Iranian missile strikes hit Iraq, Syria: Update

: Crude oil
24/01/16

Adds details on targets of strikes

Iran's Islamic Revolution Guards Corps (IRGC) has fired several missiles at sites in Syria and Iraq's semi-autonomous region of Kurdistan, state-owned news agency Irna said today.

The attack has not affected oil prices so far, with the front-month Ice Brent March contract at $77.95/bl at 08:50 GMT, down slightly from the previous day. The front-month February WTI contract was at $72.23/bl, down by 45¢/bl.

The attacks add to tensions in the region, which have escalated further since the US and UK carried out air strikes on Yemen's Houthi militant group last week. A bulk carrier was hit by a missile in the Gulf of Aden on 15 January, in an attack later claimed by the Houthis.

The strikes on Iraq and Syria were carried out "in response to recent terrorist attacks" in the city of Kerman and in Sistan and Baluchistan province in Iran, the IRGC said. The IRGC claimed to have targeted spy centres and sites where anti-Iran terrorists had gathered.

It said it had destroyed the headquarters of Israeli intelligence agency Mossad in Kurdistan "for its role, as well as the plot the Israeli regime's spy agency hatched to assassinate Iranian and resistance commanders". The strike in Syria targeted "terror commanders", including from the Islamic State group, it said.

The Kurdistan Region's prime minister Masrour Barzani said several civilians have been killed today, and called on the Iraqi federal government in Baghdad to "take a principled position against the flagrant violation of Iraq's and the Kurdistan Region's sovereignty".

Among the civilian casualties was prominent businessman Peshraw Dizayee, according to Kurdistan Democratic Party politburo member Hemin Hawrami on social media platform X, formerly Twitter. Dizayee owns the Iraqi conglomerate Falcon group which has an oil field services subsidiary headed by his son Roj Peshraw Dizayee.

Iran's state-owned news agency Irna claimed Dizayee "was the owner of big construction projects in Kurdistan and other places in Iraq and a trade partner for... Israel." Argus could not independently verify the report. Iran has previously targeted Kurdistan, Iraq, claiming it is hitting "Israeli strategic centres".

The US Department of State confirmed the attacks in Iraq. The US "strongly condemns Iran's attacks in Erbil today… We oppose Iran's reckless missile strikes, which undermine Iraq's stability," it said.

Today's strikes follow explosions that occurred on 3 January in the vicinity of a cemetery in Kerman in Iran where IRGC commander Qasem Soleimani is buried, during a ceremony to mark the fourth anniversary of his assassination.

Israel killed senior IRGC officer Seyyed Razi Mousavi in an air strike in Syria in late December, which prompt Iran to announce that it would "definitely" take revenge for the killing.

By Prethika Nair and Bachar Halabi

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

25/12/20

US seizes another Venezuelan tanker

Washington, 20 December (Argus) — The US Coast Guard on Saturday detained another Venezuelan tanker, making good on President Donald Trump's pledge to stop most shipments of Venezuelan crude. US homeland security secretary Kristi Noem, who oversees the Coast Guard, announced the seizure via a social media post, without releasing the name of the tanker. "The United States will continue to pursue the illicit movement of sanctioned oil that is used to fund narco terrorism in the region", Noem wrote. The US Coast Guard on 10 December seized a Venezuelan tanker with a cargo of crude destined for Cuba. Trump on 16 December declared a blockade of Venezuelan tankers previously placed on the US sanctions list and demanded that Venezuela "return to the US all of the oil, land and other assets that they previously stole from us". The tanker seized on 10 December was on the US sanctions list. Caracas has reacted by ordering Venezuelan naval vessels to escort tankers in the country's territorial waters. The US naval vessels have kept to international waters off Venezuela's coast. Little crude tanker traffic has moved out of Venezuela's main ports since the 10 December seizure of the Venezuelan tanker, with the exception of cargoes chartered by Chevron and a few other foreign oil majors working with state-owned oil firm PdV, industry and government sources say. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trinidad not part of US blockade of Venezuela: PM

25/12/19

Trinidad not part of US blockade of Venezuela: PM

Kingston, 19 December (Argus) — Trinidad and Tobago is not involved in the US blockade of oil tankers entering and leaving from neighboring Venezuela, prime minister Kamla Persad-Bissessar said on Thursday. She rejected a Venezuelan government claim that her country is part of US president Donald Trump's current campaign against Venezuelan president Nicolas Maduro, and that it is supporting "the theft of Venezuelan oil." "We have no intention of engaging in any war with Venezuela," Persad-Bissessar said. But Trinidad's foreign ministry said on 15 December that the US is using the country's two airports for "logistical activities," including resupply for US operations and personnel rotations. Venezuelan vice-president Delcy Rodriguez accused Persad-Bissessar of being "hostile" to Venezuela, saying she "has turned her country into a US aircraft carrier to attack Venezuela, in an unequivocal act of vassalage." The US has stationed a large naval force in the waters near Venezuela since September and has destroyed several small boats in the area it said were carrying drugs, killing more than 80 people. Trump said in November he would order land strikes against Venezuela soon, and the US seized a tanker carrying Venezuelan crude earlier this month. Trinidad's rejection of the Venezuelan claims follow a standoff between the hydrocarbon producers over agreements to develop an offshore natural gas field in Venezuelan waters close to their maritime border that has an estimated 4.3 Tcf in reserves. Trinidad described a Venezuelan decision to terminate all natural gas supply contracts with it as "propaganda". The southwestern tip of gas-short Trinidad is 11 miles from Venezuela's north coast, and the country has been seeking gas from Venezuelan offshore fields to support up declining domestic output. By Canute James Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Mexico central bank cuts target rate to 7pc

25/12/19

Mexico central bank cuts target rate to 7pc

Mexico City, 19 December (Argus) — Mexico's central bank cut its benchmark interest rate by 25 basis points to 7pc, its lowest level since June 2022, maintaining a slower pace in the easing cycle on inflation concerns. The decision marked the eighth rate cut this year and the fourth quarter-point reduction following four consecutive half-point cuts. This year's cuts follow five quarter-point cuts in 2024 from a cyclical peak of 11.25pc in March. The board approved the cut in a 4-1 vote, with deputy governor Jonathan Heath dissenting in favor of holding the rate at 7.25pc. Heath has been the lone dissenter in the past five decisions, consistently urging greater caution. The central bank said the decision reflected "the behavior of the exchange rate, the weakness of economic activity and the possible impact of changes in global trade policies," repeating language used in its last four statements. Gabriela Siller, chief economist at Banco Base, pointed to a "significant change" in the bank's forward guidance, noting a shift toward a less dovish tone. The board said it "will consider when to make further adjustments" to the policy rate, replacing the "will consider cutting" language used in November. Mexican bank Banorte also said the central bank struck a less dovish tone, pointing to a change in its forward guidance. Annual inflation rose to 3.8pc in November from 3.57pc in October, according to statistics agency Inegi. Core inflation, which excludes volatile food and energy prices, accelerated to 4.43pc from 4.28pc. The central bank now sees headline inflation ending 2025 at 3.7pc, up from 3.5pc in its November forecast, while core inflation is projected at 4.3pc, revised from 4.1pc. It also raised its headline and core forecasts for the first two quarters of 2026, while maintaining that both will converge to its 3pc target by the third quarter. The bank said the revisions mainly reflect a "more gradual-than-expected" easing in services inflation, along with a smaller contribution from accelerating consumer goods prices. The board also addressed recent tax reforms, which it expects will have a temporary and not necessarily proportional impact on prices, adding it will update its forecasts as it conducts a comprehensive assessment of the revised tax code's effects. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US House passes bill to expedite permitting

25/12/18

US House passes bill to expedite permitting

Washington, 18 December (Argus) — The US House of Representatives on Thursday approved a bill designed to fast-track permitting for energy projects and reduce related litigation risks. But a last-minute change Republicans made to exclude some offshore wind and solar projects led some Democrats and a major clean energy group to withdraw support, complicating the bill's chances of passage in the Senate. The Republican-controlled House voted 221-196 to pass the SPEED Act, with 11 Democrats crossing the aisle to vote for what would be the most significant changes to federal permitting in years. The bill will now advance to the US Senate, where proponents will likely need to agree to make significant changes if they hope to pick up the votes of at least seven Democrats to avoid a filibuster. The bill "finally brings common sense by cutting red tape that dramatically increases the cost and, in some cases, just makes it economically unfeasible to do projects", House Republican majority leader Steve Scalise (R-Louisiana) said. The SPEED Act focuses on revising project reviews under the National Environmental Policy Act (NEPA), which is a source of delay and litigation risk for pipelines and renewable projects alike. The bill would require federal agencies to narrow those reviews and uphold those decisions even if federal courts find them to be inadequate. The bill would also provide permit "certainty" by limiting the government's ability to rescind prior approvals, averting a repeat of events like the cancellation of the Keystone XL pipeline. "We applaud the House for advancing the SPEED Act, a bipartisan, commonsense step toward fixing a federal permitting system that's long been broken," oil industry group the American Petroleum Institute said. Republican leaders were hoping 30-40 Democrats would join them to support the SPEED Act. The bill had broad bipartisan support when it was drafted because of provisions meant to prevent permitting delays that have plagued both oil and gas pipelines and renewable energy development. But Republican leaders, to satisfy far-right conservatives, made a change to the bill earlier this week that would prevent its expedited permitting procedures from benefiting any project that Trump's administration has blocked or revisited since 20 January. The Trump administration has targeted multiple offshore wind and solar projects this year and has ordered the developer of the nearly complete 704MW Revolution Wind project off the coast of Rhode Island to stop construction. That change fractured a bipartisan coalition that had spent months working on technology-neutral permitting language. The American Clean Power Association, the largest industry group for US renewable energy, on Wednesday withdrew its support of the bill , arguing the "poison pill amendment" that Republicans made eviscerated bipartisan language that gave expedited permitting treatment for all types of energy resources. A number of House Democrats who had backed the bill also withdrew their support. American Clean Power plans to work with both parties in the Senate to make changes. "This is not the final draft," representative Scott Peters (D-California) said during floor debate Thursday, vowing to work with his colleagues in the Senate to address House Democrats' concerns. By Chris Knight and Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Ithaca first to try new UK North Sea regime

25/12/18

Ithaca first to try new UK North Sea regime

London, 18 December (Argus) — UK-listed upstream producer Ithaca Energy has begun the approval process for a development in the North Sea, the first since the government softened its approach to the region. Ithaca has submitted a development summary and environmental statement for the Fotla field to the offshore regulator Opred. It outlines a two-well tie-back to the Britannia platform, which processes liquids from the Greater Britannia Area, including Ithaca's Alder field. Ithaca indicates that if the process is successful, drilling will begin in the first half of 2027, with first oil in the final quarter of that year. This is the first submission of an offshore proposal since the UK government published its 'North Sea Future Plan' alongside its budget in late November. That enables "limited oil and gas production in areas that are already part of an existing field, or in areas adjacent to already licensed fields, linked via a tieback, to help ensure they remain economically viable". Developers are not permitted to explore for oil and gas at these sites, and a ban remains on new oil and gas licensing. London's stance on North Sea development has delayed the Rosebank project, in which Ithaca holds a 20pc stake, and the company's west of Shetland Cambo project. Ithaca expects its production to average 119,000-125,000 b/d of oil equivalent (boe/d) this year. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Argus Tanker Freight

原油、精製品、バイオ燃料のフレートリスクを管理するためのデータ、洞察、独自ツール

Argus Crude

世界各地の原油市場におけるスポット価格を市況解説とともに提供する情報サービスです。掲載される価格インデックスは、北米、欧州、旧ソおよびアフリカ原油などの契約価格の決済指標として利用されるほか、中東およびアジア市場においても社内販売価格や在庫評価額として利用されています。

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more