Browsing: Iran

Shell’s latest financial statements reveal a remarkable accounting consequence of the Middle East conflict. While the oil giant reports extraordinary profits, soaring tanker freight rates have triggered billions of dollars in additional shipping-lease liabilities. The figures are non-cash adjustments, not realised losses, but they expose another dimension of Shell’s vulnerability to geopolitical disruption.

The United States is investigating whether Iran was behind cyberattacks on two energy tankers bound for American ports that were struck while transiting the Strait of Gibraltar in August, The Wall Street Journal reported on Thursday, citing US officials familiar with the investigation.