Iran

According to the latest report by the International Energy Agency (IEA), the interruption of maritime traffic in the Strait of Hormuz has resulted in a loss of the equivalent of 10 million barrels a day in the markets. The flow of the Strait of Hormuz has been reduced to less than 10% compared to those before the crisis. Indeed, before the crisis, 15 million barrels of crude oil were spent a day, and another 5 million barrels of crude oil from the world's total supply.

Following the latest attacks on ships passing through the Strait of Hormuz, the price of a Brent barrel has risen by more than $100. 

President Masud Pezeshkian has reaffirmed Tehran's "commitment" to peace in the region and proclaimed its "right to self-defence."

At the meeting of the Industrial Defence Group, the President, Imanol Pradales, announced that his Government is preparing 'a first package of measures if the situation continues and becomes more complicated', and urged the Spanish Government and the EU to do the same.

However, he has stressed that they must be "organized" to escort merchant ships in the area.

According to The Wall Street Journal this Wednesday, the International Energy Agency (IAE) has proposed the largest release of oil reserves in its history to reduce oil prices, which would exceed the 182 million barrels of oil that IAE countries placed in 2022 when Russia invaded Ukraine. 

The US Central Command has released a video of attacks on Iranian ships, indicating that the aim of the operation is to relaunch navigation. 

The bombings have intensified in Iran and southern Lebanon, where 1,250 people have already been killed, mostly civilians. For the time being, the parties have shown no intention of negotiating, despite calls from China and Russia to defuse the conflict.

The consumer association Facua has denounced that gas stations are taking advantage of the Iranian war to inflate prices and has called on the Spanish Government to intervene in the face of this' speculative 'behaviour.

Iran has warned the media and the population that cooperation with the enemy will be punished with death and confiscation of property following the US and Israel offensive, which has already left more than 1,200 dead.

Energy ministers from the US, Canada, Japan, France, Italy, Germany, and the UK will meet this Tuesday virtually to discuss the supply cut caused by the Iranian war and the possible release of oil reserves.

The day before, Brent's barrel had reached $120, but after Trump declared the war against Iran "almost over," the price of oil has fallen. 

A summary, in two words, of what will be news in the Present today.

Also, the Republican leader  has assured us that the Strait of Hormuz is open and that ships have begun to pass through it, adding that he is considering taking control of that passage. 

The war in the Middle East continues and Iran, for the time being, shows no signs of fatigue. The Persian country continues its attacks on Israel and neighbouring US-allied countries with the aim of creating a global economic crisis.

Martin Izagirre is 26 years old, is currently the second officer of a gas tanker and has already crossed the Strait of Hormuz 50 times. Since February 26, his ship has been anchored in the Persian Gulf off Iraq. Iran attacks have shut down the Strait and thousands of boats have been trapped on either side.

On the other hand, Donald Trump warned yesterdaythatthe new ayatollah  "will not last long" if it does not have US approval, statements he made before the name of Iran's supreme leader was known, but earlier last week he said it would be "unacceptable" to elect Khamenei as leader.

This mission should be carried out 'with European and non-European countries once the most critical phase of the conflict has been completed'. The Head of State has specified that the plan would have a 'peaceful purpose of assistance' and that the way would be to 'escort' various types of vessels so that 'gas and oil' can pass through Hormuz again.