April lubricants industry market update.

July 11, 2026

DUBAI, United Arab Emirates (AP) — Iran said it considers the Strait of Hormuz closed once again after a vessel using an ‘unauthorized route’ was struck by a warning shot in the critical waterway, further jeopardizing the already tenuous ceasefire agreement with the United States.

U.S. Central Command said a short time later that its forces began a third round of strikes against Iran.

“The United States is imposing a heavy cost by continuing to degrade Iran’s ability to attack civilian mariners and commercial ships freely transiting the strait,” the military said.

A Cyprus-flagged container ship struck by Iran suffered “significant engineroom damage” and a civilian crew member is missing, U.S. Central Command said.

Senior U.S. officials had previously said in Washington that negotiations to further cement last month’s deal to end the war will be unable to progress without the strait being secure — and had even said they expected Iran to offer public statements to that effect.

Instead, the Revolutionary Guards Corps stated in an online post on Saturday that Iran launched warning shots at a “violating ship.” Iran further reported that the strait would now remain closed until further notice.
 
I saw a report that Qatar is the largest exporter of base oils. Their huge production plant is on the shore of the Strait. It was extensively damaged by you know who. The parts they need for repairs are on long back orders or wait lists. That is the problem they have to get back up and running.
 
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