evacuation Options for Americans in Israel Amidst Conflict
U.S. Explores Evacuation Options for Americans in Israel Amidst Conflict

The U.S. government is exploring various options, including land and sea routes, to assist Americans in leaving Israel.

OPEC+ Sticks to Strategy, Saudi Arabia Extends Unilateral Oil Cut
OPEC+ Sticks to Strategy, Saudi Arabia Extends Unilateral Oil Cut

OPEC+ decided to maintain its current production cut strategy after Saudi Arabia extended its unilateral cutback of 1 million barrels a day into September.

Saudi Arabia Extends 1M-Barrel Oil Cut, Leaves Option to Deepen
Saudi Arabia Extends 1M-Barrel Oil Cut, Leaves Option to Deepen

Saudi Arabia has extended its unilateral oil production cut of 1 million barrels a day into September, and the country says it may extend or deepen the cuts further.

Iran's APT34 Conducts Supply Chain Attack on UAE
Iran's APT34 Conducts Supply Chain Attack on UAE

Iran's APT34, also known as OilRig, has launched a supply chain attack targeting government entities in the United Arab Emirates (UAE).

U.S. Department of Defense Bolsters Forces in Response to Iran's Ship Attacks
U.S. Department of Defense Bolsters Forces in Response to Iran's Ship Attacks

The U.S. Department of Defense has announced plans to deploy additional forces to the U.S. Central Command (Centcom) area of responsibility in response to Iran's attacks and seizures of commercial ships in the Persian Gulf and Gulf of Oman.

Saudi Arabia Raises Crude Oil Prices, Risking Demand Suppression
Saudi Arabia Raises Crude Oil Prices, Risking Demand Suppression

Saudi Arabia's state-owned oil company, Saudi Aramco, increased the prices of its crude oil in Europe, the Mediterranean, and Asia, contrary to expectations.

Saudi Arabia Launches Inaugural Air Taxi Service
Saudi Arabia Launches Inaugural Air Taxi Service

Saudi Arabia has achieved a significant milestone in its pursuit of commercial electric vertical take-off and landing (eVTOL) operations with the successful completion of the first test flight of a flying taxi.

NEOM and King Salman Airport Driving Rapid Development in the Middle East
NEOM and King Salman Airport Driving Rapid Development in the Middle East

The Middle East is experiencing rapid development, with notable projects like NEOM and the King Salman International Airport transforming the region.

OPEC data suggests that Saudi Arabia's decision to reduce oil output will tighten the oil market
OPEC data suggests that Saudi Arabia's decision to reduce oil output will tighten the oil market

Based on data from OPEC, Saudi Arabia's decision to cut oil production is expected to significantly tighten global markets in July 2023.

U.S. Takes Measures to Safeguard Oil Tankers and Merchant Vessels in Iranian Maritime Zones
U.S. Takes Measures to Safeguard Oil Tankers and Merchant Vessels in Iranian Maritime Zones

The U.S. government has expressed rising concerns over the safety of commercial ships, including oil tankers, navigating Iranian waters following a series of seizures by Iran

Is the Middle East poised to become a manufacturing hub due to the energy transition?
Is the Middle East poised to become a manufacturing hub due to the energy transition?

A report by PwC-owned Stretegy& suggests that the Gulf Cooperation Council (GCC) countries could become manufacturing hubs and attract $300 billion in foreign direct investment (FDI) by leveraging their ambitious plans for green energy.

Traffic in Egypt’s Suez Canal eased after broken-down container ship is moved
Traffic in Egypt’s Suez Canal eased after broken-down container ship is moved

Four tugboats worked hard over the weekend to move the MSC INSTANBUL from being stranded in the middle of the canal, allowing traffic to flow through the vital waterway once again.

Pakistan’s ports are bloated with frozen imports
Pakistan’s ports are bloated with frozen imports

The country’s economy is teetering on the edge of collapse, and many companies - especially those that manage the ports - have been forced to halt operations in response.

Pakistan’s failing economy is forcing ports to shut down operations
Pakistan’s failing economy is forcing ports to shut down operations

Unable to fund imports due to the country’s depleting foreign currency reserves, Pakistan is abandoning containers full of goods at the ports.

Jennifer Joslyn
Previous

Potential UPS Strike Looms Large: Implications for Inflation Progress
Next

Kodiak Robotics Leads Pilot Program for Autonomous Truck Inspections, Streamlining Roadside Interactions