Saudi Arabia Seeks Maritime Coalition as Oil Finds Support Near $90

GeopoliticsCommodity Impact 4
โดย Oilprice.com·Read original
Summary · why it matters

Saudi Arabia is organizing an international maritime coalition to safeguard Red Sea shipping from Houthi attacks, joined by 13 other countries, with Riyadh hosting the alliance's headquarters. Brent crude is set for an 8% weekly loss but remains near $90 a barrel as disruptions in the Strait of Hormuz and the Red Sea continue to support prices. The IRGC claims to have turned around several tankers in the Strait of Hormuz, while Tehran rejected Oman's proposal for joint regional management of the waterway and no new US-Iran talks are on the agenda. BP has formally launched a process to sell its UK North Sea oil and gas business, citing high taxes and a worsening investment climate. Other developments include a drone attack on Egypt's Damietta port that caused a fire on two gas vessels, the Caspian Pipeline Consortium suspending loadings at its Black Sea terminal after drone strikes, and critically low Rhine River levels disrupting European fuel transportation.

Impact on stocks 2

Energy Transition & Power Demand · 2 stocks
BP PLC
BP
▼ NegativeRegulationrelevance

BP launches sale of UK North Sea business due to high taxes and worsening investment climate.

Shell plc
SHEL
± MixedSupplyrelevance

Shell mentioned as part of oil sector impacted by Red Sea disruptions and supply concerns.

Theme Impact 4

Related news

Mercury Systems Beats Q2 Estimates With Record Bookings as Defense Contractors Post Strong Quarter

Mercury Systems reported fourth quarter fiscal 2026 revenues of $289.8 million, up 6.1% year on year and 9.2% above analysts' expectations, as the 14 defense contractors stocks tracked by the report collectively beat consensus revenue estimates by 4% and guided next quarter 1.1% above expectations. Chairman and CEO Bill Ballhaus said the company delivered record bookings, record backlog, record revenue, the highest EBITDA margin of the year, and robust free cash flow, though Mercury shares are down 18.5% since reporting and trade at $85.56. Huntington Ingalls posted the group's best quarter, with revenues of $3.42 billion, up 10.9% year on year and 8.2% above expectations, while its shares have traded sideways at $278.53. Parsons delivered the weakest quarter, with revenues of $1.58 billion, flat year on year and 1.9% below expectations, alongside full-year revenue and EBITDA guidance that missed significantly, sending its stock down 25.5% to $46.19. Northrop Grumman reported revenues of $10.88 billion, up 5.1% and 0.5% above expectations, with shares flat at $526.95, and Leidos reported revenues of $4.56 billion, up 7.2% and 2.6% above expectations, with its stock up 10.4% at $131.09. On average, defense contractors shares are down 2.9% since the latest earnings results.
Yahoo Finance·18hRead more →

Kim Yo Jong Threatens Escalated Response to US After Pacific Vanguard 2026 Drills

Kim Yo Jong, the sister of North Korean leader Kim Jong Un, said on September 18 that US-led military exercises are steadily worsening the situation on the Korean Peninsula, and affirmed that North Korea will continue to build up its nuclear arsenal. The Korean Central News Agency reported Kim Yo Jong's statement, which referred to the annual Pacific Vanguard naval exercise scheduled for 2026 near Guam as yet another US-led war rehearsal and part of efforts to expand military influence in the Asia-Pacific region through cooperation with allies such as South Korea and Japan. Kim Yo Jong said the situation compels North Korea to take proportional or more proactive countermeasures, and warned that the North Korean military will mobilize every means at its disposal if its security or national interests are violated. The statement was her second in two days, after she rejected calls for North Korea to denuclearize once again on Thursday, September 17, at a meeting of the International Atomic Energy Agency, reiterating the position that North Korea's status as a nuclear-armed state is irreversible. The multilateral Pacific Vanguard 2026 naval exercise is led by the United States, with maritime forces from South Korea, Australia, Canada, New Zealand and Japan taking part near Guam from August 29 to September 10, according to Japan's Maritime Self-Defense Force.
InfoQuest·1dRead more →

Lee Jae-myung Says South Korea Will Not Send Troops to Iran War, Weighs Expanded Cheonghae Unit Role

President Lee Jae-myung, South Korea's leader, confirmed that South Korea will not become involved in the war in the Middle East, whether directly or indirectly, and that any role the country plays will have no connection to combat. Speaking to reporters on September 18, he said no troops would be sent to participate in or intervene in the war, stressing that South Korea adheres to the principle of not taking part directly in combat and will continue to uphold it. However, the South Korean leader said that while it will not participate directly in the fighting, the situation is complex and constantly changing, so the government must consider measures to protect the lives of its citizens, commercial vessels and crude oil shipping routes. He added that the South Korean military has the Cheonghae naval task force, which is ready to carry out missions to protect the country's interests, and acknowledged that the government is considering expanding its role in such missions. The remarks came in response to questions about the possibility of South Korea deploying troops near the Strait of Hormuz, amid pressure from the United States for South Korea to support operations against Iran, particularly in safeguarding navigation through the Strait of Hormuz. Although the South Korean government still insists no decision has been made, speculation has been growing in recent weeks that it may consider sending troops or equipment into the area.
InfoQuest·1dRead more →